Budgeting and Financial Management
| Module title | Budgeting and Financial Management |
|---|---|
| Module code | BEA1017DA |
| Academic year | 2025/6 |
| Credits | 30 |
| Module staff | Mr Felix Wilson (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 12 |
| Number students taking module (anticipated) | 50 |
|---|
Module description
The purpose of this module is to provide you with the methods and techniques of budgeting and forecasting required to manage revenue, expenditure and cash flow.
By the end of the module, you will be able to create budgets and forecasts using the most appropriate tools and techniques. Interpret budget reports to evaluate the reliability of forecasts and to identify variances which require further action.
This will result in you being able to compile, manage and report on budgets and be able to apply different approaches used to analyse the financial and non-financial impact of management decisions.
Finally, you will be able to interpret the process of how data is collected, extracted, analysed and reported.
Module aims - intentions of the module
This module explores the role of management accounting in an organisation, and how the information is used to aid decision making, including the principles that underpin management accounting methodology and techniques such as how costs are handled in organisations and reasons for treating costs in different ways.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Explain the purpose and techniques of budgeting and forecasting required to manage revenue, expenditure.( K11) and the approaches used to analyse the financial and non-financial impact of management decisions. K15
- 2. Explain the use of digital technology to compile, manage and report on budgets. K12 and the use of digital technology to provide management reports to assist decision making.K16
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 3. Create budgets and forecasts using the most appropriate tools and techniques. S10
- 4. Interpret budget reports to evaluate the reliability of forecasts and be able to identify variances which require further action. S11.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 5. Apply management accounting techniques to assist decision making within the organisation. S14
- 6. Analyse and interpret the process of how data is collected, extracted, analysed and reported.S24
Syllabus plan
This module will develop the management accounting techniques touched on it the first module introducing financial and management accounting.
- Differences between marginal and absorption costing
- Application of inventory control methods
- Attribute costs according to organisational requirements
- Investigate deviations from budgets
- Use spreadsheet techniques to provide management accounting information
- Use tools to manipulate, analyse and verify data
- Use management accounting techniques to support short-term decision making
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 34 | 266 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Schedules teaching and learning activities | 34 | 4 masterclasses and 4 webinars |
| Guided online study | 60 | Reading, research, web based activities on ELE |
| Workplace | 206 | Work activities |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Quiz | 45 minutes | 1-6 | Verbal & written |
| Practice questions and exams | 90 minutes | 1-6 | Verbal & written |
| Weekly tutorial problems for discussion | Four to five hours per week (inclusive of preparation time) | 1-6 | Tutor comments and suggested solutions |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 0 | 100 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Exam | 100 | 180 minutes | 1-6 | written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Exam | Exam | 1-6 | 6 weeks |
Re-assessment notes
Deferral – if you have been deferred for any assessment you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.
Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of referral will be capped at 40%
Indicative learning resources - Basic reading
Basic reading:
- Penning A. (2021), Applied Management Accounting Tutorial Osborne Books
- Atrill P & McLaney E (2021) Management Accounting for Decision Makers Tenth Edition Pearson
Indicative learning resources - Web based and electronic resources
- ELE – Faculty to provide hyperlink to appropriate pages
Indicative learning resources - Other resources
Association of Accounting Technicians (AAT) student learning portal
| Credit value | 30 |
|---|---|
| Module ECTS | 15 |
| Module pre-requisites | None |
| Module co-requisites | None |
| NQF level (module) | 4 |
| Available as distance learning? | Yes |
| Origin date | 14/03/24 |
| Last revision date | 27/02/2025 |
