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x CCLE019 Accounting for Lawyers (Sem 1)

*non-LLM Module which may be of interest to LLM students*

This module is taught on the MSc Law and Finance and/or the LLM Law and Economics programme.

It is available to LLM students as part of the 180 credit requirement - to a maximum of 45 credits.

Module Description

The aim of this module is to develop an understanding of the techniques used to provide planning, decision-making and control in the business environment. It is hoped that the techniques studied will enable the business manager to make a range of decisions for the benefit of the organisation.

This module is designed to introduce fundamental management accounting concepts to non-accountants. This will include applying various techniques to evaluate business decisions in both the long and short term. Students will be able to employ a range of control methods within a business and analyse its performance. The module is designed for students to gain an appreciation of the concepts while having an insight into their practical application.

Module Topics

  • Introduction to management accounting
  • Differences between financial and management accounting
  • The role of costing
  • Nature and classification of costs
  • The need for planning
  • Budgeting
  • Alternative planning tools (balanced scorecard, KPIs)
  • Investment appraisal 1
  • Investment appraisal 2
  • Material and labour costs and expenses
  • Absorption costing
  • Standard costing
  • Activity-based costing
  • Marginal costing 1
  • Marginal costing 2
  • Short-term decision making

Applicable programmes

Assessment

2 hour written exam

Credits

22.5 Credits

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