MBM1135 - Operations Management

Objectives:

On successful completion of the module, students will be able to:

1 explain the conventional and legal principles applied when preparing financial statements for a limited company
2 prepare, analyse and interpret financial statements of a simple limited company
3 apply basic costing techniques to the production process
4 analyse and interpret management accounting data in the context of both short and medium term decision making
5 prepare fixed and flexible budgets from forecast data
6 analyse variances of costs and revenues from budgets and standards

Content:

Accounting terminology and concepts
Financial accounting statements, with particular reference to limited companies – balance sheet; income statement; cash flow statement
Analysis and interpretation of financial statements, through percentages and ratios; the limitations of ‘introspective’ ratio comparison
Marginal costing and contribution; relevant costs for short and medium term decisions
Absorption costing for jobs and products
Fixed and flexible budgets
Budgetary control; variance analysis

Learning and Teaching Information:

Module delivered in a 2 hour block by a mixture of lectures, case studies, in class activities and discussion.

Lecture
Contact hours: 10
Number of Groups: one

Case discussion / activity
Contact hours: 10
Number of Groups: one

Assessment: