Unit aim
Introduces students to the various costing models, the allocation of service departments, budgeting and responsibility accounting that facilitate internal decision-making and control. Particular attention will be given to the recent developments in alternative costing systems and their relevance within a managerial context.
Unit content
Topic 1: The role of management accounting and cost terms and concepts
Topic 2: Cost-volume-profit (CVP) analysis
Topic 3: Product costing - traditional and contemporary
Topic 4: Process costing
Topic 5: Cost allocation and joint product costing
Topic 6: Budgeting
Topic 7: Variance analysis
Topic 8: Strategy, balanced scorecard and quality
Topic 9: Inventory management
Topic 10: Transfer pricing and relevant costs for decision making
Learning outcomes
Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.
Learning outcomes and graduate attributes
GA1: Intellectual rigour,
GA2: Creativity,
GA3: Ethical practice,
GA4: Knowledge of a discipline,
GA5: Lifelong learning,
GA6: Communication and social skills,
GA7: Cultural competence| On completion of this unit, students should be able to: | GA1 | GA2 | GA3 | GA4 | GA5 | GA6 | GA7 |
|---|
| 1 | discuss the accountant's role in the organisation including management functions including professional ethics and utilise cost-volume-profit relationship as an aid to decision making | Intellectual rigour | | | Knowledge of a discipline | | | |
| 2 | explain cost terms, concepts and classifications and calculate cost of goods manufactured and compute product/service costs in both job cost and process cost environments including activity-based costing (ABC) | Intellectual rigour | | | Knowledge of a discipline | | Communication and social skills | |
| 3 | explain the role of budgets and standards, prepare master budget, explain the concept of standard costing, prepare flexible budgets, and calculate detailed variances | Intellectual rigour | | | Knowledge of a discipline | | Communication and social skills | |
| 4 | discuss various methods of allocating indirect and support department costs and describe current trends occurring in organisations' cost allocation practices and apply alternative approaches to allocate joint costs in a joint-cost environment and distinguish between joint | Intellectual rigour | | | Knowledge of a discipline | | Communication and social skills | |
| 5 | recognise which strategies an organisation is using and describe a balanced scorecard approach to manage the implementation of those strategies | Intellectual rigour | | | Knowledge of a discipline | | Communication and social skills | |
| 6 | discuss inventory management | Intellectual rigour | | | | | | |
| 7 | use transfer pricing models in decentralised organisations. | Intellectual rigour | | | | | | |
On completion of this unit, students should be able to:
- discuss the accountant's role in the organisation including management functions including professional ethics and utilise cost-volume-profit relationship as an aid to decision making
- GA1:
Intellectual rigour
- GA4:
Knowledge of a discipline
- explain cost terms, concepts and classifications and calculate cost of goods manufactured and compute product/service costs in both job cost and process cost environments including activity-based costing (ABC)
- GA1:
Intellectual rigour
- GA4:
Knowledge of a discipline
- GA6:
Communication and social skills
- explain the role of budgets and standards, prepare master budget, explain the concept of standard costing, prepare flexible budgets, and calculate detailed variances
- GA1:
Intellectual rigour
- GA4:
Knowledge of a discipline
- GA6:
Communication and social skills
- discuss various methods of allocating indirect and support department costs and describe current trends occurring in organisations' cost allocation practices and apply alternative approaches to allocate joint costs in a joint-cost environment and distinguish between joint
- GA1:
Intellectual rigour
- GA4:
Knowledge of a discipline
- GA6:
Communication and social skills
- recognise which strategies an organisation is using and describe a balanced scorecard approach to manage the implementation of those strategies
- GA1:
Intellectual rigour
- GA4:
Knowledge of a discipline
- GA6:
Communication and social skills
- discuss inventory management
- use transfer pricing models in decentralised organisations.
Prescribed texts
Session 2
- Horngren, CT, Datar, SM, Rajan, MV, Wynder, M, Maguire, W & Tan, R, 2014, Cost Accounting - A Managerial Emphasis, 2nd edn, Pearson Australia, Australia. ISBN: 9781442563377 (paperback). "e-text" version is also available.
Session 3
- Horngren, CT, Datar, SM, Rajan, MV, Wynder, M, Maguire, W & Tan, R, 2014, Cost Accounting - A Managerial Emphasis, 2nd edn, Pearson Australia, Australia. ISBN: 9781442563377 (paperback). "e-text" version is also available.
Prescribed texts may change in future study periods.