Unit aim
Introduces students to the various accounting systems that facilitate internal management planning, decision making and control. Specific attention will be given to such topics as various costing systems and their relevance to the particular firm and the particular industry; the analysis and presentation of data for the solving of specific problems created by such things as departments, branches and the devolution of control; transfer pricing and the particular type of industrial activity undertaken.
Unit content
Topic 1: The role of management accounting and cost terminology
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: Management of decentralised organisations and transfer pricing
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 and professional ethics and utilise cost-volume-profit relationships as an aid to decision making | Intellectual rigour | Creativity | Ethical practice | | | Communication and social skills | |
| 2 | calculate product/service costs in both job cost and process cost environments including activity-based costing (ABC) | Intellectual rigour | Creativity | Ethical practice | | | Communication and social skills | |
| 3 | discuss various methods of allocating indirect and support department costs and describe current trends occurring in organisations' cost allocation practices, apply alternative approaches to allocating joint costs in a joint-cost environment | Intellectual rigour | Creativity | Ethical practice | | | Communication and social skills | |
| 4 | explain the role of budgets and standards and prepare master budget and explain the concept of standard costing, prepare flexible budgets, and calculate detailed variances | Intellectual rigour | Creativity | Ethical practice | | | 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 | Creativity | Ethical practice | | | Communication and social skills | |
| 6 | discuss inventory management, balance ordering costs with carrying costs using EOQ model and use a supply-chain approach to inventory and production management | Intellectual rigour | Creativity | Ethical practice | | | Communication and social skills | |
| 7 | explain responsibility accounting, use transfer pricing in a decentralised organisation, and evaluate different methods used to calculate transfer prices. | Intellectual rigour | Creativity | Ethical practice | | | Communication and social skills | |
On completion of this unit, students should be able to:
- discuss the accountant's role in the organisation including management functions and professional ethics and utilise cost-volume-profit relationships as an aid to decision making
- GA1:
Intellectual rigour
- GA2:
Creativity
- GA3:
Ethical practice
- GA6:
Communication and social skills
- calculate product/service costs in both job cost and process cost environments including activity-based costing (ABC)
- GA1:
Intellectual rigour
- GA2:
Creativity
- GA3:
Ethical practice
- 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, apply alternative approaches to allocating joint costs in a joint-cost environment
- GA1:
Intellectual rigour
- GA2:
Creativity
- GA3:
Ethical practice
- GA6:
Communication and social skills
- explain the role of budgets and standards and prepare master budget and explain the concept of standard costing, prepare flexible budgets, and calculate detailed variances
- GA1:
Intellectual rigour
- GA2:
Creativity
- GA3:
Ethical practice
- 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
- GA2:
Creativity
- GA3:
Ethical practice
- GA6:
Communication and social skills
- discuss inventory management, balance ordering costs with carrying costs using EOQ model and use a supply-chain approach to inventory and production management
- GA1:
Intellectual rigour
- GA2:
Creativity
- GA3:
Ethical practice
- GA6:
Communication and social skills
- explain responsibility accounting, use transfer pricing in a decentralised organisation, and evaluate different methods used to calculate transfer prices.
- GA1:
Intellectual rigour
- GA2:
Creativity
- GA3:
Ethical practice
- GA6:
Communication and social skills
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 is also available.
Prescribed texts may change in future study periods.