Course Title: Provide management accounting information

Part B: Course Detail

Teaching Period: Term2 2015

Course Code: ACCT5314C

Course Title: Provide management accounting information

School: 650T Vocational Business Education

Campus: City Campus

Program: C5260 - Diploma of Accounting

Course Contact: Ian Nash & Meetu Aggarwal

Course Contact Phone: +61 3 9925 5733

Course Contact Email: ian.nash@rmit.edu.au & meetu.aggarwal@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Douglas Brien

douglas.brien@rmit.edu.au

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

This unit describes the performance outcomes, skills and knowledge required to gather, record and analyse operating and cost data, prepare budget reports and review costing systems integrity to calculate and record the costs of products and services. This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.





 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC507A Provide management accounting information

Element:

1.  Gather, evaluate and use management information

Performance Criteria:

 1.1.     Systems to generate data are identified and established

 

1.2. Data are systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures

Element:

2.  Analyse data

Performance Criteria:

 2.1.    Costs are assigned to specified products, services and organisational units and data is reconciled to ensure calculations are accurate and comply with organisational procedures

  2.2. Interpretation of revenues and costs is supported by valid analysis and is consistent with the organisation’s business performance objectives

Element:

3.  Prepare budgeted reports

Performance Criteria:

4.1.   The variance between actual and applied overheads costs is analysed

 

4.2. Variance analysis is used to review the effectiveness of the cost assignment process

Element:

4. Review costing systems integrity

Performance Criteria:

3.1.      Cost information advice is sought from all sections of the organisation when formulating budgets

3.2.      Structure and format of budgets and reports are clear and conform to management information requirements

3.3.      Variances against budget are identified and prioritised for review and decision making

3.4. Reports are error free, comprehensive and comply with management requirements and organisational practice


Learning Outcomes



Details of Learning Activities

FULL TIME STUDENTS

Primarily you will be learning on a face to face basis with the support of an online course site for dissemination of materials and some assessment. Students will be expected to attend four hours of class each week. Students will be introduced to the accounting theory, which will then be supported by practical illustrations. Students will complete exercises to reinforce their understanding of the material. Solutions will be available on the learning hub.
 

PART TIME STUDENTS

Your learning experience will be a mix of face to face learning and online. Students will be expected to attend 14  two hour classes across the 16 week semester. There will be 2 sessions that students can complete in their own time.  Students will be expected to review the notes prior to coming to class. Each class will then focus on a demonstration of the practical application of the theory. (e.g. case studies). Students will be expected to complete all the exercises in their own time. Solutions will be available on the learning hub.


Teaching Schedule

Teaching Schedule Full Time Students  (This schedule maybe subject to change. Students will be advised of changes in class and on blackboard)

Week Class AssessmentsAssessments to be completed in your own time
1Introduction to course including review of Provide Job Costing Information, course guide, RPLs and use of Blackboard.  
2Budgets   
3Budgets   
4Budgets   
5

Test on Budgets

Variable Costing

Assessment 1 
6

Variable Costing

Absorption Costing
 

  
7

Absorption Costing

Standard Costing

  Assessment 2, Part 1
8Standard Costing  
 Mid Semester Break  
9

Standard Costing

Test on Standard Costing

Assessment 3, Part 1

 

 
10ABC Costing  
11

ABC Costing
Cost/Volume/Profit (Break Even)

 Assessment 2, Part 2
 
12Responsibility Accounting               
13Responsibility Accounting Assessment 2, Part 3
14Differential Accounting  
15

Differential Accounting

Test on Differential Accounting and Responsibility Accounting

Assessment 3, Part 2 
16Reassessment WeekAssessment 2  interviews if deemed necessary 

 

 Teaching Schedule Part Time Students (This schedule maybe subject to change. Students will be advised of changes in class and on blackboard)
 

Week  Class  AssessmentsAssessments to be completed in your own time
1

Introduction to course including review of Provide Job Costing Information, course guide, RPLs and use of the Blackboard

  
2 & 3
Budgets
 
  
4NO CLASS.  Students will complete their budget exercises  
5Budget Tests Assessment 1 
6Variable Costing  
7Absorption Costing Assessment 2, Part 1
8Standard Costing  
 MID SEMESTER BREAK  
9Test on Standard CostingAssessment 3, Part 1 
10ABC Costing  
11Responsibility Accounting Assessment 2, Part 2
12Responsibility Accounting  
13Differential Accounting  
14

NO CLASS. Students will complete the Cost/Volume/Profit (Break Even) topic in their own time

 Assessment 2, Part 3
15

Test on Differential Accounting and Responsibility Accounting

Assessment 3, Part 2 
16ReassessmentsAssessment 2 interviews if deemed neccessary 


 


 


Learning Resources

Prescribed Texts

Management Accounting Principles and Applications (Hart and Wilson) 5th Edition


References


Other Resources

Relevant learning resources will be placed on the learning hub. Students will need to access the appropriate topic folders on this site, on a weekly basis and bring them to class. It will be expected that students will need to complete some weekly tasks in their own time.


Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress
 


Assessment Tasks

This course is clustered (co-delivered and co-assessed) with ACCT5312C Manage Budgets and Forecasts unit.

Students MUST complete all three assessment tasks and gain competency in ALL sections

Assessment 1 - is a closed book in class individual test on the budgeting topic. Budgets may be for a retail, service of manufacturing business.

Assessment 2 - This is a progressive online assessment. Students will be required to complete 3 individual online sections across the semester. Students must achieve a grade of 100% for each part of the assessment to achieve competency. They will have an unlimited number of attempts to do each section. Students may be interviewed to verify their competency in any section of assessment 2. Students will be given an opportunity to redo the assessment in week 16 in class if they did not complete in the original time frame


Part 1 Students will demonstrate an understanding of Variable and Absorption Costing Techniques To be completed in your own time
Part 2 Students will demonstrate an understanding of ABC Costing Techniques To be completed in your own time
Part 3 Students will demonstrate an understanding of CVP Analysis Techniques To be completed in your own time

Assessment 3 - This is a two part in class individual test.

Part 1. This section will test standard costing analysis. This will be an open book test.

Part 2. This section will test differential and responsibility accounting. This will be closed book test.

Submission requirements

• Ensure that you submit assessments on or before the due date. 


Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates. If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days. More Information: http://www.rmit.edu.au/students/assessment/extension. Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination. More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf


Resubmissions (VET Programs):
If you are found to be Not Yet Competent in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31


Assessment Matrix

Other Information

NOTE: ACCT5312C Manage Budgets and Forecasts and ACCT5314C Provide Management Accounting Information are taught and assessed concurrently. PLEASE ENSURE THAT YOU ARE ENROLLED IN BOTH COMPETENCIES. Failure to enrol will mean you cannot finish your programme in the current semester as your teacher will not be able to allocate a mark for a course you are not enrolled in.

Course Overview: Access Course Overview