Course Title: Provide management accounting information

Part B: Course Detail

Teaching Period: Term1 2018

Course Code: ACCT5382C

Course Title: Provide management accounting information

School: 650T Vocational Business Education

Campus: City Campus

Program: C5374 - Diploma of Accounting

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Name:    Meetu Aggarwal

Phone:    9925 1621

Email:     meetu.aggarwal@rmit.edu.au

Contact hours: Tuesday to Friday between 9:30am to 3pm

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

There are no pre-requisites for this unit.

Course Description

This unit describes the 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.

It applies to individuals who use specialised knowledge and analytical skills to manage complex financial data and develop comprehensive organisational reports.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC507 Provide management accounting information

Element:

1. Gather and record operating and cost data

Performance Criteria:

1.1 Identify and establish systems to generate operating and cost data
1.2 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures

Element:

2. Analyse data and assign costs

Performance Criteria:

2.1 Analyse costs and identify cost behaviour characteristics
2.2 Assign costs to specified products, services and organisational units, and reconcile data to ensure calculations are accurate and comply with organisational procedures
2.3 Ensure interpretation of revenues and costs is supported by valid analysis and is consistent with organisation’s business performance objectives

Element:

3. Prepare cost reports and budgets

Performance Criteria:

3.1 Obtain cost information advice from all sections of organisation when formulating cost reports and budgets
3.2 Ensure structure and format of budgets are clear and comply with management information requirements and organisational practices

Element:

4. Analyse variances and review costing system integrity

Performance Criteria:

4.1 Calculate and analyse variances against budget
4.2 Ensure reports are accurate, comprehensive and comply with management information requirements and organisational practices
4.3 Use variance analysis to review effectiveness of cost assignment processes


Learning Outcomes



Details of Learning Activities

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 assessments. Students will be expected to attend 3 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 management system, Canvas.


Teaching Schedule

Induction Session


Prior to training commencement a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • MyRMIT/Canvas
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities 

 

FULL TIME STUDENTS-  Please note that this is the nominated unit for Global WIL Projects. These projects will run subject to the making of suitable arrangements with our overseas partnering institutions.

When participating in such a project, you will work in virtual teams and communicate with students from other institutions in other parts of the world, across different time zones to simulate what is happening in today's global workplace. You will also develop a deeper understanding of cultural differences and how this influences communication and team work—while gaining valuable experience which will prove advantageous when seeking employment.

The teaching schedule for this course is shown in the table below. It intentionally does not include the schedule for any Global WIL project because its timing cannot be determined prior to the start of semester.

Given different academic calendars of our partnering institutions in other countries, and our different availabilities, it sometimes happens that we cannot run such a project in a particular semester. In that event your schedule should be as below. 

On the other hand, if we are able to run the Global WIL project this semester, then there will be some changes to the weekly schedule in order to accommodate that project, and you will notified in advance of that occurring.

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this course.  This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

 

Week

Week Beginning

 

Class assessments

Elements and Performance Criteria

1

05/02/2018

Introduction to course including course guide, RPLs and use of Blackboard.

 

Introduction to Management Accounting- Chapter 1

Exercises Q1 to Q7

 

 

 

2

12/02/2018

Cost Behaviour- Absorption and Variable Costing- Chapter 3

Exercises Q1 to Q13, Q16 to Q18

 

 

 

3

19/02/2018

Cost Behaviour- Absorption and Variable Costing- Chapter 3

Exercises Q1 to Q13, Q16 to Q18

 

 

 

4

26/02/2018

Activity Based Costing- Chapter 8

Exercises Q1 to Q9

 

Online quiz (Based on Chapter 1 and 3)

Students who will miss, will do in week 5

 

5

05/03/2018

Activity Based Costing- Chapter 8

Exercises Q1 to Q9

 

 

 

6

12/03/2018

Activity Based Costing- Chapter 8

Exercises Q1 to Q9

 

Cost Volume profit analysis - Chapter 9

Exercises Q1 to Q19

 

 

 

7

19/03/2018

Cost Volume profit analysis - Chapter 9

Exercises Q1 to Q19

 

 

 

8

26/03/2018

Cost Volume profit analysis - Chapter 9

Exercises Q1 to Q19

 

 

 

 

29 March to 4 April, 2018

Break

Break

 

9

09/04/2018

Differential/Relevant Costing- Chapter 10

Exercises Q1 to Q12

 

Assessment 1

Case study submission

Results will be released by the end of week 11 and Resubmissions will be in week 12.

E1, E2, E3.1, E4.2 and 4.3

10

16/04/2018

Differential/Relevant Costing- Chapter 10

Exercises Q1 to Q12

 

 

 

11

23/04/2018

Differential/Relevant Costing- Chapter 10

Exercises Q1 to Q12

 

Fixed and Rolling budgets for planning and decision making- Chapter 12

Exercises Q1 to Q11, Q13

 

 

 

12

30/04/2018

 

Fixed and Rolling budgets for planning and decision making- Chapter 12

Exercises Q1 to Q11, Q13

 

 

 

13

07/05/2018

Fixed and Rolling budgets for planning and decision making- Chapter 12

Exercises Q1 to Q11, Q13

 

Responsibility Accounting-

Blackboard notes

 

 

 

14

14/05/2018

Responsibility Accounting-

Blackboard notes

 

 

 

15

21/05/2018

Assessment 2

Assessment 2, In class test on 10, 12 and Responsibility Accounting

E1 to E4 except 4.2

16

28/05/2018

Resits for assessment 2

 

 

 

Students will be expected to attend three 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.

Mid semester break will be from 29 March 2018 to 4 April, 2018. Classes will resume from 05/04/2018.


Learning Resources

Prescribed Texts


References

ACCT2 Managerial, Sivabalan, Jackson, Jenkins, 2nd edition, Cengage Learning

9780170350358


Other Resources

Relevant learning resources will be placed on the learning management system, Canvas. 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

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • gather and record operating and cost data in accordance with organisational policy and procedures
  • analyse data and assign costs to products, services and organisational units to comply with organisational procedures
  • obtain data and prepare a range of cost reports and budgets to meet management information requirements
  • analyse variances between budgeted and actual data, and review integrity of costing systems

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • describe the principles of double-entry bookkeeping and accrual based accounting
  • identify and describe cost behaviour characteristics for the different cost elements of a product or service
  • identify and discuss the key features of organisational policy and procedures as they apply to costing systems
  • outline the key management information requirements
  • identify and explain the key principles and practices of budget preparation
  • discuss the relationship between variance analysis and costing system integrity
  • explain the key processes and procedures for recording and securely storing data

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

  • a range of common office equipment, technology, software and consumables
  • an integrated financial software system and data

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. 


Assessment Tasks

Overview of Assessment

You are required to complete 2 assessment tasks and gain competency in both of them.

ASSESSMENT 1 (Due Date: WEEK 9)

All students will be divided in groups of two and will be given a case study based on Cost behaviour, ABC and CVP analysis. Each team will prepare a report with their workings attached on Excel. Also each team will present a 5 minute PowerPoint presentation in class based around what they have learned, as a “snapshot “only.

ASSESSMENT 2 (Due Date: WEEK 15)

It will be an online close book test on MS Excel and will be conducted in class. Differential costing, Budgets and Responsibility accounting topics will be tested through this. Budgets may be of retail, service or a manufacturing business.

 

Note: In circumstances where Global WIL Project will be running, the assessments mentioned above can change. The students will be notified of the changes in advance.


Assessment Matrix

National Program Code and Name

FNS50215 Diploma of Accounting

Code & Name of Unit of Competency

FNSACC507 Provide Management and Accounting Information

  

No

Name of Assessment Task

Method of Assessment

Elements

Performance Criteria

Foundation Skills

Performance Evidence

Knowledge Evidence

Assessment Conditions

1.

Case Study

Questions

E1, E2, E3.1, E4.2 and 4.3

1-6

1-3

1-4 and 6

All

2.

Online assessment

Questions

E1 to E4 except 4.2

1, 2, 4-6

1 to 4

1-7

All

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Information

Submission Requirements

You should:

• Ensure that you submit assessments on or before the due date. 
• Always retain a copy of your assessment tasks. (hard copy and soft copy)
• When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on Canvas.
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Callie Harvey, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.


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: 

https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work


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: 

https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration



Resubmissions (VET Programs):


If you are found to be unsuccessful 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: 

https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment

 

Marking Guide (Competency):

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.


Marking Guide (Grading)

After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:

Final Grades table:


CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment


Further information regarding the application of the grading criteria will be provided by your teacher.

Course Overview: Access Course Overview