Course Title: Provide management accounting information

Part A: Course Overview

Program: C5390 Diploma of Accounting

Course Title: Provide management accounting information

Portfolio: BUS Portfolio Office

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.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5429C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

Term1 2019,
Term2 2019

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

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



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 system 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 Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSACC517 Provide management accounting information

Elements:

1. Gather and record operating and cost data

2. Analyse data and assign costs

3. Prepare cost reports and budgets

4. Analyse variances and review costing system integrity


Learning Outcomes


Overview of Assessment

Performance Evidence

Evidence of the ability to:

  • gather and record operating and cost data according to 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.

 

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

 

Knowledge Evidence

The candidate must be able to demonstrate the following knowledge to effectively complete the tasks outlined in the elements and performance criteria of this unit, and to manage tasks and reasonably foreseeable contingencies in the context of the work role.

  • Cost behaviour characteristics for different cost elements of a product or service
  • Key features of organisational policies and procedures as they apply to costing systems
  • Key requirements of management accounting information
  • Key principles and practices of budget preparation
  • Relationship between variance analysis and costing system integrity

 

Assessment Conditions

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

  • office equipment, technology, software and consumables required to prepare cost reports and budgets, including:
  • an integrated financial software system and data.

 

Assessors of this unit must satisfy the assessor requirements in applicable vocational education and training legislation, frameworks and/or standards.

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.