Course Title: Prepare and analyse management accounting information

Part B: Course Detail

Teaching Period: Term2 2016

Course Code: ACCT5392C

Course Title: Prepare and analyse management accounting information

School: 650T Vocational Business Education

Campus: City Campus

Program: C6148 - Advanced Diploma of Accounting

Course Contact: Ben Sethia

Course Contact Phone: +61 3 9925 5982

Course Contact Email: ben.sethia@rmit.edu.au

Name and Contact Details of All Other Relevant Staff

Name:     Meetu Aggarwal

Phone:     9925 1621

E-mail:     meetu.aggarwal@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 skills and knowledge required to gather, record and analyse operating costs and data, prepare cost reports and budgets, and calculate the costs of products, services and other organisational activities.

It applies to individuals who use specialised knowledge and techniques to consolidate and report on complex information and make recommendations relating to strategic organisational activity.

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:	FNSACC613 Prepare and analyse management accounting information
Element:	1. Gather and record operating and cost data
Performance Criteria:	1.1 Establish systems to generate operating and cost data, and determine cost and operating standards 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 to identify cost behaviour characteristics 2.2 Assign costs to specified cost objects, 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 objectives
Element:	3. Prepare cost reports and budgets
Performance Criteria:	3.1 Obtain cost information and relevant advice from all sections of organisation when formulating reports and budgets 3.2 Ensure structure and format of reports and budgets are clear, comprehensive and comply with management information requirements
Element:	4. Analyse cost reports and budgets, and review costing system integrity
Performance Criteria:	4.1 Calculate variances against budget and standards, and prioritise for review and decision making 4.2 Interpret and discuss variances against budget in consultation with relevant personnel in organisation 4.3 Assess outcomes from variance reviews to make recommendations for further actions where required, including revisions to cost and activity standards 4.4 Review cost and process information for value adding and non-value adding activities, and make recommendations for further actions 4.5 Assess cost reports and budgets on specified products, services, projects, organisational units, customers, market segments and other cost objects against organisation’s objectives, and make recommendations for further actions 4.6 Use comprehensive variance analysis to review effectiveness of cost assignment processes

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 assessments. 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 lllustrations. 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 12 two hour classes, 2 blackboard collaboration sessions and 2 sessions can be completed in their own time. Students will be expected to review the notes prior to coming to class. Each class then focus on a demonstration of the
practical application of the theory ie 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

 The Teaching Schedule for this course is as follows: 

Induction Session

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

• Program  overview and requirements
• MyRMIT/Blackboard
• Overview of assessment requirements
• Pre-Training Review including:

o    Recognition of Prior Learning and Credit Transfers

o    Assessment of current skills and knowledge

• Competency/Grading Criteria
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
• Where to get support
• Student responsibilities

Course delivery:

Full time students: 

Students will be expected to attend three hours of class each week. Students will be introduced to the management accounting theory, which will then be supported by practical illustrations. Students will complete exercises to reinforce their understanding of the material.

 

Week	Week Beginning		Class assessments	Assessments to be completed in your own time
1	04/07/2016	Introduction to course including course guide, RPLs and use of Blackboard.   Introduction to Management Accounting- Chapter 1 Exercises Q7 to Q13
2	11/07/2016	Differential/Relevant Costing- Chapter 10 Exercises Q13 to Q19
3	18/07/2016	Differential/Relevant Costing- Chapter 10 Exercises Q13 to Q19   Long Term- capital investment decisions- Chapter 11 Exercises Q1 to Q17
4	25/07/2016	Long Term- capital investment decisions- Chapter 11 Exercises Q1 to Q17
5	01/08/2016	Assessment 1 Online quiz (Based on Chapter 10 and 11)   Activity Based Costing- Chapter 8 Exercises Q10 to Q13   Discussion on case study	Assessment 1 Part 1 Online quiz (Based on Chapter 10 and 11)
6	08/08/2016	Introduction to Activity Based Management (Blackboard notes)
7	15/08/2016	Introduction to Activity Based Management (Blackboard notes)
8	22/08/2016	Introduction to Activity Based Management (Blackboard notes)		Assessment 2-Submission of case study based on Activity based costing and management
		Mid semester Break
9	05/09/2016	Fixed and Rolling budgets for planning and decision making- Chapter 12 Exercises Q14 to Q20
10	12/09/2016	Mgt. accounting for cost control & performance evaluation- Chapter 13 Exercises 1 to 17
11	19/09/2016	Mgt. accounting for cost control & performance evaluation- Chapter 13 Exercises 1 to 17
12	26/09/2016	Balance Scorecard- Chapter 14 Exercises 1 to 17
13	03/10/2016	Balance Scorecard- Chapter 14 Exercises 1 to 17
14	10/10/2016	Accounting for sustainability- Chapter 15 Exercises 1 to 14
15	17/10/2016	Assessment 3, In class test on Chapter 12 to 15	Assessment 1 Part 2, In class online quiz on chapter 12 to 15
16	24/10/2016	Reassessment week

 

 

Part Time students: 

 

Week	Week Beginning		Class assessments	Assessments to be completed in your own time
1	04/07/2016	Introduction to course including course guide, RPLs and use of Blackboard.   Introduction to Management Accounting- Chapter 1 Exercises Q7 to Q13
2	11/07/2016	Differential/Relevant Costing- Chapter 10 Exercises Q13 to Q19
3	18/07/2016	Differential/Relevant Costing- Chapter 10 Exercises Q13 to Q19   Long Term- capital investment decisions- Chapter 11 Exercises Q1 to Q17
4	25/07/2016	Long Term- capital investment decisions- Chapter 11 Exercises Q1 to Q17
5	01/08/2016	Assessment 1 Online quiz (Based on Chapter 10 and 11)   Activity Based Costing- Chapter 8 Exercises Q10 to Q13   Discussion on case study	Assessment 1 Part 1 Online quiz (Based on Chapter 10 and 11)
6	08/08/2016	Introduction to Activity Based Management (Blackboard notes)
7	15/08/2016	Introduction to Activity Based Management (Blackboard notes)
8	22/08/2016	Introduction to Activity Based Management (Blackboard notes)		Assessment 2-Submission of case study based on Activity based costing and management
		Mid semester Break
9	05/09/2016	Fixed and Rolling budgets for planning and decision making- Chapter 12 Exercises Q14 to Q20
10	12/09/2016	Mgt. accounting for cost control & performance evaluation- Chapter 13 Exercises 1 to 17
11	19/09/2016	Mgt. accounting for cost control & performance evaluation- Chapter 13 Exercises 1 to 17
12	26/09/2016	Balance Scorecard- Chapter 14 Exercises 1 to 17
13	03/10/2016	Balance Scorecard- Chapter 14 Exercises 1 to 17
14	10/10/2016	Accounting for sustainability- Chapter 15 Exercises 1 to 14
15	17/10/2016	Assessment 3, In class test on Chapter 12 to 15	Assessment 1 Part 2, In class online quiz on chapter 12 to 15
16	24/10/2016	Reassessment week

 

 

Learning Resources

Prescribed Texts

ACCT2 Managerial, Sivabalan, Sawyers, Jackson, Jenkins, 2nd edition, Cengage learning

9780170350358

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

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
• determine cost and operating standards for a costing system
• analyse data and assign costs to comply with organisational procedures
• prepare a range of cost reports and budgets to meet management information requirements
• analyse variances against budget and standards
• recommend changes to cost and activity standards
• recommend further actions required resulting from review process
• review integrity of costing systems

 

Knowledge Evidence

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

• identify and describe cost behaviour characteristics for the different cost elements of a product or service
• describe the principles of double-entry bookkeeping and accrual-based accounting
• identify and discuss the key features of organisational policy and procedures as they apply to costing systems
• 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:

• 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

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.

Purpose of the assessments

The purpose of the assessment tasks is to test if the students have the skills and knowledge required to gather, record and analyse operating costs and data, prepare cost reports and budgets and calculate the costs of products, services and other organisational activities. It applies to individuals who use specialised knowledge and techniques to consolidate and report on complex information and make recommendations relating to strategic organisational activity. 

Assessment Tasks:

Students must complete all the two assessment tasks and gain competency in ALL sections.

 

 

ASSESSMENT 1 (Due Date: WEEK 5 and 15)

An online test will be scheduled during the semester. This test will consist of MCQ (multiple choice questions) and True/False questions taken from “ACCT2 Managerial”, 2nd edition textbook. The students will be allowed multiple attempts to attain competency. This test is competency based and a CA (competent) must be achieved for each assessment. The assessment will be graded (once competency is achieved) according to the grading policy for assessments those being, CAG (competent), CC (Credit), CDI (Distinction) or CHD (High Distinction).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 Relevant costing technique and long term investment decisions topic- To be completed in class.

 

Part 2- Students will demonstrate an understanding of the contents covered from 

Chapter 12 to 15.

ASSESSMENT 2 (Due Date: WEEK 8) 

Case Study 

All students will be divided in groups of 2. They will be given a case study based on Activity based costing and Activity based Management. Each team will prepare a report with their workings attached on Excel. Also each team will present a ten minute presentation in class based around what they have learned, as a “snapshot “only. This assessment is competency based and a CAG (competent) must be achieved for this assessment. The assessment will be graded (once competency is achieved) according to the grading policy for assessments those being, CAG (competent), CC (Credit), CDI (Distinction) or CHD (High Distinction).

 

Submission requirements

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

Always retail a copy of your assessment tasks, Hard copy and the 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 blackboard.

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, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

 

Late Submission Procedures

 

 

 

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 (unresolved)

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

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.

Assessment Matrix

Other Information

 

 

 

Course Overview: Access Course Overview