Course Title: Prepare and analyse management accounting information

Part B: Course Detail

Teaching Period: Term1 2019

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: 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

Course Coordinator:     Meetu Aggarwal

Phone:     9925 1621

E-mail:     meetu.aggarwal@rmit.edu.au

Student consultation:

Monday and Wednesday: 8:30 - 6pm

Thursday and Friday: 8:30 - 2:30pm

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

The following unit is a pre-requisite for this unit:

ACCT5382C Provide management accounting information

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

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 illustrations. Students will complete exercises to reinforce their understanding of the material. Solutions will be available on Canvas.

 


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/Canvas

·         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 Charter

 

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the 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 Beginning

 

Class assessments

Assessments to be completed in your own time

11/02/2019

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

 

Introduction to Management Accounting- Chapter 1

Exercises Q7 to Q13

 

 

 

18/02/2019

Process Costing Systems- Chapter 5

Exercises 1 to 15

 

 

 

25/02/2019

Process Costing Systems- Chapter 5

Exercises 1 to 17

 

 

 

04/03/2019

Service and Operations Costing- Chapter 6

Exercises 1 to 16

 

 

 

11/03/2019

Service and Operations Costing- Chapter 6

Exercises 1 to 16

 

 

 

18/03/2019

Assessment 1 Part 1

Online quiz (Based on topic 2 and 3 i.e.

Application of Process Costing Systems and Operations Costing)

 

Discussion on Case Study

Assessment 1 Part 1

Online quiz (Based on topic 2 and 3 i.e.

Application of Process Costing Systems and Operations Costing)

 

Resits will be done in week 7.

 

25/03/2019

Customer profitability Analysis

(Blackboard notes)

 

Resits for Assessment 1 part 1.

 

 

 

01/04/2019

Customer profitability Analysis

(Blackboard notes)

 

 

 

08/04/2019

Mgt. accounting for cost control & performance evaluation- Chapter 13

Exercises 1 to 17

 

 

 

 

 

15/04/2019

Mgt. accounting for cost control & performance evaluation- Chapter 13

Exercises 1 to 17

 

Team presentations for the case study

 

 

 

Assessment 2-Submission of case study based on Customer Profitability analysis.

Any feedback will be provided by week 12 and re-submissions can be done in week 13.

19/04/2019 to 26/04/2019

MID SEMESTER BREAK

MID SEMESTER BREAK

MID SEMESTER BREAK

29/04/2019

Mgt. accounting for cost control & performance evaluation- Chapter 13

Exercises 1 to 17

 

 

 

06/05/2019

Balance Scorecard- Chapter 14

Exercises 1 to 17

 

 

 

13/05/2019

Balance Scorecard- Chapter 14

Exercises 1 to 17

 

 

 

20/05/2019

Revision for Assessment 1 part 2

 

 

27/05/2019

Assessment 1 Part 2

Online quiz (Based on topics 5 and 6 i.e.

Demonstration of how the management uses different techniques for performance evaluation)

 

Assessment 1 Part 2

Online quiz (Based on topics 5 and 6 i.e.

Demonstration of how the management uses different techniques for performance evaluation)

 

 

03/06/2019

Resit for Assessment 1 part 2

 

 

 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.

Mid semester break will be from 19 April, 2019 to 26 April, 2019. Classes will resume from 29 April, 2019.

 

 

 

 


Learning Resources

Prescribed Texts


References

ACCT2 Managerial, Sivabalan, Sawyers, Jackson and Jenkins, 2nd edition, Cengage Publishers

9780170350358


Other Resources

Relevant learning resources will be placed on 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
  • 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

Students must get competency in all the assessment tasks in order to get a competency in this course. 

ASSESSMENT 1 (Due Date: WEEK 6 and 15)

Two online quizzes will be scheduled during the semester. These will consist of MCQ (multiple choice questions) and True/False questions. The students will be allowed single attempt to attain competency. These quizzes are competency based and a CA (competent) must be achieved for each quiz. 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 apply their knowledge gained for Process Costing Systems and Service and Operations Costing Systems- Topic 2 and 3- To be completed in class.

Part 2- Students will demonstrate how the management uses different techniques for performance evaluation - Topic 5 and 6 - To be completed in class.

 

ASSESSMENT 2 (Due Date: WEEK 10) 

Case Study 

All students will be divided in groups of 2. They will be given a case study based on Customer Profitability Analysis. They will assume that they are the Management Accountants of the organisation and each team will prepare a report with their workings attached on Excel. Also each team will present a 5 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).

Students can be asked to reproduce any of the assessment piece in front of their teacher.

 

 


Assessment Matrix

National Program Code and Name

FNS60215 Advance Diploma of Accounting

Code & Name of Unit of Competency

FNSACC613 Prepare and Analyse Management Accounting Information

  

No

Name of Assessment Task

Method of Assessment

Elements

Performance Criteria

Foundation Skills

Performance Evidence

Knowledge Evidence

Assessment Conditions

1.

Online Quizzes

Mutiple choice questions

E1 to E4

1, 2, 4 and 5

1-3 and 5

1-6

All

2.

Case Study

Questions

E1 to E4 except 4.1 and 4.2

1-7

1 to 7

1-3 and 5

All

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Information

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

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