Course Title: Produce job costing information

Part B: Course Detail

Teaching Period: Term2 2008

Course Code: COSC5237C

Course Title: Produce job costing information

School: 650T TAFE Business

Campus: City Campus

Program: C4169 - Certificate IV in Financial Services (Accounting)

Course Contact : Ian Nash

Course Contact Phone: +61 3 9925 5733

Course Contact Email:ian.nash@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 40

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

This Unit of Competency is taught in conjunction with:
FNSACCT406A Maintain asset and inventory records [ACCT5196C]

Course Description

This unit covers the competency to calculate and record the job costs of products and services. This unit requires the application of skills and knowledge required to produce job costing information. The unit encompasses gathering and recording operating and cost data and producing cost reports. The unit has application to those job functions such as cost clerk.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT402A Produce job costing information

Element:

Gather and record operating and cost data

Performance Criteria:

Data is extracted from established systems
Data is systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures

Element:

Produce cost reports

Performance Criteria:

Costs are assigned to specified products and services
Data is reconciled to ensure calculations are accurate and comply with organisational procedures
Cost information advice is sought from all sections of the organisation when formulating budgets
Structure and format of budgets and reports are clear and conform to management information requirements
Variances against budget are identified
Reports are error free, comprehensive and comply with management requirements and organisational practices


Learning Outcomes


Please refer to Elements of Competency.


Details of Learning Activities

Students will be expected to complete the practical exercises selected from their text book and supplementary exercises provided, in class time and also devote time for completion of these exercises at home. Guideline notes covering key concepts for each element of competency will be provided on the DLS for student access. Students will be expected to read the prescribed text references in order to consolidate an understanding of WHY they are likely to use a particular method and not just HOW to apply that method.


Teaching Schedule

WeekWeek beginningTutorial Topic Assessment
 July 7Introduction to course including review
of course guide, weekly program and
assessment guide and use of the DLS
 
 July 14Introduction (cont)
Terminology
 
 July 21 Inventory Management(1) 
 July 28Stock Ledger card FIFO
Stock Ledger card WAC
 
 Aug 4Inventory Management-(Purchasing
and storage)
Materials Control
 
 Aug 11

Materials Accounting  
 Aug 18Labour Control 
Labour Accounting
 
 Aug 25ASSESSMENT WEEK Test1
 Sept 1MID SEMESTER BREAK 
 Sep 8Review of Test No 1
Manufacturing Overhead Control
 
 Sep 15Accounting for Manufacturing
overhead
 
 Sep 22Job costing 
 Sep 29Job costing 
 Oct 6Manufacturing Statements 
Cost Volume Profit Analysis
 
 Oct 13Fixed Asset Management
Capital Expenditure Evaluation
 
 Oct 20Topic Capital Expenditure Evaluation

 
 Oct 27ASSESSMENT WEEK Test 2
 Nov 3Retests 


Learning Resources

Prescribed Texts

Management Accounting Principles and Applications (Hart and Wilson) 3rd Edition


References

Relevant learning resources will be placed on the learning hub (DLS) progressively throughout the semester. Students will need to access this site on a weekly basis, print the materials and bring them to class. COPIES OF MATERIALS WILL NOT BE HANDED OUT IN CLASS


Other Resources


Overview of Assessment

The student must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.
Assessment will incorporate a variety of methods including technical requirements documentation, homework and in class exercises, written tests, practical problem solving exercises, presentations and practical tests. 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.

The written tests will focus on the student’s practical ability to solve problems and provide meaningful solutions to a set of questions asked of them for the work completed up to the time of the test. The exam is a test of the students overall understanding of and competency in the material presented and as such, to some extent, is an opportunity for students to demonstrate competency that may not have been initially shown in the two written tests.


Assessment Tasks

The student must demonstrate an understanding of all elements of a particular competency to be deemed competent. Assessment methods have been designed to measure achievement of each competency in a flexible manner over a range of assessment tasks.
Assessment will incorporate a variety of methods including technical requirements documentation, homework and in class exercises, written tests, practical problem solving exercises, a workbook and practical tests. 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.

The written tests will focus on the student’s practical ability to solve problems and provide meaningful solutions to a set of questions asked of them for the work completed up to the time of the test

The Assessment matrix includes the assessment for the other competency that is delivered with this course – Maintain asset and inventory records


Assessment Matrix

Course Overview: Access Course Overview