Course Title: Produce job costing information

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: COSC6163C

Course Title: Produce job costing information

School: 650T TAFE Business

Campus: City Campus

Program: C4324 - Certificate IV in Accounting

Course Contact : Ian Nash

Course Contact Phone: 99255733

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

None

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:

FNSACC407A Produce job costing information

Element:

1. Gather and record operating and cost data

 

 

 

Performance Criteria:

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

Element:

2. Produce cost reports

Performance Criteria:

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


Learning Outcomes


The following Learning Outcomes are required:

• demonstrate knowledge of organisational operating procedures
• demonstrate knowledge of relevant legislation
• demonstrate knowledge of standard accounting principles and practices
• gather and record operating and costs data
• produce cost reports
 


Details of Learning Activities

Students will use the notes on the Learning hub, Textbook and suggested questions to assist their learning.  Some of the work will directly be complementd by using Excel worksheets to complete the exercise.  This incorporates the competency Design and Produce Business Documents


Teaching Schedule

Weekly Program and Assessment Guide [COSC6163C 2013]

WeekTutorial Topic as per Student Learning GuideLearning outcomes
1

Topic. Introduction to course including review
of course guide, weekly program and
assessment guide and use of the DLS
 

N/A
 
2Topic. Introduction
Topic. Terminology
 
An understanding of the costing definitions
 
3Topic. Inventory ManagementAn understanding of why Inventory Management is important to a business
 
4Topic. Inventory Management
Topic. Inventory Management-(Purchasing
and storage)
 
Control steps for proper management of the purchasing and storage functions
5Topic. Materials Control
Topic. Materials Control
 
An understanding of the Internal control processes needed for the proper management of materials
6Topic. Materials AccountingComplete the accounting entries in journals and ledgers
7Topic. Labour Control
Topic. Labour Accounting
MID SEMESTER BREAK (28/03/13– 03/04/13)
 
Preparation of Labour cost information for processing through the accounting system
7MID SEMESTER BREAK (28/03/13– 03/04/13)
Topic. Labour Control
Topic. Labour Accounting
 
Preparation of Labour cost information for processing through the accounting system
8ASSESSMENT WEEK (Test No 1)

 

Test1 covering Introduction, Inventory and Labour topics.
9Review of Test No 1
Topic. Manufacturing Overhead Control

 

Complete accounting entries for the control of Manufacturing Overhead
10Topic. Accounting for Manufacturing
overhead
 
Complete accounting entries for the control of Manufacturing Overhead
11Topic. Job costingProduce Job costing data for processing through the accounting system
ASSIGNMENT
 
12Topic. Job costing for service OrganisationsProduce Job Costing Information for service business
13Topic. Manufacturing StatementsProduce the alternative formats for Manufacturing Statements
14Topic Capital Expenditure EvaluationDifferent methods to evaluate benefits of new projects.
ASSIGNMENT DUE
 
15ASSESSMENT WEEKTest 2 covering the remainder of the program
16Retests 


Learning Resources

Prescribed Texts

Management Accounting Principles and Applications.   Hart, Fergus and Wilson


References


Other Resources

Online learning materials can be accessed by going to the RMIT website where there is a link to online Learning hub.  The Material comprises Power point slides and related student notes for each topic.


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, 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
 


Assessment Tasks

Test one:   Topics covering introductory terminology, inventory and also labour   (40% weighting for final assessment)

Test two:    Topics covering overhead, job costing for both manufacturing and service businesses and manufacturing statements (40% weighting for final assessment)
 

Assignment:  Assignment preparing costing data in Excel and a report using word documentation  (20% weighting for final assessment)


Assessment Matrix

Course Overview: Access Course Overview