Course Title: Produce job costing information

Part B: Course Detail

Teaching Period: Term1 2014

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

 Anjella Davydov

anjella.davydov@rmit.edu.au

Jenny Seiler

jenny.seiler@rmit.edu.au

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 Blackboard, 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.

Several document camera sessions have been recorded for the major practical tasks illustrating HOW TO answer a selected example question.  They will be particularly useful if you are absent from a scheduled class at any time.  The sessions run for approximately 10-20 minutes and work through the answer to the question. They are accessed via Blackboard and located under each topic folder.


Teaching Schedule

Weekly Program and Assessment Guide COSC6164C 2014

Week DateTutorial Topic as per Student Learning GuideLearning outcomes
1 Feb 10

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

 

N/A
 
2 Feb 17Topic 1. Introduction
Topic 2. Terminology
 
An understanding of the costing definitions
 
3 Feb 24Topic3 . Inventory ManagementAn understanding of why Inventory Management is important to a business
 
4 March 3Topic4. Inventory Management
Topic5. Inventory Management-(Purchasing
and storage)
 
Control steps for proper management of the purchasing and storage functions
5 March 10Topic 6. Materials Control
 
An understanding of the Internal control processes needed for the proper management of materials
6 March 17Topic.6a Materials AccountingComplete the accounting entries in journals and ledgers
7 March 24Topic 7. Labour Control
Topic 8. Labour Accounting 

 
Preparation of Labour cost information for processing through the accounting system
8 March 31Topic 7. Labour Control
Topic 8. Labour Accounting
 
Preparation of Labour cost information for processing through the accounting system
9 April 7

 Test 1

 Test1 covering Introduction, Inventory and Labour topics.Topics 1-6

 

10 April 14

Easter vacation (April17-23)

 

 Topic 9. Accounting for Manufacturing
overhead
 

Complete accounting entries for the control of Manufacturing Overhead
 
10 April 21

 Easter vacation (April 17-23)

 Topic10. Job costing

  Produce Job costing data for processing through the accounting system
 
11 April 28Topic10. Job costing for service Organisations

Produce Job Costing Information for service business

Assignment due

12 May 5Topic11. Manufacturing StatementsProduce the alternative formats for Manufacturing Statements
13 May 12Topic11. Manufacturing Statements continued Produce the alternative formats for Manufacturing Statements
14 May 19Review of topics 9-11 
15 May 26 Test 2 Test 2 covering the remainder of the program (topics 9,10,11)
16 May 26Retests Student retests
     
   FLEX ED PROGRAM   
1 Feb 10Topic. Introduction to course including review
of course guide, weekly program and
assessment guide and use of the DLS

 

Class attendance

Read Topic 1 and 2 class notes from Blackboard files

Do ST qns 1.1-1.8 from text

Qns: 1.3-1.7, 1.16-1.17 from text
 

2 Feb 17Topic 1. Introduction
Topic 2. Terminology
Self directed learning completing qns from week 1
3 Feb 24Topic 3 . Inventory ManagementClass attendance

Review topics 1 and 2

Read topics 3--6

Do qns

ST 3.1-3.2, 4.3-4.5

Qns 3.1-3.3, 3.7-3.8

 

4 Mar 3Topic 4. Inventory Management
Topic 5. Inventory Management-(Purchasing
and storage)
 
Self directed learning

complete qns as per week 3
 

5 Mar 10Topic 6. Materials Control
 
Class attendance

Review of topics 3-6

Read topics7-8 from Blackboard
 

6 Mar 17Topic.6a Materials AccountingSelf directed learning

Read topics 7-8 on Blackboard

Do qns 5.2-5.7 from textbook
 

7 Mar 24Topic 7. Labour Control
Topic 8. Labour Accounting

 

Class attendance

Review topics 7-8

Do qns 5.2-5.7 form text

Review of topics so far in preparation for test 1
 

8 Mar 31Topic 7. Labour Control
Topic 8. Labour Accounting
Collaboration Exercise
9 Apr 7 Test 1
 
Class attendance:

Test 1 covering Introduction, Inventory and Labour topics.

 

10 Apr 14

 

Easter vacation (April17-23)

Topic 9. Accounting for Manufacturing
overhead
 

Self directed learning

Read topics 9-9(f) from Blackboard

Do qns 6.1, 6.2,.6.4, 6.20, 6.30, 6.24, 6.26 from text
 

10 Apr 21

 

Easter vacation (April17-23)

Topic10. Job costing
 

Self directed learning

Read topics 9-9(f) from Blackboard

Do qns 6.1, 6.2,.6.4, 6.20, 6.30, 6.24, 6.26 from text
 

11 Apr 28Topic10. Job costing for service OrganisationsAssignment due

Class attendance

Review topic and questions from week 10 above
 

12 May 5Topic11. Manufacturing StatementsSelf directed learning

Read topic10 from Blackboard

Do qns 8.1, 8.2, 8.3, 8.7, 8.9, 8.12
 

13 May 12Topic11. Manufacturing Statements continuedClass attendance

Review of topic 10

Read topic 11 Manufacturing statements

Do qns 2.1-2.4, 2.13, 2.14, 2.12
 

14 May 19Review of topics 9-11Collaboration exercise (to be advised)
15 May 26Test 2Class attendance

Test 2

16 June 2RetestsClass attendance for students Retests


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.


NB: For online collaborate session please ensure you have JAVA installed on your computer https://java.com/en/download/index.jsp AND a HEADSETand MICROPHONE


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  This Test will be open book with students able to access their Textbook

Test two:    Topics covering overhead, job costing for both manufacturing and service businesses and manufacturing statements.  This test will br closed book with no reference material to be accessed 

        

Assignment:  Assignment preparing a Manufacturing  budget both manually and then done using  Excel.

The other assessment tasks are detailed in the co delivered competency Design and Produce Business Documents

Overview of Assessment:
To be deemed competent, students must demonstrate an understanding of all elements of the two competencies.
Assessment methods have been designed to measure achievement of each competency in a flexible manner
over multiple tasks. 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.

Assessment Tasks:
The following range of assessment methods will be used to assess practical skills and knowledge as part of
this program:
1. Evaluating an integrated activity which combines the elements of competency for the unit or related units
of competency;
2. oral or written questioning on underpinning knowledge and skills which may include formal examinations;
3. evaluating samples of work;
4. direct questioning combined with review of evidence;
5 review of final printed documents;
6 demonstration of techniques; and
7. oral or written questioning to assess knowledge of software applications.
Assessment Tasks
You are required to complete all assessment tasks successfully  to be deemed
competent in this cluster. The  assessment tasks are as follows:


• Send a message (with attachments) to their teacher using email technology.
• Prepare a report to Management on Budget versus actual results using WORD or POWERPOINT or both
• Complete a Manufacturing budget manually and electronically using EXCEL
• Prepare a linked document showing the Job cost allocation summary linked to the Manufacturing Ledger accounts (EXCEL)
• Complete a set of Stock cards using EXCEL
• Complete an exercise using reorder points to calculate stock orders required using IF statements in EXCEL
• Design a Tax Invoice document using WORD


Assessment Matrix

You should:
• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by
unexpected circumstances, you should consider applying for Special Consideration. Information on the process and
application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• Always retain a copy of your assessment tasks (hard copy and 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 work for assessment 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.
Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the
workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a
system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are
competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed
to traditional curriculum based education settings that are often based on knowledge retention.
You need to demonstrate you are competent in each element of the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you whether you are competent or not and how well
you are performing.

Once competent in all elements of the unit you receive a competency grading.
Please refer to the Final Grades table below.
Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the
level of your performance formally recognized against industry standards and employability skills.

ONLY ONE OPPORTUNITY EXISTS TO DO A RETEST OR RESUBMISSION OF OTHER ASSESSMENTS.


The grading is according to the following criteria:


1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK
We are looking for a high level of ability to complete all tasks independently as per the specifications as well as
demonstrating a high level of initiative in your approach to establishing an maintaining a payroll system, performing

2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE
LEARNING
We are looking for depth of understanding of the key concepts and knowledge required in establishing an maintaining
a payroll system, performing financial calculations and designing and producing business documents. You should be
able to demonstrate a thorough understanding of all applicable performance criteria in all the assessment tasks.

3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended
audience. You also need to show an understanding of the kinds of problems that can arise in establishing an
maintaining a payroll system, performing financial calculations and designing and producing business documents and
how these might be addressed.

4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
We expect to see students organise and plan their work schedule effectively and be able to self manage them time
both in-class and when undertaking self-directed learning. We also expect the timely completion and submission of all
required assessment tasks.

5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
We expect to see contributions to relevant discussions during scheduled sessions. In addition your tasks should
demonstrate a very good understanding of the elements of establishing an maintaining a payroll system, performing
financial calculations and designing and producing business documents.
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

Other Information

NB:  For online collaborate session please ensure you have JAVA installed on your computer https://java.com/en/download/index.jsp AND a HEADSETand MICROPHONE 

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: http://www.rmit.edu.au/students/assessment/extension
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
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

Course Overview: Access Course Overview