Course Title: Produce job costing information

Part B: Course Detail

Teaching Period: Term1 2016

Course Code: COSC6189C

Course Title: Produce job costing information

School: 650T Vocational Business Education

Campus: City Campus

Program: C4366 - Certificate IV in 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

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 skills and knowledge required to calculate and record the job costs of products and services.

It applies to individuals who, within their area of responsibility, use specialised knowledge and analytical skills to prepare organisational information relating to financial data.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC407 Produce job costing information

Element:

2. Produce cost reports

Performance Criteria:

2.1 Assign costs to specified products and services
2.2 Reconcile data to ensure calculations are accurate and comply with organisational procedures
2.3 Obtain cost information advice from all sections of organisation when formulating budgets
2.4 Ensure structure and format of budgets and reports are clear and conform to management information and relevant legislative requirements
2.5 Identify variances against budget
2.6 Ensure reports are error free, comprehensive, and comply with management requirements and organisational practices

Element:

1. Gather and record operating and cost data

Performance Criteria:

1.1 Extract data from established systems
1.2 Systematically code, classify and check data for accuracy and reliability in accordance with organisational policy and procedures


Learning Outcomes



Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.

The self-paced activities will be delivered thought various technology platforms and include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.
 


Teaching Schedule

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:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities 

 The Teaching Schedule for this course is as follows but please note that it is subject to change.

     Week Week CommencingTopics                                                             Assessment   
 1 08/02/16Topic 1 Introduction to course including review of course guide, weekly program ,assessments schedule. Costing terminology 
 2 150/2/16 Topic 2 Terminology application 
 3 22/02/16 Topic 2 Inventory Management - purchasing 
 4 29/02/16 Topic 4 Inventory Management - storage 
 5 07/03/16 Topic 5  Inventory Management - Issue 
 6 14/03/16 Topic 6 Material Control 
 7a 21/03/16 Topic 6a Materials accounting 
  24/03/16 - 30/03/2016 - Mid Semester Break 
 7b 28/03/16 Topic 7 Labour Control 
 804/04/16 Topic 8 Labour Accounting 
 911/04/16 Test 1 Topics 1-8 Test 1
1018/04/16 Topic 9 Accounting for Manufacturing Overhead 
 1125/04/16 Topic 9 Accounting for Manufacturing Overhead Assignment due
 1202/05/16 Topic 10 Job costing Transaction analysis 
 1309/05/16 Topic 11 Job costing for service organisations 
 1416/05/16 Review of Topics 9-11 
1523/05/16 Test 2 Test 2
 1630/05/16 Retests 

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 bit also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.


Learning Resources

Prescribed Texts

Provide Management Accounting Information (Edition 7) Colin Davy & Danny Bruce


References


Other Resources

Online learning materials can be accessed by going to the RMIT website where there is a link to online Learning hub.  <o:p></o:p>

 

The Material comprises Power point slides and related student notes for each topic.<o:p></o:p>

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

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • gather and record operating and costs data
  • generate and prepare a range of reports relating to job costs.

Knowledge Evidence

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

  • describe the key features of organisational operating procedures relevant to job costing
  • explain common routines for recording and storing data
  • identify and describe the key generally agreed accounting principles relevant to:
    • costing
    • internal control (including statutory reporting)
    • budgetary control (double-entry bookkeeping and accrual accounting
  • identify and analyse methods of data protection, including back-ups and security
  • identify and describe the key financial legislation relating to taxable transactions and reporting requirements

 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:

  • a range of common office equipment, technology, software and consumables
  • financial services product information
  • information about workplace policy and procedures

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

Overview of Assessment
To be deemed competent students must demonstrate an understanding of all elements of the competency.

Critical Aspects of assessment

Evidence of the following is essential:

  • 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

 The assessments for this course have been designed to allow participants  apply their learning to particular simulated work scenarios and demonstrate their competence in a variety of ways.

 

TASK 1 (Due Date: w/b 11/04/16

For this Assessment Task you need to complete a supervised Test covering Topics 1-8.  The test will comprise a mix of theory and practical exercises.


TASK 2 (Due Date: End of Week 25/04/16)

For this assessment task you are to submit a budget solution incorporating multiple schedules and reports for a manufacturing business.  This exercise is to be done in groups of two students

 

TASK 3 (Due Date: w/b 23/05/16

For this assessment task you need to complete a supervised Test covering Topics 9-11.  The test will comprise a mix of theory and practical exercises

 You must successfully complete all assessment tasks to achieve competency.


Assessment Matrix

Other Information

Submission Requirements

You should:

• Ensure that you submit assessments on or before the due date.
• 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 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, Callie Harvey, 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. <check links are still current>


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. <check links are still current>
 

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 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: <check link is still current>
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.
 

Course Overview: Access Course Overview