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 |
Element: |
2. Produce cost reports |
Performance Criteria: |
2.1 Costs are assigned to specified products and services |
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]
Week | Tutorial Topic as per Student Learning Guide | Learning outcomes |
1 | Topic. Introduction to course including review |
N/A |
2 | Topic. Introduction Topic. Terminology |
An understanding of the costing definitions |
3 | Topic. Inventory Management | An understanding of why Inventory Management is important to a business |
4 | Topic. Inventory Management Topic. Inventory Management-(Purchasing and storage) |
Control steps for proper management of the purchasing and storage functions |
5 | Topic. Materials Control Topic. Materials Control |
An understanding of the Internal control processes needed for the proper management of materials |
6 | Topic. Materials Accounting | Complete the accounting entries in journals and ledgers |
7 | Topic. 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 |
7 | MID 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 |
8 | ASSESSMENT WEEK (Test No 1)
|
Test1 covering Introduction, Inventory and Labour topics. |
9 | Review of Test No 1 Topic. Manufacturing Overhead Control
|
Complete accounting entries for the control of Manufacturing Overhead |
10 | Topic. Accounting for Manufacturing overhead |
Complete accounting entries for the control of Manufacturing Overhead |
11 | Topic. Job costing | Produce Job costing data for processing through the accounting system ASSIGNMENT |
12 | Topic. Job costing for service Organisations | Produce Job Costing Information for service business |
13 | Topic. Manufacturing Statements | Produce the alternative formats for Manufacturing Statements |
14 | Topic Capital Expenditure Evaluation | Different methods to evaluate benefits of new projects. ASSIGNMENT DUE |
15 | ASSESSMENT WEEK | Test 2 covering the remainder of the program |
16 | 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.
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