Course Title: Provide management accounting information

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: ACCT5314C

Course Title: Provide management accounting information

School: 650T Vocational Business Education

Campus: City Campus

Program: C5260 - Diploma of Accounting

Course Contact: Ian Nash & Meetu Aggarwal

Course Contact Phone: +61 3 9925 5733

Course Contact Email: ian.nash@rmit.edu.au & meetu.aggarwal@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Maurice Sheridan

RMIT

+61 3 9925 5455

maurice.sheridan@rmit.edu.au

Nominal Hours: 60

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 describes the performance outcomes, skills and knowledge required to gather, record and analyse operating and cost data, prepare budget reports and review costing systems integrity to calculate and record the costs of products and services. This unit has application to a variety of financial services sectors and is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements so the varying Commonwealth, State or Territory requirements should be confirmed with the relevant body.





 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC507A Provide management accounting information

Element:

1. Gather and record operating and cost data
2. Analyse data
3. Prepare budgeted reports
4. Review costing system integrity

Performance Criteria:

1.1. Systems to generate data are identified and established
1.2. Data are systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures
2.1. Costs are assigned to specified products, services and organisational units and data is reconciled to ensure calculations are accurate and comply with organisational procedures
2.2. Interpretation of revenues and costs is supported by valid analysis and is consistent with the organisation's business performance objectives
3.1. Cost information advice is sought from all sections of the organisation when formulating budgets
3.2. Structure and format of budgets and reports are clear and conform to management information requirements
3.3. Variances against budget are identified and prioritised for review and decision making
3.4. Reports are error free, comprehensive and comply with management requirements and organisational practices
4.1. The variance between actual and applied overheads costs is analysed
4.2. Variance analysis is used to review the effectiveness of the cost assignment process

Learning Outcomes



Details of Learning Activities

Students will be provided with a class outline of each of the topics to be covered. This information is available on the Black board (Learning Hub). It is a summary complete with practical illustrations of all the relevant material for the student to use as a starting reference. The text is a supplementary reference for students to access to consolidate understanding.
A discussion of contemporary issues related to the topics will be provided and students will complete exercises to reinforce their understanding of the material


Teaching Schedule

 

Week Tutorial Topic Element Learning Activities/National Codes
1 Topic 1. Introduction to course including review of Provide Job Costing Information, course guide, weekly program and assessment guide and use of the Blackboard 1,2,3,4. Complete Income statement using Variable costing approach FNSACCT503B
2 Topic 2. Assigning costs for a manufacturing organisation
Topic 3. Variable costing		 1,2,3,4. Complete Income statement using Absorption costing principles. Complete income statement using standard costing data and calculate variances FNSACCT503B
3 Topic 4. Absorption costing 1,2,3,4. Complete Income statement using Absorption costing techniques for calculating Overhead
FNSACCT503B
4 Topic 5. Standard costing 1,2,3,4. Complete Income statement using standard costing techniques for calculating Overhead
FNSACCT503B
5 Topic 6. Activity based costing (ABC) 1,2,3,4. Complete Income statement using ABC techniques for calculating Overhead
FNSACCT503B
6 Topic 6. Activity based costing (ABC) 1,2,3,4. Complete Income statement using ABC techniques for calculating Overhead
FNSACCT503B
7 Topic 7. Integrated budgets for manufacturing organisations 1,2,3,4. Complete a comprehensive set of budgets for a Manufacturer
FNSACCT503B
8 Revision and Assessment Week Test 1 1,2,3,4.  
  Semester Break    
9 Topic 8. Responsibility accounting 1,2,3,4. Complete Budgets using Responsibility accounting principles
FNSACCT503B
10 Topic 8. Responsibility accounting 1,2,3,4. Complete Budgets using Responsibility accounting principles
FNSACCT503B
11 Topic 9. Cost/Volume/Profit (Break Even) 1,2,3,4. Use CVP technique to evaluate scenarios for profit projections
FNSACCT503B
12 Topic 10. Differential accounting 1,2,3,4. Apply differential accounting techniques to evaluate various options for the business
FNSACCT503B
13 Topic 10. Differential accounting 1,2,3,4. Apply differential accounting techniques to evaluate various options for the business
FNSACCT503B
14 Topic 11. Performance Measurement using a Balanced Scorecard 1,2,3,4. Incorporate Balanced Scorecard principles into budget preparation
FNSACCT503B
15 Topic 12. Triple bottom Line Accounting (TBL) 1,2,3,4. Incorporate TBL principles into budget preparation
FNSACCT503B
16 Test No 2    
17 Retests 1 & 2    


Learning Resources

Prescribed Texts

Management Accounting Principles and Applications (Hart and Wilson) 4th Edition


References


Other Resources


Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

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. Students will be provided with feedback throughout the course to check their progress
 


Assessment Tasks

Assessment task 1 In class Assignment Topics 1 - 7

Assessment task 2 Assignment

Assessment task 3 In class test. topic 8 - 12

Assessment task 4 Presentation


Assessment Matrix

  Assessment 1 Assessment 2 Assessment 3 Assessmetn 4
ACCT-5312C Manage budgets and forecasts       x          X           X  
ACCT-5314C Provide management accounting information         X          X           X           X

Course Overview: Access Course Overview