BS351 MANAGEMENT ACCOUNTING

Transcription

1 BS351 MANAGEMENT ACCOUNTING This sample unit outline is provided by CHC for prospective and current students to assist with unit selection. Elements of this outline which may change with subsequent offerings of the unit include Content, Required Texts, Recommended Readings and details of the Assessment Tasks. Students who are currently enrolled in this unit should obtain the outline for the relevant semester from the unit lecturer.

2 BS351 Management Accounting Unit Name BS351 Management Accounting Nominal Duration 14 weeks Delivery Mode Workload (On campus) Weight Internal / External Class contact Reading, study, preparation for classes Assignment preparation TOTAL 10 credit points 42 hours 48 hours 50 hours 140 hours Unit Coordinator Mrs Wendy Collins (ACA) Teaching Staff Mrs Judy Young (ACA) Prerequisite Units Prerequisite BS150 Core / Elective Core in Accounting Major/ Elective otherwise Rationale Text Requirements Outcomes This unit recognises the importance of management accounting information for planning, control and decision making. The unit explores analysis of cost behaviour, methods of costing, principles of job and process costing and the budgeting process. Horngren CT, Wynder M, Maguire W, Tan R, Datar S, Foster G, Rajan M, Ittner C, & 2011, Cost accounting: a managerial emphasis, 1 st Australian Edition, Pearson Australia, On completion of this unit of study, students will have provided evidence that they have: 1. Demonstrated a thorough knowledge of the role of management accounting in the management decision-making, planning and control function. 2. Demonstrated problem solving, planning and management skills through analysis of cost behaviour and application of cost-volume-profit decision-making contexts. 3. Demonstrated skills and understanding of the issues and techniques associated with cost allocation and activity based costing principles and techniques. 4. Demonstrated skills and understanding of determination of costs and decision-making in the job and process cost environments. 5. Demonstrated ability to prepare financial budgets and provide an analysis of variances and management control of budgets. 6. Demonstrated ability to understand variable and absorption costing principles and use such skills in management decision making. 7. Demonstrate behavioural and ethical considerations associated with budgeting, costing and management accounting decision-making. 8. Demonstrate competence in oral and written presentations at an appropriate tertiary standard with special attention to correct grammar, punctuation, spelling, vocabulary usage, sentence structure, logical relations, style and presentation.

3 Content Week Content 1. Introduction to Management accounting and overview of terminology 2. Cost behaviour and estimation. 3. Cost-volume-profit analysis 4. Job Costing 5. Process costing 6. Cost allocation issues and techniques 7. Mid semester examination 8. Master budget and responsibility accounting 9. Master budget and responsibility accounting (cont) 10. Flexible budgets and Overhead Cost Variances 11. Flexible budgets and Overhead Cost Variances (cont) 12. Measuring and Reporting Sustainability 13. Applying management and planning skills in organisational settings case reviews 14. Unit review and consolidation Assessment Assessment Task #1 Mid Semester Exam (Relates to Outcomes 1-4, 7,8) The 2 ½ hour paper will comprise multiple choice, short answer and practical questions and will draw upon material covered in weeks 1 6 inclusive. Students will receive feedback, including answers for multiple choice questions and suggested answers for short answer and practical sections. Weighting: 40% Words/Length: 21/2 hours Due Date: Week 7 Assessment Task #2 Case Study (Relates to Outcomes 1-5) Students will use information from weeks 1 9 to prepare quarterly and annual budgets for a manufacturing organisation. This task will demonstrate professional literacy, planning and problem solving skills incorporating management accounting principles and techniques. Weighting: 20% Words/Length: guide words Due Date: Week 11 Assessment Task #3 Final Exam (Relates to Outcomes 5-8) The 2 ½ hour paper will comprise multiple choice, short answer and practical questions and will draw upon material covered in weeks 8-14 inclusive. Students will receive feedback, including answers for multiple choice questions and suggested answers for short answer and practical sections. Weighting: 40% Words/Length: 21/2 hours Due Date: Exam Week

4 Additional Information Final exit grade The final exit grade in this unit is determined by adding weighted marks for each individual assessment item. Final exit grade cut-offs are: High Distinction (HD) 85/100 or higher; Distinction (D) 75/100 to less than 85/100; Credit (C) 65/100 to less than 75/100; Pass (P) 50/100 to less than 65/100; Fail (F) less than 50/100 Penalties for late submission of assessment items Late submission of assessment items, except in the case of documented extenuating circumstances, may attract a penalty of up to a maximum of one grade level per day. Academic & General Resource Requirements Horngren CT, Harrison WT, Bamber L, Best P, Fraser D, Willett R 2007, Accounting with MyAccounting Lab, 5th Edn, Prentice Hall, Australia Jachau R, Flanagan J, Mitchell G et al 2006, Accounting Information for Decisions, 2 nd edn, Thomson, Melbourne Langfield-Smith K, Thorne H, & Hilton RW 2009, Management accounting: information for managing and creating value, 5 th edn, McGraw Hill, North Ryde, New South Wales Journals The CPA Journal [ISSN ] Charter [ISSN ] Journal of Accountancy [ISSN ] National Accountant [ISSN X] Harvard Business Review {ISSN ]

5 BS351 MANAGEMENT ACCOUNTING SUGGESTED STUDY PROGRAM SEMESTER 1, 2012 TEXT: Horngren CT, Wynder M, Maguire W, Tan R, Datar S, Foster G, Rajan M, Ittner C, & 2011, Cost accounting: a managerial emphasis, 1 st Australian Edition, Pearson Australia Week Date Lecture Topic Text chapter/pages Assessment 1 28 Feb, 2012 Introduction to Management Accounting and overview of terminology 2 6 March, 2012 Cost behaviour and Estimation Horngren Chap 1&2 Reading from Accounting - Information for Decisions M7 Horngren Chap 2 Accounting Information for Decisions M36-46 Horngren Chap March, 2012 Cost-volume-profit analysis 4 20 March, 2012 Job Costing Horngren Chap March, 2012 Process Costing Horngren Chap April, 2012 Cost Allocation Issues and Horngren Chap 7 techniques Mid-Semester Break - no class on 10 April 7 17 April, 2012 Mid-Semester Exam Mid-Semester exam on Weeks 1-6 (40%) 8 24 April, 2012 Master budget and Responsibility Accounting 9 1 May, 2012 Master budget and Responsibility Accounting 10 8 May, 2012 Flexible budgets and Overhead Cost Variances May, 2012 Flexible budgets and Overhead Cost Variances May, 2012 Measuring and Reporting Sustainability May, 2012 Applying Management and Planning Skills in Organisational Settings case reviews 14 5 June, 2012 Unit review and consolidation Study Week no class 12 June, 2012 EXAM commences WEEK 18 June Horngren Chap 11 Horngren Chap 11 Horngren Chap 12&13 Budgeting A Practical Approach Chap 10 Horngren Chap 12&13 Budgeting A Practical Approach Chap 10 Horngren Chap 14 Horngren Chap 15 Non-Financial measures Horngren Chap 20 check exam timetable Budgeting case study due (20%) FINAL EXAM on Weeks 8-14 (40%)