Availabilities:

Location Domestic International
Gold Coast Session 2 Session 2
Lismore Session 2 Session 2
Melbourne N/A Session 3
Online Session 2,  3 Session 2,  3,  3
Papua New Guinea - IBSU Port Moresby N/A Session 2,  3
Sydney N/A Session 2,  3

Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Advanced

Pre-requisites

ACC00151 - Financial Accounting AND 36 credit points in any SCU units

Unit aim

Introduces students to the various costing models, the allocation of service departments, budgeting and responsibility accounting that facilitate internal decision-making and control. Particular attention will be given to the recent developments in alternative costing systems and their relevance within a managerial context.

Unit content

Topic 1: The role of management accounting and cost terms and concepts
Topic 2: Cost-volume-profit (CVP) analysis
Topic 3: Product costing - traditional and contemporary
Topic 4: Process costing
Topic 5: Cost allocation and joint product costing
Topic 6: Budgeting
Topic 7: Variance analysis
Topic 8: Strategy, balanced scorecard and quality
Topic 9: Inventory management
Topic 10: Transfer pricing and relevant costs for decision making

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

GA1: , GA2: , GA3: , GA4: , GA5: , GA6: , GA7:
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 discuss the accountant's role in the organisation including management functions including professional ethics and utilise cost-volume-profit relationship as an aid to decision making
2 explain cost terms, concepts and classifications and calculate cost of goods manufactured and compute product/service costs in both job cost and process cost environments including activity-based costing (ABC)
3 explain the role of budgets and standards, prepare master budget, explain the concept of standard costing, prepare flexible budgets, and calculate detailed variances
4 discuss various methods of allocating indirect and support department costs and describe current trends occurring in organisations' cost allocation practices and apply alternative approaches to allocate joint costs in a joint-cost environment and distinguish between joint
5 recognise which strategies an organisation is using and describe a balanced scorecard approach to manage the implementation of those strategies
6 discuss inventory management
7 use transfer pricing models in decentralised organisations.

On completion of this unit, students should be able to:

  1. discuss the accountant's role in the organisation including management functions including professional ethics and utilise cost-volume-profit relationship as an aid to decision making
    • GA1:
    • GA4:
  2. explain cost terms, concepts and classifications and calculate cost of goods manufactured and compute product/service costs in both job cost and process cost environments including activity-based costing (ABC)
    • GA1:
    • GA4:
    • GA6:
  3. explain the role of budgets and standards, prepare master budget, explain the concept of standard costing, prepare flexible budgets, and calculate detailed variances
    • GA1:
    • GA4:
    • GA6:
  4. discuss various methods of allocating indirect and support department costs and describe current trends occurring in organisations' cost allocation practices and apply alternative approaches to allocate joint costs in a joint-cost environment and distinguish between joint
    • GA1:
    • GA4:
    • GA6:
  5. recognise which strategies an organisation is using and describe a balanced scorecard approach to manage the implementation of those strategies
    • GA1:
    • GA4:
    • GA6:
  6. discuss inventory management
    • GA1:
  7. use transfer pricing models in decentralised organisations.
    • GA1:

Prescribed texts

  • Horngren, CT, Datar, SM, Rajan, MV, Wynder, M, Maguire, W & Tan, R, 2014, Cost Accounting – A Managerial Emphasis, 2nd edn, Pearson Australia, Australia. ISBN: 9781442563377 (paperback). "e-text" version is also available.

  • Horngren, CT, Datar, SM, Rajan, MV, Wynder, M, Maguire, W & Tan, R, 2014, Cost Accounting - A Managerial Emphasis, 2nd edn, Pearson Australia, Australia. ISBN: 9781442563377 (paperback). "e-text" version is also available.
Prescribed texts may change in future teaching periods.