ACC5213 Cost and Management Accounting
|Semester 2, 2013 On-campus Springfield|
|Faculty or Section :||Faculty of Business and Law|
|School or Department :||School of Accounting, Economics and Finance|
|Version produced :||21 July 2014|
Examiner: Claire Beattie
Moderator: Suzy Maloney
Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.
The purpose of this course is to introduce students to the management accounting tools and concepts that are used in businesses across the globe. The focus of the course is on the practical application and interpretation of management accounting techniques. This course aims to provide students with an understanding of how these tools support business practice.
This course focuses on the provision and use of management accounting information for planning, control and decision making. The course encourages an understanding of the management accounting function within an organisation by taking a business value chain perspective. The process of budgeting (operational and financial) and standards as an aid to management in planning and controlling business activities is explored. Also included is an analysis of cost behaviour, absorption and variable costing, a study of the principles of job and process costing systems, the application of activity based costing, as well as other facets of management accounting which support decision making.
On completion of this course students will be able to:
- demonstrate professional literacy though a knowledge of the role of management accounting in the management process
- demonstrate problem solving and planning and management skills through the analysis of cost behaviour, and the application of cost-volume-profit relationships to different decision making contexts
- demonstrate professional literacy and problem solving skills to understand the issues and techniques associated with cost allocation generally and activity based costing principles and techniques in particular
- demonstrate professional literacy to accumulate costs for (and determine the costs of) products/services in job and process cost environment and use management and planning skills to apply these techniques to appropriate organisational settings
- demonstrate professional literacy and problem solving skills to prepare operating and financial budgets and understand the behavioural and ethical factors associated with budgeting
- demonstrate professional literacy and problem solving skills to guide the development of standard costs and compute variances for management control reports
- demonstrate professional literacy and problem solving skills to understand variable and absorption costing principles, and prepare income statements in accordance with those principles and use management and planning skills to apply these techniques to appropriate organisational settings
- demonstrate problem solving skills to determine and analyse relevant information for management decision making.
|1.||The management accounting environment and cost terminology||5.00|
|2.||Cost behaviour and estimation, and cost-volume-profit analysis||9.00|
|4.||Activity based costing||9.00|
|5.||Cost allocation issues and techniques||8.00|
|7.||Master budget and responsibility accounting: part 1||8.00|
|8.||Master budget and responsibility accounting: part 2||9.00|
|9.||Flexible budgets, variances and management control: part 1||9.00|
|10.||Flexible budgets, variances and management control: part 2||8.00|
|11.||Variable and absorption costing||9.00|
|12.||Relevant information for decision making||8.00|
Text and materials required to be purchased or accessed
ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2013&sem=02&subject1=ACC5213)
Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)
Horngren, CT, Datar, SM, Foster, G, Rajan, M, Ittner, C, Wynder, M, Maguire, W & Tan, R 2011, Cost accounting: a managerial emphasis, Pearson Prentice Hall, Upper Saddle River, New Jersey.
(1st Australian edition.)
Computer hardware/software requirements are set out in the Introductory Book.
Langfield-Smith, K, Thorne, H & Hilton, RW 2009, Management accounting: information for creating and managing value, 5th edn, McGraw Hill, North Ryde, New South Wales.
Student workload requirements
|Description||Marks out of||Wtg (%)||Due Date||Notes|
|PRACTICE CMA TEST||10||0||09 Aug 2013|
|CMA TEST 1||20||10||16 Aug 2013|
|CMA TEST 2||20||10||13 Sep 2013|
|CMA TEST 3||20||10||18 Oct 2013|
|EXAMINATION - PART A||30||21||End S2||(see note 1)|
|EXAMINATION - PART B||70||49||End S2|
- The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date after the timetable has been finalised.
Important assessment information
It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.
Requirements for students to complete each assessment item satisfactorily:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)
Penalties for late submission of required work:
If students submit assignments after the due date without prior approval of the examiner, then a penalty of 5% of the total marks gained by the student for the assignment may apply for each working day late up to ten working days at which time a mark of zero may be recorded.
Requirements for student to be awarded a passing grade in the course:
To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.
This is a restricted examination. Candidates are allowed access only to specific materials during the examination. The only materials that candidates may use in the restricted examination for this course are:
- writing materials (non-electronic and free from material which could give the student an unfair advantage in the examination)
- calculators which cannot hold textual information (students must indicate on their examination paper the make and model of any calculator(s) they use during the examination)
- one A4 page of notes which has been hand-written or typed on both sides.
Examination period when Deferred/Supplementary examinations will be held:
Any Deferred or Supplementary examinations for this course will be held during the next examination period.
University Student Policies:
Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.
- The due date for an assignment is the date by which a student must submit the assignment to the USQ.
- Students must retain a copy of each assignment submitted for assessment. This must be produced within 24 hours if required by the examiner.
- In accordance with university policy, the examiner may grant an extension of the due date of an assignment in extenuating circumstances.
- The examiner will normally only accept assessments that have been written, typed or printed on paper-based media.
- In the event that a due date for an assignment falls on a local public holiday in their area, such as a show holiday, the due date for the assignment will be the next day. Students are to note on the assignment cover the date of the public holiday for the examiner's convenience.
- Assignments are to be submitted with the appropriate assignment cover sheet.
Referencing in assignments:
Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing.
Course weightings of topics should not be interpreted as applying to the number of marks allocated to questions testing those topics in an examination paper. The examination may test material already tested in assignments.
Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded: IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).
Computer/software requirements are outlined in the Introductory Book for external students or will be outlined in the initial lecture for on-campus students.