ACCTING 2500 - Cost and Management Accounting II

North Terrace Campus - Semester 2 - 2018

This course seeks to give an understanding of the ways in which management accountants can provide relevant information for a variety of decisions to be made in managing any organisation. On completion of this course, students should be able to identify, use and interpret the results of costing techniques appropriate to different activities and decisions; formulate and use standards and budgets for planning and control purposes; understand the role of responsibility accounting and performance measurement; understand the behavioural implications of performance measurement and transfer pricing systems in divisionalised businesses; appreciate the need to relate management accounting systems to contemporary thinking about organisational planning and control.

  • General Course Information
    Course Details
    Course Code ACCTING 2500
    Course Cost and Management Accounting II
    Coordinating Unit Business School
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Prerequisites ACCTING 1002
    Assumed Knowledge Basic computer literacy using MS Office software
    Course Description This course seeks to give an understanding of the ways in which management accountants can provide relevant information for a variety of decisions to be made in managing any organisation. On completion of this course, students should be able to identify, use and interpret the results of costing techniques appropriate to different activities and decisions; formulate and use standards and budgets for planning and control purposes; understand the role of responsibility accounting and performance measurement; understand the behavioural implications of performance measurement and transfer pricing systems in divisionalised businesses; appreciate the need to relate management accounting systems to contemporary thinking about organisational planning and control.
    Course Staff

    Course Coordinator: Dr Tony McMurtrie

    LECTURER-IN-CHARGE Name: Dr Tony McMurtrie
    Location: Room 13.45, 10 Pulteney Street
    Telephone: 8313 4515

    Email: tony.mcmurtrie@adelaide.edu.au
    Course Website: www.myuni.adelaide.edu.au

    SENIOR TUTOR Name: TBA
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.



  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1. Explain the role of management accounting information in assisting management in undertaking planning, performance measurement, controlling and decision-making.
     
    2. Apply traditional and contemporary approaches to product costing in job, process, & acivity based costing environments.
     
    3. Use standard costs to prepare budgets for planning and control purposes.
     
    4. Identify relevant information for decision making purposes in order to produce financial analyses for a range of decisions such as product-mix, pricing, outsourcing and special orders.
     

    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1-4
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    3&4
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    5
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • Able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    5
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    5
  • Learning Resources
    Required Resources
    Online Learning

    Students will need to purchase access to the MyAccounting/Mastery facility that accompanies the text book. Details relating access to this facility will be available on the course web site
    Course website link: http://myuni.adelaide.edu.au


    Recommended Resources
    Students are required to have acccess to the prescribed text book:

    "Mangement Accounting - Information for Creating Value" 8th Edition by Kim Langfield-Smith, David Smith, Paul Andon, Helen Thorne and Ronald W Hilton

    a hard copy is vaialable in the book shop.

    You could choose to purchase the ebook verion from McGraw-Hill on line at:
      https://www.mheducation.com.au/9781760420413-aus-ebook-management-accounting


  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is taught through:
    · Lectures – to provide an outline of work to be covered.
    · Tutorials – to give opportunity for reflection on and the application of materials covered in lectures and to discuss issues relating to course matter.

    Please check your student email and MyUni as course-related announcements are communicated via email.
    Consultation hours of the tutors will be advised on MyUni Course homepage.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    This course is provided in internal mode and contains:
    · 2 hours lecture per week for 12 weeks
    · 1 hours tutorial per week for 11 weeks (tutorial begins in Week 2)

    The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours for a three-unit course or 13 hours for a four-unit course, of private study outside of your regular classes.

    Students in this course are expected to attend all lectures throughout the semester plus one tutorial class each week.

    Please refer to Access Adelaide for your timetable and enrolment details:
    www.adelaide.edu.au/access/

    Tutorial classes will be held weekly commencing Week 2 beginning Monday 30 July 2018. Membership of tutorial classes is to be finalised by the end of the second week of semester. Students wishing to swap between tutorial classes after this time are required to present their case to the Lecturer-in-Charge, but should be aware that such a request may not be approved.

    Tutorials are an important component of your learning in this course. The communication skills developed in tutorials by regularly and actively participating in discussions are considered to be most important by the School and are highly regarded by employers and professional bodies.
    Learning Activities Summary
    Lecture Schedule for semester 2

    Week

    Week beginning

    Topic

    Reading

    1

    23 July

    Introduction to Management Accounting

         Information for creating Value

         Cost Terms and Concepts

    Chap 1

    Chap 2

    2

    30 July

    Costing Systems

         Cost Behaviour, Cost Drivers , &        Cost Estimation

         Overheads

    Chap 3

     

    Chap 7 pp 291-307

    3

    6 August

    Costing Systems

         Product Costing Systems

         Process Costing

    Chap 4

    Chap 5

    4

    13 August

    Costing Systems

         Activity Based Costing

         Service Costing

         Responsibility Centre & Support Dpt

         Costing

    Chap 8

    Chap 6

    Chap 7 pp 307-328

    5

    20 August

    Managing Suppliers and Customers

    Managing Costs and Quality

    Chap 15

    Chap 16

    6

    27 August

    Mid Semester Test

    7

    3 September

    Budgets

       Budgeting Systems

       Standard Costs – Material and Labour

       Variances

    Chap 9

    Chap 10 pp 476-494

    8

    10 September

    Budgets

         Cost Control – Responsibility

         Flexible Budgets

         Overhead Variances

    Chap 10 pp 494-506

    Chap 11

     

     

    Mid Semester Break 15 – 30 September

     

    9

    1 October

    Performance Measurement

         Managing and Reporting

         Financial Measures and Incentive

         schemes

    Chap 12

    Chap 13

    10

    8 October

    CVP

    Relevant Costs and Revenues

    Chap 18

    Chap 19

    11

    15 October

    Strategic Performance

    Pricing

    Chap 14

    Chap 20

    12

    22 October

    Sustainability

    Exam Prep

    Chapter 17

  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    The assessment details will be available on MyUni and explained in Lecture 1
    All lectures, tutorials and set readings are examinable



    Assessment Related Requirements
    NOTES ON ASSESSMENT

    1. In order to pass this course students must achieve an overall minimum grade of 50% as well as at least 45% in the final exam.

    2. Any written assignment must be presented using the appropriate Microsoft program, i.e., MSWord, Excel, etc.

    3. Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Marks may be deducted in the final examination because of poor hand-writing.

    4. Students in this course are not permitted to take a DICTIONARY (English or English-Foreign) into the examination.

    5. The use of a non-programmable calculator incapable of storing text in the examination is permitted in this course.
    Assessment Detail
    Assessment details will be as below

    Assessment items

    Due Date

    Weight (%)

    Tutorial Participation

    10

    Individual Assignment

    Thursday Oct 1 4 pm

    15

    Mid-semester test

    Scheduled for week 6

    15

    Final exam

    TBA

    60

    Submission
    Presentation of Assignments

    · Please must retain a copy of all assignments submitted.
    · All individual assignments must be attached to an ‘Assignment Cover Sheet’, which is signed and dated by the student before submission. Lecturers will withhold student’s results until such time as the student has signed the Assignment Cover Sheet.
    · All group assignments must be attached to a ‘Group Assignment Cover Sheet’, which must be signed and dated by all group members before submission. All team members are expected to contribute approximately equally to a group assignment.

    Lecturers can refuse to accept assignments, which do not have a signed acknowledgement of the University’s policy on plagiarism.


    Assignment Guidelines including Referencing Details

    A copy of the Postgraduate Programs: Communication Skills Guide will have been given to you at the beginning of your program. This guide will assist you structure your assignments. A copy of the guide can also be downloaded from 
    http://www.adelaide.edu.au/professions/hub/downloads/Communications-Skills-Guide.pdf

    This publication also provides guidelines on a range of other important communication skills including writing essays and management reports, making oral presentations etc.
    In preparing any written piece of assessment for postgraduate studies it is important to draw on the relevant ‘literature’ to support critical analysis. Also essential is to reference the literature used. Correct referencing is important because it identifies the source of the ideas and arguments that you present, and sometimes the source of the actual words you use, and helps to avoid the problem of plagiarism. (Further information on plagiarism is provided later in this course outline.)
    The Harvard system is widely used in the Business School. Guidelines for the use of this style of referencing can be found in the Communication Skills Guide.

    Further assistance with referencing is available from the Faculty’s Learning Support Advisors. The contact details are provided on page 6 of the Communication Skills Guide.


    Late Assignment Submission

    Students are expected to submit their work by the due date to maintain a fair and equitable system. Extensions will generally only be given for medical or other serious reasons. All requests for extensions must be emailed to the lecturer in charge of the course before the due date. Each request will be assessed on its merits. A late assignment (without prior arrangement) will be penalised by a 5% of the available marks for each day that it is late.


    Return of Assignments

    Lecturer’s aim to mark and return assignments to students within two (2) weeks of the due date with written feedback. Students are responsible for collecting their marked assignments from either their tutorials or lectures. If assignments aren’t collected after two (2) weeks, the assignments will be available at the Student Hub for two (2) weeks. The remaining assignments will only be posted out to the students, if the correct mailing addresses are on the assignments.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.