BUSN9117 Management and Cost Accounting

2020

4.5

1 x 3-hour workshop weekly

1 BUSN9113 - Accounting Fundamentals
2 Admission into MAF-Master of Accounting and Finance
2a Admission into MAM-Master of Accounting and Marketing
2b Admission into MACC-Master of Accounting
Must Satisfy: (1 and (2 or 2a or 2b))

BUSN9105 has been successfully completed

This topic distinguishes between financial accounting and management accounting systems. Management accounting is concerned with supplying organisational management with relevant, timely and accurate information to promote the efficient and effective use of resources, thereby enhancing customer and shareholder value. A variety of costing systems, techniques and models relevant to the service, merchandising and manufacturing sectors are examined, with an emphasis on the need for management accounting systems to adapt to a constantly changing business environment. As such, contemporary developments in areas such as cost, quality, customer and social and environmental management are considered

This topic aims to introduce students to a variety of costing systems, models and techniques relevant to managerial planning, control and decision making in the services, merchandising and manufacturing industries. The topic also aims to make students aware and develop the students' ability to critically evaluate management accounting issues in areas such as professional ethics, budgeting and cost/volume/profit analysis, quality and customer management

On successful completion of the topic, students will be able to:

1. Discuss the nature and importance of management accounting, and the current roles and responsibilities of management accountants
2. Categorise and identify the nature of the various types of costs, cost objects and cost behaviours
3. Apply various costing systems and techniques to calculate and report the costs of various cost objects, including products, services and departments, in various organisational settings
4. Apply various techniques to analyse cost and other management-related information for effective planning, control and decision-making
5. Discuss and critically analyse some of the contemporary issues confronting organisations and the management accounting discipline.