ACCT204 - Management Accounting

Year

Credit points

Campus offering

Prerequisites

ACCT100 Introduction to Accounting

Teaching organisation

150 hours over a twelve-week semester or equivalent study period

Unit rationale, description and aim

Management accountants provide information to managers that forms the basis of decision-making within an organisation to create both customer and shareholder value. This unit focuses on developing students’ knowledge in cost management techniques, use of budgets for planning and control purposes and developing skills in making a variety of value-based decisions. The unit also incorporates discussion about the effective use of cost management and budgeting techniques to ensure fair and equitable compensation for employees. This unit takes an active learning approach where students benefit from individual and team-based learning activities, class discussions, and authentic case studies that focus on cutting-edge management accounting as practised by leading organisations in Australia and overseas. The aim of this unit is to provide students with knowledge and understanding of management accounting tools and techniques, including digital technologies to support management in planning, controlling, and monitoring performance in a variety of business contexts.

Learning outcomes

To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.

Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.

Explore the graduate capabilities.

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

LO1 - analyse the purpose and use of management accounting within an organisation (GA5, GA6)

LO2 - apply effective cost management and budgeting techniques to ensure fair and equitable compensation for employees (GA3, GA5)

LO3 - demonstrate the skills to communicate complex disciplinary ideas and information effectively in a variety of formal and informal business contexts (GA5, GA9)

LO4 - apply management accounting tools and techniques to support decision making (GA5, GA8)

LO5 - evaluate how management accounting knowledge is relevant to the creation of value within an entity and for the benefit of society generally (GA2, GA5)

Graduate attributes

GA2 - recognise their responsibility to the common good, the environment and society 

GA3 - apply ethical perspectives in informed decision making

GA5 - demonstrate values, knowledge, skills and attitudes appropriate to the discipline and/or profession 

GA6 - solve problems in a variety of settings taking local and international perspectives into account

GA8 - locate, organise, analyse, synthesise and evaluate information 

GA9 - demonstrate effective communication in oral and written English language and visual media 

Content

Topics will include:

• Management accounting in a business context
• Cost management and budgeting techniques to ensure fair and equitable compensation for employees
• Information for creating value and managing resources
• Application of management accounting tools considering ethical, social and governance aspects
• Cost terms, concepts and classifications
• Cost behaviour, cost drives and cost estimation
• Process and Product costing systems
• Operation costing
• Service costing
• A closer look at overhead costs
• Activity-based costing
• Budgeting systems

Learning and teaching strategy and rationale

ACU’s teaching policy focuses on learning outcomes for students. Our teaching aims to engage students as active participants in the learning process while acknowledging that all learning must involve a complex interplay of active and receptive processes, constructing meaning for oneself, and learning from others. ACU promotes and facilitates learning that is autonomous and self-motivated, is characterised by the individual taking satisfaction in the mastering of content and skills and is critical, looking beneath the surface level of information for the meaning and significance of what is being studied.

The schedule of the workshop is designed in such a way that students can achieve intended learning outcomes sequentially. Teaching and learning activities will apply the experiential learning model, which encourages students to apply higher-order thinking. The unit ensures that learning activities involve real-world scenarios that in turn assist with ‘real-world’ preparedness. The unit also uses a scaffolding technique that builds a student’s skills and prepares them for the next learning process phase.

This unit is structured with required upfront preparation before workshops, and most students report that they spend an average of one hour preparing before the workshop and one or more hours after the workshop practicing and revising what was covered. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for students to prepare and revise. It is up to individual students to ensure that the out of the class study is adequate for the optimal learning outcomes and successes.

Mode of delivery: This unit is offered in different modes to cater to the learning needs and preferences of a range of participants and maximise effective participation for isolated and/or marginalised groups.

Attendance Mode

In a weekly attendance mode, students will require face-to-face attendance in specific physical location/s. Students will have face-to-face interactions with lecturer(s) to further their achievement of the learning outcomes. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for students to prepare and revise.

Blended Mode

In a blended mode, students will require intermittent face-to-face attendance determined by the School. Students will have face-to-face interactions with lecturer(s) to further their achievement of the learning outcomes. This unit is structured with required upfront preparation before workshops. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for students to prepare and revise.

Online Mode

In an Online mode, students are given the opportunity to attend facilitated synchronous online seminar classes with other students and participate in the construction and synthesis of knowledge, while developing their knowledge. Students are required to participate in a series of online interactive workshops which include activities, knowledge checks, discussion and interactive sessions. This approach allows flexibility for students and facilitates learning and participation for students with a preference for virtual learning.

ACU Online

This unit uses an active learning approach to support students in the exploration of knowledge essential to the discipline. Students are provided with choice and variety in how they learn. Students are encouraged to contribute to asynchronous weekly discussions. Active learning opportunities provide students with opportunities to practice and apply their learning in situations similar to their future professions. Activities encourage students to bring their own examples to demonstrate understanding, application and engage constructively with their peers. Students receive regular and timely feedback on their learning, which includes information on their progress.

Assessment strategy and rationale

Assessments are used primarily to foster learning. ACU adopts a constructivist approach to learning which seeks alignment between the fundamental purpose of each unit, the learning outcomes, teaching and learning strategy, assessment and the learning environment. To pass this unit, students must demonstrate competence in all learning outcomes and achieve an aggregate mark of at least 50%. Marking will be in accordance with a rubric specifically developed to measure the level of achievement of the learning outcomes for each assessment item. A final grade will be awarded, reflecting the overall achievement in the unit. 

Assessment 1 is designed to determine how students understand and appreciate key areas of management accounting practice apply in the real-world. The focus is to encourage students to reflect on the key competencies that they will need to develop to perform effectively in the professional environment. The students are also expected to assess the salary and fringe benefits to ensure compensation is impartially and honestly determined in an objective manner.

Assessment 2 is designed to assess the understanding students have developed to apply management accounting knowledge and tools, in a real case study, considering the environmental, social and governance aspects. The lecturer will provide case studies to be assessed. In this assessment, the students will actively participate in online discussion forums and online activities.

Assessment 3 is designed to evaluate the understanding and application of various costing and budgeting techniques that introduce students to complexity in business analysis. 

Overview of assessments

Attendance mode;

Blended mode

Online mode

Representative texts and references

Blocher EJ, Stout, D, Juras P & Cokins G 2019, Cost management: A strategic emphasis, 9th edn, McGraw-Hill Irwin, New York.

Eldenburg, L.G., Brooks, A., Oliver, J., Vesty, G., Dormer, R., Murthy, V. 2019. Management accounting, 4thEd.). Milton: John Wiley & Sons.

Horngren CT, Datar SM & Rajan MV 2015, Cost accounting: a managerial emphasis, 15th edn, Upper Saddle River, N.J Pearson.

Langfield-Smith K, Thorne H, Smith, D. & Hilton RW 2018, Pack Management Accounting: Information for Managing and Creating Value + Connect Online, 8th edn, McGraw-Hill, North Ryde

Noreen EW , & Brewer PC, Garrison RH 20120 Managerial Accounting for Managers 5th edn, McGraw-Hill Education.