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.
Campus offering
No unit offerings are currently available for this unit.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.
Analyse the purpose and use of management accounti...
Learning Outcome 01
Apply effective cost management and budgeting tech...
Learning Outcome 02
Demonstrate the skills to communicate complex disc...
Learning Outcome 03
Apply management accounting tools and techniques t...
Learning Outcome 04
Evaluate how management accounting knowledge is re...
Learning Outcome 05
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
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
Assessment Task 1: Analytical Report Students w...
Assessment Task 1: Analytical Report
Students would be required to submit an analytical report to highlight key areas of management accounting practice apply in the real world and reflect on the key competencies that they will need to develop to perform effectively in the professional environment. In order to complete this assessment task, students are required to refer to recent job advertisements for management accountants. This assessment also requires students to assess the salary and fringe benefits to ensure the compensation amount was impartially and honestly determined in an objective manner.
Total length: 1000 words
Submission Type: Individual
Assessment Method: Written Analytical report
Artefact: Written analytical report
20%
Assessment Task 2: Oral (Group Presentation) St...
Assessment Task 2: Oral (Group Presentation)
Students would be required to submit a recorded 15-minute audio-visual group presentation on a real-life case study provided by the lecturer. This presentation needs to be accompanied by a maximum of 8 PowerPoint slides, including the title slide. This task requires students to apply management accounting knowledge and tools, in a real case study, taking into consideration the environmental, social and governance aspects
Submission Type: Group
Assessment Method: Oral Presentation
Artefact: Video of presentation/presentation slides
30%
Assessment Task 3: Exam This assessment task con...
Assessment Task 3: Exam
This assessment task consists of a final exam entailing both descriptive type theoretical questions and numerical calculation type questions. This task requires students to independently draw on their analytical and evaluating skills and apply their knowledge of the topics covered in the unit to the exam questions.
Submission Type: Individual
Assessment Method: Exam
Artefact: Answers to exam questions
50%
Blended mode
Assessment Task 1: Analytical Report Students w...
Assessment Task 1: Analytical Report
Students would be required to submit an analytical report to highlight key areas of management accounting practice apply in the real world and reflect on the key competencies that they will need to develop to perform effectively in the professional environment. In order to complete this assessment task, students are required to refer to recent job advertisements for management accountants. This assessment also requires students to assess the salary and fringe benefits to ensure the compensation amount was impartially and honestly determined in an objective manner.
Total length: 1000 words
Submission Type: Individual
Assessment Method: Written Analytical report
Artefact: Written analytical report
20%
Assessment Task 2: Oral (Group Presentation) St...
Assessment Task 2: Oral (Group Presentation)
Students would be required to submit a recorded 15-minute audio-visual group presentation on a real-life case study provided by the lecturer. This presentation needs to be accompanied by a maximum of 8 PowerPoint slides, including the title slide. This task requires students to apply management accounting knowledge and tools, in a real case study, taking into consideration the environmental, social and governance aspects
Submission Type: Group
Assessment Method: Oral Presentation
Artefact: Video of presentation/presentation slides
30%
Assessment Task 3: Exam This assessment task con...
Assessment Task 3: Exam
This assessment task consists of a final exam entailing both descriptive type theoretical questions and numerical calculation type questions. This task requires students to independently draw on their analytical and evaluating skills and apply their knowledge of the topics covered in the unit to the exam questions.
Submission Type: Individual
Assessment Method: Exam
Artefact: Answers to exam questions
50%
Online mode
Assessment Task 1: Analytical Report Students w...
Assessment Task 1: Analytical Report
Students would be required to submit an analytical report to highlight key areas of management accounting practice apply in the real world and reflect on the key competencies that they will need to develop to perform effectively in the professional environment. In order to complete this assessment task, students are required to refer to recent job advertisements for management accountants. This assessment also requires students to assess the salary and fringe benefits to ensure the compensation amount was impartially and honestly determined in an objective manner.
Total length: 1000 words
Submission Type: Individual
Assessment Method: Written Analytical report
Artefact: Written analytical report
20%
Assessment Task 2: Oral (Group Presentation) St...
Assessment Task 2: Oral (Group Presentation)
Students would be required to submit a recorded 15-minute audio-visual group presentation on a real-life case study provided by the lecturer. This presentation needs to be accompanied by a maximum of 8 PowerPoint slides, including the title slide. This task requires students to apply management accounting knowledge and tools, in a real case study, taking into consideration the environmental, social and governance aspects
Submission Type: Group
Assessment Method: Oral Presentation
Artefact: Video of presentation/presentation slides
30%
Assessment Task 3: Exam This assessment task con...
Assessment Task 3: Exam
This assessment task consists of a final exam entailing both descriptive type theoretical questions and numerical calculation type questions. This task requires students to independently draw on their analytical and evaluating skills and apply their knowledge of the topics covered in the unit to the exam questions.
Submission Type: Individual
Assessment Method: Exam
Artefact: Answers to exam questions
50%
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.
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 5th edn, McGraw-Hill Education.