Credit Points: 15
Workload: 36 contact hours
Campus: Melbourne, Sydney
Aims & Objectives
Management Accounting is concerned with the use of accounting information for planning, control and decision making purposes. It is information for managers to assist them in managing within organizations.
This unit provides students with tools to aid decision making by managers. Its aim is to provide students with knowledge about some of the processes and technologies that enable the effective and efficient use of organisational resources by management to enhance the value of the organisation to shareholders and other stakeholders such as government. Management accounting is concerned with the future, operates under varying time frames and has no set of rules. Global competition, advances in information and other technology and changes in the economic environment leaves managers needing management accounting information to contribute to strategic decision making of business and government. The overall objective of this unit is to give students an understanding of the role of management accounting information in planning, decision making and monitoring the organisation. This unit considers some of the concepts and tools used by accountants to provide information for planning and control. There is an emphasis on developing the students’ capability to apply management accounting information in problem definition, analysis and solution.
Unit topics include:
- Overhead costs;
- Activity based costing;
- Standard costs;
- Performance measures in a range of situations;
- Managing Suppliers and Customers;
- Managing costs and quality;
- Sustainability and management accounting; and
- Capital expenditure (asset investment)
At the completion of this unit students will be able to:
- Demonstrate advanced understanding of management accounting in the contemporary business environment;
- Analyse business problems, apply management accounting techniques and critically evaluate appropriate approaches to generation of financial information for decision making;
- Apply management accounting practices and theories to research, analyse and solve business and management problems;
- Research, evaluate and prepare business reports which communicate and present financial solutions on management issues in writing;
- Adapt knowledge to new situations to develop flexible approaches to problem solving; and
- Assist management decisions by appraising, integrating and prioritising appropriate financial management information to aid decision making.
Tutorial/Workshop: 1 hour
Students are advised to check the unit outline for prescribed Textbooks.
Students are advised to check the unit outline for additional reference materials.