Profound changes have occurred in the business environment over the past two decades. Some of the changes include an increased emphasis on providing value to customers, major advances in information and manufacturing technology, the rapid globalisation of markets, service industry growth, increased instability in financial markets, and an increasing desire to create knowledge-based organizations. With these changes has come the need to ensure that management accounting information adds value to organizational decision-making. This subject introduces the managerial aspects of accounting and the use of information for internal decision-making. The goal of this subject is to provide students with a framework for analysing and understanding the unique cost and revenue structures of each business. This understanding facilitates organisational planning and control, and decision-making about short-term (operational) and long-term (strategic) directions of the business.
|Academic unit:||Bond Business School|
|Subject title:||Cost Management Systems|
Delivery & attendance
|Attendance and learning activities:||Attendance at all instruction and review seminars is required. Records will be kept and absences notified as appropriate. Students are expected to notify the instructor of any absences. University Policy: A student who has an unsatisfactory attendance record or who performs poorly at progressive assessment tasks may be identified as being in need of support under the COR 4.01 Student Support Policy.|
|Prescribed resources:|| |
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.|
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Graduates are able to demonstrate knowledge of the basic generic and cognitive skills in management accounting, including an understanding of the role, importance and ethical requirements of management accountants, and their contribution to the success of the business. Graduates have knowledge of how accounting systems are key inputs to decision-making, and can discuss contemporary developments in management accounting.
- Graduates can identify the behaviour of revenues, costs, and profits, different cost structures, are able to separate fixed from variable components of cost, and apply this knowledge to the analysis and prediction of business outcomes. Graduates can distinguish between traditional and activity-based cost accounting systems, and can apply appropriate methods of cost allocation under each system.
- Graduates are able to apply relevant numeric and analytical skills, and demonstrate current theoretical knowledge, in different decision-making situations.
- Graduates can identify and communicate the importance of planning, control, and feedback in evaluating and improving business performance, and have the ability to develop appropriate budgets, and calculate, understand and communicate the likely causes of variances.
- Graduates are able to work cooperatively and contribute to action learning opportunities.
|Homework Exercise||Completion of homework questions before tutorial||10%||Ongoing||1, 2, 3, 4.|
|Paper-based Examination (Closed)||Mid-semester Examination||30%||Mid-Semester Examination Period||1, 2, 3, 4.|
|Project §||Team Project||20%||Week 11||1, 2, 3, 4, 5.|
|Paper-based Examination (Closed)||Final Examination||40%||Final Examination Period||1, 2, 3, 4.|
Students are required to achieve an aggregated score of 50% in order to pass this course.
- § Indicates group/teamwork-based assessment
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
|High Distinction||85-100||Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.|
|Distinction||75-84||Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.|
|Credit||65-74||Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.|
|Pass||50-64||Usually awarded to students whose performance meets the requirements set for work provided for assessment.|
|Fail||0-49||Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.|
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Students must check the [email protected] subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Additional subject information
• Content, learning outcomes, and assessment for this subject follow the requirements of global professional accounting bodies and international, national and university learning standards. • Students are expected to bring a calculator and writing material to all seminars. • To encourage active learning and attention, students are required to make their own notes of the material covered during instruction seminars. • Tutorial homework questions are provided with the aim of encouraging students to assume responsibility in the learning process. Tutorial homework will be checked in the revision seminar at the beginning of class. The tutorial homework mark will be determined based on the completeness of all tutorial questions throughout the semester. Each tutorial homework is worth a maximum of 1 mark. Homework not handed in at the commencement of the class will not earn marks. There will be no re-weighting to account for missed tutorials. • It is a requirement that students make a genuine attempt at all of the assessment items. • For weekly seminar problems, please refer to the "Readings and Homework" tab on iLearn. • A class representative will be elected in Week 2. • Teams will be formed early in the semester and will remain as a unit for team activities and team assessment throughout the duration of the semester. • CATME peer evaluations will be used to award individual marks for the team assignment, and therefore CATME submissions are mandatory. Penalties apply for students who do not submit a CATME evaluation when it is due. Note the instructor's decision will be final with regard to individual marks awarded for the team project. • As part of the requirements for quality accreditations, Bond Business School employs an evaluation process designed to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Introduction to Management Accounting; Ethics; Cost Concepts
Job Costing; Process Costing
Traditional Costing; Activity Based Costing
Cost Behaviour; Cost Function
Variable Costing; Absorption Costing
Flexible Budgets; Standard Costs; Variance Analysis
Support department cost allocation methods & control; Cost allocation criteria
Changes, if any, will be notified via iLearn