Unit convenor and teaching staff |
Unit convenor and teaching staff
Sophia Su
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
40cp at 1000 level or above including ACCG1000
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit is the first of the two units in cost and management accounting that are required for accreditation with CPA Australia, the Chartered Accountants Australia and New Zealand (CAANZ) and the Institute of Public Accountants (IPA). The unit explains how cost information is generated and used in organisations for decision making purposes. There are three main parts to the unit: 1) using costs for decision making; 2) costing techniques (job/process costing and cost allocations); and 3) budget setting and evaluating performance against the budget. By the end of the unit, students are able to distinguish between the various product costing techniques available, solve problems by identifying and selecting appropriate courses of action, and demonstrate an understanding of budgeting techniques and the behavioural issues associated with budgeting practices. |
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
1. Assessed Coursework (30%)
Assessed coursework consists of two components: Weekly Assignment (15%) and Class Participation (15%).
Weekly Assignment
The weekly assignments require students to complete the weekly homework questions provided on iLearn. Students are required to submit their weekly assignment via Turnitin on iLearn by 11 am on Mondays. During the session, 5 weekly assignments will be randomly selected and assessed. A maximum of 3 marks will be awarded for each weekly assignment assessed.
Class Participation
Students' participation during each tutorial will be marked out of 1.5 marks each week, accounting for 15% of the total grade (N.B. Tutorials will commence in week 2 and no participation will be assessed in week 7 and week 13).
2. Class Test (50%)
Two online class tests will be conducted via iLearn in weeks 7 and 13 (PLEASE BRING YOUR LAPTOP TO CLASS). Further information will be provided via on iLearn.
No extension will be granted except for cases in which an application for special consideration is made and approved. A mark of zero will be awarded for non-submission.
3. Excel Assignment (20%)
Students are required to listen to an online lecture and study twenty (20) videos provided on iLearn regarding Excel skills. Students are required to complete and submit the Excel assignment via iLearn by 11:55pm on Monday 9 September (Week 8). More details about the Excel assignment will be available on iLearn in due course.
Late Assessment Submission Penalty
Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted.
For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration.
Name | Weighting | Hurdle | Due |
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Assessed Coursework | 30% | No | Weekly |
Class Test | 50% | No | Weeks 7 and 13 |
Excel Assignment | 20% | No | 2024-09-09 |
Assessment Type 1: Participatory task
Indicative Time on Task 2: 25 hours
Due: Weekly
Weighting: 30%
During the session, students’ coursework and class participation will be assessed. This includes: asking questions and engaging with other students and tutor and in-tutorial activities and discussions.
Students are expected to make a genuine attempt at completing the weekly assigned homework and tutorial questions which will be randomly collected and assessed by the tutor.
Further details will be in the unit website.
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 40 hours
Due: Weeks 7 and 13
Weighting: 50%
Two class tests will be conducted during the session.
Assessment Type 1: Quantitative analysis task
Indicative Time on Task 2: 15 hours
Due: 2024-09-09
Weighting: 20%
The excel assignment will allow students to demonstrate competences in the use of excel spreadsheets and their use in management accounting. Further details on the excel assignment will be made available via the unit website.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Classes
Students should attend three hours of face-to-face/online teaching per topic consisting of a one-and half hour lecture and a one-and-half hour tutorial. Students are advised to note that any changes to tutorial classes must be made online through eStudent. Students wishing to change their tutorial time should login to eStudent and enrol in a class where there is a vacancy. Staff members WILL NOT deal with tutorial changes unless there are exceptional circumstances. It is each student’s responsibility to know which tutorial group they have been allocated to. Students will not be awarded any tutorial marks unless they attend the class in which they are formally enrolled.
Prizes
Details of prizes for this unit are available at: http://www.businessandeconomics.mq.edu.au/undergraduate_degrees/prizes_scholarships.
Required and Recommended Texts and/or Materials
Management Accounting: Information for Creating and Managing Value By Kim Langfield-Smith, David Smith, Paul Andon, Ronald Hilton, and Helen Thorne, 9th edition 2021, McGraw-Hill.
Access to this text is essential for lecture references and revision questions. This text can be purchased online from Booktopia https://www.booktopia.com.au/coop
Unit Web Page
The web page for this unit can be found at: http://ilearn.mq.edu.au
You should also contact the IT helpdesk if you need assistance with using this website. Alternatively, use the help feature provided. Make sure that when you have finished website that you Log Out. Failure to do so could allow unauthorised access to your account.
The following information will be available on the website: • Assessment guide • Important announcements • Lecture notes • Staff consultation hours • Staff contact details • Tutorial questions and solutions • Online practice quizzes • Other relevant material
You are encouraged to regularly check the website and use it as an information and resource centre to assist with your learning.
Teaching and Learning Strategy
The course is structured around a 1.5 hour lecture and a 1.5 hour tutorial per topic. Lectures are intended to provide students with an overview of the main concepts and techniques. Lectures may not cover all of the material and students are expected to read all of the prescribed references prior to the lecture. Tutorials will be run on a workshop basis with students being given the opportunity to apply the concepts to additional problems and exercises. The tutorials are designed to provide an interactive environment in which students will be able to discuss issues and problems with each other, and their tutor, in order to improve their understanding of material. Regular class attendance, reading of prescribed references and the completion of tutorial and revision questions are essential for satisfactory progress in this course.
Lecture slides and additional material for tutorials and lectures will be available to download via the unit website. Any other announcement regarding the unit will also be available from the website.
Lecture Week |
Week commencing: |
Topic |
Prescribed references |
1 |
22 July |
Introduction & Basic cost concepts and terms |
Chapter 1 Chapter 2 Chapter 3 |
2 |
29 July |
Cost Volume Profit Analysis |
Chapter 18 |
3 |
5 August |
Product Costing Systems – Job Costing
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Chapter 4 pp.125-136 and pp.138-151 |
4 |
12 August |
Process Costing
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Chapter 4 pp.136-138 and pp.151-154; Chapter 5 pp.177-184
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5 |
19 August |
A Closer Look at Overhead Costs
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Chapter 7 |
6 |
26 August |
Excel Lecture (pre-recorded)
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All Excel videos and the Excel assignment |
7 |
2 September |
Activity-Based Costing Class Test 1 due in your tutorial
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Chapter 8 |
8 |
9 September |
Absorption and Variable Costing Service Costing
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Chapter 6 Chapter 7 pp.306-311 |
MID-SESSION BREAK (From 16 to 29 September)
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9 |
30 September |
Information for Decisions
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Chapter 19 |
10 |
8 October |
Product Mix Decisions
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Chapter 20 pp. 933-938; pp. 945-947; pp. 952-955 |
11 |
14 October |
Budgeting
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Chapter 9 Chapter 11 pp. 494-498 |
12 |
21 October |
Standard Costing for Control |
Chapter 10 Chapter 11 pp. 498-511 |
13 |
28 October |
Online Test 2 due in your tutorial |
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Unit information based on version 2024.05 of the Handbook