Management Accounting A

Abstract

Examines the way in which accountants provide financial and other information for managers to use within organisations. Focuses on the design and operation of product costing systems, on the design and operation of accounting control systems, and on contemporary management interventions to achieve world-class performance. Topics include computer financial modelling, job costing, process costing, Activity Based Costing (ABC), JIT cost allocation issues, joint costing, budgeting, variance analysis, responsibility accounting, performance measurement, theory of constraints, kaizen, business process re-engineering, economic value, balanced scorecard and international dimensions of management accounting.

Syllabus

Management accounting functions, terms and cost flows.Accounting for and control of materials, labour and overhead costs.Activity based costing for more accurate tracing of overhead costs.Traditional costing systems: job costing, process costing, operation costing, joint costs, and standard costs.Alternative costing systems: variable costing, JIT costing, ABC, throughput costing.Feedforward control: comprehensive budgeting. … For more content click the Read More button below.

Management accounting functions, terms and cost flows.
Accounting for and control of materials, labour and overhead costs.
Activity based costing for more accurate tracing of overhead costs.
Traditional costing systems: job costing, process costing, operation costing, joint costs, and standard costs.
Alternative costing systems: variable costing, JIT costing, ABC, throughput costing.
Feedforward control: comprehensive budgeting. Feedback control: theories of motivation, budgetary participation, flexible budgets, and standard cost variances.
Responsibility accounting and accounting controls: organisation structure, responsibility accounting, decentralised organisations, ROI, RI and EVA performance measures.
Multiple performance measures: characteristics of performance measures, use of accounting controls in performance evaluation, contemporary management practices, business process reengineering, total quality management, continuous improvement, benchmarking, costs of quality, time, productivity, flexibility, innovation, the balanced scorecard, application of management accounting tools in international setting.

Learning outcomes

Upon successful completion of this subject, students should:

be able to demonstrate technical, computational, and analytical skills associated with the design and operation of product costing and accounting control systems;

be able to describe issues associated with contemporary performance measurement;

be able to use computer spreadsheets as an aid to product costing, budgeting and performance evaluation;

be able to communicate effectively in designing reports for management;

be able to describe cultural and international dimensions of management accounting.

Assumed knowledge

Nil

Enrolment restrictions

Bachelor of Business Studies students only.

Pre-requisite

Incompatible