General Information
This subject is designed to develop advanced management accounting skills to address the contemporary business environment imperatives of customer value, technology driven solutions and knowledge-based organisations. The first part of this subject provides students with a framework for analysing a business’s unique cost and revenue structures, to facilitate managerial planning and control decisions. The second part of this subject focuses on the achievement of business objectives in today’s dynamic and complex business environments. Focus is on the strategic implications of managerial accounting information and the essentials of integrating external and internal factors into managerial decision making.
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Details
Academic unit: Bond Business School Subject code: ACCT71-102 Subject title: Management Accounting Subject level: Postgraduate Semester/Year: May 2023 Credit points: 10.000 -
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Standard Workload items: - Computer Lab: x12 (Total hours: 24) - Computer Lab 1
- Computer Lab: x12 (Total hours: 24) - Computer Lab 2
- Personal Study Hours: x12 (Total hours: 72) - Recommended study time & reviewing materials
Attendance and learning activities: Attendance at all class sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. -
Resources
Prescribed resources: Books
- Leslie G. Eldenburg, Albie Brooks, Judy Oliver, Gillian Vesty, Rodney Dormer,Vijaya Murthy, Nick Pawsey (2020). Management Accounting. 4th, Melbourne John Wiley & Sons 752
iLearn@Bond & Email: iLearn@Bond is the Learning Management System at Bond University and is used to provide access to subject materials, class 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
| Academic unit: | Bond Business School |
|---|---|
| Subject code: | ACCT71-102 |
| Subject title: | Management Accounting |
| Subject level: | Postgraduate |
| Semester/Year: | May 2023 |
| Credit points: | 10.000 |
| Timetable: | https://bond.edu.au/timetable |
|---|---|
| Delivery mode: | Standard |
| Workload items: |
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| Attendance and learning activities: | Attendance at all class sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. |
| Prescribed resources: | Books
|
|---|---|
| iLearn@Bond & Email: | iLearn@Bond is the Learning Management System at Bond University and is used to provide access to subject materials, class 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 |
Enrolment requirements
| Requisites: |
Nil |
|---|---|
| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge. Assumed Prior Learning (or equivalent):Basic spreadsheet skills are required for learning activities |
| Restrictions: |
Nil |
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:
- Explain the purpose of management accounting, the role of business strategy, and the different types of business structures and their implications for delegation of authority and control in complex business contexts.
- Critically apply traditional and advanced costing systems, pricing strategies, accounting methods, and quantitative techniques to support management decision making in a range of complex business situations.
- Prepare budgets and forecasts for management purposes and explain the role of budgets in managerial planning and control.
- Critically apply advanced theoretical and technical accounting knowledge and skills to formulate solutions to complex organisational strategy, planning, control, and performance evaluation problems, supported by analytical and quantitative techniques using spreadsheets and relevant business databases.
- Critically apply the principles and procedures involved in analysing and managing an organisation’s cash flow and working capital requirements in complex business situations.
- Resolve ethical conflicts by applying the standards, ethics, and professional values of the accounting profession to complex business issues.
- Demonstrate the ability to initiate, plan and execute a comprehensive group project in collaboration with others.
Generative Artificial Intelligence in Assessment
The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.
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Assessment details
Type Task % Timing* Outcomes assessed Computer-Aided Examination (Open) Comprehensive final timed assessment. 40.00% Final Examination Period 1,2,3,4,5,6 Computer-aided Test (Open) Multiple-choice questions and/short answers. 10.00% Week 3 1,2,4,6 Project Plan§ Students will work in teams to create a team charter and project plan. 5.00% Week 4 7 Computer-aided Test (Open) Multiple-choice questions and/short answers. 10.00% Week 6 3,4,5 Project Report§ Students will provide an interim report regarding their progress on the team project. 10.00% Week 9 1,2,3,4,5,6,7 Project Report§ Students will provide their final report for the team project. 25.00% Week 12 1,2,3,4,5,6,7 - § 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.
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Assessment criteria
Assessment criteria
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. Quality assurance
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.
| Type | Task | % | Timing* | Outcomes assessed |
|---|---|---|---|---|
| Computer-Aided Examination (Open) | Comprehensive final timed assessment. | 40.00% | Final Examination Period | 1,2,3,4,5,6 |
| Computer-aided Test (Open) | Multiple-choice questions and/short answers. | 10.00% | Week 3 | 1,2,4,6 |
| Project Plan§ | Students will work in teams to create a team charter and project plan. | 5.00% | Week 4 | 7 |
| Computer-aided Test (Open) | Multiple-choice questions and/short answers. | 10.00% | Week 6 | 3,4,5 |
| Project Report§ | Students will provide an interim report regarding their progress on the team project. | 10.00% | Week 9 | 1,2,3,4,5,6,7 |
| Project Report§ | Students will provide their final report for the team project. | 25.00% | Week 12 | 1,2,3,4,5,6,7 |
- § 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.
Assessment criteria
| 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. |
Quality assurance
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.
Study Information
Submission procedures
Students must check the iLearn@Bond 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 the Lead Educator grants an extension. 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.
Academic Integrity
Bond University‘s Student Code of Conduct Policy , Student Charter, Academic Integrity Policy and our Graduate Attributes guide expectations regarding student behaviour, their rights and responsibilities. Information on these topics can be found on our Academic Integrity webpage recognising that academic integrity involves demonstrating the principles of integrity (honesty, fairness, trust, professionalism, courage, responsibility, and respect) in words and actions across all aspects of academic endeavour.
Staff are required to report suspected misconduct. This includes all types of plagiarism, cheating, collusion, fabrication or falsification of data/content or other misconduct relating to assessment such as the falsification of medical certificates for assessment extensions. The longer term personal, social and financial consequences of misconduct can be severe, so please ask for help if you are unsure.
If your work is subject to an inquiry, you will be given an opportunity to respond and appropriate support will be provided. Academic work under inquiry will not be marked until the process has concluded. Penalties for misconduct include a warning, reduced grade, a requirement to repeat the assessment, suspension or expulsion from the University.
Feedback on assessment
Feedback on assessment will be provided to students according to the requirements of the Assessment Procedure Schedule A - Assessment Communication Procedure.
Whilst in most cases feedback should be provided within two weeks of the assessment submission due date, the Procedure should be checked if the assessment is linked to others or if the subject is a non-standard (e.g., intensive) subject.
Accessibility and Inclusion Support
Support is available to students where a physical, mental or neurological condition exists that would impact the student’s capacity to complete studies, exams or assessment tasks. For effective support, special requirement needs should be arranged with the University in advance of or at the start of each semester, or, for acute conditions, as soon as practicable after the condition arises. Reasonable adjustments are not guaranteed where applications are submitted late in the semester (for example, when lodged just prior to critical assessment and examination dates).
As outlined in the Accessibility and Inclusion Policy, to qualify for support, students must meet certain criteria. Students are also required to meet with the Accessibility and Inclusion Advisor who will ensure that reasonable adjustments are afforded to qualifying students.
For more information and to apply online, visit BondAbility.
Additional subject information
This is a compulsory subject for eligibility requirements for Certified Practising Accountants Australia (CPA Australia) and Chartered Accountants Australia and New Zealand (CA ANZ). A peer-evaluation system will be used in this subject to help determine the individual marks for all group assessments. As part of the requirements for Business School quality accreditation, the Bond Business School employs 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.
Subject curriculum
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Introduction
Introduce management accounting and explain how it differs from financial accounting. Consider the ethical requirements of professional accountants and the application of fundamental principles to the management accountant’s decision making. Introduce external strategic analysis tools including PESTEL, Porter’s five forces, and market segmentation analysis. Introduce internal strategic analysis tools including value chain analysis, SWOT analysis, and competitive advantages. Introduce working capital management and relevant accounting ratios to support objectives of working capital management. Conclude with an introduction to key cost terminology and allocation procedures.
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Job and process costing
Begin with an overview product costing in a manufacturing environment and extends to job costing and process costing systems and the differences between the two. Methods for calculating costs and recording appropriate journal entries for each system are introduced.
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Activity-based costing
The traditional cost allocation system is contrasted with the more contemporary activity-based costing system regarding the allocation of overhead costs. Applications of activity-based costing concepts to a range of scenarios are explored.
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Cost behaviour and estimation
Pricing decisions, budgeting decisions, profit forecasts all depend on accurate cost predictions. The application of account analysis and regression analysis to estimate a cost function is demonstrated, including the use of spreadsheet software to graph and estimate a cost function.
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Variable costing and applications
The usefulness of absorption costing and variable costing income statement formats are contrasted. Focus is given to internal decision making, planning and performance evaluation. Cost volume profit analysis is introduced and used to determine break-even points, target profit, evaluate operating risk, and make special-order decisions. Margin of safety, break-even analysis for multiple products, operating leverage and the management of fixed and variable costs are covered.
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Master budget and variance analysis
Introduce the purpose and benefits of preparing a master budget. Demonstrate the process of creating a master budget and accompanying component budgets, including those relating to sales, production, costs, operations, cash, and various supporting schedules, that enable the preparation of a budgeted income statement and budgeted balance sheet. Calculation and interpretation of variances, and making recommendations for improvement, are emphasised.
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Pricing decisions
Price elasticity and optimal price and demand analysis, cost-plus and market-based pricing, target costing, price skimming and penetration pricing are explored. Introduce key performance indicators to evaluate sales performance.
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Operating decisions and working capital management
Consider the relevant and irrelevant information in various decision situations (e.g., outsourcing, dropping a department, product mix, and equipment replacement). Concepts surrounding the consideration of opportunity costs, quantitative and qualitative factors in decision making are highlighted. Linear programming is introduced for product-mix decisions. Cash flow and working capital management principles are introduced. Just-in-time inventory management and economic order quantity are explored.
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Capacity investment decisions
Consider relevant cash flows for long-term investment decisions. Coverage is given to capital budgeting techniques, including NPV analysis, IRR, accounting rate of return, and payback period. Discussions are also given to after-tax effect on cash flows and depreciation shield. Discuss conflicts between long-term decision-making model and performance evaluation model using accounting numbers. Agency conflicts are identified and suggestions on performance evaluation models that might mitigate these conflicts are also examined.
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Performance review in decentralised firms
Performance evaluation and the promotion of goal congruency, examples of dysfunctional behaviours, and an overview of agency costs, are covered. Balanced scorecard model to evaluate strategy is introduced. Compare decentralised and centralised organisational control and identifies advantages and disadvantages of both. Single-rate and dual-rate methods of cost allocation of support department costs. The implications of transfer pricing on taxes and performance evaluation.