Course Title: Provide management accounting information

Part A: Course Overview

Program: C5424 Diploma of Accounting

Course Title: Provide management accounting information

Portfolio: Vocational Education

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5444C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face or Internet

 Term2 2023,
Term1 2024

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to gather, record and analyse operating and cost data, prepare budget reports, and review costing system integrity to calculate and record the costs of products and services.

The unit applies to individuals who use specialised knowledge and analytical skills to manage complex financial data and develop comprehensive organisational reports.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

There is no pre-requisite for this unit.



National Competency Codes and Titles

National Element Code & Title:

FNSACC527 Provide management accounting information

Elements:

1. Gather and record operating and cost data

2. Analyse data and assign costs

3. Prepare cost reports and budgets

4. Analyse variances and review costing system integrity

Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • analyse data and information and provide management accounting information for each of the following:
  • at least two sets of operating and cost data
  • costs for at least two products, services or organisational units
  • at least one cost report and budget according to management information requirements
  • at least one report on variance between budgeted and actual data; and review integrity of costing systems.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • cost behaviour characteristics for different cost elements of a product or service
  • organisational policies and procedures that apply to costing systems
  • key requirements of management accounting information relating to own role
  • key principles and practices of budget preparation
  • relationship between variance analysis and costing system integrity.

 

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • office equipment, technology, software and consumables required to prepare cost reports and budgets, including an integrated financial software system and data.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.