Credit Points: 15

Prerequisite: BB210 Introductory Management Accounting

Co-requisite: N/A

Workload: 36 contact hours

Campus: Melbourne, Sydney

Aims & Objectives

This is a second-year Core Unit in the Bachelor of Business, major in Accounting. This unit focuses on multi-faceted challenges facing by the function of management accounting in contemporary organisations. Building on basic management accounting concepts studied in preceding units, this unit aims to provide students with knowledge in terms of the processes and technologies that enable the effective and efficient use of organisational resources by management to enhance the value of the organisation to shareholders and other stakeholders.  The unit develops student expertise in the accumulation and processing cost information. Emphasis is placed on budgeting, standard costing and variance analysis with flexible budget; performance evaluation in divisional organisations and the balanced scorecard. Equip the student capable of applying management accounting information in decision making.

Unit topics include:

  • Overhead costs
  • Activity based costing
  • Standard costs
  • Performance measures in a range of situations
  • Managing Suppliers and Customers
  • Managing costs and quality
  • Sustainability and management accounting
  • Capital expenditure (asset investment)

Learning Outcomes

At the completion of this unit students should be able to:

  1. Demonstrate advanced understanding of management accounting in the contemporary business environment
  2. Develop and apply appropriate approaches to generate cost information for business decisions
  3. Describe and explain the role of performance management in the analysis of business performance
  4. Analyse and apply diverse performance measures to a range of performance management problems
  5. Explain and evaluate the relationships between customers, suppliers, costs and quality

Teaching Method

Lecture: 2 hours
Tutorial/Workshop: 1 hour
Face to Face

Assessment

Assessment Task
Learning Outcomes Assessed
Weighting
Contribution in class a-e* 10%
Class Test 1 a,b* 10%
Class Test 2 c,d,e* 10%
Group Assignment (Written Report) a-d* 10%
Group Assignment (Presentation) a-d* 10%
Final Examination (3 hours) a-e* 50%
Total   100%

*refer to learning outcomes above.

Textbook

Note: Students are required to purchase the prescribed text book and have it available each week in class.

Prescribed Text Book:

Mowen, M., Hansen, D., Heitger, D., Sands, J., Winata, L. & Su, S., (2016). Managerial Accounting, 1st edition. South Melbourne: Cengage Learning.


Reference Reading

  • Hansen, R., & Mowen, M., (2017). Cornerstones of Cost Management, 4th edition. US: Cengage Learning
  • Edward J., & Maria R. M. (2016). Principles of Cost Accounting, 17th edition. US: Cengage Learning
  • Horngren, C.T., Datar, S. M., Foster, G., Rajan, M.V. and Ittner, C., (2011). Cost Accounting: A Managerial Emphasis, 1st Australian edition. Sydney: Pearson Prentice-Hall
  • Garrison, R.H., Noreen, E.W. and Brewer, P.C., Managerial Accounting, (2006), 11th edition. Sydney: McGraw Hill.
  • Weygandt, J.J., Kimmel, P.D., and Kieso, D.E., (2008). Managerial Accounting: Tools for Business Decision Making, 4th edition. New Jersey: John Wiley & Sons

 

Journal articles

  • Anessi-Pessina, E., Barbera, C., Sicilia, M., & Steccolini, I. (2016). Public sector budgeting: A European review of accounting and public management journals. Accounting, Auditing and Accountability Journal, 29(3), 491-519.
  • Christ, K. L., & Burritt, R. L. (2015). Material flow cost accounting: A review and agenda for future research.
  • Gullberg, C. (2016). What makes accounting information timely? Qualitative Research in Accounting and Management, 13(2), 189-215.
  • Pawsey, N. (2015). Water Management Accounting and the Wine Supply Chain: Empirical Evidence from Australia. Social and Environmental Accountability Journal, 35(3), 195.
  • Wall, F. (2016). Agent-based modeling in managerial science: an illustrative survey and study. Review of Managerial Science, 10(1), 135-193.

Adopted Reference Style: APA can be found in MIT library referencing  

 

MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:

Ability to communicate Independent and Lifelong Learning Ethics Analytical and Problem Solving  Cultural and Global Awareness Team work Specialist knowledge of a field of study
             

Legend

Colour coding    

Extent covered

                                The standard  is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations
  The standard is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations
  The standard is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations 
  The standard is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by  activities such as lectures or tutorials
  The standard  is not considered, there is no theory or practice or activities associated with this standard