| Effective Term: | 2024/20 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Advanced Management Accounting |
| Unit ID: | BUACC3714 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (BUACC1508) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 080101 |
| Other Change: | |
| Brief description of the Unit |
The unit is a comprehensive unit that addresses the key influences on management accounting systems and the changing role of management accountants. It enables students to develop an understanding of the theoretical and practical aspects of management accounting. It covers both the conventional and the contemporary approaches to designing management accounting systems. The conventional approaches include product costing systems, budgeting and the use of standard costs. The contemporary approaches covered in this unit include an integration of both financial and non-financial measures into a strategic performance measurement system, sustainability and corporate social responsibility. The unit also includes an examination of incremental analysis and capital expenditure decisions. Each topic is introduced by a critical review of key theoretical concepts that are then applied to practical settings. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: | |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | | | | | Intermediate | | |  | | | | | Advanced | | | | | | |
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| Learning Outcomes: |
| Knowledge: |
| K1. | Explain the role of management accounting and identify the internal and external factors influencing business decisions |
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| K2. | Examine essential techniques that aid the managerial functions of planning, control, and decision making including the budgeting process |
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| K3. | Examine the contemporary approaches to measuring and managing performance |
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| K4. | Assess the impact of accounting-based information on individuals, organisations and society |
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| Skills: |
| S1. | Review cost accounting information in a logical, reasonable and timely manner to provide solutions for managerial use |
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| S2. | Prepare budgets and forecasts and analysis of cost accounting problems for management purposes |
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| S3. | Generate cost information to make informed decisions |
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| S4. | Translate conceptual material into practice through the use of communication and interpersonal skills in teams |
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| S5. | Evaluate organisational performance and prepare reports for management decision making |
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| Application of knowledge and skills: |
| A1. | Adapt and apply management accounting knowledge and skills in diverse and novel settings |
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| A2. | Apply the principles and procedures involved in managing working capital |
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| Unit Content: |
Topics may include:
1. Cost and management accounting in the changing business environment
2. Cost terms, concepts and classifications
3. Product costing systems
4. Responsibility accounting: budgets, standard costs and variance analysis
5. Managing and reporting performance in responsibility centres; transfer pricing
6. Activity-based costing
7. Strategic performance measurement systems
8. Sustainability reporting
9. Incremental analysis
10. Capital expenditure decisions |
| Graduate Attributes: |
| Federation University recognises that students require key transferable employability skills to prepare them for their future workplace and society. FEDTASKS (Transferable Attributes Skills and Knowledge) provide a targeted focus on five key transferable Attributes, Skills, and Knowledge that are be embedded within curriculum, developed gradually towards successful measures and interlinked with cross-discipline and Co-operative Learning opportunities. One or more FEDTASK, transferable Attributes, Skills or Knowledge must be evident in the specified learning outcomes and assessment for each FedUni Unit, and all must be directly assessed in each Course.
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| FED TASK and descriptor | Development and acquisition of FEDTASKS in the Unit | | Level | FEDTASK 1
Interpersonal | Students will demonstrate the ability to effectively communicate, inter-act and work with others both individually and in groups. Students will be required to display skills in-person and/or online in: • Using effective verbal and non-verbal communication • Listening for meaning and influencing via active listening • Showing empathy for others • Negotiating and demonstrating conflict resolution skills • Working respectfully in cross-cultural and diverse teams. | Level 2 - Student demonstrates some independence within provided guidelines | FEDTASK 2
Leadership | Students will demonstrate the ability to apply professional skills and behaviours in leading others. Students will be required to display skills in: • Creating a collegial environment • Showing self -awareness and the ability to self-reflect • Inspiring and convincing others • Making informed decisions • Displaying initiative | N/A - Not Applicable | FEDTASK 3
Critical Thinking and Creativity | Students will demonstrate an ability to work in complexity and ambiguity using the imagination to create new ideas. Students will be required to display skills in: • Reflecting critically • Evaluating ideas, concepts and information • Considering alternative perspectives to refine ideas • Challenging conventional thinking to clarify concepts • Forming creative solutions in problem solving. | Level 2 - Student demonstrates some independence within provided guidelines | FEDTASK 4
Digital Literacy | Students will demonstrate the ability to work fluently across a range of tools, platforms and applications to achieve a range of tasks. Students will be required to display skills in: • Finding, evaluating, managing, curating, organising and sharing digital information • Collating, managing, accessing and using digital data securely • Receiving and responding to messages in a range of digital media • Contributing actively to digital teams and working groups • Participating in and benefiting from digital learning opportunities. | Level 2 - Student demonstrates some independence within provided guidelines | FEDTASK 5
Sustainable and Ethical Mindset | Students will demonstrate the ability to consider and assess the consequences and impact of ideas and actions in enacting ethical and sustainable decisions. Students will be required to display skills in: • Making informed judgments that consider the impact of devising solutions in global economic environmental and societal contexts • Committing to social responsibility as a professional and a citizen • Evaluating ethical, socially responsible and/or sustainable challenges and generating and articulating responses • Embracing lifelong, life-wide and life-deep learning to be open to diverse others • Implementing required actions to foster sustainability in their professional and personal life. | Level 2 - Student demonstrates some independence within provided guidelines |
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| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2, K3, S1, S2, S3 | First review of selected topics | Mid-term test | 10-20% | | 2. | K1, K2, K3, S1, S2, S3, S4, S5, A1, A2 | Group case study and/or task | Written assignment | 20-30% | | 3. | K1, K2, K3, S1, S2, S3, S4, S5, A1, A2 | Second review of selected topics, group case study related test | Individual oral presentation (recorded) | 10-20% | | 4. | K1, K2, K3, K4, S1, S2, S3, S5 | Comprehensive review of all topics | Invigilated oral exam | 30-40% |
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