22753 Cost Management and Analysis
Warning: The information on this page is indicative. The subject outline for a
particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2021 is available in the Archives.
Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksRequisite(s): 22747 Accounting for Managerial Decisions OR 22800 Understanding Accounting and Financial Reports
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Description
The management and analysis of costs is fundamental to contemporary management accounting practices. Research shows that effective cost management and analysis practices can provide an organisation with a competitive advantage. This subject provides students with knowledge and skills for a broad range of important cost management and analysis practices. Topics include the budgeting and forecasting of costs and profits, the modelling and analysis of cost behaviours for operational and strategic purposes, and the control of costs using standard and flexible variance analyses.
The subject presents a broad range of exercises based on practical, 'real-life' managerial situations, paying particular emphasis to building sustainable organisations.
Subject learning objectives (SLOs)
| 1. | evaluate cost management principles and the roles that they play in modern strategic management accounting practices |
|---|---|
| 2. | apply a range of analysis and decision models to cost products and services, to solve problems and to control performance |
| 3. | integrate cost management principles to support tactical and strategic decision-making |
| 4. | understand and apply information and communications technology tools to support cost accounting analysis and decisions |
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the following program learning objectives:
- Critically evaluate and apply sustainability principles to decisions in professional accounting practice (4.2)
Contribution to the development of graduate attributes
This management accounting subject is designed to connect strongly to contemporary practices. The aim is to provide knowledge and skills for a broad range of essential cost management and analysis practices. The subject is relevant to accountants and also to non-accounting managers. The overall focus is the modelling and analysis of complex cost behaviours.
This subject contributes to the development of the following graduate attributes:
- Critical thinking, creativity and analytical skills
- Attitudes and values
- Business practice oriented skills
This subject also contributes specifically to develop the following Program Learning Objectives for the Master of Professional Accounting:
- Apply innovative problem-solving processes to address business issues (2.2)
- Apply high level technical skills necessary to operative effectively in professional accounting practice (5.1)
Teaching and learning strategies
This subject is designed on the philosophy that, to become practice-ready: (1) students learn best by using cost accounting tools common in practice and; (2) students learn best by solving cost modelling and analysis problems sourced from professional practice. This strategy aligns with the UTS Model of Learning for graduates to be “work-ready” and to provide a “practice-oriented education”. The group assignment task is a cost system design and analysis case study designed to encourage critical thinking about the textbook and lectures' content.
The subject is delivered through a three-hour seminar each week. Pre-assigned materials (readings, case studies and audio-visual) and learning tasks will also be made available for students to complete independently.
Students of this subject are required to:
- Attend all scheduled seminars
- Complete all subject assessments
- Check for announcements on the learning management system regularly
- Read the entire subject outline
Act in an ethical manner in the completion of the requirements of this subject and to not engage in any malpractice that will provide you with an unfair advantage over other students.
In particular, the University has strong policies regarding plagiarism and cheating, which can lead to severe penalties or expulsion.
It is expected that students will have read the online and/or other material that has been allocated for a particular week and are prepared to discuss those materials in seminars. Students must listen, take notes and actively participate in the weekly class. Students should be active in asking questions and participating in discussions. Students will need to learn a variety of theoretical concepts in order to solve the numerous and diverse practical problems contained in the subject.
Content (topics)
- Business processes
- Systems documentation
- Costing principles, behaviour and estimation
- Product costing systems
- Process costing
- Activity-based costing and the allocation of overheads
- Budgeting and variance analysis
- Database management systems
- Business analysis and sustainability
Assessment
Assessment task 1: In-class quizzes (Individual)
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 30% |
| Length: | Duration for each quiz is 45 minutes |
Assessment task 2: Group Assignment (group)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 20% |
Assessment task 3: Final Exam (individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 This addresses program learning objectives(s): 4.2 |
|---|---|
| Weight: | 50% |
| Length: | Duration: 2 hours |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Course Textbook:
Eldenburg, Management Accounting, 4th Edition. John Wiley and Sons.
Print ISBN : 9780730369387 | Digital ISBN : 9780730369424