ACCT 2001 Contemporary Management Accounting

Credit Points 10

Legacy Code 200108

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Description This subject examines the role of contemporary management accounting systems and techniques as well as the factors that influence the design of these systems. Students learn about appropriate choices of the different management accounting techniques and the importance of strategy in the contemporary business environment. Students expand their knowledge by applying techniques through real-life scenarios, and analysing and make recommendations that take into account the constraints and opportunities each present. Through the design of performance measurement systems, students demonstrate skills in critical thinking and decision making valued in the accounting organisations.

School Business

Discipline Accounting

Student Contribution Band HECS Band 4 10cp

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Level Undergraduate Level 2 subject

Pre-requisite(s) FINC 1001 or ACCT 1010

Learning Outcomes

On successful completion of this subject, students should be able to:

Explain the role of management accounting systems in supporting business strategy and the limitations of traditional management accounting techniques
Communicate solutions in a clear, concise and ethical manner supported by analysis to assist management in decision making, resource management and value creation
Identify the factors that influence the design of management accounting systems and choice of contemporary management accounting techniques
Design a strategic performance measurement system using the balanced scorecard to incorporate non-financial performance measures
Apply contemporary management accounting techniques to real life scenarios
Collaborate with diverse team members to plan and complete a group project dealing with management accounting concepts and recommendations

Subject Content

Balanced score card, key performance indicators, performance benchmarking.
Profitability analysis.
Product life cycle and target costing.
Pricing and product mix decisions.
Business process re-engineering.
Inventory management techniques.
Quality management: measurement and control, and cost of quality reports.
Productivity: measurement and control, productivity analysis, value added, non-value added.
Value chain analysis.
Strategic management accounting.
Behavioural issues, performance related remuneration.
Sustainability and environmental management accounting

Assessment

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Type	Length	Percent	Threshold	Individual/Group Task	Mandatory
Practical	Weekly	10	N	Individual	Y
Quiz	5 times throughout teaching term	10	N	Individual	Y
Case Study	2000 words	20	N	Group	Y
Final Exam	2 hours	60	Y	Individual	Y

Prescribed Texts

Langfield-Smith, K, Smith, D, Andon, P, Hilton, R, & Thorne, H, 2022, Management accounting: information for creating and managing value, 9th edn, McGraw-Hill Australia, Sydney, NSW.

Teaching Periods