Management Accounting (11213.2)

The unit covers the fundamental concepts and tools used by accountants to provide information for management planning and control, as well as identify and measure the cost of products and services for performance reporting purposes.

The focus of this unit is how accounting is used within organisations and developing the technical competence necessary for students to understand the role of cost information in organisational decision making. Ethical issues related to management accounting profession and practices are embedded throughout the unit.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Explain the role of management accounting in organisations;
2. Apply cost behaviour, estimate cost functions and demonstrate an understanding of issues that arise in estimating costs in practice;
3. Interpret and apply fundamental cost concepts, costing methods and cost allocation approaches in a variety of decision making settings;
4. Explain and apply a range of management accounting techniques including flexible budgeting, transfer pricing and cost-management approaches to a variety of decision making contexts, including in a decentralised organisation; and
5. Explain and apply different approaches to pricing of products.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
2. UC graduates are global citizens - understand issues in their profession from the perspective of other cultures

Prerequisites

11009 Business Decision Making

Corequisites

None.

Incompatible units

6253 Management Accounting PG

Equivalent units

6375 Management Accounting

Assumed knowledge

Basic Mathematics.