Part A: Course Overview

Program: C6181 Advanced Diploma of Accounting

Course Title: Prepare and analyse management accounting information

Portfolio: Vocational Education

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5392C

City Campus

TAFE

525T Business & Enterprise

Face-to-Face or Internet

 Term2 2023,
Term2 2024

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to gather, record and analyse operating costs and data, prepare cost reports and budgets, and calculate the costs of products, services and other organisational activities.

It applies to individuals who use specialised knowledge and techniques to consolidate and report on complex information and make recommendations relating to strategic organisational activity.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

The following unit is a pre-requisite for this unit:

ACCT5444C (FNSACC527) Provide management accounting information



National Competency Codes and Titles

National Element Code & Title:

FNSACC613 Prepare and analyse management accounting information

Elements:

1. Gather and record operating and cost data

2. Analyse data and assign costs

3. Prepare cost reports and budgets

4. Analyse cost reports and budgets, and review costing system integrity

Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • gather and record operating and cost data in accordance with organisational policy and procedures
  • determine cost and operating standards for a costing system
  • analyse data and assign costs to comply with organisational procedures
  • prepare a range of cost reports and budgets to meet management information requirements
  • analyse variances against budget and standards
  • recommend changes to cost and activity standards
  • recommend further actions required resulting from review process
  • review integrity of costing systems

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • identify and describe cost behaviour characteristics for the different cost elements of a product or service
  • describe the principles of double-entry bookkeeping and accrual-based accounting
  • identify and discuss the key features of organisational policy and procedures as they apply to costing systems
  • identify and explain the key principles and practices of budget preparation
  • discuss the relationship between variance analysis and costing system integrity
  • explain the key processes and procedures for recording and securely storing data

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

  • common office equipment, technology, software and consumables.
  • an integrated financial software system and data

Assessors must satisfy NVR/AQTF assessor requirements.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.