This unit of study introduces students to the core knowledge requirements of management/cost accounting useful for managerial decision making. Students develop the basic skills to use an industry-standard accounting system and management accounting information efficiently and effectively. Students learn to apply relevant numerical and analytical skills as a basis for understanding developments in management accounting and the current theoretical knowledge that is the context for these skills. Areas specifically covered include cost terms and purposes, cost behaviour, cost-volume-profit analysis, cost estimation, alternative product costing methods, detailed study of budgeting process mechanics (master budgets, flexible budgets, standard costing and variance analysis, capital budgeting), decision making using relevant costs/revenues, and cost allocation. Key topics include the value chain framework, management controls, Balanced Scorecards, strategy maps, responsibility accounting, transfer pricing and organisational structures. Students are exposed to contemporary developments in management accounting and learn to use costing information for planning and control to evaluate the performance of an organisation.
Unit details and rules
Academic unit | Accounting |
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Credit points | 6 |
Prerequisites
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(ACCT1001 or ACCT1005 or BUSS1030) and (ACCT1002 or ACCT1006) |
Corequisites
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None |
Prohibitions
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ACCT2012 |
Assumed knowledge
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None |
Available to study abroad and exchange students | Yes |
Teaching staff
Coordinator | Vijaya Murthy, vijaya.murthy@sydney.edu.au |
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Lecturer(s) | Paul Blayney, paul.blayney@sydney.edu.au |
Ravi Seethamraju, ravi.seethamraju@sydney.edu.au | |
Tutor(s) | Gigi Wongwaiwetch, gigi.wongwaiwetch@sydney.edu.au |
Munna Salekin, munna.salekin@sydney.edu.au |