ACC512 - Management Accounting for Costs & Control
Session 1 2016
Faculty of Business
School of Accounting and Finance Internal Mode
Subject Overview
This subject focuses on management accounting for cost and control purposes in an organisational context. It emphasises the use of quantitative techniques and computer software including spreadsheets. The subject includes an overview of management accounting perspectives with an emphasis on systems design and provides a framework for problem solving and analysis of conventional and modern cost accounting paradigms including job and process costing, standard costing and variance analysis, relevant costs for decisions, activity-based costing, kaizen costing, just-in-time, target costing, control systems, benchmarking, performance evaluation and balanced scorecard.
Learning outcomes
On successful completion of this subject, you should
be able to discuss and critique the historical and ethical development of management accounting;
be able to apply cognitive skills in the design and operation of costing systems; be able to critically evaluate the design and operation of performance management systems; be able to explain the role of management accounting in organisational contexts and the implications for management accounting of different paradigms; be able to apply analytical and synthetical skills in report writing, and use quantitative techniques and computer software including using the Internet as a professional source; be able to create and implement computerised decision models; be able to critique how managers make decisions.
Lecturer Details
Subject Coordinator Sajjad Khan Email sakhan@csu.edu.au Phone To be advised.
Contact phone number 03 99357927
Campus Other
Building/Room number To be advised.
About your lecturer
Harish Rajan, B.Com, M. Com, CPA

I am a Certified Practicing Accountant and have over 20 years’ experience in the field of accounting. I have worked in the industry for about 15 years in various capacities like ‘Finance Manager’ and ‘Management Accountant’. For the last 5 years I have been teaching ‘Accounting’ at various levels including at Universities. I am currently a lecturer for accounting units at ‘Charles Darwin University’ and ‘Federation University’. I look forward to teaching you this semester and hope you have a wonderful learning experience.
Learning, Teaching and Support Strategies
Class times and location
Please refer to the most updated timetable for the class times and location.
You would have received your timetable by email. You can also obtain a copy from the timetable stand outside the academic office or via the noticeboard. You can also obtain a current copy from the link below: https://csutimetable.au.studygroup.com/Melbourne
Important: It is essential that you keep checking the timetable for the latest class information. The timetable may change until the second week of the teaching session, and it is important to monitor the timetable regularly on the noticeboard.
The weekly instruction in this subject will consist of a combined lecture /tutorial lasting up to 3 hours and will cover the main points from each topic.
Attendance is required at all scheduled lectures and tutorials.
How to contact your lecturer
Any questions concerning the teaching of this subject can be addressed to your subject lecturer.
Harish Rajan
Email:hrajan@studygroup.com
Email is the best option. Please send a brief message regarding the issue and include the subject name and code in your email – it really helps to know which class you belong to, before I respond to your query. If you prefer to phone me that is fine, but please leave a message if I am not there at the time – I will give you a call back as soon as I can.
How you are expected to engage with the subject
To be successful in this subject please follow the suggestions below:
Read the text and other online materials before attending weekly tutorials. Work through the chapter examples. Discuss issues on the subject forum. Read the topic materials in Interact2. Work through the multiple choice, true/false and problem questions.
Download the topic PDF's for viewing on your tablet or PC. Work through the assignment questions week by week. Your conscientious attempt at the assignment questions will be good preparation for the final exam.
You can contact us for any issues you have in understanding the subject and the assignments tasks.
Watch the interactive Podcasts on Job Costing, the four interactive videos on Process costing and the four videos on Panopticism.
The assignments in this subject are designed to assess the subject learning outcomes including your acquired knowledge and skills. Tasks include exercises, problems, discussion questions, questions related to computing skills and business report writing. The assignment tasks are designed, in general, to follow the topics shown on the weekly schedule. Thus they are structured so as to simulate a pattern of weekly learning. Students are strongly encouraged to attempt this subject by studying on a regular ( weekly) basis and, if possible, to get ahead of the schedule. It is essential in accounting that students work continuously throughout the session. It is in your interest to submit assignments by the due date noting timely feedback to all students requires that assignment deadlines are maintained. Academic learning support
The Study Centres also offers a range of workshops specifically targeting the needs of international students. These workshops run multiple times per week and build into the comprehensive Academic Skills Development Program that all students should participate in. Additionally, a number of student volunteers are available to assist you in a program known as Discipline Support Sessions. Please see the timetables for these programs on the noticeboards at the campus and also in the iLearn Interact2 Organisation site.
In this subject there are many opportunities for you to engage with your lecturer, with other students and with the subject. I will be holding weekly face to face classes throughout the session where we can discuss content issues and assessment items.
Make sure you regularly (at least 3 times per week) check the Interact site for discussion board ( forum) postings, announcements, topic information and other resources vital to your success in this subject.
Studying at university does not mean studying alone. Take advantage of collective wisdom and post your questions to the subject Discussion Board.
Information on effective time management is available on the CSU Learning Support website via the following link: http://student.csu.edu.au/
Visit the Learning Support website for advice about assignment preparation, academic reading and note taking, referencing and effective time management at: student.csu.edu.au You can also contact an adviser through Student Central on the following number:
1800 275 278 (or +61 2 6933 7507 from outside Australia).
Queries regarding the content of this subject should be directed to your Subject Coordinator.
Library Services
The CSU Library website provides access to online material and print, using Primo Search to find online journal articles, eBooks, hardcopy books from CSU Library (see Library Manager for Interlibrary Loan Requests), company & government reports, eJournals, dissertations, theses, newspapers including Business & Financial newspapers in Factiva (See Business & IT Journal
Databases), and other reference resources (eg. Australian Bureau of Statistics, Australian standards, online encyclopaedias & dictionaries to be read on the computer). You will also find library guides, Subject Reserve for any readings eg. ITC100, ACC100, etc., and online assistance to help you use the Library's resources such as Ask a Librarian – Live Chat and Ask a Librarian - Web Form.
You can find Library Services on both the SGA library online catalogue: http://primo.unilinc.edu.au/primo_library/libweb/action/search.do?vid=SGA
The SGA library online catalogue allows students to Sign In, My Account shows student’s current library record including all books on loan, Renew your borrowed books online before the due date, also Search and Request all books in the SGA library, even if unavailable due to high demand from students. Students can Request books when all books are on loan to other students. When the requested book is returned to the SGA library, the student who requested the book receives an email immediately to pick up the book from the SGA library. View your library record online 24/7 at the above web link for SGA library.
And also CSU Library online:
http://student.csu.edu.au/library - CSU Library Services including Primo Search & Subject Reserve online with 24/7 access, online and video tutorials in research skills, finding journal articles for assignments, topic analysis, download Endnote referencing program and many other online library services to help you successfully complete your assignments for all CSU courses.
http://trove.nla.gov.au/ - Powerful search engine from National Library of Australia to access many different online resources on any subject from one search.
Contact Details for renewing loans, locating books and other information:
SGA Melbourne Library:
Marian Lees - Director, Library Services
Ph: (03) 9935 7921
Email: MLees@studygroup.com
Library Help
http://student.csu.edu.au/library/help-contacts Friendly and quick assistance is available. Ask for help finding information and navigating the library's extensive eResources.
Online Tutorials http://student.csu.edu.au/library/study-research/training-tutorials-videos
Learn how to:
• use Primo Search to find eReserve material and journal articles
• search journal databases and web resources for information for your assessments
• identify appropriate sources of information and peer reviewed material, and evaluate resources.
Bookmark your Subject Library Resource Guide
Subject Library Guides are a great way to get started with research. Each online guide is tailored to a specific area of study, including Accounting, Business & Information Technology outlining how to research in your area and where to look for information. http://libguides.csu.edu.au/
Academic Learning Support Assistance
Visit the learning support website for advice about assignment preparation, academic reading and note-taking, referencing, and preparing for exams at: http://student.csu.edu.au/study
You may also contact:
Name: Monique Moloney
Email: MMoloney@studygroup.com Phone: (03) 9935 7919
For appointments, please see Reception.
Queries regarding the content of this subject should be directed to your subject lecturer.

Your workload in this subject
CSU Academic Senate policy states that a standard 8 point subject should require students to spend a total of between 140-160 hours engaged in learning and assessment activities. This means an average of 10 to 12 hours every week. This subject complies with this policy. Clearly this is an average expectation. Some will need to spend more time than suggested because of different learning styles.
Each week you should spend 10 - 12 hours studying this subject - obviously some weeks may require more time than others depending on how you work - but the following is a guide for your information.
Studying the text and working through chapter examples - 2 hours
Working actively through the subject resources including Spreadsheet Advice and podcasts
and videos on costing systems and Panopticism videos - 1 hour
Perusing the readings and Internet resources - 1 hour
Participating in the weekly tutorials- 3 hours
Preparation of answers to topic self-study questions - 2 hours
Preparation of assignment solutions - 3 hour
Text and Learning Materials
Prescribed text(s)
Fatseas, V.A., & Williams, J.F. (2013). Cost management. (3rd Ed.). McGraw-Hill. ISBN 978-1-74-307980-5
Students must have their own copy of the text. In the past some students have decided to not purchase the text and have borrowed and shared copies. Given the dollar investment in gaining an education, not having your own copy the text may be an unwise decision and could affect your chances of success in the subject.
The text is abbreviated to FW in the Study Schedule.
Schedule
Each week you should complete all readings, revision questions before attending weekly tutorials.

guide only.
Assessment Information
Introduction to assessment
To protect the academic integrity of the subject, you may be asked to complete an additional test ( which may be verbal) if I or another member of the teaching staff have doubts that the work that you have submitted for an assessment item is your own. This test would be held within 4 weeks of the submission of the assessment.
Detailed information regarding:
Sample exam (for subjects with a formal exam)
Pass requirements
Grades
Presentation
Submissions
Extensions
Penalties for late submission
Assignment return
Resubmission Plagiarism
are included in Appendix 1.

* due date is the last date for assessment items to be received at the University
** applies only to assessment items submitted by the due date
Assessment item 1
Assessment item 1
Value: 20 %
Due date: 05- Apr -2016
Return date: 27- Apr -2016
Submission method options Alternative submission method
Task
The purpose of Assessment item 1 is to establish the skills needed in the workplace for costing products and services using the appropriate processes and tools and apply analytical processes to construct accounting systems and models using workplace tools. Each question uses realistic data and the professional practices similar to that found in workplaces.
QUESTION 1 Purpose of management accounting reports
What is the purpose of management accounting reports? Give three examples.
QUESTION 2 factors that drive management accounting work Describe the three factors that drive management accounting work.

QUESTION 3 Cost concepts
Which of the following is incorrect?
A Direct materials + direct labour = prime cost
B Direct labour + manufacturing overhead = conversion cost
C Prime cost + conversion cost = cost of goods manufactured
D Cost of goods manufactured = direct labour + direct materials + manufacturing overhead E Only one of the above is incorrect Explain your answer.
QUESTION 4 Manufacturing statement and income statement
Spreadsheet. See the Spreadsheet Advice in Interact2 Resources and the examples in your textbook.
See the requirements within the spreadsheet template below.
Check the spreadsheet assignment requirements. Ensure you have separate data and report areas. The report area will show only formulas. Use IF functions to allow for the possibility of either a net income or a net loss.

QUESTION 5 Cost concepts
Should overtime payments be treated as direct labour, or as overhead? Why?
QUESTION 6 Understanding the entries in the Materials Control account.
The Materials Control account balances were $34 000 on 1 June and $28 000 on 30 June. Raw materials purchased during June cost $90 000. Direct materials issued to production during June were $40 000.
Required:
Reconstruct the Materials Control T-account and show the general journal entry to record the cost of raw materials issued as indirect materials during June.
QUESTION 7 Understanding the entries in the Accrued Payroll account
Salaries and wages payable to factory employees were $12,000 on 1 March and $34,000 on 31 March. Gross salaries and wages paid during March totalled $32,000. March's direct labour totalled $19,000.
Required:
T-account for Accrued Payroll and general journal entries for recording salaries and wages earned by, and paid to, factory employees during March.
QUESTION 8 Payroll entries
The Patel Company has a gross payroll of $8 000 per day. Withholdings for PAYG taxes are $2400 per day. There are no other deductions from employees' earnings. The firm works five days per week, Monday to Friday inclusive. The payroll period covers Thursday to Wednesday inclusive and the payroll for the week is paid on the following Friday.
Gross payroll consists of $4800 direct labour, $1600 indirect factory labour, $1120 selling expenses and $480 general and administrative expenses each day. The following calendar should be used to answer the questions:

(a) What is the total amount to be credited to Accrued Payroll in respect of September earnings? ( b) If balance day adjustments are performed at the end of each month, what would be the balance in Accrued Payroll account at the close of business on September 30?
( c) Suppose that a single journal entry is made on the last day of each month to record the distribution of total labour costs for the month, but that entries are made each Friday to record payment of wages and withholdings. Also, PAYG taxes withheld are remitted to the Taxation Department at the end of each month.
(i) Show the weekly journal entry.
(ii) Construct the necessary ledger accounts to show all entries in respect of labour costs during the month of September.
QUESTION 9 Activity Based Costing
Your employer is contemplating changing the existing costing systems used in the business to adopt activity based costing (ABC).
Prepare a business report to critically evaluate arguments for and against ABC. Use the Internet as a resource (about 300 words excluding references). The following resource will help you prepare and format your report: http://bit.ly/FoBAcademic-Writing-Skills
QUESTION 10 Service department cost allocation
Spreadsheet problem. Check the spreadsheet assignment requirements and review the examples in your textbook.

Using template 1 below, re-allocate the service centre costs to the production departments by (a) the direct method
(b) the step method
(c) the reciprocal services method
(d) complete the T accounts shown in the second template for EACH method. Add this template to the first template such that all solutions are created automatically.
(e) Assume you are the manager with the task of choosing one only of these methods to implement. With reference to the outcomes of each method, outline the criteria relevant to your decision. Template 1

Template 2. Create a solution for EACH method. See your text for examples.
Rationale
The learning outcomes assessed in this assignment task include the application of cognitive skills in the design and operation of costing systems; critical evaluation of the design and operation of costing systems; explanation of the role of management accounting in organisational contexts; the application of analytical and synthetical skills in report writing; and the application of quantitative techniques and computer software to management accounting problems.
Topics assessed include cost flows in management accounting, functions, terminology, manufacturing statements, spreadsheet construction, product costing, materials acquisition systems, labour payment systems, accounting for overhead, activity based costing, (ABC) and the allocation of overhead including service department costs.

Marking criteria
Marking Criteria Rubric Assignment 1
A rubric is a form of authentic assessment. A rubric lists a set of criteria, which defines and describes the important components of the work being planned or evaluated. A rubric can be defined as an established rule, tradition, or custom. The accounting system itself can be regarded as a type of rubric.
http://us.iearn.org/professional_development/multimedia/assess/rubric.html. This marking criteria rubric indicates how the assignments will be assessed in this subject
Your assignment consists of different question styles including discussion questions, reports, exercises, problem questions and spreadsheet questions.

Criteria High Distinction Distinction Credit Pass
Criteria for expected learning Be the result of Be the result of Be the result of Be the result outcomes to be achieved include your original work, your original your original of your critical evaluation of costing complete without work, be mostly work, be mostly original systems, demonstrating any omissions and complete complete with work, be understanding and application of correct. without any few omissions, mostly cost flows in management Evaluate all the omissions, and and be partially complete accounting, functions of cost flows issues raised in be mostly correct. with some in manufacturing, terminology, questions. correct Evaluation of omissions, manufacturing statements, computer Provide examples Evaluate most some of the issues and be modelling, product costing, materials where appropriate of the issues raised in partially acquisition systems, labour payment Accurate answers raised in questions. correct. systems, accounting for overhead, complying with all questions Provide examples Evaluate activity based costing, (ABC) and spreadsheet Provide some where some of the
the allocation of overhead including requirements examples where appropriate. issues raised service department costs. relevant to each appropriate Comply with in questions scenario. Comply with some of the Provides 1-2
the majority of spreadsheet examples spreadsheet requirements where
requirements relevant to each appropriate relevant to each scenario. Comply
scenario. with some
spreadsheet requirements
Academic writing skills. The Accurate use of Accurate use of Accurate use of Mostly discussion answers and business syntax, spelling syntax, spelling syntax, accurate reports meet academic standards of and punctuation; and vocabulary, syntax, syntax, vocabulary, spelling and correctly refers to a punctuation; spelling and spelling and punctuation and reflects an variety of sources succinct and punctuation; punctuation; awareness of audience needs. to support effective use of correctly refers to correctly arguments, vocabulary; more than the refers to including the correctly refers minimum minimum prescribed texts to a range of requirement of number of and a range of sources to sources to support sources to additional readings; support arguments, support reference list of the arguments, including arguments, range of resources including the prescribed texts including used, correctly prescribed text and recommended prescribed formatted using and a variety of readings; texts;
APA style. further reference list reference list readings; formatted in APA used,
reference lists a style, with few or formatted in
range of no errors. APA style,
relevant with few resources used, errors. correctly formatted using APA style.
Your assignments will be marked as a whole with recognition being given to application of knowledge, quality thinking and application of skills. For some questions, students have a chance to demonstrate some creativity, or provide their own examples or give evidence of wider reading or structure a computer spreadsheet model in an innovative manner. We also need to avoid the snowballing effects of cumulative errors - that is, an error early in a practical question which carries through. Thus a marking system is used with deductions for errors and omissions. Full marks are possible for well structured, complete, quality answers.
Any assignments with significant evidence of plagiarism may be referred to the university's academic misconduct processes and will receive a grade of zero.
The marking criteria for your assignments will be based on the content of the subject as identified by the learning objectives of the various topics as outlined in the Interact topics. Good spreadsheet answers will comply with the assignment requirements.
An example of marking criteria for an essay/business report follows. Some of the same criteria apply to longer discussion style questions, case studies and business reports.
Example criteria used in marking essays/discussion questions/case studies/business reports While there is no particular format required for these answers, the following criteria are likely to be used. Note that business reports are normally more structured than essays.
Criteria
Relevance of the answer - are the important issues raised in the question identified? Did the student answer the questions?
Critical capacity. Has reference material been carefully analysed or critically accepted?
Structure of the answer. Is the answer well-structured and the argument logically developed? Writing style. Is the style concise and lucid or confused, making it difficult for the reader to get the point?
Scope of reading. Does the answer indicate a satisfactory coverage of literature relevant to the questions?
Answers should:
• be well planned with arguments flowing logically;
• use correct sentence structure, punctuation and spelling;
• present original ideas where appropriate;
• and present a justified conclusion and acknowledge all sources.
Note:
Normal distribution curves for grades are not utilised in this subject. Penalties will apply for late submission at 10% of the total mark available per day; it is important that submitted assignments are complete; omitted answers will result in mark deductions; refer to the University regulations contained in the CSU online handbook for matters pertaining to special consideration, misadventure and extenuating circumstances, academic misconduct, code of conduct for users of electronic facilities, assessment regulation, grading scale, progression and academic performance, grade point average, examination regulations and other matters pertaining to assessment. The regulations can be found at the University's web site: http://www.csu.edu.au
Presentation
Please read this in conjunction with the assignment requirements below.
Single spacing and small margins are welcome to save paper.
For any business report style questions a report structure is expected.
Provide references throughout your assignment including page references to texts, articles and URL’s of websites.
APA is the referencing style used by the Faculty of Business but in this subject I am not too fussy about the style of referencing used, as long as you acknowledge ALL sources used. At the end of your assignment include a complete Bibliography (Reference List) of resources actually used including the Internet, textbook, Study Guide, Software help files and videos supporting this subject.
Requirements
Assignment Requirements (also check the presentation expectations above).
1. The first page of your assignment should consist of the following parts :
subject code and name; your name and student ID number; assignment task number;
list of questions attempted and a list of questions not attempted;
dates and details of any extension granted; include a copy of the approval email; an academic integrity statement that the work submitted is your own; an acknowledgement of all your sources, and a footer with your name, student ID and page number.
2. Your Turnitin submission will consist of two files - a Word file and an Excel file.
3. Paste the spreadsheet solution and a formula view of each spreadsheet in the word file showing row and column headings for both. Paste the normal view first then the formula view. Your word file will provide a complete answer to every question. Use portrait orientation wherever possible. All data will be in the data entry area. The report area will contain no data - just formulas. Check the spreadsheet requirements carefully. You only need to submit a spreadsheet file for those problems specifying such. You can, if you wish submit spreadsheet solutions to other assignment questions but these do not need to comply with the spreadsheet requirements.
4. Name the two files with your family name only as the file name. Record your name, student ID number and page number as a footer on every page of your assignments. Where you are asked to make changes in a spreadsheet, please highlight the changes.
5. Assignment solutions must be presented in the same sequence as set out in the study schedule.
6. Provide references throughout the assignment and a reference list (bibliography) at the end the assignment of all sources used including internet resources. If using internet resources include the URL. The date of date of access is not required in this subject. Post enquiries to the subject discussion forum to clarify any assignment format issues.
7. Your text and Interact2 resources may provide spreadsheet relevant templates.
8. For good spreadsheet design it is very important that you have completely separate data entry and solution/report areas. A good spreadsheet solution format is to key in the question in a structure which allows the solution to be completely formula driven. Thus NO data/numbers are entered into the solution/report area.
9. Create the spreadsheets as separate spreadsheets in one workbook. Name the tags at the bottom of the computer screen with the question number. See the examples provided with the Spreadsheet Advice in theInteract2 Resources.
10. Where appropriate, use the IF function to provide built-in checks etc. Variances? Net income or net loss?
11. How do you display potential negative numbers in brackets? Google the question! Hint. Format / Cells / Number and select Custom. Enter this: #,##0;(#,##0);0
12. Save each spreadsheet in your workbook with the cursor in cell A1 of the first spreadsheet.
13. Examples of spreadsheets are provided in the Spreadsheet Advice document in Interact2. You MUST read and follow these examples. If you choose to create spreadsheet solutions for other assignment problems, these solutions do not need to comply with the spreadsheet requirements.
14. Please check for viruses. Do not use macros in your files.
15. Keep a copy of all your work. Make copies of your work in progress in case your computer has an accident. Backup frequently.
16. It is imperative that you retain a copy of your assignments including your spreadsheets. Complete feedback will be provided to you with your grade and comments by the assessor.
Students can discuss their work with each other prior to submission using the discussion forum. However, please do not post complete versions of answers to the forum. Do not leave assignments until the last minute.
In today’s business environment we need verbal skills, writing skills, numeracy skills AND digital literacy skills. All of these skills are assessed throughout your study. It is suggested that you attempt the assignment questions week by week.
Solutions to questions should vary in length according to the nature of the question. Solutions to exercises and problem questions should be in a similar form to that demonstrated in the text.
Submit your work electronically through Turnitin. The work you submit must be your own. In the recent past a few students have received heavy penalties for submitting assignments which were not entirely their own work.
Students should normally submit the assignment only once.
Assignments must be submitted through turnitin. A hard copy submission is required addition to turnitin submission. Further details about submission are provided in Appendix 1.
Assessment item 2
Assessment item 2
Value: 20 %
Due date: 12- May -2016
Return date: 03- Jun -2016
Submission method options Alternative submission method
Task
The purpose of this assignment is to continue to develop skills in costing systems. The assignment emphasises the role of control in managing the production of goods and services efficiently in the workplace. Each question builds on the knowledge gained through the first assignment to develop the concepts of management accounting control through costing. Each question uses realistic data and the professional practices similar to that found in these workplaces.
QUESTION 1 Job costing
Create a spreadsheet solution to the following problem. Follow the template provided. Play the Job cost podcasts and work through the example problem in those podcasts.

QUESTION 2 Process costing
Prepare a spreadsheet to solve the following process costing problem.
Review the four process costing videos provided in Interact Resources. Note that in the situation below there are two production departments.

QUESTION 3 Joint costing
Create a spreadsheet to solve the following joint cost problem.
Joint cost allocation: additional processing beyond split-off point
ABC Company produces three joint products: A, B and C. The material is added at the beginning of the process. At the end of Process 1, the split-off point, the three intermediate products enter three separate further processes. Product A enters Process 2, Product B enters Process 3 and Product C enters Process 4. None of the products can be sold unless the subsequent processing is carried out.
The following information relates to the month of June:
(i) Direct material issued to Process 1, $26 000. (ii) Conversion costs incurred:
Labour Overhead
Process 1 $10 000 $14 000
Process 2 3 000 2 000
Process 3 1 000 1 000 Process 4 600 400
(iii) There was no work in process at the beginning or end of the month, and no finished goods inventories at the beginning of the month.
(iv) Details of production and sales :

All delivery costs are met by customers.
Required:
(a) A statement showing the allocation of joint costs to products A, B and C using (i) a physical measures method, and (ii) the relative sales value method.
(b) Suppose that C's price falls to $7 per tonne. It costs $5 per tonne to dump material at the tip. Should Product C be dumped at the split-off point or processed further?
Question 4 Variance analysis
A. Solve using a spreadsheet. See the requirements embedded in the spreadsheet. Include the IF function to determine Favourable and Unfavourable variances. B. Prepare a Business Report as if for senior management:
1. Critically evaluate the purpose of variance analysis,
2. Explain why the materials price variance should be calculated on purchase, 3. Identify other areas in an organisation where variance analysis would be useful and
4. Evaluate the practical relevance of detailed overhead variance analysis.
For item 4. see the reading by Murray Wells.
Suggested word limit about 300- 400 words. Ensure that your answer is in business report format.
Read the following online references regarding business report writing. http://bit.ly/FoBAcademic-Writing-Skills and
http://unilearning.uow.edu.au/report/4b.html

QUESTION 5 Cash budget

1. Spreadsheet the cash budget
2. How much is received from March sales?
3. How much was the sales in March? February?
4. What is meant by what if questions in the context of the budgetary process? What is the purpose of asking this type of question? How are financial models used to answer them? For Scarpa, change the spreadsheet forecasts to show a negative cash balance for April. Comment. Paste the original normal view and the changed view together with one formula view
Rationale
The learning outcomes assessed in this assignment include: the application of cognitive skills in the design and operation of costing systems; the critical evaluation of the design and operation of performance management systems; explanation of the role of management accounting in
organisational contexts; the application of analytical and synthetical skills in report writing, utilisation of quantitative techniques and computer software including using the Internet as a professional source; creation and implementation of computerised decision models; and critique of how managers make decisions.
This assignment is designed to assess your application of knowledge, understanding and skills in certain topic areas of the subject, including job costing, process costing, variance analysis, joint costing and budgeting. In order to receive a high mark your assignment will be complete (with no significant omissions), will have answered the questions from your own thinking, and, in the case of practical and spreadsheet questions, will show well-structured and correct solutions.
For spreadsheet problems, good answers will comply with the spreadsheet requirements including the separation of data entry and report/solution areas, pasted normal and formula view with row and column headings and the use of the IF function where appropriate.
Review the examples in the Spreadsheet Advice PDFprovided online in Interact2 Resources.

Marking criteria
Marking Criteria Rubric Assignment 2
Criteria High Distinction

Distinction Credit Pass
Criteria for expected learning Be the result of your Be the result of Be the result of Be the result outcomes to be achieved original work, your original your original of your include critical evaluation of complete without work, be mostly work, be mostly original cost and control systems, any omissions and complete without complete with work, be understanding and applying correct. any omissions, few omissions, mostly cost concepts in management Evaluate all the and be mostly and be partially complete accounting, creating computer issues raised in correct correct. with some models to solve costing and questions. Evaluate most of Evaluation of omissions, decision situations such as job Provide examples the issues raised some of the issues and be costing, process costing, joint where appropriate in questions raised in partially costing variance analysis, Accurate answers Provide some questions. correct. authentic scenarios for cash complying with all examples where Provide examples Discuss
budgeting and business report spreadsheet appropriate where some of the
writing. requirements Comply with the appropriate. issues raised
relevant to each majority of Comply with in questions scenario. spreadsheet some of the Provides requirements spreadsheet some
relevant to each requirements examples scenario. relevant to each where
scenario. appropriate Comply with some spreadsheet requirements
relevant to each scenario.
The discussion answers and Accurate use of Accurate use of Accurate use of Mostly business reports meet syntax, spelling and syntax, spelling syntax, accurate academic standards of syntax, punctuation; and punctuation; vocabulary, syntax, vocabulary, spelling and correctly refers to a succinct and spelling and spelling and punctuation and reflects an variety of sources to effective use of punctuation; punctuation; awareness of audience needs. support arguments, vocabulary; correctly refers to correctly including the correctly refers more than the refers to prescribed texts and to a range of minimum minimum a range of additional sources to requirement of number of readings; reference support sources to support sources to list of the range of arguments, arguments, support resources used, including the including arguments, correctly formatted prescribed text prescribed texts including using APA style. and a variety of and recommended prescribed
further readings; readings; texts; reference lists a reference list reference list range of relevant formatted in APA used, resources used, style, with few or formatted in correctly no errors. APA style, formatted using with few APA style. errors.

Your assignments will be marked as a whole with recognition being given to application of knowledge, quality thinking and application of skills. For some questions, students have a chance to demonstrate some creativity, or provide their own examples or give evidence of wider reading or structure a computer spreadsheet model in an innovative manner. We also need to avoid the snowballing effects of cumulative errors - that is, an error early in a practical question which carries through. Thus a marking system is used with deductions for errors and omissions. Full marks are possible for well structured, complete, quality answers.
Any assignments with significant evidence of plagiarism may be referred to the university's academic misconduct processes and will receive a grade of zero.
The marking criteria for your assignments will be based on the content of the subject as identified by the learning objectives of the various topics. Good spreadsheet answers will comply with the assignment requirements.
An example of marking criteria for an essay/business report follows. Some of the same criteria apply to larger discussion style questions and case studies and business reports.
Example criteria used in marking essays/discussion questions/case studies/business reports While there is no particular format required for these answers, the following criteria are likely to be used. Note that business reports are normally more structured than essays.
Criteria
Relevance of the answer - are the important issues raised in the question identified? Did the student answer the questions?
Critical capacity. Has reference material been carefully analysed or critically accepted?
Structure of the answer. Is the answer well-structured and the argument logically developed? Writing style. Is the style concise and lucid or confused, making it difficult for the reader to get the point?
Scope of reading. Does the answer indicate a satisfactory coverage of literature relevant to the questions?
Answers should:
be well planned with arguments flowing logically; use correct sentence structure, punctuation and spelling; present original ideas where appropriate; and present a justified conclusion and acknowledge all sources.
Note:
Normal distribution curves for grades are not utilised in this subject. Penalties will apply for late submission at 10% of the total mark available per day; it is important that submitted assignments are complete; omitted answers will result in mark deductions; refer to the University regulations contained in the CSU online handbook for matters pertaining to special consideration, misadventure and extenuating circumstances, academic misconduct, code of conduct for users of electronic facilities, assessment regulation, grading scale, progression and academic performance, grade point average, examination regulations and other matters pertaining to assessment. The regulations can be found at the University's web site: http://www.csu.edu.au (http://www.csu.edu.au/)
Students can discuss their work with each other prior to submission using the forum. However, please do not post complete versions of answers to the forum. Do not leave assignments until the last minute.

Presentation
Important! Check the presentation requirements for assignment 1.
Requirements
Important! Please check the requirements for assignment 1
Assessment item 3
Final Exam
Value: 60 %
Date: To be advised
Duration: 2 hours plus 10 minutes
Submission method options
N/A - submission not required/applicable
Rationale
The learning outcomes assessed in the final exam cover the whole subject and include the ability to:
discuss and critique the historical and ethical development of management accounting; apply cognitive skills in the design and operation of costing systems; critically evaluate the design and operation of performance management systems; explain the role of management accounting in organisational contexts and the implications for management accounting of different paradigms;
apply analytical and synthetical skills in report writing, and use quantitative techniques and computer software including using the Internet as a professional source; create and implement computerised decision models; critique how managers make decisions.
The examination will assess application of knowledge, problem solving skills and critical thinking.
To gain a pass in the subject candidates must achieve a satisfactory mark in the final examination. The examination is of two hours duration with 10 minutes reading time. Candidates can write during the reading time. The examination is closed book. A silent, non-programmable calculator may be used. The examination has three parts:
Exam Strategies
You are permitted to take a non-programmable, battery operated calculator into the exam. This can be a financial calculator. You will also need 2B pencils and erasers for the multiple choice section of the exam paper.
The secret to success in this subject? Work throughout the session and participate in class or on the discussion forum. In the exam allocate your time sensibly between the sections. Don't spend too much time on any one question. Students should refer to the sample exam paper as indicative of the structure of the final examination.
Section A has 40 multiple choice questions each with five alternatives and weighted at 1.5 marks each – total 60%. The multiple choice questions may cover all textbook chapters and online study material.
Some questions will assess concepts and some will assess the application of problem solving skills. There may be questions on service department cost allocation, process costing, manufacturing statements, joint costing, job costing, variance analysis for materials and labour, ROI (Return on Investment), RI (Residual Income), Balanced Scorecard, cash budgets, Expectancy theory and Business Process Re-engineering (BPR).There will be no calculation questions on FIFO process costing, overhead variance analysis, operations costing, JIT costing, ABC, EVA, throughput costing or strategic costing although you should have a conceptual understanding of these areas. In the multiple choice section marks will not be deducted for incorrect responses. Answers will be recorded on the multiple choice answer sheet. Ensure you also shade in your name and student ID details.
Section B is a Job costing problem weighted at 10% - to be answered in the template on the examination paper.
Section C is the essay section and candidates will be required to answer two questions from a choice of five questions. Each essay question will be weighted at 15% of the total. This section will focus to some extent on the subject readings. Potential essay areas include:
Relevant costs and decision making,
Economic value added, residual income, return on investment & balanced scorecard,
Performance measurement,
Behavioural experiments,
Panopticism & management accounting.
It is important that students allocate their time proportionately among these sections.
Please balance your time – Yinyang
Allocate your time sensibly. Answer ALL the multiple choice, the problem question and TWO of the essays. For example, 30/60 plus problem 5/10 plus one essay 9/15 = 44 = FL
30 /60 plus 5/10 plus 8/15 plus 7/15 = 50 = Pass
Here is one plan.
If it was me, I would attempt the multiple choice questions first; then the problem question, then the essay questions. But it’s your call.
Why in that order? If rushed for time I could write shorter essay answers and still hope for a pass in each.
And I may gain time in the MC questions and so have more time for the problem section and the two essays.
I can write during the ten minutes reading time but will put that aside in my planning as a buffer. The exam is weighted at 60 marks of the total but is expressed as a percentage.
Therefore 2 hours = 120 minutes = 1.2 minutes per mark.
Part A MCQ’s 40 questions weighted at 1.5 marks each = 60 marks
Part B problem question 10 marks
Part C two essay questions 30 marks 40 MC = 40 X 1.5 marks each = 60. 1.2 X 60 = 72 minutes (1 hour 12 minutes)
After 30 minutes I plan to have 17 MC questions done – hopefully more.
After 1 hour, 34 questions done.
After 1 hour 12 minutes, all 40 MC questions done. 48 minutes left.
MCQ’s – keep moving – if a question looks too tough – guess and move on. But don’t do this with all questions J
Maybe mark answers on the question paper. Use a question mark ? if not sure; Then if time permits come back to those only. Answer ALL questions. There is no negative marking.
Transpose all answers at once to the computer answer sheet. Maybe less chance that way for transposition errors.
Part B Problem question 10 marks 10 X 1.2 = 12 minutes
Essays 2 X 15 marks = 30 marks = 30 X 1.2 minutes = 36 minutes
18 minutes per essay. So short essays. Two essays – not one; not four – just two.
Structure essay answers and focus on the question. Quality, not just quantity.

Then celebrate!!
Requirements
In order to pass the final exam students marks in the exam need to aggregate to 50% or more.
A pass or better in the final exam in necessary to pass the subject.
Marking criteria
Marking criteria rubric final examination
This marking criteria rubric indicates how the various grades will be determined in this subject
Your examination consists of three sections as detailed above. Your grade in the subject is a cumulative aggregate of the assignments and your examination mark. Note that in order to pass the subject you need to pass the final exam and pass overall. A pass is defined as 50%
Learning outcomes High Distinction Distinction Credit Pass
See the learning outcomes To meet this level To meet this level To meet this level you To meet this listed for this subject at the of achievement you will attain an will attain an aggregate level you will beginning of this document. you will attain an aggregate cumulative mark attain an The examination covers all aggregate cumulative mark between 65%-74% for aggregate topics in the subject. cumulative mark between the examination and the cumulative Part A 60% between 75%-84% for the assignments. A mark in mark between
Answer multiple choice 85%-100% for the examination and this range for section A 50 %-64% for questions by selecting the examination and the assignments. indicates that you have the examination correct option from the five the assignments. In Overall, in often selected the and the alternatives to demonstrate meeting this level meeting this level correct answer from the assignments. your knowledge and you will you will available alternatives for Overall, in
understanding of the range of demonstrate an demonstrate a each question. Overall, meeting this topics assessed in this section. exceptional and comprehensive in meeting this level you level you will There may be questions on consistent high and high level of will demonstrate a demonstrate a service department cost level of knowledge knowledge and sound knowledge and basic allocation, process costing, and understanding understanding understanding across the knowledge and manufacturing statements, joint across the across the majority of the topics in understanding costing, job costing, variance complete range of majority of topics this subject. across at least analysis for materials and topics assessed in assessed in this 50 % of the
labour, ROI (Return on this section. section. topics in this
Investment), RI (Residual subject.
Income), Balanced Scorecard, cash budgets, Expectancy theory and Business Process Re-engineering (BPR).
Part B 10% Be correct and Be mostly correct Demonstrate a Score between
Job Costing problem to be complete and score and complete competent attempt at the 50 and 64% for answered on the exam paper in between 8.5 and scoring between problem question this part of the the template provided. 10. 7.5 and 8.4. scoring between 6.5 and examination
7.4.
Part C 30% Be professionally Be professionally Be legible and Be legible and
2 Essays @ 15% each. presented with presented with coherently presented with mostly
The potential areas of the 5 generally correct generally correct with generally correct correct spelling essays are set out in the exam spelling and spelling and spelling and grammar. and grammar advice above. grammar. grammar. Include, where Demonstrates
Answers may require critical Include, where Include, where appropriate analysis. coherent logical evaluation, should be well appropriate appropriate Provide mostly complete thinking. planned with arguments original analysis. original thinking. answers addressing most Provide
flowing logically; use correct Provide a parts of the essay adequate
sentence structure, punctuation Provide complete majority questions. answers and spelling; demonstrate answers addressing complete answers Evaluation of many of addressing original ideas where all parts of the addressing all the issues raised in some parts of appropriate; and present a essay questions. parts of the essay questions. the essay justified conclusion. Evaluates the questions. Provide some examples questions.
issues raised in Evaluate most of where appropriate. Discuss some questions. the issues raised Score 65%-74% of the issues
Provide examples in questions. raised in where appropriate. Provide examples questions
Score 85%-100% where Provide some appropriate. examples
Score 75%-84% where
appropriate. Score
50 %-64%
Note that you do not have to pass each individual section of the exam paper. You do need to pass the final exam in aggregate.
Material provided by the University
Multiple Choice Answer Sheet
Writing Booklet
Material required by the student
Silent, non programmable calculator, black or blue pen and 2B pencil.
Students will answer questions on the multiple choice answer sheet provided using a 2B pencil.
Make sure you include your name etc. on the exam booklet and the multiple choice answer sheet.
Bring an eraser, spare pencil and/or pencil sharpeners.
Answer essay questions using a blue or black pen - not pencil.

Appendix 1 Assessment Information
Sample exam
The sample exam will be provided in Interact Resources Or the sample exam is here.
ACC512 Sample Exam
( https://doms.csu.edu.au/csu/file/46ea21fd-cb20-4bae-94aa-a4cc9f2c9e7e/1/ACC512%20Sample%20E


Pass Requirements
You must obtain at least 50% in both the examination and the total mark in order to pass this subject. You must pass the exam to pass the subject.
To be eligible for the grade AA or AE you must have submitted all assessment items in the subject, including the final exam. If you choose not to complete an assessment item or do not sit the final exam then you will not be granted an AA or an AE grade.
Grades
Final grades for this subject are awarded by the Business Faculty Assessment Committee in accordance with the University's Assessment Regulations. (See current Academic Regulations at https://policy.csu.edu.au/view.currect.php?id-00301#s3
(https://policy.csu.edu.au/view.currect.php?id=00301#s3)). University's Assessment Policy: Coursework Subjects (https://policy.csu.edu.au/view.current.php?id=00301).
Your final grade for the subject as a whole will be based on the grading scale outlined in the CSU Assessment Policy: Coursework Subjects https://policy.csu.edu.au/view.current.php?id=00301 ( https:// policy.csu.edu.au/view.current.php?id =00301).
HD High Distinction 85% - 100%
An outstanding level of achievement in relation to the assessment process.
DI Distinction 75% - 84%
A high level of achievement in relation to the assessment process.
CR Credit 65% - 74%
A better than satisfactory level of achievement in relation to the assessment process.
PS Pass 50% - 64%
A satisfactory level of achievement in relation to the assessment process.
FL Fail 0 - 49%
An unsatisfactory level of achievement.
The percentages specified above should be viewed only as guidelines for the award of final grades.
The Faculty has an obligation to ensure that grades are equitable across different cohorts of the same subject offering and will undertake appropriate moderation processes to ensure that grades are awarded consistently in accordance with the University’s Moderation Policy.
For further information please consult the CSU Assessment Policy: Coursework Subjects http://policy.csu.edu.au/view.current.php?id=00301
Presentation
Please read this in conjunction with the assignment requirements.
Single spacing and small margins are welcome to save paper.
For any business report style questions a report structure is expected.
Provide references throughout your assignment including page references to texts, articles and URL’s of websites.
APA is the referencing style used by the Faculty of Business but in this subject I am not too fussy about the style of referencing used, as long as you acknowledge ALL sources used. At the end of your assignment include a complete Bibliography (Reference List) of resources actually used including the Internet, textbook, Study Guide, Software help files and videos supporting this subject.
Submission
Online Submission
Assignment 1 and 2 must be submitted through Turnitin. A hard copy submission is required in addition to Turnitin submission. You must mention your lecturer name in the cover sheet of the assignment.
Unless advised otherwise, all Turnitin submissions are due by midnight (AEST) of the date specified. Please note that the time and the date of your Turnitin submission will be used to determine your official submission time.
You will be added to Turnitin once the class is set up. If you need assistance on Turnitin, there is an instruction sheet available at Reception.
Additional Submission Information:
It is recommended that your name, student ID and page number be included in the header or footer of every page of any assignment. You are also required to rename your assignment file before you submit via Turnitin as per below protocol:
SUBJECT CODE, SI, SURNAME, STUDENT ID, ASSESSMENT NUMBER, SESSION. Example – ACC512 SI PATEL 11554466 A3 201560.doc
Other methods
Hardcopy Submission:
A hard copy submission is required for assignment 1 and 2. It must be submitted by the due date in the Assignment Submission Box located near reception.
Hardcopy Cover Sheet requirements
You must use an approved Assignment Cover Sheet for the hardcopy submission. Lecturers use this cover sheet to provide you important Assessment Feedback. The electronic copy of the cover sheet is available via the CSU computers’ desktop under Study Centre Forms saved as ‘ASSIGNMENT COVER SHEET’.
Assignments without the needed identifying information such as Subject Code, Assessment number, Lecturer’s name and CSU ID, will not be marked or will face major delay in marking.
Extensions
In order to ensure that other students who hand their assignments in on time are not disadvantaged, and to enable me to comply with the requirement to return assignments to the class within 15 working days, the following rules about extensions will be strictly enforced:
1. Extensions cannot be granted for on-line tests, as these have to be done within a specific time frame, after which the answers are released to the class automatically.
2. Computer problems (such as the speed of your computer and the time Turnitin issues) and normal work-related pressures and family commitments do not constitute sufficient reasons for the granting of extensions.
3. If it becomes obvious that you are not going to be able to submit an assignment on time because of an unavoidable problem, you must submit your request for an extension to the Subject Coordinator in writing (email is acceptable) prior to the due date.
Requests for extensions will not be granted on or after the due date so you must make sure that any extension is requested prior to the day on which the assignment is due.
You are expected to do all you can to meet assignment deadlines. Work and family- related pressures do not normally constitute sufficient reasons for the granting of extensions or incomplete grades.
4. If you apply for an extension, you may be asked to email your lecturer on what you have done so far on the assignment.
5. You must be able to provide documentary evidence (such as a certificate from a doctor or counsellor) justifying the need for an extension as soon as practicable - but please note that if the circumstances giving rise to the request for an extension arise on a day when you cannot get documentary evidence, you must still apply for the extension before the due date and submit the documentary evidence afterwards.
6. Given the tight deadlines involved in returning assignments to students and putting feedback on Interact, the maximum extension granted generally will be seven (7) days from the due date.
7. Assignments received more than 10 days after the due date or extension date will not be marked unless the staff member decides otherwise. Items received late will be penalised at 10% of the mark available for the assessment item per day it is late (see below).
8. Note that for purposes of measuring lateness, the 'day' begins just after 00.00 hrs AEST - so an assignment received after midnight of the due date will be penalised 10% for lateness. This rule will be applied to all students uniformly.

Penalties for Late Submission
The Faculty of Business has determined that the penalty for the late submission of an assessment task ( without obtaining the Subject Coordinator's approval for an extension) will be :
10% deduction per day, including weekends, of the maximum marks allocated for the assessment task, i.e. 1 day late 10% deduction, or 2 days late 20% deduction.
An example of the calculation would be:
Maximum marks allocated = 20
Penalty for one day late = 2 marks (so, a score of 18/20 becomes 16/20 and a score of 12/20 becomes 10/20).
If an assignment is due on a Friday but is not submitted until the following Tuesday, then the penalty will be four days (40% deduction or 8 marks in the example above).
Submissions more than 10 days late will be acknowledged as received but will not be marked.
Assignment Return
You should normally expect your marked assignment to be returned to you within 15 working days of the due date, if your assignment was submitted on time. If you submitted your assignment on time but not received it back by the return date, you should make enquiries in the first instance to the subject lecturer. If the subject lecturer is not available, contact Level 1, Reception.
Turnitin Feedback: Check assignment feedback via Turnitin on the assignment return date.
Resubmission
Under normal circumstances resubmission of assessment items will not be accepted for any of the assessments required in this subject.
Assessment Requirements
Assessment at CSU is criterion-referenced and standards-based where students' work is assessed against stated criteria that reflect the expected learning outcomes of the course and subject. Subjects that use a satisfactory/unsatisfactory grading scale will have this clearly identified within the Subject Outline.
For further information please consult the University's Assessment Policy: Coursework Subjects ( https://policy.csu.edu.au/view.current.php?id =00301).
Referencing
Referencing is an important component of academic writing. All CSU assessment tasks should be appropriately referenced. The specific details of the referencing requirements are included in each assessment task description.
For further information and assistance with referencing refer to http://student.csu.edu.au/library/integrity/referencing-at-csu
Plagiarism
Charles Sturt University expects that the work of its students and staff will uphold the values of academic honesty and integrity. The Guide to Avoiding Plagiarism is located at:
http://student.csu.edu.au/study/plagiarism. This is an important resource that will help you understand these values and apply them in practice. You should familiarise yourself with these requirements and ensure that all assessments submitted by you are your own work, have not been submitted elsewhere and comply with the University's requirements for academic integrity.
The University has purchased Turnitin software. This software has two functions, a pre-emptive education function which students may use to check their own work prior to submission, and a plagiarism detection function which academics may use to check the student’s work for improper citation or pote