Flinders University - BUSN2035: Cost and Management Accounting

This topic distinguishes between financial accounting and management accounting systems. Management accounting is concerned with supplying organisational management with relevant, timely and accurate information to promote the efficient and effective use of resources, thereby enhancing customer and shareholder value. A variety of costing systems, techniques and models relevant to the service, merchandising and manufacturing sectors are examined, with an emphasis on the need for management accounting systems to adapt to a constantly changing business environment. As such, contemporary developments in areas such as cost, quality, customer and social and environmental management are considered.

On completion of this topic, you should be able to:

• discuss the nature and importance of management accounting, and the current roles and responsibilities of management accountants;
• categorise and identify the nature of the various types of costs, cost objects and cost behaviours;
• apply various costing systems and techniques to calculate and report the costs of various cost objects, including products, services and departments, in various organisational settings;
• apply various techniques to analyse cost and other management-related information for effective planning, control and decision-making.