Learning Guide 2013 Lbc202

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Higher Education, Lilydale
Learning Guide
LBC202 Management
Accounting

Semester 1, 2013

Unit Convenor : Associate Professor Jean Raar

Page 2 of 86

© Swinburne University of Technology, 2006, 2007, 2008, 2009, 2010 , 2011, 2012, 2013. Published by: Learning and Teaching Services, Swinburne University of Technology Melba Avenue, Lilydale, 3140

Subject Code and Subject Title
LBC202 Management Accounting I
The Subject team responsible for planning and production of this Subject is:

Associate Professor Jean Raar
Acknowledgements as required
This Learning Guide follows the approach taken in the recommended text: Horngren, C. T., Datar, S. M., Foster, G., Rajan, M. V., Ittner, C., Wynder, M., Macquire, W. and Tan, R. (2011).
Cost Accounting: a managerial emphasis. 1st Australian Edition, Pearson, Frenchs Forest, NSW. There is a Student Guide to accompany “Cost Accounting: a managerial emphasis” –( the above prescribed test) prepared by Jenny Waters. The publisher has shrink-wrapped the relevant chapters from this Student Guide - to assist students.

(Note this is also the prescribed text for LBC 207).

Page 2 of 86

Swinburne at Lilydale

LBC 202 Management Accounting 1

Table of Contents
MODULE 1: Costing for Products/ Services
Module Introduction
Module Objectives
TOPICS
TOPIC 1.1: Introduction to Management Accounting

4
5
8

TOPIC 1.2: Product/Inventory Costing

12

TOPIC 1.3: Cost-Volume- Profit analysis and decision

18

MODULE 2: Cost estimation & allocation
Module Introduction
Module Objectives
TOPICS

25
25

TOPIC 2.1: Cost Behaviour and Estimation

28

TOPIC 2.2: Relevant costing and Decision-making
TOPIC 2.3: Overhead Costs and Allocation for support department costs

31
38

MODULE 3:
Activity-Based Costing & Customer Profitability
Module Introduction
Module Objectives
TOPICS

45
45

TOPIC 3.1: Activity Based Costing and Management

57

TOPIC 3.2: Pricing and Customer Profitability

53

MODULE 4: Budgeting for Planning & Control
Module Introduction
Module Objectives
TOPICS

62
62

TOPIC 4.1: Comprehensive Budgeting (1.5 weeks)

64

MODULE 5: Sustainability
TOPIC 5.1: Introduction to sustainability and EMA

(Environmental Management Accounting)
PAST EXAMINATION: EXAMPLE

79
81

Page 1-3 of 86

Swinburne at Lilydale

LBC 202 Management Accounting 1

1.Module 1: Costing for Products/Services
Module Introduction
Costing of products and services is an important function in business management. It is one of the major themes of management accounting. The costs of products and services are an essential element in strategic and operational planning, in controlling and improving the quality of operating systems and in making business decisions.

Costs are relevant today, as managers face the challenges generated by increased global competition, deregulation, privatisation, growth in the service sector and the emergence of regional markets. Ways of doing business have changed and are continuing to change under the influence of flatter structures, team-based approaches, downsizing, total quality management, just-in-time systems, focus on customer service, electronic communications, climate change and the Information Age. There is an increasing emphasis on cost management. The design of management accounting systems has changed in response to these influences. Conventional systems are being replaced or upgraded using real-time reporting systems, activity-based costing, new focuses for cost analysis, strategic performance measurement and benchmarking. The process of change is ongoing. One of the skills you will develop as you learn the tools of analysis in providing i nformation for decision-makers is to understand and elaborate upon the initial decision situation that is presented. This is very important and helps ensure that vital information is not omitted. In this module you will be introduced to the concepts,...
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