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    602 Management Accounting v2

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    Vandoir Goncalves
    This document outlines the requirements for the 602 Management Accounting elective prescription within the New Zealand Diploma in Business. It includes 3 learning outcomes that assess students' ability to evaluate and apply cost systems, use management accounting tools to plan and control operations, and use information for decision making. The prescription provides key elements for each learning outcome, such as applying different costing systems like standard costing and activity-based costing, using budgets and performance measures, and making product, pricing and other business decisions based on relevant costs.

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    602 Management Accounting v2

    Uploaded by

    Vandoir Goncalves
    80 views4 pages
    This document outlines the requirements for the 602 Management Accounting elective prescription within the New Zealand Diploma in Business. It includes 3 learning outcomes that assess students' ability to evaluate and apply cost systems, use management accounting tools to plan and control operations, and use information for decision making. The prescription provides key elements for each learning outcome, such as applying different costing systems like standard costing and activity-based costing, using budgets and performance measures, and making product, pricing and other business decisions based on relevant costs.

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    This document outlines the requirements for the 602 Management Accounting elective prescription within the New Zealand Diploma in Business. It includes 3 learning outcomes that assess students' ability to evaluate and apply cost systems, use management accounting tools to plan and control operations, and use information for decision making. The prescription provides key elements for each learning outcome, such as applying different costing systems like standard costing and activity-based costing, using budgets and performance measures, and making product, pricing and other business decisions based on relevant costs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    80 views4 pages

    602 Management Accounting v2

    Uploaded by

    Vandoir Goncalves
    This document outlines the requirements for the 602 Management Accounting elective prescription within the New Zealand Diploma in Business. It includes 3 learning outcomes that assess students' ability to evaluate and apply cost systems, use management accounting tools to plan and control operations, and use information for decision making. The prescription provides key elements for each learning outcome, such as applying different costing systems like standard costing and activity-based costing, using budgets and performance measures, and making product, pricing and other business decisions based on relevant costs.

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    The document outlines the prescription, learning outcomes, and assessment notes for the New Zealand Diploma in Business 602 Management Accounting elective module. The three learning outcomes cover cost accounting systems, planning and control tools, and using information for decision making.

    The three learning outcomes covered are: 1) Evaluating and applying cost systems, 2) Using management accounting tools for planning, measuring and controlling operations, and 3) Using management accounting information for decision making.

    Learning outcome one discusses direct and indirect costs, variable and fixed costs, absorption and variable costing, and different costing systems like standard costing, activity-based costing, job order costing, and process costing.

    New Zealand Diploma in Business

    Prescription:

    602 version 2

    602 Management Accounting

    Elective prescription
    Level

    Credit

    20

    Version

    Aim

    Students will collect, interpret, present and use relevant


    management accounting information for an organisation to
    effectively plan, control and make appropriate decisions
    regarding business operations.

    Prerequisites

    500 Accounting Principles or equivalent knowledge and skills.

    Recommended prior
    knowledge

    501 Accounting Practices or equivalent knowledge and skills.

    Assessment weightings
    Learning outcomes

    Assessment weighting
    %

    1. Students will evaluate and apply cost systems for


    manufacturing and service entities.

    45

    2. Students will use management accounting tools to plan,


    measure and control business operations.

    35

    3. Students will use management accounting information for


    decision-making.

    20

    Total

    100

    All learning outcomes must be evidenced; a 10% aggregate variance is allowed.

    New Zealand Qualifications Authority 2012

    Page 1 of 4

    New Zealand Diploma in Business

    602 version 2

    Assessment notes
    1. Assessment materials should reflect relevant and current legislation, standards,
    regulations and acknowledged good industry/business practices.
    Learning outcome one
    Students will evaluate and apply cost systems for manufacturing and service entities.
    Key elements:
    a)

    Types of costs:
    direct and indirect
    variable, fixed and a combination of both
    period and product.

    b)

    Compare and contrast absorption and variable costing.

    c)

    Evaluate the nature and purpose of costing systems:


    standard costing
    activity-based costing
    job order costing
    process costing.

    d)

    Apply costing systems for manufacturing entities and analyse results:


    standard costing
    activity-based costing
    job order costing
    process costing.

    e)

    Apply a costing system for a service entity and analyse results.

    New Zealand Qualifications Authority 2012

    Page 2 of 4

    New Zealand Diploma in Business

    602 version 2

    Learning outcome two


    Students will use management accounting tools to plan, measure and control business
    operations.
    Key elements:
    a)

    The role of management accounting in strategic planning.

    b)

    Budgets using spread sheet software:


    sales budget
    production budget
    income statement
    balance sheet
    cash budget.

    c)

    Budgets for control:


    evaluate variance analysis and report to management
    re-forecast budgets using a what if scenario
    price and quantity variances for production budgets
    flexible budget.

    d)

    Performance measures:
    non-financial indicators
    benchmarking
    balanced scorecard.

    e)

    Inventory management and planning:


    Just In Time (JIT)
    Economic Order Quantity (EOQ).

    New Zealand Qualifications Authority 2012

    Page 3 of 4

    New Zealand Diploma in Business

    602 version 2

    Learning outcome three


    Students will use management accounting information for decision-making.
    Key elements:
    a)

    Relevant costs (including opportunity and sunk costs) for at least two of the following
    decisions:
    adding or discontinuing a product line or segment
    joint costs and by-products
    special orders
    make or buy.

    b)

    Cost Volume Profit (CVP)


    multiple products
    limitations.

    c)

    Pricing decisions:
    quantitative factors
    qualitative factors including two of:
    o inherent uncertainties
    o environmental
    o state of the economy
    o human element.

    Status information and last date for assessment for superseded versions
    Process
    Introduced
    Review

    Version
    1
    2

    Date
    2006
    October 2012

    New Zealand Qualifications Authority 2012

    Last Date for Assessment


    31 October 2014
    N/A

    Page 4 of 4

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