Strategic Cost Management

This subject has the following teaching availabilities in 2016:

Estimated total time commitment of 120 hours per semester

ACCT90004 Accounting for Decision Making or equivalent.

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For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

Strategic Cost Management introduces students to the techniques and processes available to assist managers in planning and controlling organisational activities. It deals in depth with the process of identifying, measuring, analysing, interpreting and communicating information to managers in pursuit of the organisations goals. Costs are a primary building block, which students were introduced to in Accounting for Decision Making. This subject takes students beyond the simple context to a far more complex level and provides the technical competence necessary for students to understand the role of cost information in organisations. This course will specifically cover the linkage between cost data and systems and the organisation of activities in a range of manufacturing and service industries; how to match cost systems with activities and resource flows in a range of manufacturing and service activities; how to apply appropriate cost allocation techniques to a variety of costing problems; the development of strategies for managing costs as well as an explanation of the role of cost data in pricing decisions.

On successful completion of this subject, students should be able to:

• Describe some of the techniques and process which are available to assist managers in planning and controlling organisational activities;
• Analyse the processes involved in identifying, measuring, analysing, interpreting and communicating information to managers in pursuit of the organisation's goals;
• Explain the role of cost information in organisations;
• Analyse the linkage between cost data and systems and the organisation of activities and resource flows in a range of manufacturing and service activities;
• Apply appropriate cost allocation techniques to a variety of costing problems;
• Develop strategies for managing costs;
• Explain the role of cost data in pricing decisions.

• One 3-hour end-of-semester examination (75%)
• 2000 word assignment due late in semester (20%)
• Class participation (5%)

Note: Successful completion of this subject requires a pass (50%) on the end of semester exam.

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Evaluation of data;
• Synthesis of data and theory;
• Using computer programs, including web-based software;
• Problem solving;
• Oral and written communication;
• Listening to other students with tolerance and engaging in discussion when appropriate.