1 Introduction to management accounting - The role of management accounting
- Product and service costing
- Cost classifications
- Cost versus expense
- Inventories
- Cost, selling price, margins and pricing policy
2 Manufacturing statements - Structure of the manufacturing statement
- Factory and non-factory expenses
- Preparation of the manufacturing statement
- Analysis of manufacturing statements
- Transfer of cost of production
- Accounting entries
3 Cost flows - The manufacturing process
- Flow of materials and costs
- Perpetual inventory system
- The effect of the GST
- Separate cost ledger
- Alternative factory overhead recording
- Cost flows in non-manufacturing firms
4 Materials—control and accounting - Purchasing and storage procedures
- Issuing procedures
- Costing materials into store
- Costing materials out to production
- Physical stocktake
- Periodic stock valuation
- Accounting standards
5 Labour—control and accounting - Definition of some payroll terms
- Payroll
- Direct and indirect labour analysis
- Labour-related costs
6 Factory overhead—control and accounting - Factory overhead accounting
- Cost drivers
- Fixed and variable costs
- Factory overhead recovery rates
- Flexible budgeting
- Budgeting semi-variable costs
- Departmental factory overhead
- Reciprocal services
- Improved product costing
- Activity-based costing
7 Job costing - Job cost system
- Job cost records
- Job cost accounting records—manufacturers
- Job costing with a separate cost ledger
- Under-applied or over-applied factory overhead
- Job costing in service industries
8 Responsibility accounting - Organisation structure
- Responsibility accounting
- Responsibility centres
- Budget preparation
- Performance reports
- Cost allocation
- Overhead analysis
- Responsibility accounting and blame
- Controllability
9 Cost–volume–profit analysis - Presentation of statement of comprehensive income for CVP analysis
- The break-even equation
- Contribution margin method
- Contribution margin ratio method
- Target net profit
- Effects of income tax
- Margin of safety
- Analysis using graphs
- Evaluating changes
- Sales mix and CVP analysis
- CVP analysis for different industries
- Assumptions and limitations of CVP analysis
10 Direct costing - Inventory valuation
- Statements of comprehensive income with actual factory overhead
- Reconciliation of reported profits—absorption and direct costing
- Reporting variable marketing and administrative expense—direct costing
- Statements of comprehensive income with applied factory overhead
- Australian Accounting Standard AASB 102 Inventories
- Australian Taxation Office requirements
- Advantages and disadvantages of direct costing
11 Activity-based costing - Activity-based costing
- Activity levels
- Three approaches to ABC Cost drivers
- Designing an ABC system
- ABC application rates
- Total manufacturing costs
- Accounting entries
- Full product costs
- ABC and job costing
12 Process costing fundamentals - Cost flows
- Comparison with job costing
- Flow of units through a process
- Process costing concepts
- Cost of production report
- Accounting entries
- Beginning work in process
- Weighted average method
- First-in-first-out (FIFO) method
13 Advanced process costing - Cost flows—more than one department
- Cost of production reports—more than one process
- Accounting entries
- Process costing and lost or spoiled units
- Process costing—more than one department and spoilage
14 Operation costing 15 Joint and by-product costing - Why allocate joint costs?
- Allocating joint costs
- Accounting for joint costs
- Decision: sell at split-off or process further
- By-products
16 Standard costing - Setting a standard manufacturing cost
- Different types of standards
- Flexible budgeting
- Variance analysis
- Causes of and responsibilities for variances
- Journal entries for a standard cost system
- Effect of work in process
- Disposition of variances
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