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602 Management Accounting v2

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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Vandoir Goncalves
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115 views

602 Management Accounting v2

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.

Uploaded by

Vandoir Goncalves
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

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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