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Semester 1 - Online
Semester 2 - Online
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Strategic Cost Management examines the interface of cost accounting and managerial decision making. Students are introduced to the concepts and processes that underpin the development of cost accounting systems and are taught a range of techniques to analyse and evaluate the cost information captured by these systems. Students investigate the role of cost accounting information in managerial decisions that relate to the efficient and effective management of organisational resources and the creation of customer and shareholder value.
Intended learning outcomes
On successful completion of this subject students should be able to:
- Define costs according to different classification schemes, describe a range of cost behaviour patterns, and calculate and interpret cost estimates derived using a range of techniques
- Design cost allocation systems to meet internal accountability requirements, and interpret the impact of cost allocations on internal performance reports
- Analyse resource flows in different organisation settings and design costing systems to capture critical resource flows
- Calculate product and service costs using a variety of costing systems and cost allocation techniques
- Analyse the impact of costing system choices and cost allocations on pricing, competition, and management decision making
- Explain techniques for the management of costs, time, and quality, to facilitate the effective use of organisational resources
- Analyse and evaluate cost information for the purposes of making a variety of value-based decisions.
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.
Last updated: 4 September 2021