Cost Management Systems
Gold Coast, Australia
Area of Study
Taught In English
Students must have successfully completed ACCT11-100 Introduction to Accounting or equivalent prior to undertaking ACCT12-200.
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4.5 - 6
Hours & Credits
IntroductionProfound changes have occurred in the business environment over the past two decades. Some of the changes include an increased emphasis on providing value to customers, major advances in information and manufacturing technology, the rapid globalisation of markets, service industry growth, increased instability in financial markets, and an increasing desire to create knowledge-based organizations. With these changes has come the need to ensure that management accounting information adds value to organizational decision-making. This subject introduces the managerial aspects of accounting and the use of information for internal decision-making. The goal of this subject is to provide students with a framework for analysing and understanding the unique cost and revenue structures of each business. This understanding facilitates organisational planning and control, and decision-making about short-term (operational) and long-term (strategic) directions of the business.Learning Objectives1. Graduates are able to demonstrate knowledge of the basic generic and cognitive skills in management accounting, including an understanding of the role, importance and ethical requirements of management accountants, and their contribution to the success of the business. Graduates have knowledge of how accounting systems are key inputs to decision-making, and can discuss contemporary developments in management accounting.2. Graduates can identify the behaviour of revenues, costs, and profits, different cost structures, are able to separate fixed from variable components of cost, and apply this knowledge to the analysis and prediction of business outcomes. Graduates can distinguish between traditional and activity-based cost accounting systems, and can apply appropriate methods of cost allocation under each system.3. Graduates are able to apply relevant numeric and analytical skills, and demonstrate current theoretical knowledge, in different decision-making situations.4. Graduates can identify and communicate the importance of planning, control, and feedback in evaluating and improving business performance, and have the ability to develop appropriate budgets, and calculate, understand and communicate the likely causes of variances.5. Graduates are able to work cooperatively and contribute to action learning opportunities.
Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.