Exam: BUACC2613 Management AccountingDate: Friday 09 Jun 2023
Start Time: 9:30am-Melbourne Time- must be commenced at this time.
Duration: 180 minutes
Plagiarism is strictly treated. Your answers will be checked for similarity.
Topic include:
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What is process costing?
Who uses process costing?
How do we account for process costs?
In this context, why is Equivalent Units (EUs) such an important concept?
How do we make a Production Report under the *2-physical flow assumptions?
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What is Service costing?
Who uses Service costing?
How do we account for Services?
Why has service sector become such an important area?[WTO/GATS, Globalisation and the
“Digital Economy”.]
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What are overhead costs?
Allocating indirect costs
Allocating overhead costs to products
Evaluating the allocation alternatives
Issues in estimating overhead rates
Responsibility centre allocations
Allocating support department costs
Other issues in allocating support department costs
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What is Activity-Based Costing (ABC)?
What are the different approaches to ABC?
How is it used?
Who uses it?
What are its limitations?
What are the impediments to introducing ABC?
Which is better? Activity-based versus traditional costing.
We will be looking at ABC application in both manufacturing and service organisation.
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What is budgeting?
Who uses it?
Why is it important?
What are the human aspects/behavioural consequences of budgeting?
What are the master budget interrelationships?
How are budgets used in not-for-profit organisations and government agencies?
What is Zero-base budgeting and program budgeting?
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What is Standard Costing (SC)?
Who uses it?
Is it important in the contemporary business environment?
What are the human aspects/behavioural consequences of standard costing?
What are the 4-types of direct material (DM) and direct labour (DL) variances?
What are the relevant journal entries?
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Continue with Standard Costing.
Continue our discussion on Standard Costing.
Discuss Flexible budgets.
Calculate and interpret the overhead cost variances.
Examine the relevance, pros and cons of standard costing.
Is it important in the global business/ manufacturing environment?
What is Activity-based Budgeting? (ABB)
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