University of Technology Sydney

22321 Cost Management Systems

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2020 is available in the Archives.

UTS: Business: Accounting
Credit points: 6 cp

Subject level:


Result type: Grade and marks

Requisite(s): 22207 Accounting for Business Decisions B AND Completionof subject 26100 Integrating Business Perspectivesc Completion of subject 26100 Integrating Business Perspectives
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.


This subject introduces students to the basic concepts underlying management accounting, which is one of the core streams in the study of accounting. It provides an in-depth understanding of appropriate cost management concepts with an emphasis on the use of accounting information to understand and make decisions about the management of the cost structure of organisations. Students acquire a set of concepts, skills and techniques that are necessary for potential managers, with particular appreciation of the various issues and challenges faced by managers within organisations.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. Discuss the role of management accounting in contemporary organisations
2. Apply technical methods to forecast and evaluate cost incurrence in a range of business contexts
3. Analyse business operations using management accounting information
4. Explain how management accounting systems incorporate multiple stakeholder perspectives

Course intended learning outcomes (CILOs)

This subject also contributes specifically to the following program learning objectives:

  • Critically analyse sustainability principles for various stakeholders in relation to business contexts (4.2)

Contribution to the development of graduate attributes

This subject contributes to the Accounting Major by introducing fundamental management accounting concepts and techniques necessary to produce and apply accounting information in contemporary organisations. The subject relates more broadly to the Bachelor of Business through an appreciation of how accounting information is implicated in wider organisational decision-making processes. Specifically, this subject contributes to the development of the Graduate Attribute “business knowledge and concepts” by introducing students to the cost accounting principles and technical skills necessary for a professional accountant, and demonstrating how these concepts can be used to help solve practical business problems. The subject also contributes to the Graduate Attribute of “business practice oriented skills” through an appreciation of conventional and contemporary methods of cost accounting, which are necessary for preparing accounting reports such as budgets. The subject also exposes students to how cost information is being used to manage multiple stakeholder concerns through internal and external reporting.

This subject contributes to the development of the following graduate attributes:

  • Business knowledge and concepts
  • Attitudes and values
  • Business practice oriented skills

This subject also contributes specifically to develop the following Program Learning Objectives:

  • 1.1: Critically analyse relevant concepts to understand practice in business and related professions in a global workplace
  • 5.1: Apply technical and professional skills necessary to operate effectively in business and related professions

Teaching and learning strategies

Cost Management Systems is taught using a mix of face-to-face teaching, online resources and self-directed study.

Lectures: Lectures provide the structure of a topic area, discussion of theory and practical examples. Lecture recordings are available through UTSOnline.

Tutorials: Students are expected to attend the lecture and review notes, undertake relevant readings and attempt all homework tasks before attending the tutorial. Tutorials provide an opportunity to discuss concepts and ideas, receive feedback on attempted homework tasks, and be involved in group-based problem solving exercises and case studies. Selected tutorials are conducted in computer labs to provide students exposure to computer software used by accountants in practice. Online quizzes will be conducted periodically throughout the semester prior to tutorials. These quizzes form part of the students’ overall assessment mark. Quizzes are designed to test the fundamental concepts of a topic that are required for students to actively participate in tutorial activities.

Discussion Board: Extensive use is made of the UTSOnline Discussion Board to answer student enquiries.

Self-directed study: Students will be required to undertake self-directed study in order to successfully engage in seminar discussions, in-class exercises and computer-based tasks. Animated videos and textbook resources are made available online to help students with their study. Formative preparation guides are also provided for selected topics.

Content (topics)

  • Product costing systems
  • Approaches to allocating overheads
  • Cost behaviour and cost estimation
  • Budgeting and performance evaluation
  • Environmental and social management accounting
  • Decision modelling


Assessment task 1: Multiple Choice Quizzes (Individual)


This addresses subject learning objective(s):

1 and 2

Weight: 15%

Students will have 40 minutes from the time of starting the quiz to answer 10 questions. At the end of 40 minutes the answers will be automatically submitted.

Assessment task 2: Assignment (Group)


This addresses subject learning objective(s):

1 and 3

Weight: 25%

Assessment task 3: Final Exam (Individual)


This addresses subject learning objective(s):

1, 2, 3 and 4

This addresses program learning objectives(s):


Weight: 60%

Duration: 2 hours (plus 10 minutes reading time).

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Required texts

Langfield-Smith, K., Smith, D., Andon, P., Hilton, R. W., and Thorne, H., 2018, Management Accounting: Information for Managing and Creating Value, 8th edn, Sydney: McGraw-Hill Australia.

It is recommended that students purchase the 8th edition in a bundle that includes access to the online resource Connect.

Other resources

  • Eldenburg, L. G., Brooks, A., Oliver, J., Vesty, G., and Wolcott, S. K. (2010). Management Accounting, 2nd Edition. Hoboken, NJ, John Wiley & Sons.
  • Bhimani, A., Horngren, C. T., Datar, S. M., and Rajan, M. V. (2012). Management and Cost Accounting, 5th Edition. Upper Saddle River, NJ: Pearson.