Unit of competency Outline
Date retreived
23/07/2026 1:10 AM AWST
23/07/2026 1:10 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Prepare and analyse management accounting information
Prepare and analyse management accounting information
Unit of competency
National Code
FNSACC613A
FNSACC613A
State Code
D4058
D4058
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
07/07/2014
Field of Education
080101 - Accounting
Original Release Date
07/07/2014
Nominal Hours
60
Description
This unit describes the performance outcomes, skills and knowledge required to gather, record and analyse operating costs and data, prepare cost reports and budgets, and calculate the costs of products, services and other organisational activities.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Gather and record operating and cost data
- 1.1. Systems to generate cost and operating data and determine cost and operating standards are established
- 1.2. Data are systematically coded, classified and checked for accuracy and reliability in accordance with organisational policies and procedures
2. Analyse data
- 2.1. Costs are assigned to specified cost objects
- 2.2. Data are reconciled to ensure calculations are accurate and comply with organisational procedures
- 2.3. Variance analysis is used to review the effectiveness of the cost assignment process
- 2.4. Interpretation of revenues and costs is supported by valid analysis and is consistent with the organisation's objectives
3. Prepare cost reports and budgets
- 3.1. Cost information and organisational activities advice is sought from all sections of the organisation when formulating reports and budgets
- 3.2. Structure and format of reports and budgets are error free, comprehensive, clear and comply and conform to routine and ad hoc management information requirements
- 3.3. Comprehensive variances against budget and standards are identified, and prioritised for review and decision making
4. Analyse cost reports and budgets
- 4.1. Variances against budget are interpreted and discussed in consultation with relevant personnel in the organisation
- 4.2. Outcomes from variance reviews are assessed and recommendations made for further actions where required, including revisions to cost and activity standards
- 4.3. Cost and process information is reviewed for value adding and non-value adding activities, and recommendations made for further actions
- 4.4. Reports and budgets on specified products, services, projects, organisational units, customers, market segments and other cost objects are assessed against the organisation's objectives, and recommendations made for further actions
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Systems may include:
activity based costing
direct and absorption costing
joint and by-products costing
operations costing
process costing
standard costing.
Data may include:
consumables records
inventory, materials and finished product records
labour utilisation records
manufacturing and general overhead costs
marketing, distribution and customer records
marketing, distribution, logistics and other support area activity records
materials used
payroll records
records of purchases and associated costs
sales information
service charge-out rates
standards for:
labour
materials
overheads usage and costs.
Cost assignments may include:
absorption costs
activity-based costs
direct and indirect costs
fixed and variable costs
labour, materials and overheads
manufacturing costs
product, service, market segment, distribution channel and customer costs
project costs
service costs.
Cost objects may include:
products
services
projects
organisational units
customers
distribution channels
market segments.
Reports and budgets may include:
activity-based reports and budgets
cost volume profit report
costing budgets
job cost records
job, process and service profitability reports
labour usage
manufacturing overhead
manufacturing statements
market segment, distribution channel and customer cost analysis
materials purchases
materials usage
performance reports
production reports and budgets
project cost analysis
project reports and budgets
relationship with master budgets
service cost analysis
variance analysis reports.
Management information requirements may include:
causes of and reasons for variances
costs and profitability of:
market segments
distribution channels
customers
costs and profitability of:
products and services
business units
identification of value adding and non-value adding activities
improvement of cost and resource management.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Systems may include:
activity based costing
direct and absorption costing
joint and by-products costing
operations costing
process costing
standard costing.
Data may include:
consumables records
inventory, materials and finished product records
labour utilisation records
manufacturing and general overhead costs
marketing, distribution and customer records
marketing, distribution, logistics and other support area activity records
materials used
payroll records
records of purchases and associated costs
sales information
service charge-out rates
standards for:
labour
materials
overheads usage and costs.
Cost assignments may include:
absorption costs
activity-based costs
direct and indirect costs
fixed and variable costs
labour, materials and overheads
manufacturing costs
product, service, market segment, distribution channel and customer costs
project costs
service costs.
Cost objects may include:
products
services
projects
organisational units
customers
distribution channels
market segments.
Reports and budgets may include:
activity-based reports and budgets
cost volume profit report
costing budgets
job cost records
job, process and service profitability reports
labour usage
manufacturing overhead
manufacturing statements
market segment, distribution channel and customer cost analysis
materials purchases
materials usage
performance reports
production reports and budgets
project cost analysis
project reports and budgets
relationship with master budgets
service cost analysis
variance analysis reports.
Management information requirements may include:
causes of and reasons for variances
costs and profitability of:
market segments
distribution channels
customers
costs and profitability of:
products and services
business units
identification of value adding and non-value adding activities
improvement of cost and resource management.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
apply standards, accounting techniques and principles to gather and record operating and cost data
analyse data and prepare cost reports and budgets.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment
access to an integrated financial software system and data
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
apply standards, accounting techniques and principles to gather and record operating and cost data
analyse data and prepare cost reports and budgets.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment
access to an integrated financial software system and data
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9620 | FNSACCT613B | Prepare and analyse management accounting information | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUX13 | FNSACC613 | Prepare and analyse management accounting information | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S735 | FNS60210 | Advanced Diploma of Accounting | Qualification |
| J324 | PSP60312 | Advanced Diploma of Government (Financial Management) | Qualification |