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Level 3 Foundation Diploma in Accountancy

Accounting for labour costs

AB302 · Management Information — Week 5 of 16

CourseAB302
Week5 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Accounting for labour costs

  1. Timesheets and job cards
  2. Direct versus indirect labour classification
  3. Payroll accounting and general ledger postings
  4. Accounting for Labour - ACCA Management Accounting (MA)
  5. Cost classification part a - ACCA Management Accounting (MA)

What you will be able to do

  • 2.2 Describe the processes for accounting for labour costs.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: describe the processes for accounting for labour costs.

Study materials

Videos

  • Accounting for Labour - ACCA Management Accounting (MA) · YouTube · OpenTuition · 24 min · for registered students
  • Cost classification part a - ACCA Management Accounting (MA) · YouTube · OpenTuition · 14 min · for registered students

Further resources

  • Managerial Accounting, ch. 2: How Is Job Costing Used to Track Production Costs? · PDF · Saylor Academy, textbook chapter; pp. 75–127 · for registered students
  • Principles of Accounting, Volume 2: Managerial Accounting, ch. 4: Job Order Costing · PDF · OpenStax, textbook chapter; pp. 181–240 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: Accounting systems in business organisations
  • Week 2: Purpose of management information
  • Week 3: Management accounting versus financial reporting
  • Week 4: Labour remuneration systems
  • Week 5: Accounting for labour costs
  • Week 6: Analysing gross and net earnings
  • Week 7: ICT applications in management information
  • Midterm: Midterm evaluation
  • Week 9: Factors influencing ICT adoption
  • Week 10: Evaluating ICT in management information
  • Week 11: Integrated management information review
  • Week 12: Applying Management Information in practice: case studies
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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