May 2021. Zoom sessions on the 4th, 7th, 14th and 21st May.
Cost: £195 + VAT per delegate
OUTLINE
This virtual course provides an introduction to the Transparent Approach to Costing (TRAC). It looks at the TRAC requirements, what universities need to do to comply with them and how they can go about doing it.
The course is aimed at members of finance staff involved in the implementation of TRAC within their institutions. It will also be of interest to more senior members of the finance team responsible for overseeing the TRAC process as well as to people from other teams.
Topics that the course will cover include:
No previous experience of TRAC is required. If you have BUFDG Pro, you may wish to complete the Introduction to TRAC e-learning to understand some of the terminology ahead.
The course is delivered online over a period of 2-3 weeks, allowing you to structure your learning around your work and other commitments.
The course will include:
You will need to commit to attend the 3-4 zoom sessions before signing up for the course. These will take place in May 2021:
To participate in the course and to access the course materials, you will need a computer/tablet with a reliable internet connection, a microphone and audio capability. You will also need the free Zoom app, a video player app and a web browser.
Your course tutor will be Simon Perks, who has considerable experience of advising higher education institutions on the TRAC methodology and of developing TRAC costing models. He is the founder and director of Sockmonkey Consulting and lives in Somerset with his wife, Natalie, and Molly and Ozzy, his Labrador dogs.
Introduction to TRAC Course (Virtual) Programme
WEEK ONE
1 | Welcome |
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1.1 | Initial hello | ||
1.2 | Course information | ||
1.3 | Welcome, introductions and overview | Zoom (1 hour) | LIVE |
2 | What TRAC is and how it works |
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2.1 | Introduction to the section | ||
2.2 | The aims, principles, operation and benefits of TRAC | ||
2.3 | Looking at the TRAC guidance | ||
2.4 | Learning quiz: The TRAC guidance | SurveyMonkey Quiz (10 mins) | |
3 | Governance of the TRAC processes |
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3.1 | Introduction to the section | ||
3.2 | The TRAC Oversight Group | ||
3.3 | Materiality in TRAC | ||
3.4 | The impact of COVID-19 | ||
3.5 | Learning quiz: Governance in TRAC | SurveyMonkey quiz (10 mins) | |
4 | Annual TRAC |
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4.1 | Introduction to the section | ||
4.2 | The TRAC activities and costing process | ||
4.3 | The MSI adjustment | ||
4.4 | Learning quiz: TRAC activities and adjustments | SurveyMonkey Quiz (10 mins) | |
4.5 | Quality assurance and sign-off | ||
4.6 | Completing the annual TRAC return | ||
| LIVE WORKSHOP / Q&A | Zoom (1 hour) | LIVE |
Learning quizzes:
2.4 | The TRAC guidance | |
3.5 | Governance in TRAC | |
4.4 | TRAC activities and adjustments |
Slides:
WEEK TWO
5 | TRAC for teaching |
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5.1 | Introduction to the section | ||
5.2 | Calculating the cost of teaching | ||
5.3 | Allocating costs to academic cost centres | ||
5.4 | Learning quiz: TRAC for teaching | SurveyMonkey Quiz (10 mins) | |
5.5 | Completing the TRAC for teaching return | ||
6 | Full economic costing |
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6.1 | Introduction to the section | ||
6.2 | The aims of full economic costing | ||
6.3 | The different types of costs | ||
6.4 | Costing a research project | ||
6.5 | Learning quiz: Full economic costing | SurveyMonkey Quiz (10 mins) | |
6.6 | A worked example of full economic costing | ||
7 | TRAC cost rates | ||
7.1 | Introduction to the section | ||
7.2 | The TRAC cost rates | ||
7.3 | The indirect cost rate | ||
7.4 | The estates cost rate(s) | ||
7.5 | Learning quiz: Cost rates | SurveyMonkey Quiz (10 mins) | |
7.6 | Cost rates in the annual TRAC return | ||
| LIVE WORKSHOP / Q&A | Zoom (1 hour) | LIVE |
Learning quizzes:
5.4 | TRAC for teaching | |
6.5 | Full economic costing | |
7.5 | Cost rates |
Slides:
WEEK THREE
8 | A TRAC worked example |
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8.1 | Introduction to the worked example | ||
8.2 | Attributing estates costs to departments | ||
8.3 | Attributing costs to academic departments | ||
8.4 | Attributing costs to activities | ||
8.5 | Applying this to your own institution | ||
9 | Academic staff time allocation |
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9.1 | Introduction to the section | ||
9.2 | Approaches to staff time allocation (Part 1) | ||
9.3 | Approaches to staff time allocation (Part 2) | ||
9.4 | Staff time allocation in the TRAC return | ||
9.5 | Staff time allocation | ||
10 | Other key TRAC issues |
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10.1 | Introduction to the session | ||
10.2 | Laboratory technicians | ||
10.3 | Research facilities | ||
10.4 | Learning quiz: Academic staff time allocation / Other TRAC issues | SurveyMonkey Quiz (10 mins) | |
10.5 | Where these go in the TRAC return | ||
| LIVE WORKSHOP / Q&A | Zoom (1 hour) | LIVE |
11 | Summary and close |
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11.1 | Summary of the course | ||
11.2 | Thank you email with links to key info |
Learning quizzes:
10.4 | Academic staff time allocation / Other TRAC issues |
Slides:
Tagged : Management Accounting, TRAC
Type : Training
Please contact info@bufdg.ac.uk for more information
