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ACFI2003: Management Accounting
OVERVIEW
Course Description
This course aims to introduce students to the role of management accounting information in managing and measuring business performance. At the conclusion of the course, students will be able to design, implement and monitor business level strategy using management accounting controls. The first part of the course introduces students to strategic planning processes, including an analysis of an organisation’s external, competitive and internal environments required to design business strategy. Concepts include PESTEL and SWOT analyses, Porter’s 5 Forces, Value Chain analysis and the Risk Calculator. The second part of the course equips students with practical skills and tools for the implementation and monitoring of business strategy with a focus on cost management and profit. Concepts include the Balanced Scorecard, Customer Profitability Analysis,Standard versus Flexible Budgets, Variance Analysis, and Managing Working Capital. At the conclusion of the course, students will have developed practical skills to manage and control business performance in a strategic context.
Contact Hours
Workshop Face to Face on Campus Two (2) hour(s) per week for Full Term Students are expected to complete 4 hours of guided learning via online preparation, lectures, interactive workshops, tutorials, discussion groups or self-directed learning and an additional 6 hours of independent study per week.
Unit Weighting
10
Pre-requisites
Students must have successfully completed ACFI1002 to enrol in this course.
Workload
Students are required to spend on average 120-140 hours of effort (contact and non-contact) including assessments per 10 unit course.
Please refer to the course CANVAS site for details of teaching staff for ALL course offerings. The primary contact for courses is the Course Coordinator, whose details are listed on the course CANVAS site.
Student Consultation A minimum of one (1) hour consultation per week. Please see course CANVAS site for details of time and location.
Course Learning Outcomes
On successful completion of this course, students will be able to:
1. Demonstrate an understanding of the role and use of management accounting information in an organisational context and for businessdecision making;
2. Demonstrate an understanding of the strategic planning process from the perspective of the CFO and formulate business strategy based on an analysis of an organisation’s external, competitive and internal environments;
3. Apply key management accounting techniques to implement Business performance, costs and profitability;
4. Solve business problems ethically using management accounting concepts and techniques.
ASSESSMENT DETAILS
This course has 2 assessments. Each assessment is described in more detail in the sections below:
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|
Assessment Name |
Due Date |
Involvement |
Weighting |
Learning Outcomes |
| 1 |
Report |
Friday, Week 7 by 9:00 am |
Group |
50% |
1, 2, 4 |
| 2 |
Final Examination |
Formal Examination Period |
Individual |
50% |
1, 2, 3, 4 |
|
Please note: students are advised that all assessments must be submitted in English. Assessment items not submitted in English will receive a mark of zero. |
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Results of individual assessment items and final results, including those provided via the Learning Management System (LMS) are ‘unofficial results’ until they are confirmed as finalised by the School Assessment Body and the Head of School or delegate. Finalised results are released directly to students on the Fully Graded Date of the relevant Semester/Trimester. |
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Time referenced is time in Newcastle NSW
Late Submissions
The mark for an assessment item submitted after the designated time on the due date, without an approved extension of time, will be reduced by 10% of the possible maximum mark for that assessment item for each day or part day that the assessment item is late. Note: this applies equally to week and weekend days.
Assessment 1 - Report
Assessment Type
Written Assignment
Purpose
The purpose of this assignment is to assess student’s capacity to provide an informed analysis of an organisation’s strategic context to guide the formulation and implementation of business level strategy using management accounting control systems.
Description
Students demonstrate critical thinking and problem-solving capability in applying accounting theory and techniques to managerial decision making. They effectively apply and communicate theoretical concepts in writing.
Weighting
50%
Length
Details provided via course CANVAS site
Due Date
Friday, Week 4 and week 7 by 9:00 am
Submission Method
Online. Further instructions are available on the course CANVAS site.
Assessment Criteria
1. Demonstrated understanding of theory and concepts
2. Relevance of answer to the question
3. Accuracy of information/argument
4. Quality of analysis
5. Clarity of expression
Return Method
Online
Feedback Provided
Online
Assessment 2 - Final Examination
Assessment Type
Formal Examination
Purpose
The purpose of this assignment is to assess students' capacity to provide an informed analysis and application of management accounting techniques.
Description
Students apply critical thinking and problem solving in assessing theory in the field of managerial decision making. They effectively communicate management accounting principles in writing.
This course has a RESTRICTED OPEN BOOK examination. A memory aid is permitted. The memory aid is a single double sided A4 sheet of handwritten or typed notes for use during the examination. Note: memory aids must be left on the examination table and cannot be removed from the examination venue.
Weighting
50%
Length
120 minutes
Due Date
Formal Exam Period
Submission Method
Formal Examination
Assessment Criteria
1. Demonstrated understanding of management accounting theory and concepts
2. Relevance and accuracy of answer to the question
3. Quality of information/calculation/analysis.
Return Method
Not Returned
Feedback Provided
No Feedback. Examination scripts will not be returned to students. Final examination scripts will be made available for review by students, upon request, in a controlled and monitored setting. Students are required to make requests, directly to the relevant course coordinator. Completed examination scripts are kept by the Newcastle Business School for a period of six (6) months only, from the relevant fully graded date. Requests made after the six (6) month period cannot be
considered.
SYLLABUS
Course Content
Topics in the course include but are not limited to the following:
1. PESTEL
2. Porters 5 Forces
3. SWOT
4. Value Chain Analysis
5. Core Competency
6. Benchmarking
7. The Risk Calculator
8. The Balanced Scorecard
9. Overhead Allocation – Traditional Job Costing
10. Activity Based Costing and Customer Profitability Analysis
11. Target Costing
12. Standard versus Flexible Budgets
13. Variance Analysis
14. Managing Working Capital
Course Materials
Required Text:
“Strategic Management Accounting”, Wiley Custom Publication.
ISBN: 9781119890102
To purchase this text please visit: www.wileydirect.com.au/buy/acfi2003/
Please refer to the course CANVAS site for details of how to purchase this textbook.
An additional Readings list will be provided on the course CANVAS site.
SCHEDULE
|
Week |
Topic |
Class Preparation |
Activities |
| 1 |
Introduction to the Role of Management Accounting in Strategic Planning |
Read Week 1 Chapters in “Strategic Management Accounting” (Wiley Custom Publication).
Complete weekly exercises and tasks listed on CANVAS.
|
Lecture 1
In class exercises
|
| 2 |
Analysing an Organisation’s External and Competitive Environments – the role of the CFO
|
Read Week 2 Chapters in “Strategic
Management Accounting” (Wiley Custom Publication).
Complete weekly exercises and tasks listed on CANVAS.
|
Lecture 2
In class exercises
|
| 3 |
Analysing an Organisation’s Internal Environment – the role of the CFO |
Read Week 3 Chapters in “Strategic
Management Accounting” (Wiley Custom Publication).
Complete weekly exercises and tasks listed on CANVAS.
|
Lecture 3
In class exercises
|
| 4 |
Identifying Strategic Risks – The Risk Calculator |
Read Simons, R. 1999. “How Risky isYour Company?” Harvard Business Review, May-June 1999.
Carew E. (1997), “Westpac: The Bank that Broke the Bank“, Sydney Publications.
Complete weekly exercises and tasks listed on CANVAS.
|
Lecture 4
In class exercises
Assessment 1 part 1 due:
Friday of Week 4 by 9:00 am
|
| 5 |
Developing Business Strategy – the role of the CFO |
Read Week 5 Chapters in “Strategic Management Accounting” (Wiley Custom Publication).
Complete weekly exercises and tasks listed on CANVAS.
|
Lecture 5
In class exercises
|
| 6 |
Implementing Business Strategy using the Balance Scorecard - Developing KPIs for Performance Evaluation |
Read Week 6 Chapters in “Strategic Management Accounting” (Wiley Custom Publication).
Atkinson AA, Kaplan RS, Matsumura EM and Young SM (2012) “The Balanced Scorecard and Strategy Map” in Management Accounting: Information for decision-making and strategy execution,
5 th Ed, Pearson Education, pp. 15-61.
Complete weekly exercises and tasks listed on CANVAS.
|
Lecture 6
In class exercises
|
| 7 |
Implementing Business Strategy using the Balance Scorecard - Developing KPIs for Performance Evaluation |
Complete weekly readings, exercises and tasks listed on CANVAS. |
Lecture 7
In class exercises
Assessment 1 part 2 due: Friday of Week 7 by 9:00 am
|
| 8 |
Linking the Customer Perspective - Overhead Allocation, Activity Based Costingand Customer Profitability Analysis |
Complete weekly readings, exercises and tasks listed on CANVAS. |
Lecture 8
In class exercises
|
| 9 |
Linking the Customer Perspective - Overhead Allocation, Activity Based Costing and Customer Profitability Analysis |
Complete weekly readings, exercises and tasks listed on CANVAS.
Read Mittal V., Sarkees M. and Murshed F. 2008. “The right way to manage unprofitable customers”. Harvard Business Review, April, pp. 95 -102.
|
Lecture 9
In class exercises
|
| 10 |
The Financial Perspective - Cost Control: Flexible versus Static Budgets |
Complete weekly readings, exercises and tasks listed on CANVAS. |
Lecture 10
In class exercises
|
| 11 |
The Financial Perspective - Cost Control: Variance Analysis |
Complete weekly readings, exercises and tasks listed on CANVAS. |
Lecture 11
In class exercises
|
| 12 |
Linking the Internal Process Perspective: Managing Working Capital |
Complete weekly readings, exercises and tasks listed on CANVAS. |
Lecture 12
In class exercises
|
| 13 |
Revision |
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