ACCT604 - Managerial Accounting

Year

Credit points

Campus offering

Prerequisites

ACCT600 Accounting for Decision Making

Teaching organisation

150 hours over a twelve-week semester or equivalent study period

Unit rationale, description and aim

Managerial accounting systems are a primary source of financial and accounting information for managers. Heightened competition has amplified the nature of management accounting information which now encompass both quantitative and qualitative non-financial information to help not just managers but also other members of organisations to support planning, control, decision-making and sustainability strategies of organisations. This unit examines the role of management accounting information to manage an organisation efficiently and effectively to create value, ensure corporate social responsibility and ethical behaviour. The aim of this unit is to develop knowledge and skills in the application of managerial accounting techniques for strategic planning, decision-making, costing and budgetary control and performance management in organisations.

Learning outcomes

To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.

Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.

Explore the graduate capabilities.

On successful completion of this unit, students should be able to:

LO1 - Demonstrate knowledge of communication theory and information literacies by applying relevant knowledge and skills to various communications that provide business insights, analysis, recommendations and rationale to accounting phenomena (GA5, GA9)

LO2 - Articulate the importance of ethical professional values of managerial accountants and appraise how they can impact organisational corporate social responsibility (GA2, GA5)

LO3 - Categorise and evaluate various types of organisational costs, budgets, cash flows, working capital requirements and prices using a range of established methods to cost specific organisational operating decisions (GA5)

LO4 - Appraise organisational performance, its products and business segments through key performance indicators that capture financial and non-financial information to measure business performance and their potential behavioural impact on organisational effectiveness and efficiency (GA5, GA8)

LO5 - Ascertain the strategic direction of business and evaluate data and information that evaluate management decision making on quality control, performance measurement, and comparative analysis (GA4, GA5)

Graduate attributes

GA2 - recognise their responsibility to the common good, the environment and society 

GA4 - think critically and reflectively 

GA5 - demonstrate values, knowledge, skills and attitudes appropriate to the discipline and/or profession 

GA8 - locate, organise, analyse, synthesise and evaluate information 

GA9 - demonstrate effective communication in oral and written English language and visual media

Content

Topics will include:

• Contemporary managerial accounting in a global competitive environment
• Cost concepts, cost behaviour and cost estimation
• Activity-Based Costing
• Performance evaluation and behavioural impact
• Organisational strategies and decision Making
• Corporate social responsibility
• Measure and reporting sustainability

Learning and teaching strategy and rationale

Practice and applied practical activities are essential for learning accounting. Therefore, students are expected to adopt an ‘active’ learning strategy and learn by doing. ACU’s teaching policy focuses on learning outcomes for students in the form of knowledge, capabilities and background. Our teaching aims to engage students as active participants in the learning process while acknowledging that all learning must involve a complex interplay of active and receptive processes, the constructing of meaning for oneself, and learning form others. ACU promotes and facilitates learning that is autonomous and self-motivated, is characterised by the individual taking satisfaction in the mastering of content and skills and is critical, looking beneath the surface level of information for the meaning and significance of what is being studied. The workshops provide an interactive environment for involving in class discussions and exchange ideas. Learning materials used in the unit encompass readings, lecture slides, lecture recordings, audio and video materials, self-tests, case studies, solutions to selected problems and other online relevant tools.

Mode of delivery: This unit is offered in different modes. These are: “Attendance” mode, “Blended” mode and “Online” mode. This unit is offered in three modes to cater to the learning needs and preferences of a range of participants and maximise effective participation for isolated and/or marginalised groups.

Attendance Mode

In a weekly attendance mode, students will require face-to-face attendance in specific physical location/s. Students will have face-to-face interactions with lecturer(s) to further their achievement of the learning outcomes. This unit is structured with required upfront preparation before workshops, most students report that they spend an average of one hour preparing before the workshop and one or more hours after the workshop practicing and revising what was covered. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for students to prepare and revise.

Blended Mode

In a blended mode, students will require intermittent face-to-face attendance determined by the School. Students will have face-to-face interactions with lecturer(s) to further their achievement of the learning outcomes. This unit is structured with required upfront preparation before workshops. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for students to prepare and revise.

Online Mode

In an Online mode, students are given the opportunity to attend facilitated synchronous online seminar classes with other students and participate in the construction and synthesis of knowledge, while developing their knowledge. Students are required to participate in a series of online interactive workshops which include activities, knowledge checks, discussion and interactive sessions. This approach allows flexibility for students and facilitates learning and participation for students with a preference for virtual learning.

Assessment strategy and rationale

Assessments are used primarily to foster learning. ACU adopts a constructivist approach to learning which seeks alignment between the fundamental purpose of each unit, the learning outcomes, teaching and learning strategy, assessment and the learning environment. Assessment is an integral part of the learning process. Assessment tasks in this unit are aimed at measuring and developing student’s achievement of both the learning outcomes and graduate attributes noted above. In this unit, there are multiple forms of formative assessment for a student to assess their progress against the learning objectives as well as three (3) main pieces of graded summative assessment.

For assessment, students will be required to evaluate data and information from a variety of sources and perspectives through research, integration, and analysis. Students will also need to apply critical thinking skills to identify and solve problems, inform judgments, make decisions, reach well-reasoned conclusions and make recommendations where applicable. Students are expected to communicate clearly and concisely when presenting, discussing, and reporting knowledge and ideas in formal and informal situations.

To pass this unit, students must demonstrate competence in all learning outcomes and achieve an overall score of at least 50%. Using constructive alignment, the assessment tasks are designed for students to demonstrate their achievement of each learning outcome. Marking will be in accordance with a rubric specifically developed to measure students’ level of achievement of the learning outcomes for each item of assessment. Students will also be awarded a final grade which signifies their overall achievement in the unit. The same assessment strategy applies to all modes of delivery

Overview of assessments

Representative texts and references

Eldenburg, LG, Brooks, A, Oliver,J, Vesty, G, Dormer,R., Murthy, V, Pawsey, N 2020, Management Accounting, 4th ed., John Wiley & Sons.

Bhimani, A, Horngren, CT, Datar, SM,& Rajan, MV 2019, Management and Cost Accounting, 7th ed., Pearson.

Hilton, RW, Platt, DE 2020, Managerial Accounting: Creating Value in a Dynamic Business Environment, 12th ed., McGraw-Hill.

Winston, W 2019, Microsoft Excel 2019 Data Analysis and Business Modeling, 6th ed., Pearson Education.

Balstad, MT, Berg, T 2020, ‘A long-term bibliometric analysis of journals influencing management accounting and control research’, Journal of Management Control, vol 30, pp. 357–80, <https://doi.org/10.1007/s00187-019-00287-8>.

Gunarathne ADN, Lee, K-H, Hitigala Kaluarachchilage PK 2021, ‘Institutional pressures, environmental management strategy, and organizational performance: The role of environmental management accounting’, Business Strategy and the Environment, <https://doi.org/10.1002/bse.2656>

Hadid, W & Al-Sayed 2021, ‘Management accountants and strategic management accounting: The role of organizational culture and information systems’, Management Accounting Research, vol 50, March, < https://doi.org/10.1016/j.mar.2020.100725>

Otley, D 2016, ‘The contingency theory of management accounting and control: 1980–2014’, Management Accounting Research, vol 31, June, < https://doi.org/10.1016/j.mar.2016.02.001>

Rikhardsson, P, Yigitbasioglu, O 2018, ‘Business intelligence & analytics in management accounting research: Status and future focus’, International Journal of Accounting Information Systems,vol 29, pp. 37-58, < https://doi.org/10.1016/j.accinf.2018.03.001.>.

United Nations 2020, Transforming our world the 2030 Agenda for Sustainable Development, < https://sdgs.un.org/publications/transforming-our-world-2030-agenda-sustainable-development-17981>