Course Description
Uses case studies to analyze approaches to managerial accounting. Covers the application of decision and control models, planning and control under conditions of uncertainty, ethics, and current issues in the development and practice of managerial accounting.
Week 1
Lecture: Cost Management Information
Outcomes
- Explain how cost information is used in different types of organizations
- Identify the four functions of management
- Understand the use of cost information in support of different strategies
- Describe the influence of modern management techniques on cost management
- Allocate shared support costs to production departments
- Allocate shared cost to products that result from a single process
Week 2
Lecture: The Flexible Budget and Standard Costing
Lecture: Static and Flexible Budget Variances
Outcomes
- Identify and explain control systems and uses of standard costing
- Distinguish between effectiveness and efficiency
- Construct a master budget
- Develop a flexible budget
- Calculate direct input variances
Week 3
Lecture: Flexible Budget: Analyzing Factory Overhead
Outcomes
- Distinguish between the control purposes and the costing purposes of standard costing for overhead
- Calculate, explain and record the overhead variances
Week 4
Lecture: Operational Productivity
Outcomes
- Explain, calculate and use sales and productivity variances
Week 5
Lecture: Quality and Profitability
Outcomes
- Discuss the role of quality in profitability
- Describe the elements of quality
- Compare and contrast the major quality initiatives
- Understand how accounting supports the financial and non-financial measures used to assess quality
Week 6
Lecture: Performance Evaluation
Outcomes
- Understand the relationship between management control and performance evaluation
- Identify the objectives of management control
- Identify the types of control systems
- Explain the application of control to cost centers, revenue centers and profit centers
- Understand how the balanced scorecard supports strategic cost management
Week 7
Lecture: Strategic Investment Units and Transfer Pricing
Outcomes
- Describe the function of a strategic investment unit
- Discuss implementation of appropriate transfer prices
- Calculate return on investment, residual income and economic value added, and use them to evaluate the performance of a business unit
Week 8
Lecture: Management Compensation, Business Analysis and Business Valuation
Outcomes
- Describe the common types of management compensation
- Appreciate the role of tax planning and financial reporting in management compensation
- Understand and describe the use of balanced scorecard, financial ratio analysis economic value added, discounted cash flow and multiples-based valuation in establishing the value of the enterprise as a whole
The course description, objectives and learning outcomes are subject to change without notice based on enhancements made to the course. November 2011
