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Course Description:
Become an indispensable advisor to contemporary organisations and create value for both customers and shareholders. This course will equip you with the knowledge and analytical skills to become a trusted business partner and effective decision maker. You will learn to improve business processes, enhance managerial decision making and develop critical thinking and communication skills. You will be introduced to a range of management accounting tools and techniques and learn to apply them critically and creatively in a variety of business contexts.
Course Aims:
This course aims to equip students with the knowledge and analytical skills to become a trusted business partner and an effective business decision-maker. Students will be introduced to a range of management accounting tools and techniques and learn to apply them critically and creatively in both professional and work contexts.
Whilst primarily designed for students who are interested in management accounting, this course is also valuable to students who aspire to be business professionals with knowledge of how to analyse and evaluate financial and non-financial information, in order to make informed business decisions and improve organisational operations. It introduces students to management accounting practices that can create value through process improvement.
This course is part of the core curriculum of studies required by CPA Australia and the Institute of Chartered Accountants in Australia and New Zealand (CAANZ). It is offered by the School of Accounting, Auditing and Taxation as part of an accounting major, double major or disciplinary minor in the Bachelor of Commerce or Bachelor of Economics degrees.
Relationship to Other Courses:
This course integrates and builds on basic organisational resource and cost concepts introduced in COMM1170 Organisational Resources and COMM1180 Value Creation. A range of management accounting practices that organisations may use to create value for their customers and shareholders are examined. Key to all of these is a focus on organisational processes and their resource needs, and an understanding of whether these resources are being used efficiently and effectively. Three main interrelated themes are examined.
The analysis of management accounting information for planning and resource allocation decisions; the application of management accounting tools and practices to facilitate process improvement that reduces cost, as well as improves time and quality aspects of performance; and the design and use of management accounting systems such that employees' goals are consistent with organisational goals, which may positively impact behaviour.
In sum, this course aims to equip students with a range of management accounting tools and techniques, as well as the competency to apply them critically and creatively in a professional work setting. This course also prepares students for the advanced management accounting and final year synthesis course, ACCT3583 Strategic Value Management. ACCT3583 goes beyond a firm's internal operations to discuss how management accounting facilitates strategy development and implementation, and the management of a wide network of internal and external stakeholders.
This course is offered by the School of Accounting, Auditing and Taxation as part of an accounting major, double major, or disciplinary minor in the Bachelor of Commerce or Bachelor of Economics degrees. COMM1170 (or ACCT1511) is a prerequisite for this course. This course also constitutes part of the core curriculum of studies required by CPA Australia and the Institute of Chartered Accountants in Australia and New Zealand (CAANZ).
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