Strategic Management Accounting

Online Class

  • 4 Weeks of live tuition via webinar
  • 2 classes/week of 2 hours each (total 4 h/w)
  • Access to recorded webinars throughout the semester
  • 30 min Q&A time after every session
  • Exam critical areas
  • Summary notes guidance
  • Customised diagrams and flowcharts
  • Exam tips and techniques
  • ClickMeeting webinar

Timetable

 

Class duration: 2 hours + 30 min discussion

Commencement: 08-Jan-20

Finish: 01-Feb-20

Days: Wednesday + Saturday

All times are at Australian Eastern Standard Time (AEST)

Class Timetable

No upcoming events.

Site Content

Subject outline

Strategic Management Accounting is divided into 6 Modules


Module 1 - Introduction to strategic management accounting

Module 2 - Information for decision making

Module 3 - Planning, budgeting and forecasting

Module 4 - Project management

Module 5 -Performance management

Module 6 - Tools for creating and managing value

Case study


The contents of these modules are as follows:


Module 1 - Introduction to strategic management accounting

Part A: Value

• Shareholder value

• Customer Value

• Stakeholder value

• Which viewpoint should be taken when determining ‘value’?

Part B: The strategic management process

Part C: The role of management accountants in strategic management

• The role of management accountant

Part D: The key challenges facing management accountants

• Challenges

• Causes of change in the business environment

Part E: Analytical techniques available to management accountants

• Value analysis

• Strengths, weaknesses, opportunities and threats

• Internal analysis

• External analysis

• Porter’s five forces model


Module 2 - Information for decision making

Part A: Types of information needed for stakeholder decision-making

• The information needs of stakeholders

• Stakeholder management

Part B: Information, information systems and their effect on organisational decision-making and performance

• Impact of information systems on strategy formulation

• Different types of information systems

• Sourcing, aggregating and integrating information

• Characteristics and limitations of different kinds of information

• Characteristics of information

• Effects and challenges of new information systems and platforms

Part C: The role of management accountants in influencing stakeholder decision-making

• Balancing stakeholder requirements and information delivery

• Differing levels of information in the organisation

• Importance of linking information to strategy

• Roles of the management accountant

Part D: Upgrading or replacing information systems

• Stimulus for a new or updated system

• Making a preliminary assessment

• Pitfalls in evaluating major information needs

• Analysing new and existing information systems

• Evaluating a suggested information solution


Module 3 - Planning, budgeting and forecasting

Part A: Introduction to plans, budgets and forecasts

• Relationship between budgets and strategic planning

• Roles of operational plans, budgets and forecasts

• Purposes of a budget

• Relationship with responsibility accounting

• Planning and control

Part B: Developing master budgets

• Impact of external and internal factors on budgets

• Preparing operational budgets in manufacturing organisations

• Preparing budgets in non-manufacturing organisations

• Preparing financial budgets

• Preparing budgets for various departments

• Preparing flexible budgets

Part C: Variance analyses and control

• Static versus flexible budgets

• Profit- and revenue-related variances

• Direct material analysis

• Direct labour analysis

• Variable manufacturing overhead analysis

• Fixed manufacturing overhead analysis 

Part D: Behavioural aspects of budgets

• Participative budgeting

• Setting realistic and achievable targets

• Monetary and non-monetary incentive schemes

Part E: Alternative approaches to budgeting

• Shortcomings of traditional budgets

• Incremental budgeting

• Zero-based budgeting

• Activity-based budgeting

• Beyond Budgeting: Managing without budgets


Module 4 - Project management

Part A: Project management defined

• What is a project?

• What is project management?

• The project management process

• Organisational structures for projects

Part B: Roles in project management

• Project sponsor

• Project manager

• The project teams

• International project teams

• Virtual project teams

Part C: The management accountant’s role in project selection

• Developing a business case for projects

• Strategic fit

• Stakeholder identification and assessment

• Risk assessment

• Financial analysis—single project

• Financial analysis—multiple projects

Part D: The management accountant’s role in project planning

• Project scheduling

• Project budgeting

• Supplier contracts

Part E: The management accountant’s role in project implementation and control

• Monitoring progress

• Monitoring costs

• Monitoring specification and quality

• Measuring performance

• The importance of probity in projects

• Risk management

• Stakeholder management

Part F: The management accountant’s role in project completion and review

• The completion decision

• Checklist

• Specification satisfaction consensus

• Strategic fit assessment

• Stakeholder satisfaction assessment

• Financial closure

• Resource dispersion

• Final report

• Knowledge management


Module 5 -Performance management

Part A: The role of performance management

• The multiple roles of performance management

Part B: Strategy, management control and performance management

• Models of performance management

Part C: Determining performance measures and setting performance targets

• Performance management for performance improvement


Module 6 - Tools for creating and managing value

Part A: The value chain

Part B: Strategic product costing

• Introduction

• Activity-based costing

• Time-driven activity-based costing

Part C: Strategic revenue management

• Major influences on pricing decisions

• Pricing strategies

Part D: Strategic cost management

Part E: Strategic profit management — upstream activities

• Supplier management

Part F: Strategic profit management — downstream activities

• Customer profitability analysis


Case study

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