Course Title: Management Accounting and Business
Part A: Course Overview
Course Title: Management Accounting and Business
Credit Points: 12.00
Universitas Pelita Harapan
Course Coordinator: Dr Sarath Ukwatte
Course Coordinator Phone: +61 3 9925 5763
Course Coordinator Email: firstname.lastname@example.org
Course Coordinator Location: Level 11, Building 80, Swanston Street, Melbourne
Pre-requisite Courses and Assumed Knowledge and Capabilities
It is assumed you will have knowledge of introductory accounting and management accounting to be able to apply them in a business setting.
You are advised to follow the sequence of courses in the degree structure.
This course develops the theory and application of finance in a management accounting control context. The course provides an opportunity for you to understand how finance theory and applications are used by managers in management accounting decision making and to fulfil their accountability to stakeholders.. Key finance methods used by management accountants for a variety of planning, strategic and risk management decisions are explored in detail in this course.
Case-based scenarios are used to illustrate a variety of organisational contexts designed to engage students in active discussion each week. Practical skills in areas of standard costing, contemporary approaches to budgeting, working capital management and capital investment decisions for business operations will be developed. The practical application enables students to further conceptualise and articulate the use of finance within organisations, in a management accounting context.
In this way, you will gain a broader understanding of the implications of finance in management accounting decisions. The advantages and limitations of finance techniques in decision making expose students to the broader social and behavioural context of finance in management accounting control. You will explore the situations in which finance supports, or hinders, both short and long term strategic investment decisions. A critique of financial risk management calculation is a key focus area for this course.
Objectives/Learning Outcomes/Capability Development
On the successful completion of this course you will demonstrate your work-readiness skills by being able to:
- Prepare, analyse and communicate management accounting and finance data for decision making to specialists and non-specialists.
- Prepare and evaluate analytical reports for short-term operational plans and long-term strategic capital investments.
- Evaluate and make assumptions about pricing business and operating plans and recognise the trade-off required if different courses of action are taken.
- Identify business risks faced by organisations and develop and communicate risk management strategies to specialists and non-specialists.
- Evaluate contribution of management accounting and finance functions to the accountability and social aspects of an organisation while maintaining organisational sustainability
Overview of Learning Activities
In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online activities comprising individual and group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.
Overview of Learning Resources
Various learning resources are available online through MyRMIT Studies\Canvas. These may include topic notes and slides, a study schedule, assessment details, links to relevant internet information, readings and communication tools to facilitate collaboration with your peers and sharing of information.
Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT library website.
Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period.
This course includes a Work Integrated Learning (WIL) experience in which your knowledge and skills will be applied and assessed in a real simulated workplace context and where feedback from industry and/or community is integral to your experience.
Overview of Assessment
Assessment Task 1: 20%
Linked CLOs:1, 2, 3, 4
Assessment Task 2: 30%
Linked CLOs: 1, 2, 3, 4, 5
Final Exam: 50%
Linked CLOs: 1, 2, 3, 4, 5,
Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.