220800 Accounting for Decision Makers

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Subject handbook information prior to 2024 is available in the Archives.

UTS: Business
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

There are course requisites for this subject. See access conditions.
Anti-requisite(s): 22747 Accounting for Managerial Decisions AND 22800 Understanding Accounting and Financial Reports

Description

Accounting information is used by managers in all forms of business, including in the not-for-profit and government sectors. Understanding the objective of accounting and the nature and content of financial and non-financial reports is essential for tomorrow's leaders.

In this subject, students learn how to use accounting information to analyse past operations, plan future business activities and support internal decision making. Topics covered encompass elements of both financial and management accounting, arming students with the skills to budget, manage cost structures and profit plan. Furthermore, students develop an understanding of how accounting provides financial and non-financial information that influences the decisions of external stakeholders (shareholders, financers, government, customers etc.).

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:

1.	explain the purpose, content and format of financial statements, non-financial reports and the concepts which underpin the preparation of these statements
2.	apply skills in analysing financial and non-financial reports to interpret business activities, performance, and conditions disclosed in the main financial statements
3.	make decisions regarding the planning and controlling of business operations by explaining the role of, and apply skills in using management accounting information
4.	confront and address challenges and opportunities affecting the business using accounting information and business support systems to monitor operations

Contribution to the development of graduate attributes

Familiarity with accounting processes and conventions are an essential prerequisite for reviewing past business performance and planning future business activity. Knowledge of the information products generated by accounting is a necessary prerequisite for reviewing and managing business activity. Managers use accounting information to plan and control business operations and as decision support for the many changing situations confronting the business entity. The objectives of the subject contribute directly to the skills and knowledge required for postgraduate study in accounting for both the MBA and associated specialist streams.

This subject provides the necessary accounting knowledge to support the information required for decision situations faced by management relating to the operations, investments and their financing in a dynamic business environment.

This subject contributes to the development of the following graduate attributes:

Intellectual rigour and innovative problem solving
Professional and technical competence

This subject also contributes specifically to develop the following Program Learning Objective of the Master of Business Administration degree:

Synthesise critical thinking and advanced analytical skills to develop innovative solutions that address strategic business issues in complex contexts (1.1)
Integrate advanced skills and knowledge in professional business practice by researching and analysing complex information and concepts to support business decisions in local and international contexts (4.1)

Teaching and learning strategies

220800 is Online delivery only, with a number of interactive workshops – 3 in total to discuss any issues in relation to content and assessment tasks.

The subject content will be supported by detailed online learning modules to be accessed via Canvas. To enhance learning outcomes, each topic covered comprises:

detailed notes
self-assessment tasks integrated in each topic to reinforce theoretical knowledge and the practical application of this knowledge

Students will be exposed to real-life business/commercial situations and how the accounting system is used to measure and report the monetary/financial impact of business activities. The underlying theme will be the utilisation of accounting information for decision support for the diverse range of stakeholders. In business, all decisions require a cost/benefit analysis with accounting being responsible for the generation of the quantitative data required to make this analysis.

Students are expected to take charge of their learning and extend concepts beyond materials covered in workshops and tutorials. Students are directed to:

the recommended reference textbooks
self-study questions
supporting documents provided on UTS-Canvas.
Online financial databases

Feedback for completed student assessments tasks will be provided on a timely basis and continuously throughout the subject's duration. Consultations and subject enquiry with the lecturer will be scheduled throughout duration of the subject.

Content (topics)

Accounting - the language of business.
Financial Accounting processes used in capturing the monetary aspects of business transactions paid for and incurred (Accrual Accounting)
Preparing financial statements - Income Statement, Balance Sheet, and Cash Flow Statement
The analysis of financial statements – generating summary statistics leading to information products about the operating, investing and financing activities of the firm.
Management Accounting concepts and organisational mapping
Budgeting – mapping future business operations quantitatively
Cost Behaviour and Profit Planning of business activity
Relevant Costing to support strategic decision activity

Assessment

Assessment task 1: Report on Company Operations, Investments & Financing (Individual)

Objective(s):	This addresses subject learning objective(s): 1 and 2
Weight:	25%
Length:	As there are 5 separate questions, not including any numeric calculations the word length for each question should be around: Question 1: 250 words Question 2: 250 - 300 words Question 3: 250 words Question 4: 250 words Question 5: 250 words In total, the assignment word count should be in the range 1,250 - 1,500 words.
Criteria:	Application of knowledge of physical business operations and their conversion to monetary equivalents Understanding of core business operations, infrastructure (asset) investment and their financing

Assessment task 2: Financial Analysis Case Study (Individual)

Objective(s):	This addresses subject learning objective(s): 1, 2 and 3
Weight:	50%
Length:	Although the word limit is 1,500, (not including numbers or tables of numbers) exceeding the word limit will not result in a loss of marks. The intention is to generate business intelligence and develop skills for the reading and interpretation of financial statements and other financial media sources.
Criteria:	The case study requires a comparison of two ASX listed companies to enable assessment of students on their demonstrated ability to: analyse historical business operations and utilise accounting information to evaluate past operations and provide a framework to plan future operations relevance of commentary and critical analysis on sustainability, environmental and social issues depth of discussion of corporate governance issues including coverage of remuneration reports, audit reports.

Assessment task 3: Business Decision Scenario Analysis (Individual)

Objective(s):	This addresses subject learning objective(s): 2, 3 and 4
Weight:	25%
Length:	As there are four separate questions, not including any numeric calculations or tables the word length for each question should not exceed: Question 1: 400 words Question 2: 400 words Question 3: 300words Question 4: 400 words In total, the assignment word count should be in the range 1,250 - 1,500 words.
Criteria:	Accuracy of answers to specific decision situations Analysis of alternatives for business decision situations Consideration of business situations that may compromise ethical behaviour Demonstrate skill in the analysis, planning and control of physical business operations using accounting information

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Required texts

Faculty of Business: Guide to Writing Assignments, Faculty of Business, University of Technology, Sydney (accessed via the link) Guide to Writing Assignments

References

Birt, Chambers, Maloney, Brooks, Oliver and Bond Accounting, Business Reporting for Decision Making 7th Edition, 2020 Wiley

Tyler, J., Godwin,N. and Alderman, C., ACCT3 Financial: 3rd Asia-Pacific Edition, Cengage, 2019

Sivabalan, P., Wakefield, J., Sawyers, R., Jackson, S. and Jenkins, G., ACCT3 Managerial: 3rd Asia-Pacific Edition, Cengage, 2019

Deegan, C., An Introduction to Accounting: Accountability in Organisations and Society, Cengage, 2019.

Carlon, S., Rosina McAlpine-Mladenovic, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong, Financial Accounting: Reporting, Analysis and Decision Making 5th Edition 2016, Wiley

Hoggett, J., Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, Accounting, 9th Edition 2015, Wiley

Horngren's Accounting (8e) Nobles. T., Brenda Mattison, Ella Mae Matsumura, Peter Best, David Fraser, Sydney, Rebecca Tan, Roger Willett, 2015, Pearson Education.