22747 Accounting for Managerial Decisions

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

UTS: Business: Accounting
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): 220800 Accounting for Decision Makers AND 22784 Accounting: Concepts and Applications AND 22800 Understanding Accounting and Financial Reports

Description

This subject aims to expose students to the nature and use of accounting information as used by managers to plan and control business operations as well as for decision support. The subject is intended to prepare students to understand and use accounting information for decision support, analysing historical operations and planning future business activity. It provides a sound grounding in the application of accounting concepts and techniques used to gain intelligence about all aspects of business operations.

The topics comprise a mix of financial and management accounting. The financial accounting topics concern the basic financial statements, their analysis and the concepts and procedures that underpin their preparation. The management accounting topics relate to cost and profit planning, and the use and application of financial information to support management decision activity for both routine and non-routine business situations.

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 and the methods used by accountants to prepare these statements
2.	Apply skills in analysing, recording and reporting accounting information including through the use of computerised accounting systems
3.	Explain the role of management accounting information in managerial decision-making and apply basic management accounting techniques
4.	Use information and/or business support systems to monitor issues, problems and opportunities affecting business

Contribution to the development of graduate attributes

This subject contributes to the development of the following graduate attribute(s):

Communication and collaboration
Professional and technical competence.

Familiarity with accounting processes and conventions are an essential 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 constantly facing business. Thus the objectives of the subject contribute directly to the objectives of postgraduate study in accounting for both the MBA and Masters programs. This subject provides the necessary accounting knowledge to support the information requirements for the operating, investing and financing decisions faced by management in a dynamic business environment.

This subject develops students' business practice-oriented skills by introducing the technical and accounting professional skills needed to operate effectively in a variety of industry contexts.

This subject also contributes specifically to develop learning relevant to the following Program Learning Objective(s) of the Master of Professional Accounting degree:

Demonstrate high level technical skills necessary to operate effectively in professional accounting practice (4.1)

Teaching and learning strategies

This subject adopts the following teaching and learning strategies. These strategies include flipped learning activities where you apply in-class the material which you have learned prior to coming to class. The subject also incorporates active in-class learning experiences where you collaborate with other students to discuss authentic accounting problems.

Preparation outside the class: One of the principal learning strategies for this subject involves the preparation of assigned material prior to class. Students are required to read and reflect upon assigned readings and problems from the textbook and other sources and are expected to apply this learning when they come to class. This preparation incorporates the completion of self-study problems which are available in the textbook and on the learning management system. The solutions to these questions are not discussed in class but are made available on the learning management system. By comparing suggested solutions to their prepared answers, students are able to make a self-assessment of their progress in understanding the material in the subject. This self-assessment activity is designed to provide students with feedback and to guide students on those areas where they may wish to seek additional assistance and feedback from subject staff.

In-class activities: Each seminar session uses a combination of lecture and interactive learning activities. The lecture activity is designed to build upon their prior reading of assigned material to ensure that students comprehend the technical aspects of each topic. The lecture activity will typically incorporate in-class discussion and the application of the technical content to authentic accounting problems through the completion of in-class exercises. Students will also be involved in active learning experiences as a portion of each seminar will be devoted to the completion of unseen accounting exercises. These exercises will require you to apply the material which you have read and reflected upon prior to attending the class (see above). This in-class activity will be completed in collaboration with other students and provides students with the opportunity to obtain in-class peer feedback on their learning.

In addition, time will be made available in both the interactive lecture and the tutorials for students to work collaboratively on their Assignment and to get feedback from teaching staff on their progress.

Online activities: Your learning in this subject also requires participation in online learning activities. This will include the accessing and pre-reading of materials placed on the learning management system, which will be discussed in class (e.g., PowerPoint slides, watching videos and other material). The lecture slides provided on the learning management system are intended merely to provide you with an overview of what will be discussed in lectures. You are expected to add your own additional notes and explanations. Lecture slides for each lecture are available before each lecture for you to download from the learning management system and bring with you to class.

Student learning in this subject is also facilitated through online discussion forums which are available throughout the session to all students on the learning management system. These discussion forums can be used to ask questions relating to subject content and subject administration. The forums, therefore, provide an alternative method of obtaining feedback on your learning from subject staff. The discussion forums also allow students to engage with and discuss subject content with other students.

Consultation with subject teaching staff: All subject teaching staff are available for a one-on-one consultation with students. The specific times that staff are available for consultation will be advised in seminars by your lecturer and can also be found on the learning management system. Meeting staff during consultation provides an opportunity for students to receive feedback on their learning in this subject.

Content (topics)

Introduction to accounting, accounting framework and some accounting concepts
Description, explanation and analysis of financial statements
Introduction to financial ratios analysis
Basic cost concepts, cost behaviour and cost accounting
Supporting decision-making and alternative choices
Introduction to strategic planning and budgeting

Assessment

Assessment task 1: Theory Quiz and Practical Assignment (Individual)*

Objective(s):	This addresses subject learning objective(s): 1, 2 and 4
Weight:	40%
Length:	Part A, Theory Quiz is a half hour online test with 20 multiple choice questions. Part B, Practical Assignment is a 10 page report and accompanying excell worksheet
Criteria:	Part A: Application of theory: Able to correctly apply theory to a basic scenario example Evidence of understanding financial accounting theory Accounting calculations: Able to correctly calculate the answer for a basic concept Part B: Depth of discussion in chosen company and its ESG costs and benefits Accuracy of forecasting and computation of valuation metrics Analysis and discussion of the valuation metrics and the justification and accuracy of the investment recommendation *Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Assessment task 2: Case Study using Computer Accounting Software (Individual)

Objective(s):	This addresses subject learning objective(s): 1 and 2
Weight:	10%
Length:	Assessment task two is an online self-paced computer assignment with a total of 36 questions.
Criteria:	Evidence of the understanding of accounting concepts used for the analysis and recording of business transactions. Evidence of skills associated with the set-up and operation of a multi-location business using computer based accounting software. Clarity as evidenced by the provision of accurate accounting reports detailing the financial results of operations of a multi-location business. Craftsmanship in the preparation and design of the financial reports.

Assessment task 3: Final exam (Individual)

Objective(s):	This addresses subject learning objective(s): 3 and 4
Weight:	50%
Length:	Assessment task 3 is a 2 hour exam with a total of 5 questions (4 questions with one having two parts).
Criteria:	This assessment will be graded on the following criteria: correct application of financial and management accounting techniques and theories accuracy of answers level of detail and the clarity of your answers

Minimum requirements

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

Required texts

RESOURCES FOR 22747 Accounting for Managerial decisions

Integrated MindTap To access use the direct link in your Canvas page.

MindTap: ACCT4 Financial: Asia-Pacific Edition

MindTap for Tyler's ACCT4 Financial, 2-terms instant Access: ISBN 9780170451895

MindTap: ACCT4 Management, Asia-Pacific Edition

MindTap for Sivabalan ACCT4 Management, 2-terms Instant Access ISBN: 9780170451932

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MindTap is an interactive eLearning resource designed to help you master this subject. It includes the eBook for your course and other helpful online study tools such as videos, self-test activities, revision aids, and more.

References

Atrill, P., McLaney, E. and Harvey, D. (2018) Accounting for Non-Specialists (7th ed.), Pearson.
Miller-Nobles, T.L., Mattison, B.L. and Matsumura, E. M. (2015) Horngren's Accounting (8th ed.), Prentice-Hall