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ACCT2522 - Topic 0 - Introduction - Lecture 2023 Student Slides - 1 Per Page

This document provides an introduction to the ACCT2522 Management Accounting for Decision Analysis course at UNSW Business School. It outlines the course structure and administration. The course covers topics related to using management accounting tools and techniques to support decision making, strategy implementation, and value creation. It introduces key concepts like activity-based costing, standard costs, variance analysis, and performance evaluation. The lectures will be led by three professors covering various topics. Assessments, resources, and the teaching approach are also summarized.

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98 views16 pages

ACCT2522 - Topic 0 - Introduction - Lecture 2023 Student Slides - 1 Per Page

This document provides an introduction to the ACCT2522 Management Accounting for Decision Analysis course at UNSW Business School. It outlines the course structure and administration. The course covers topics related to using management accounting tools and techniques to support decision making, strategy implementation, and value creation. It introduces key concepts like activity-based costing, standard costs, variance analysis, and performance evaluation. The lectures will be led by three professors covering various topics. Assessments, resources, and the teaching approach are also summarized.

Uploaded by

Freda Deng
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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UNSW Business School

ACCT2522 Management Accounting for Decision Analysis

Topic 0: Introduction

Dr Yee Shih Phua


Quad 3062
[email protected]
Lecturers (in order of appearance)
Dr Yee Shih Phua Topics 1-3: Intro to MA,
Understanding Processes &
Costing Basics, ABC, Standard
Cost & Variance Analysis.

Topics 4-6: Managing Costs Prof Mandy


& Quality, Managing Time - Cheng
Theory of Constraints &
Project Management.

Topics 7-9: Transfer Pricing,


Management Control &
Performance Evaluation, and MA
Information for Decision-Making
Dr Nicole Ang
Lecture Outline
Part I: Topic 0
A. Introduction to ACCT2522

Part II: Administration


A. Assessments
B. Course Resources
C. Approach to Learning and Teaching in this Course

3
Topic 0 (Introduction): Learning
Objectives
1. Understand the role of management accounting
practice in sustaining and creating value within
organisations

Optional Reading
• Langfield-Smith et al. (2022) 9th ed (hereafter LS
or Textbook)
• Chapter 1
1. What is Management Accounting?

Value Creation “The processes and techniques


Customers: Products & Services that focus on the effective and
Strategy Implementation

efficient use of organisational


resources, to support managers
in their tasks of enhancing both
customer value and shareholder
Activities Processes
value”
Langfield-Smith et al. (2022) p.6

Organisational Resources
Value creation for stakeholders
• Management Accounting
• “The processes and techniques that focus on the
effective and efficient use of organisational resources,
to support managers in their tasks of enhancing both
customer value and shareholder value”
• Langfield-Smith et al. (2022) p.7

“The value that a customer places on particular features of a


product” or service

• Elements of customer value


• Cost
• Quality - degree to which a product/service meets
expectations
• Time (Duration vs. Timeliness)

6
1. What is Management Accounting?

Value Creation “The processes and techniques


Customers: Products & Services that focus on the effective and
Strategy Implementation

Cost Quality Time efficient use of organisational


resources, to support managers
in their tasks of enhancing both
customer value and shareholder
Activities Processes
value”
Langfield-Smith et al. (2022) p.6

Organisational Resources

7
2. Uses of Management Accounting

Costing
Facilitate
(& Cost
decision Implementation
Management)
making
of Strategies

Performance
evaluation
(Decision
Continuous influencing)
Improvement
(CQT)
Uses of Management Accounting
Information from MAS
• Strategy formulation & implementation
• Planning
• Long-term vs. Short-term
• Control and performance evaluation (decision
influencing)
• Continuous improvement
• Especially wrt cost, quality, and time
• Facilitate decision making
• Costing and cost management

9
3. Comparing Management Accounting with
Financial Accounting Information (LO1)
Financial Management

1 External user focus 1 Internal user focus


2 Must follow externally 2 No mandatory rules
imposed rules
3 Financial data almost 3 Financial & nonfinancial
exclusively from data from many sources
accounting system
4 Objective with historical 4 Subjective with emphasis
orientation on the future
5 Reliable and verifiable 5 Timely and relevant
6 Highly aggregated 6 Information provided at
information varying levels of details
10
LS p. 8-10
ACCT2522 Course Map
Introduced in COMM1180; advanced
understanding in ACCT3583

Value Creation
Managing Costs Customers: Products & Services
2. Activity-based Costing Role of Management
Strategy Implementation

3. Standard Costs & Cost Quality Time Accounting (MA)


Variance Analysis
7. Responsibility
1. MA & Accounting & Transfer
Managing Quality Understanding Pricing
4. Cost & Quality Processes Planning
8. Management Control
& Performance
Managing Time Activities Processes Evaluation
5. Theory of Constraints
6. Project Management Control 9. MA Information for
Decision-making

Organisational Resources

Introduced in COMM1170
Lecture Outline
Part I: Topic 0
A. Introduction to ACCT2522

Part II: Administration


A. Assessments
B. Course Resources
C. Approach to Learning and Teaching in this Course

Required Readings
• Course Outline and Additional Information on
Assessments Document
• Available on Moodle 12
For more details, see “ACCT2522
Additional Information on
A. Assessments Assessments T1, 2023”

Non-Assessable
13
B. Course Resources
• Course text book
• Langfield-Smith, K., D. Smith, P. Andon, R. W. Hilton and H. Thorne
(2022). Management Accounting: Information for Managing and
Creating Value, 8th ed, McGraw-Hill Australia Pty Ltd.

• Supplementary readings
• You will be informed about any supplementary readings in
lectures/tutorials and
• Moodle ebooks are available on Moodle; or
• a soft copy will be placed on Moodle

• Reading materials, lecture and tutorial materials are all


assessable.

• Moodle
• Lecture/tutorial materials (and includes lecture recordings)
• Read latest announcements
• Podcast lecture on how to answer discussion
questions
14
C. Approach to Learning and Teaching
in this Course
• Lectures
• Tutorials (“Lagging lectures by a week”)
• Read prescribed readings
• Attempt interactive pre-practice tutorial questions
• Attempt the tutorial questions
• Solutions to calculative questions (only) are available on
Moodle one week after the tutorial
• No mobile phone (but exceptions)
• Tutorial enrolment problems
• All enquires to contact Business School Student
centre by submitting an online form on:
www.business.unsw.edu.au/requests 15
In Moodle!

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