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Accounting Information and Managerial Decision Making

Unit Code: HBC480

Duration

Contact Hours

Campus

Prerequisite

Corequisite

One teaching period.

36 hours

Hawthorn

Nil

Credit Points: 12.5 Credit Points

Related Course/s:

A core unit in the Master of Business Administration and Master of Business Administration/Master of Strategic Foresight (CMBF680)

Aims & Objectives:

The unit is designed to provide relevant finance for managerial decision-making using pedagogy that is integrative, experiential and practice driven.
The unit develops a student’s ability to make informed judgements and to take effective, ethical and timely actions regarding the current and future allocation of resources in the context of a complex global business environment.
The unit provides quantitative skills and challenges students to evaluate the assumptions, behavioural implications and qualitative factors in decision-making. The unit will explores uncertainties, opportunities and biases in decision-making.
The unit uses appropriate financial information and techniques in entrepreneurial, start-up, survival and high-growth situations.
The unit also encourages students to think more deeply about accounting and finance problems.
Students are able to identify sections of the unit, which enhance their knowledge and allow the performance of computations.
Part of the unit enhances a student’s ability to identify a problem, list uncertainties and discern relevant information.
As part of the decision making process students are encouraged to interpret bias, evaluate alternatives, organise information and clearly state assumptions. Decision criteria are examined and evaluated.
Parts of the unit will encourage students to look for appropriate strategic directions.
Students are encouraged to think beyond numerical correct solutions. Value judgements and conflicts of interest will present ethical dilemmas for discussion.

Teaching Methods:

Seminar discussions; group exercises and case studies; practical company monitoring and analysis; individual student presentations; team presentations on a listed company’s performance.

Assessment:

Individual class test (15% - 25%)
Group assignment (25% - 35%)
Final test (45% - 55%)

Generic Skills Outcomes:

On completion of this unit, students should be able to effectively access the accounting and financial disciplines in decision-making, to assist the process of making informed judgments and effective, ethical and timely actions as to current and future allocation of resources in a complex global environment. This includes:

Ranking a deciding among alternative courses of action regarding the allocation of financial resources
The capacity to make and communicate decisions about sourcing finance
The capacity to manage the finances of a unit or organisation
Capacity to use financial information systems in order to inform decisions across the business
Ability to manage financial risk
Ability to relate financial performance drivers and financial performance indicators and to link non-financial indicators to financial indicators
Understanding of key economic variable, drivers and contexts

Content:

Accounting Information for Managers and other Stakeholders
Private, Non-profit, Statutory authorities
Performance Metrics, Economic Indices
Management Perspective of Financial Statements
Maintaining Capital, Returns to Suppliers of Funds
Accounting Systems-Cash vs. Accrual Accounting
Cash Flow Management
Analysis of Operating Performance
Cost Concepts, Relevant Costs for Decisions
Cost Objects and Measurement
Costs of Products, Services, Divisions
Business Performance Reporting – Controllable Costs
Short Run Decisions – Opportunity evaluation
Strategic Planning and Budgeting Uncertainty
Financial Planning – commercialisation of opportunities