This course will examine, in depth, topical areas from the discipline of management accounting. The emphasis is on why and how the various concepts learned in the previous 2 cost accounting courses and other advanced level management accounting concepts are applied in business environment. The course examines: the strategies used by manufacturing and service entities as well as not-for-profit and government organizations; the characteristics of effective management control systems that are in place to motivate managers and employees to implement strategies; motivating behaviour through the understanding of agency theory, rules of ethics, and the need for trust and goal congruency; the use of budgeting process as a tool to implement strategy; the use of activity-based management for goal congruency; performance measurements on strategic business units; measuring and controlling assets employed; assessing performance over the value chain functions; strategy maps and the use of the balanced scorecard in for-profit sector, and in government and other organizations; the use of transfer prices to promote goal congruency in business units; long-term spending decisions to develop future capabilities and capital budgeting; and short-term decision tools such as regression, linear programming, expected values, decision-trees and analysis of uncertainty and risk. The students will also analyze applicable case material and videos, and research businesses in order to identify and comprehend the applied management accounting practices. A number of cases will be assigned as individual and team assignments. There is also a project requiring the students to: research specific firms; discuss the strategies, the management control systems that are put in place to ensure that strategies are implemented and the effectiveness of the control systems; identify the performance measures that are used in the firms; implement benchmarking process; create the balanced scorecard; make recommendations for operational improvements; record the above in a term paper; and make presentations to the class. (4.0 Credits)
Departmental Approval Needed - THIS IS A DEGREE LEVEL COURSE FOR THE BACHELOR OF TECHNOLOGY IN ACCOUNTING. Please note the following registration guidelines: 1.) Acceptance into the Btech in Accounting Program, or 2.) Completion of FMGT 3210 and 4210 (or equivalent), with minimum average grade of 65% and special approval from the Department; this can be otained by calling the Degree Programs Administrator at 604-456-8070.
This course offering is full. Please check back next term or contact the appropriate Program Assistant [PDF] to determine when this course will be offered again.
Upon successful completion, the student will be able to:
Develop analytical and critical thinking skills by: exploring relationships between strategies and operational initiatives to meet the goals of the organization; creating the balanced scorecard for organizations; identifying appropriate performance measures to motivate managers to fulfill the goals of the organization; recognizing opportunistic behaviour of decision-makers; using appropriate decision tools for short-term and long-term decisions, in manufacturing and service entities and in both for-profit and non-for-profit organizations.
Apply management accounting concepts to varying types and sizes of organizations including small to medium-sized businesses.
Develop communication and teamwork skills.
Assess the importance of ethical decisions/behaviour as they relate to all aspects of an organization.
Integrate the major topics of advanced management accounting.
Understand the behavioural aspects of management accounting.
Perform analyses relevant to specific managerial decisions.
Enhance awareness of current issues in designing and implementing effective management control systems.
Make decisions under difficult and unique environmental circumstances, either internal or external.
Plan for constraints placed on organizations, such as competition, economies of scale, limited resources, out-sourcing, and factors affecting pricing decisions.
Understand the challenges of motivating, controlling and evaluating decentralized organizational units.
Discuss how the balanced scorecard provides a comprehensive framework for strategic and operational control.
Examine the nature of organizational planning, the establishment of goals and goal congruence.
Evaluate management control systems for an organization.
Measure performance in relation to controls and assess the importance of self-regulating systems and employee involvement.
Discuss how decisions are made for investments in new technologies by determining investment payoffs, which also include enhanced performance for customers, for critical internal processes and for enhancing organizational capabilities.
Analyze the effects of various pay incentive schemes on performance.
Apply soft-ware tools, such as Regression, Linear Programming Models, Decision-Trees, etc., to assist in complex short-term and long-term operational decisions.
? Apply soft-ware tools, such as Regression, Linear Programming Models, Decision-Trees, etc., to assist in complex short-term and long-term operational decisions.
FMGT 7210 is offered as a part of the following programs:
School of Business
Accounting Full-time/Part-time Bachelor of Technology