Management Decision Making
Duration
- One Semester or equivalent
Contact hours
- 36 hours
On-campus unit delivery combines face-to-face and digital learning. For Online unit delivery, learning is conducted exclusively online.
Prerequisites
Anti-req (unit similar in content)
ACC20007 Management Accounting for Planning and Control
Corequisites
NilAims and objectives
Not offered from 2021
This unit is designed to introduce students to the planning, controlling and decision making functions found in organizations. The unit introduces students to the relevant management accounting concepts, literature and information necessary for effective decision making and problem solving.
Students who successfully complete this unit will be able to:
1. Describe and explain the major practical and theoretical issues impacting management’s use of management accounting.
2. Work collaboratively and ccritically appraise the information required for effective and efficient planning, control and decision making.
3. Apply management accounting principles in order to analyse and solve practical problems.
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
Face to Face Mode:
Scheduled hours: Lectures (12 x 1 hour) - 12 hours, Tutorials (12 x 2 hours) - 24 hours
Online Mode: SOL
This includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
To be successful, students should:
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Scheduled hours: Lectures (12 x 1 hour) - 12 hours, Tutorials (12 x 2 hours) - 24 hours
Online Mode: SOL
Engaging with online content and discussions
Student workload:
For all teaching and learning structures (both face to face and online), students are expected to spend an average of 150 hours per unit in total over the duration of the study periodThis includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
• Non-scheduled learning events and activities (including directed online learning activities, assessments, independent study, student group meetings, and research)
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Assessment
1. Class Test (Individual) 10-20%
2. Assignment (Group) 30-40%
3. Final Examination (Individual) 40-60%
2. Assignment (Group) 30-40%
3. Final Examination (Individual) 40-60%
General skills outcomes
During this unit students will receive feedback on the following key generic skills:
- Teamwork skills,
- Analysis skills,
- Problem solving skills,
- Communications skills,
- Ability to tackle unfamiliar problems, and
- Ability to work independently
Content
- Introduction to the use of accounting information and its impact on planning, control and decision making within organizations
- The selection and application of appropriate Management Control Systems to assess the various aspects of an organisation’s performance
- Qualitative and quantitative performance and reward measures
- An introduction to the Balanced score card, Total Quality Management and sustainability and their impact on decision making within organisations.
- Decision making biases
Study resources
- Reading materials.
Reading materials
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.