General Information
Planning and control process of organisations, particularly the financially orientated aspects that emanate from the preparation of business plans and budgets, are considered. This considers both financial measures and non-financial approaches such as Balanced Scorecard. The assignment of responsibilities in accordance with strategic aims and the subsequent design of congruent control system is emphasized (including the Levers of the Control System, Working Capital Management and Shareholder Value Analysis). The design of such control systems includes coverage of the particular levels of responsibility, variance reporting and performance incentive schemes.
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Details
Academic unit: Bond Business School Subject code: GMBA70-304 Subject title: Management Control Systems Subject level: Postgraduate Semester/Year: May 2023 Credit points: 5.000 -
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Intensive Workload items: - Seminar: x1 (Total hours: 4.5) - Seminar 1
- Seminar: x1 (Total hours: 4.5) - Seminar 2
- Seminar: x1 (Total hours: 4.5) - Seminar 3
- Seminar: x1 (Total hours: 4.5) - Seminar 4
- Personal Study Hours: x12 (Total hours: 36) - Recommended study time & reviewing materials
Attendance and learning activities: BBT Study tour week. Attendance at all scheduled sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. -
Resources
Prescribed resources: Books
- Merchant, K.A., and Van der Stede, W. A. (2017). Management Control Systems: Performance Measurement, Evaluation and Incentives. 4th, Pearson Education, Harlow,
iLearn@Bond & Email: iLearn@Bond is the Learning Management System at Bond University and is used to provide access to subject materials, class recordings and detailed subject information regarding the subject curriculum, assessment, and timing. Both iLearn and the Student Email facility are used to provide important subject notifications.
Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
| Academic unit: | Bond Business School |
|---|---|
| Subject code: | GMBA70-304 |
| Subject title: | Management Control Systems |
| Subject level: | Postgraduate |
| Semester/Year: | May 2023 |
| Credit points: | 5.000 |
| Timetable: | https://bond.edu.au/timetable |
|---|---|
| Delivery mode: | Intensive |
| Workload items: |
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| Attendance and learning activities: | BBT Study tour week. Attendance at all scheduled sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. |
| Prescribed resources: | Books
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|---|---|
| iLearn@Bond & Email: | iLearn@Bond is the Learning Management System at Bond University and is used to provide access to subject materials, class recordings and detailed subject information regarding the subject curriculum, assessment, and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au |
Enrolment requirements
| Requisites: |
Nil |
|---|---|
| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge. Assumed Prior Learning (or equivalent):
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| Restrictions: |
Nil |
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Explain the control function of management and its role in the operation of organisations
- Learn management control alternatives, and assess their effects in different organisational contexts
- Learn the financial results control systems, outline their purpose, and explain their advantages and disadvantages as management control methods
- Identify performance measurement techniques, and know the issues related to their application
- Apply current management accounting control concepts and techniques in business decision-making
Generative Artificial Intelligence in Assessment
The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.
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Assessment details
Type Task % Timing* Outcomes assessed Computer-aided Test (Closed) Tests 10.00% Week 1 3,4,5 Case Analysis Individual Case 15.00% In Consultation 1 Case Study§ Group Case Analysis and Report 25.00% In Consultation 1,2,3,4,5 Computer-Aided Examination (Open) Final Exam/Project 50.00% Non-Standard Examination Period 1 - § Indicates group/teamwork-based assessment
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
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Assessment criteria
Assessment criteria
High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment. Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
| Type | Task | % | Timing* | Outcomes assessed |
|---|---|---|---|---|
| Computer-aided Test (Closed) | Tests | 10.00% | Week 1 | 3,4,5 |
| Case Analysis | Individual Case | 15.00% | In Consultation | 1 |
| Case Study§ | Group Case Analysis and Report | 25.00% | In Consultation | 1,2,3,4,5 |
| Computer-Aided Examination (Open) | Final Exam/Project | 50.00% | Non-Standard Examination Period | 1 |
- § Indicates group/teamwork-based assessment
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
Assessment criteria
| High Distinction | 85-100 | Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. |
|---|---|---|
| Distinction | 75-84 | Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. |
| Credit | 65-74 | Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. |
| Pass | 50-64 | Usually awarded to students whose performance meets the requirements set for work provided for assessment. |
| Fail | 0-49 | Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. |
Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Study Information
Submission procedures
Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Academic Integrity
Bond University‘s Student Code of Conduct Policy , Student Charter, Academic Integrity Policy and our Graduate Attributes guide expectations regarding student behaviour, their rights and responsibilities. Information on these topics can be found on our Academic Integrity webpage recognising that academic integrity involves demonstrating the principles of integrity (honesty, fairness, trust, professionalism, courage, responsibility, and respect) in words and actions across all aspects of academic endeavour.
Staff are required to report suspected misconduct. This includes all types of plagiarism, cheating, collusion, fabrication or falsification of data/content or other misconduct relating to assessment such as the falsification of medical certificates for assessment extensions. The longer term personal, social and financial consequences of misconduct can be severe, so please ask for help if you are unsure.
If your work is subject to an inquiry, you will be given an opportunity to respond and appropriate support will be provided. Academic work under inquiry will not be marked until the process has concluded. Penalties for misconduct include a warning, reduced grade, a requirement to repeat the assessment, suspension or expulsion from the University.
Feedback on assessment
Feedback on assessment will be provided to students according to the requirements of the Assessment Procedure Schedule A - Assessment Communication Procedure.
Whilst in most cases feedback should be provided within two weeks of the assessment submission due date, the Procedure should be checked if the assessment is linked to others or if the subject is a non-standard (e.g., intensive) subject.
Accessibility and Inclusion Support
Support is available to students where a physical, mental or neurological condition exists that would impact the student’s capacity to complete studies, exams or assessment tasks. For effective support, special requirement needs should be arranged with the University in advance of or at the start of each semester, or, for acute conditions, as soon as practicable after the condition arises. Reasonable adjustments are not guaranteed where applications are submitted late in the semester (for example, when lodged just prior to critical assessment and examination dates).
As outlined in the Accessibility and Inclusion Policy, to qualify for support, students must meet certain criteria. Students are also required to meet with the Accessibility and Inclusion Advisor who will ensure that reasonable adjustments are afforded to qualifying students.
For more information and to apply online, visit BondAbility.
Additional subject information
A peer-evaluation system will be used in this subject to help determine the individual marks for all group assessments. As part of the requirements for Business School quality accreditation, the Bond Business School employs an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Subject curriculum
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The Control Function of Management
This topic discusses the link between corporate objectives, strategies and management control. It explains the basic control problems organisations face, including fraud. The topic introduces three forms of control issues and explains the control alternatives available to address these control issues. As all control systems require risk assessment, current risk management frameworks and ethics are also covered.
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Management Control Alternatives - Results Controls
This topic introduces results controls, which involve rewarding individuals for generating organisation wealth. Discussions include their impact on organisations and employees. It explains the conditions required to ensure efficient results controls and the linkage between results control and rewards.
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Management Control Alternatives – Action & People Controls
This topic covers two more management control processes: action controls and people controls. Discussions include explaining what both types of control are and the conditions required for action and people controls to be most effective.
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Control System Tightness
This topic looks at identifying different performance techniques and evaluating their impact. The different types of control covered in Topics 2 & 3 are re-assessed when control tightness is applied.
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Control System Costs
All systems cost time and effort to implement. This topic explains the cost-benefit considerations relevant to management control systems. Discussions include differentiating between direct and indirect costs and identifying behavioural issues that influence the success of control systems.
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Designing and Evaluating Management Control Systems
When designing management control systems, what controls should be used, and how tightly should each control be applied? This topic examines these two fundamental questions, assessing the gap between what is desired and what is likely to happen.
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Financial Responsibility Centres
There are three core elements to financial results controls and this topic introduces financial responsibility centres. The design of financial responsibility centres – the internal divisions of an entity - will influence the behaviour of individual managers with each other. The need for transfer pricing and various forms of transfer pricing are covered.
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Planning & Budgeting
The importance of planning and budgeting to management control systems cannot be understated. The direct links to KPIs, and the format of financial responsibility centres directly affect management. Discussions cover short and long term ramifications of different types of budget behaviour, ensuring budgets begin with corporate strategies and setting budget targets that are achievable and sustainable.
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Incentive Systems
This topic covers the final component of financial results control – Incentives. It explains the various forms of rewards and punishments used in organisations to motivate staff towards the direction of corporate strategies. Characteristics of incentives are unpackaged, including the link between individual rewards and organisation results.