This subject focuses on the effective use of management accounting information for planning and control decisions in business. Students will learn how different corporate and business strategies affect the design of formal systems used to plan and control the firm's performance. The instructional approach used in this subject blends theory with practice to facilitate student insight into the complex issues impacting the use and application of accounting information. The subject also links the more quantitative aspects of cost management and responsibility accounting with the more qualitative aspects of behaviour to highlight systems design and information use issues.
|Academic unit:||Bond Business School|
|Subject title:||Managerial Planning and Control|
Delivery & attendance
|Attendance and learning activities:||The mode of delivery requires an excellent attendance record to maximise learning opportunities. Students are expected to attend all classes and to notify the instructor of any absences. Appropriate records will be kept for all sessions, and absences may be reported.|
|Prescribed resources:|| |
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture 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
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:
- Evaluate the interrelationships between strategy, management accounting information and the design of organisational control and reporting systems.
- Create solutions that integrate appropriate accounting concepts and theory to address a range of contemporary management control issues.
- Justify advice and recommendations for a range of management decisions, including costing, pricing, capital budgeting, performance measurements, incentives and reward systems, and shareholder value creation.
- Analyse the legal, ethical, political, environmental, economic and social considerations of a firm’s operations.
- Apply the standards, ethics, and professional values of the accounting profession to a given scenario of ethical conflict.
- Explain contemporary reporting approaches including why organisations choose to disclose their performance of non-financial factors.
|Written Report §||1. Code of Conduct (0% for completion, 5% demerit for noncompletion or late submission) 2. Written team report and portfolio applying accounting theory and concepts to relevant current events||20%||Week 11||1, 2, 3, 4, 5, 6.|
|Seminar Presentation §||Team-led Class Discussion Question 2 (between weeks 3 and 10)||5%||In Consultation||1, 2, 3, 4, 5, 6.|
|Seminar Presentation §||Team-led Class Discussion Question 1 (between weeks 3 and 10)||5%||In Consultation||1, 2, 3, 4, 5, 6.|
|Paper-based Examination (Closed) ^||Comprehensive Final Examination||40%||Final Examination Period||1, 2, 3, 4, 5, 6.|
|Paper-based Examination (Closed)||Mid-semester Examination||30%||Week 8 (Mid-Semester Examination Period)||1, 2, 3, 4, 5.|
Students must achieve an overall mark of 50% to pass this subject. Students must pass the comprehensive final examination to pass this subject.
- ^ Students must pass this assessment to pass the subject
- § 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.
|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.|
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.
Students must check the [email protected] 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.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
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.
This topic covers key concepts and examples of responsible business practices and business ethics. It delves into the ethical requirements of professional accountants and how a professional accountant should go about resolving their own ethical conflicts.
We learn the importance of documenting the purpose and objectives of an organisation and consider various examples of mission statements and the messages they communicate, consider how corporate objectives should be phrased if they are to be realistically achieved, and are introduced to the concept of gap analysis, and how strategies are formulated. Key factors that influence an organisation’s ability to attain strategic objectives, and how they should be managed, are considered.
Appraising the external business environment and the organisation’s own resources and competitive advantage are covered. We consider factors occurring in the general economy, specific industries and markets, and the organisation’s product market which can affect a business’s strategic plans, and competitive advantage, its sources, and generic positioning strategies, as means of conducting internal appraisals. The management accountant’s role in conducting strategic analyses is highlighted.
We firstly explore management control systems and their purpose in the achievement of organisational goals, and then consider the decentralised organisation, and various issues in measuring the financial results of divisions.
We learn about capital investment decisions, the information required to be considered when making them, and explore four popular investment appraisal techniques: payback, accounting rate of return, net present value, and internal rate of return. Our attention is then drawn to making decisions about working capital as we consider ways to improve cash flows through managing debtors, inventory, and suppliers.
This topic covers how accounting information supports management in evaluating strategies. We revisit concepts that may influence the achievement of an entity's strategic objectives and identify information needs given different strategic positioning strategies, explore the notion of competitive intelligence, and consider some critical strategic analysis techniques. An important feature of this topic is the evaluation of strategic profit performance and the measurement of competitive effectiveness.
Our consideration of management control systems resumes as we consider performance management systems. We specifically examine the strengths and weaknesses of using budgetary controls as a dominant performance management system, and explore internal and cultural controls as alternative control approaches.
This topic introduces the concept of incorporating strategic components into a performance measurement system, and the Balanced Scorecard and Levers of Control are studied as means of implementing strategies. Rewards and incentives for performance are considered next, followed by risk management and how the accountant’s role fits in with managing enterprise risk.
We learn several alternate approaches to measuring shareholder value and how they might influence managers’ behaviour. The management of intangible assets is explored.
This final topic loops back to responsible business practices and links sustainability to the creation of value. We consider theories that explain why firms might adopt a sustainable business approach and motivations to report their non-financial performance. We consider the progression of voluntary disclosure frameworks to arrive at Integrated Reporting, its focus on reporting organisational performance in value-creation to its investors, and its paradigm of “six capitals” as stores of value.