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In this second Management Accounting course, we expand on the knowledge gained from Management Accounting A. The course includes an expanded view of an organisation to include its value chain and adopts a strategic focus, which are key components of the overall skills base of today’s professional. The study of these management accounting tools and techniques is relevant not only in job readiness as a business graduate with an accounting major but also as a preparatory knowledge base in their respective professional year programs for a career in business.

Professional accountants’ involvement in organisational management team, their contribution to strategy development and implementation aimed at creating customer and shareholder value, and a strong competitive position for the organisation. Consequently, graduates need to possess an understanding of the strategic application of management accounting tools and techniques of value chain analysis and environmental management accounting contributing to organisations’ sustainability. This course is a required technical and profession competency component of CPA and CAANZ accreditation and specifically addresses Technical Competency Area 7.

This course is designed to provide you with the general knowledge that covers the components of the advanced strategic and environmental management accounting tools and techniques of value chain analysis and associated strategic techniques needed for business sustainability. The course focuses on providing you with an introductory, developing, and advanced levels for their competencies, skills, and knowledge in the practical application and interpretation of management accounting techniques. You may use this opportunity to develop an understanding of how these modern tools support the evaluation of business practice, capacity identification, planning, control, and decision making in the performance of an organisation. You may also use its products, people, and business segments using financial and non-financial KPIs to be well-informed individuals and critical thinkers for decision making to help develop your employability as a business graduate with an accounting major.

This course contains `online' Forum discussion, which provides formative learning outcomes opportunities through effective communication and collaboration and summative assessment and peer learning.

On completion of this course students should be able to:

1. explain the role of strategy in business and ethical considerations of decision making as they relate to organisations and management accounting (TCA7 LO1 (b & d) & Lo5 (a));
2. apply appropriate quantitative techniques, use traditional and strategic costing information for business planning and control (TCA7 LO3 (b) & (d));
3. apply the principles and procedures involved in analysing and managing an organisation’s working capital requirements (TCA7 LO4);
4. evaluate the performance of an organisation, its products, people, and business segments including the use of financial and non-financial performance indicators (TCA7 LO5 (b),(c) & (d));
5. analyse data and information to prepare reports that support management decision making:
   1. reports to support management decision making on quality control, performance measurement, and comparative analysis
   2. report writing to communicate (i) business insights and recommendations; (ii) business decisions and their rationale (TCA7 LO1 (c) & LO6 (b) & (c));
6. critically apply quantitative business and performance data to provide possible solutions to organisations (ALS 3);
7. justify and communicate data and strategic business information to specialists and non-specialists (ALS 4).