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Management Decision Making

Duration: 1 teaching period

Unit Code: ACC20014

Contact Hours: Recommended 10 hours of study per week

About this unit

This unit is designed to introduce students who are not majoring in accounting to the planning, controlling and decision making functions found in organisations. The unit introduces students to the relevant management accounting concepts, literature and information necessary for effective decision making and problem solving.

Content

  • Introduction to organisational strategy and culture and their impact on planning, control and decision making
  • The selection and application of appropriate Management Control Systems to assess the qualitative and quantitative aspects of a business
  • Qualitative and quantitative performance and reward measures
  • Using the Balanced score card as a way to link qualitative and quantitative aspects of a business together
  • Total Quality Management as a control philosophy to reduce wastage
  • Decision making biases
  • Business ethics and its role in reducing risk and building social capital

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