TCPA702 Strategic Management Accounting

This unit provides extended formal academic support to students concurrently enrolled in the Strategic Management Accounting unit of the CPA program.
Strategic management accounting is a key component of the overall skills base of today’s professional accountant. This subject examines the management accountant’s role in dynamic organisations operating in the global business environment. In this role, the professional accountant engages with the organisation’s management team and contributes to strategy development and implementation, with the aim of creating customer and shareholder value and a strong competitive position for the organisation. The subject highlights the management accounting tools and techniques of value chain analysis and project management that have become increasingly important in contemporary operating environments.
On completion of this subject, students should be able to apply the strategic management process and organisational and industry value analysis to understand value drivers, cost drivers and the reconfiguring of value chains, as well as understand stakeholders’ various decision-making needs and provide adaptive information solutions. Students are expected to develop the capabilities to design an effective budgeting system that incorporates uncertainty to assist in strategy implementation discuss the role of project selection, planning, monitoring and completion in strategy implementation, as well as explain the role of performance measurement and control systems in value creation, strategy implementation and monitoring performance to improve strategies. Finally, students are expected to apply strategic management accounting tools and techniques to improve the contribution and sustainability of value-creating activities.