Accounting for Decision Making

This subject has the following teaching availabilities in 2016:

Estimated total time commitment of 120 hours per semester

Students will not be permitted to enrol in FNCE90055 Financial Decision Making if they have already completed ACCT90004 Accounting for Decision Making.

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This subject is designed to enable students to be informed users of accounting information of all types. It is divided into three parts. The first part of the subject covers the basic concepts in accounting and the terminology used by accountants. The second part deals with concepts associated with the financial reports prepared primarily for external users such as financial analysts, creditors (such as bankers), and shareholders. In this section reference is made to local and international accounting standards. The third part of the subject covers the basic concepts associated with information for managers within the firm. This includes basic cost concepts, product costing, and the techniques used for decisions such as pricing, product mix, outsourcing and capital investment.

On successful completion of this subject, students should be able to:

• Describe the nature and purpose of financial statements;
• Interpret and apply the conventions and rules underlying the preparation of major accounting reports;
• Analyse financial and managerial decision making and the different accounting information that supports these decisions.

Semesters 1 & 2:

• One 2-hour end-of-semester examination (60%)
• One hour mid-semester test (15%)
• 1500 word assignment due late in the semester (15%)
• Workshop preparation and contribution (10%)

Note: Successful completion of this subject requires a pass (50%) in the final exam.

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

In respect of issues related to accounting, to:

• Think critically about financial and managerial accounting theory, tools and techniques;
• Evaluate, analyse and interpret relevant accounting information;
• Apply financial statement analysis theory and practice;
• Utilise problem solving skills;
• Articulate responses, either orally or in written form.

In addition, students will have enhanced their ability to:

• Listen to others dispassionately and tolerantly;
• Engage in discussion and, where appropriate defend a position;
• Offer constructive criticism.

Students accepted into the Master of Management programs, the Master of Business and Information Technology, the Master of International Business, the Postgraduate Diploma in Finance and the first year of the Master of Finance are eligible to enrol in this subject. Students should note that the subject will be delivered in a lecture plus workshop format. Students will be required to attend 1 lecture and 1 workshop per week.

This subject is not available to Master of Accounting students.