The notes are structured in a way to answer exam questions. Includes: Strategic Management Accounting; Value Chain Analysis; Target Costing; Customer Profitability Analysis; Cost and Quality; Management Accounting Control Systems; Budgeting; Levers of Control; Integrated Reporting; Big Data.
- why would organisations adopt SMA? Cons of traditional MA.......................................................................... 4
- definition of SMA................................................................................................................................................ 4
- characteristics of TMA vs SMA ........................................................................................................................... 5
- SMA frameworks ................................................................................................................................................ 6
- Concept of Value: ................................................................................................................................................ 9
- Concept of Value Chain: ..................................................................................................................................... 9
- Porter’s Value Chain Model: ............................................................................................................................. 10
- Usefulness of VCA: ........................................................................................................................................... 10
- Issues of VCA: .................................................................................................................................................... 11
- linkages between activities ................................................................................................................................12
- How it is relevant to business strategy ..............................................................................................................14
- Process of implementing ................................................................................................................................... 15
- Support Systems ................................................................................................................................................ 17
- Role of Management Accounting in TC ............................................................................................................ 18
- concept of CPA ...................................................................................................................................................19
1
- CPA in managing profitability .......................................................................................................................... 20
- Implementation of CPA .....................................................................................................................................21
- TQM approach and its purpose ........................................................................................................................ 25
- Concept of ‘cost of quality’ ................................................................................................................................ 25
- Categories of CoQ ............................................................................................................................................. 25
- Monitoring the quality-profit linkage using value analysis, ABC and BSC ...................................................... 26
- how they arise ................................................................................................................................................... 27
- benefits to management ................................................................................................................................... 28
- explanation on model ....................................................................................................................................... 28
- four conditions for an effective control system ................................................................................................ 28
- Traditional budgeting practices .........................................................................................................................31
- Traditional budgeting practices Challenges ......................................................................................................31
- Not really good huh .......................................................................................................................................... 32
- Alternative budgeting approaches .................................................................................................................... 32
- control model and its main elements ............................................................................................................... 38
- rational and intended purposes of the model................................................................................................... 39
- the use of the respective elements .................................................................................................................... 40
- purposes and benefits ....................................................................................................................................... 42
- six categories of capitals for value creation ...................................................................................................... 44
- implications on the accounting profession ....................................................................................................... 46
- key features ....................................................................................................................................................... 46
- benefits of big data analytics ............................................................................................................................ 47
- implication on accounting profession .............................................................................................................. 49
3
, If management accounting is to play this role in strategic management, it must provide managers not only with
internal, financial information, but also with information, both financial and non-financial, about the
environment in which the firm is operating: strategic management accounting.
Varying information needs at different stages of the strategic decision-making process:
- Strategic problem identification stage
- Assessment of strategic alternatives
- Evaluation of strategic actions
Thus traditional management accounting information is insufficient for strategic decision-making
The Chartered Institute of Management Accountants (CIMA) defines strategic management accounting as “the
provision and analysis of management accounting data about a business and its competitors, for use in developing
and monitoring business strategy”.
Strategic management accounting (SMA) is the process of identifying, gathering, and analysing accounting data
for helping the management team to make strategic decisions and to assess organisational effectiveness.
4
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