100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Exam notes for BUSI3162 AMA £2.45
Add to cart

Exam (elaborations)

Exam notes for BUSI3162 AMA

 21 views  1 purchase

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.

Preview 4 out of 51  pages

  • June 30, 2021
  • 51
  • 2020/2021
  • Exam (elaborations)
  • Questions & answers
book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:
All documents for this subject (1)
avatar-seller
nessasynyee
BUSI3162 – Advanced Management Accounting


- 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

- ABC .................................................................................................................................................................... 11



- Determining priorities ....................................................................................................................................... 11

- linkages between activities ................................................................................................................................12

- value-adding / non-value-adding ......................................................................................................................12




- Introduction.......................................................................................................................................................13

- Benefits ..............................................................................................................................................................14

- How it is relevant to business strategy ..............................................................................................................14

- Process of implementing ................................................................................................................................... 15

- Challenges ..........................................................................................................................................................16

- Support Systems ................................................................................................................................................ 17

- Role of Management Accounting in TC ............................................................................................................ 18




- concept of CPA ...................................................................................................................................................19
1

,- Usefulness ..........................................................................................................................................................19

- CPA in managing profitability .......................................................................................................................... 20

- Implementation of CPA .....................................................................................................................................21

- Concerns ........................................................................................................................................................... 24




- 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




- concept .............................................................................................................................................................. 27

- 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

- Challenges overcome ........................................................................................................................................ 33

- Better huh ......................................................................................................................................................... 35




- control model and its main elements ............................................................................................................... 38

- rational and intended purposes of the model................................................................................................... 39

- the use of the respective elements .................................................................................................................... 40




2

,- Survey ............................................................................................................................................................... 40

- framework..........................................................................................................................................................41

- purposes and benefits ....................................................................................................................................... 42

- six categories of capitals for value creation ...................................................................................................... 44

- KPIs................................................................................................................................................................... 45

- 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

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller nessasynyee. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £2.45. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

53022 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£2.45  1x  sold
  • (0)
Add to cart
Added