ACC311 Strategic Management Accounting SUSS Assignment Help Singapore
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ACC311 Strategic management Accounting: Course Brief
The strategic management accounting provides the financial information that needs to be reported and discussed by the senior management of the organization.
This is done in order to take effective decision for the future development of the organization.
The strategic management Accounting model can be divided into 3 levels:
Stakeholders, Strategic Framework and Financial Statements.
1.Stakeholders: It’s the people of concern and key persons to receive the benefits of the firm’s operations. Key people operating on behalf of a firm should see its connection with its stakeholders.
- Internal stakeholders – Senior management.
- External stakeholders – Customers, Shareholders, Media, Government Solicitors etc..
2. Strategic Framework: This framework identifies organizational units as well as their critical capabilities, comparing and questioning their relative importance.
3. Financial statements: The purpose of financial statements being prepared and read by the key people in organization is to set strategic planning target, measuring the performance including the efficiency, cost effectiveness and balanced financial position.
Objectives Of Strategic Management Accounting
- Provides a picture of the performance and financial position of the organization.
- Provides information on market share, product costs, research and development costs, as well as income statement as a part of its financial report.
- Provides information on asset value and liabilities as a part of its financial report.
Possible learning outcomes for AC311 Strategic Management Accounting Assignment
With the help of our assignment writers you will be able to learn about the following topics:
- Discuss reasons behind the varying degrees to which organisations choose to decentralize versus centralize, and explain the impact of these choices on management control systems.
- Examine how responsibility accounting can be used to encourage goal congruence in decentralized organisations.
- Assess the effectiveness of using financial performance measures to motivate managers to make decisions in line with organisational strategy.
- Critique the use of other (nonfinancial) performance measures to evaluate and reward performance.
- Appraise organisational performance on the counts of sustainability and corporate social responsibility, and explain why keeping track of performance measures can be critical to an organisations’ sustainability.
- Recommend suitable performance evaluation and compensation plan designs based on the understanding of an organisation’s strategy and structure.
- Evaluate choices in transfer pricing policy and the behavioural implications of these choices, within the context of organisational strategy and structure.
- Analyze the role of management accounting information and the design of management accounting information systems in facilitation of strategic management.
- Develop the essential knowledge and interpersonal skills to work effectively in a team.
- Demonstrate proficiency in written and verbal communication skills.
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ACC311 Strategic Management accounting is a huge term to explore and has a much broader scope than just the word plan.
It is an exact process of planning different processes, monitoring that procedure, and then analyzing the present condition or status of a corporation to meet its existing goal and objectives.
In short, strategic management is the steps taken to make a business achieve its objective.
This lets the universities comprise strategic management accounting into their courses so that the scholars can have a brief idea regarding the subject.
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