Challenges in advanced management accounting: Online Course from OpenLearn

This free course, Challenges in advanced management accounting, focuses on strategic management accounting and selected concepts and techniques. It will help you to successfully navigate mid- to ...

Syllabus

- Introduction
- Learning outcomes
- 1 Strategic management accounting
- 1 Strategic management accounting
- 1.1 Defining strategic management accounting
- 1.2 Comparison of strategic and traditional management accounting
- 2 Strategic customer analysis
- 2 Strategic customer analysis
- 2.1 The customer selection decision
- 2.2 Determining customer profitability
- 2.2.1 Tracing of costs to customers
- 2.2.2 Applying Pareto analysis to customer profitability
- 3 Principles of project appraisal
- 3 Principles of project appraisal
- 3.1 Relevant cash flows and sunk costs
- 3.2 The time value of money, discounting and present value
- 3.3 Why does the value of money depend on time?
- 3.3.1 Underlying factors
- 3.3.2 Comparisons with other rates of return
- 3.4 Using the WACC as the discount rate for a project
- 3.5 Problems with using the WACC as the discount rate for a project
- 3.6 Using the CAPM to find a project-specific cost of equity
- 3.7 Problems with using the CAPM to find a project-specific cost of equity
- 3.7.1 Problems with using industry comparisons to estimate business risk and beta value
- 3.7.2 Problems with financial risk
- 3.7.3 Other problems with the CAPM calculation
- 3.8 Using a spreadsheet to model project evaluation
- 4 Dealing with risk and uncertainty in project appraisal
- 4 Dealing with risk and uncertainty in project appraisal
- 4.1 Risk and uncertainty
- 4.1.1 Attitudes towards risk
- 4.1.2 Attitudes towards uncertainty
- 4.2 Simple adjustments to deal with increased risk
- 4.2.1 Risk and the discount rate
- 4.2.2 Risk and the payback period
- 4.2.3 Risk and time delay
- 4.3 Using probability and future cash flows to deal with risk
- 4.3.1 Estimating future cash flows
- 4.3.2 Calculating probability-weighted cash flows instead of increasing the discount rate
- 4.3.3 Estimating probabilities for scenarios instead of increasing the discount rate
- 4.4 Modelling sensitivity analysis
- 4.5 The value of information
- 5 End-of-course exercises
- 5 End-of-course exercises
- Conclusion
- Glossary
- References
- Acknowledgements

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