Week 8 Reflection

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WMBA 6050: Accounting for Management Decisions

Course Alignment Chart University Learning Outcomes

I. Facilitate positive social change where they work, in their communities, and in society.

II. Use their knowledge to positively impact their profession, communities, and in society.

III. Demonstrate a commitment to lifelong learning. IV. Apply their learning to specific problems and challenges in their workplace and

professional settings. V. Demonstrate information literacy.* *Information literacy is defined as the ability to

know when there is a need for information, and being able to identify, locate, evaluate, and effectively use that information for the issue or problem at hand.

VI. Demonstrate an understanding of the methods of inquiry used in their professional or academic field.

VII. Practice legal and ethical integrity in their professional work. VIII. Effectively communicate their ideas and the rationale behind them to others.

IX. Support diversity and multiculturalism within their profession, communities, and society.

Program Learning Outcomes

1. Evaluate the environment in which businesses operate with awareness of complexities, interdependencies, risks, consequences, and diverse stakeholder perspectives

2. Make decisions within a business context that are effective, well-reasoned, ethical, and social responsible

3. Formulate statements of business problems or opportunities to facilitate insightful dialogue and critical thinking

4. Generate solutions to complex business problems or opportunities through critical, creative, and systems thinking and applying appropriate theories, concepts, tools, skills, practices and research

5. Employ business-appropriate communication skills that enable effective exchange or transfer of information, promote mutual respect, encourage healthy

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discourse, and display an acute awareness of the needs of the intended audience

6. Demonstrate the ability to work with others to meet goals in diverse and complex business environments

7. Evaluate opportunities for business stakeholders, including oneself, to contribute to positive social change locally and globally

Course Learning Outcomes

1. Evaluate various accounting measures and their relevance to a wide range of stakeholders

2. Analyze various types of budgets, strategic planning, and forecasting 3. Employ managerial accounting approaches and information to make effective

decisions 4. Demonstrate effective communication skills to present accounting information to

stakeholders 5. Assess managerial accounting tools and their usefulness to organizational

leaders 6. Apply accounting principles ethically and appropriately to personal and

professional contexts

Weekly Objectives Alignment Chart Week 1: What is Accounting All About?

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

Determine how managers ensure accurate financial data

D 1 1, 4, 6, 7

Apply corrective steps managers may take related to unethical behavior

D 3, 6 2, 3, 4, 6, 7

Analyze the differences between financial and managerial accounting

SP 1 1, 4, 6, 7

Analyze annual reports Q 1, 4 1, 4, 5, 6, 7

Week 2: Are Budgets Really Important?

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

Analyze the influence of financial and managerial accounting on decision making

SP1 1, 3, 5, 6 1, 2, 3, 4, 6, 7

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Week 2: Are Budgets Really Important?

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

Evaluate forecasts, strategic plans, and budgets on organizations

SP2 2, 3, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Analyze stakeholder involvement in budgeting processes

SP2 3, 4, 5 2, 3, 4, 5, 6

Prepare performance reports A 1, 2, 3, 6 1, 2, 4, 5, 6, 7

Analyze performance report results

A 2, 4 1, 5

Evaluate variances A 1, 2, 4, 6 1, 2, 3, 4, 5, 6, 7

Week 3: Should We or Shouldn’t We? How Capital Budgeting Can Help Make that Decision!

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

Evaluate alternatives to discounted cash flows

SP 1, 2, 3, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Analyze performance measurement methods

D 1, 2, 3, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Compute accounting rate of return, payback, net present value, and internal rate of return

A 1, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Evaluate the feasibility of potential organizational ventures

A 2, 3, 4 1, 2, 4, 5, 6

Week 4: Who is Responsible? Transfer Pricing Decisions and Performance Evaluation

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s) )

Evaluate cost center accounting practices in different countries

SP 1, 5, 6 1, 2, 3, 4, 6, 7

Analyze differences between cost, profit, and investment centers

SP 1, 3, 4 1, 2, 4, 5, 6, 7

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Week 4: Who is Responsible? Transfer Pricing Decisions and Performance Evaluation

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s) )

Analyze methods of performance evaluation of cost, profit, and investment centers

SP 1, 3 1, 2, 4, 6, 7

Analyze transfer pricing decisions on cash flow

A 3 2, 4, 6

Generate recommendations for transfer pricing

A 3, 4 2, 4, 5, 6

Week 5: Standard Costs, Actual Costs, Variances, Oh My! How Do They Help Me Make Decisions?

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

Analyze standard costing in terms of improving efficiency

SP 1, 3, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Analyze material and labor variances

A 1, 3, 4, 6 1, 2, 3, 4, 5, 6, 7

Evaluate alternatives based on information provided by variances

A 1, 3, 4, 6 1, 2, 3, 4, 5, 6, 7

Week 6: More Costs and Break-Even Analysis, Oh My Again! Will These Help Me Make Good Decisions?

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

Analyze sunk costs, opportunity costs, and accounting costs impact on organizational decisions

SP 1, 3, 5, 6 1, 2, 3, 4, 6, 7

Analyze the impact of cost decisions on stakeholder agendas

SP 1, 3, 4, 6 1, 2, 3, 4, 5, 6, 7

Apply appropriate accounting processes to determine break- even points

A 3, 5, 6 2, 3, 4, 6, 7

Evaluate break-even points A 3, 6 2, 3, 4, 6, 7

Utilize break-even point assessment for decision

A 1, 3, 4, 6 1, 2, 3, 4, 5, 6, 7

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Week 6: More Costs and Break-Even Analysis, Oh My Again! Will These Help Me Make Good Decisions?

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

making

Week 7: Will the Balanced Scorecard Help Me Make Better Organizational Decisions?

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

Analyze strategic alliance used by organizations

SP 2, 3, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Analyze value opportunities used by organizations

SP 2, 3, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Analyze the implementation of the balanced scorecard

A 2, 3, 4 1, 2, 4, 5, 6

Evaluate the impact of the balanced scorecard on financial performance

A 3, 4, 5 2, 3, 4, 5, 6

Week 8: But Wait! Is There More?

Met In (D#/A# /Other)

Course Outcome(s)

Program Outcome(s)

Evaluate organizational performance in terms of the Triple Bottom Line

SP 1, 3, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Analyze the relationship between profit and social responsibility

SP 1, 2, 3, 4, 5, 6 1, 2, 3, 4, 5, 6, 7

Apply accounting skills to promote social change

SP 6 2, 3, 4, 7

Create action plan for professional and personal development

BPPG 5, 6 2, 3, 4, 7

Legend: D = Discussion A = Application SP = Shared Practice BPPG = Blueprint for Professional and Personal Growth Q = Quiz