Accountancy Module

ACCT 401: Strategic Management Accounting

 
Official Description on Oasis   Professors

This course aims at providing students with an in-depth understanding of topical issues in Management accounting in an organisational setting. An important function of management is to motivate and empower employees while not losing track of the business. This course will examine the use of different management control systems in both the manufacturing and service industries.

 

Prof Huang Soo Chiat
Pre-requisite
Management Accounting
Importance Project

As Prof Huang would put it, this course is somewhat like a capstone course since it requires you to have some degree of knowledge about everything from accounting to strategy to HR people management. Some people might find an overlap between this course and the Strategy course, but it is imperative that they understand the distinction. In Strategy, the planning of the action to achieve the goal is taught. Here in Strategic Management Accounting, it is about how management accountants can obtain and present the information for management to make future decisions and evaluate past performances, so as to realize the company’s strategy. However, many students do not appreciate that information arrives at a huge cost to company and performance evaluation are often tougher to implement than simply throwing in suggestions in classroom. This course might therefore be viewed as “fluffy” to some students now, but perhaps the importance of this course can only be fully appreciated when students are in a management role in the future.

 

 

Difficulty Level Technical Difficulty

A survey was done in May 2011 on the level of difficulty for the various accountancy modules. Rating was done on a scale of 1 to 5 [1:very easy and 5: OMG!].

Generally, you can consider a rating of < 3 to be manageable and relatively easy. A rating of 3 to 3.5 can be considered challenging yet manageable. A rating of > 4 will probably give rise to horror stories.

For comparison, go to modules difficulty.

Average: 3.34/5
Project Difficulty
Average: 3.91/5
Interesting Facts Advice and Studying Tips from Seniors
  • Your TA for the course is not a current student in SMU, but from one of the pioneer batches.
  • Your project presentation actually has a panel of judges formed by prof and 2 alumni. It almost feels like American Idol with 3 Simon Cowell because they don’t always say the nicest things. Work on their criticisms to improve your project.
  • If your group is lost and you have no clue what you are doing for your project around midterms, it is still “normal”. But find your direction fast.
  • If you have no idea what you are writing for your midterm individual paper, it is a common phenomenon too.
  • A class rep will be appointed for each class. One of his/her role is to write your name down as “late” the moment the clock reads 08:31/12:01/15:31. You now start off your class knowing your class part grade is discounted.
  • You will be told your class part grades during midterm, so you have a chance to salvage it.
  • This is one of the two courses in SOA where you have to read accounting journals, but the hardest article to read in this course is easier than the easiest article in AT.
  • Interesting stories about ISA knocking on prof’s door, tasty goose livers and others keep you awake in class.

Class participation is very important, do speak up often.

Always consult the prof so as to know his expectations towards class part, project and exams. Failing to meet his expectations can be disastrous.

Keep an open mind and understand the topics learnt.

Do all the readings and it'll be good if you or your group members have a network of contacts as it will make the search for a project client way, way easier.


Helped significantly by good understanding of strategy

Very interesting readings, but requires you to actually read them. Challenging, but Prof Hwang is a good chap and appreciates a good argument/joke. Enjoy the class, though it may be hard to enjoy the project. Project wise, make damn sure you really know what you're talking about, if not, he'll see it. He's perspicaceous like that.

It's not technically challenging. It's more like a combination of LTB, MPW and BP.

Your MA and Strategy knowledge will come in handy.

Speak up in class.

QUALITY is more important than quantity for class part. True story.

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