Welcome to Strategic Management Accounting!

1.0 Course Description

Strategic Management Accounting course is designed to equip learners with the analytical knowledge, technical skills, and professional judgement needed to examine the management accountant's role in dynamic organisations operating in the global business environment. In this role, the management accountant engages with the organisation's management team and contributes to strategy development and implementation, helping create customer and shareholder value and a strong competitive position for the organisation.

1.1 Course Competences

•      Knowledge Competences: Comprehensive understanding of SMA concepts, tools, and frameworks  including ABC, life-cycle costing, target costing, performance measurement systems, budgeting, and risk management and how these connect to organisational strategy.

•      Practical Competences: Proficiency in applying strategic costing and budgeting techniques, designing performance measurement systems, preparing and analysing operational and financial budgets, and using variance analysis to support managerial decisions.

•      Cognitive Competences: Critical and analytical reasoning to evaluate stakeholder information needs, diagnose strategic and operational risks, and recommend management accounting responses appropriate to an organisation's competitive position.

•      Professional Competences: Professional judgement, ethical awareness, and stakeholder sensitivity in advising management teams, together with the collaborative and communication skills needed to present strategic financial analysis to non-specialist audiences.