Course Overview: The Big Picture
This section provides a high-level summary of ACC 684. It's designed to give you a foundational understanding of what the course covers, its main objectives, and how its core components fit together. Think of this as the map for our journey into strategic cost management.
What is this course about?
At its core, ACC 684 is about using cost information not just for record-keeping, but as a strategic weapon. It moves beyond traditional accounting to focus on measuring, analyzing, and reporting data to guide an organization's long-term strategy. The course integrates modern tools like data analytics and ERP systems to show how technology shapes modern cost management and decision-making.
Key Learning Objectives:
- Apply ethical standards in management accounting.
- Use strategic cost concepts and frameworks.
- Leverage data analytics for financial insights.
- Develop and interpret a balanced scorecard.
- Solve problems to improve organizational efficiency.
Grading Breakdown
Understanding how you'll be evaluated is key to success. This section visually breaks down the weight of each component of your final grade. The course places equal emphasis on exams and practical application through homework, with participation ensuring active engagement.
Components of Your Grade:
-
30%
Midterm ExamCovers the foundational concepts from the first half of the course (Chs. 1-6).
-
30%
Final ExamFocuses on the second half, including budgeting, variance analysis, and data analytics.
-
30%
HomeworkAssignments that apply theoretical concepts to practical problems.
-
10%
ParticipationActive and meaningful contributions to class discussions.
🗓️ Course Schedule: A Weekly Deep Dive
This isn't just a schedule; it's your weekly guide to mastering Strategic Cost Management. Each week, you'll find a breakdown of the topic, key insights using the 80/20 principle, actionable steps, and a strategic analysis. Use this to prepare for classes and connect concepts to the real world. Click each week to expand.
Core Concepts: The 80/20 Rule
To truly master this subject, focus on the fundamentals. This section highlights the 20% of core insights from the course that will give you 80% of the essential knowledge. Understanding these three pillars—The Balanced Scorecard, Data Analytics, and Ethical Conduct—will provide a powerful foundation for everything else you learn.
The Balanced Scorecard
A framework to translate strategy into operational objectives that drive behavior and performance.
Financial Perspective: How do we look to shareholders? (e.g., profitability, revenue growth)
Customer Perspective: How do customers see us? (e.g., satisfaction, market share)
Internal Business Perspective: What must we excel at? (e.g., efficiency, quality)
Learning & Growth Perspective: How can we continue to improve? (e.g., employee skills, technology)
Data Analytics & ERP
Using technology to interpret complex data and drive strategic recommendations.
This isn't just about crunching numbers. It's about finding patterns, predicting trends, and turning raw data into actionable intelligence. Enterprise Resource Planning (ERP) systems are the backbone, integrating all of this data into one place.
Ethical Conduct (IMA)
The moral compass for management accountants, ensuring integrity and trust.
The Institute of Management Accountants (IMA) sets the standards. Key principles include competence, confidentiality, integrity, and credibility. Ethical dilemmas are a real part of the job; this provides the framework to navigate them.
Applying Strategic Analysis Tools
The concepts in ACC 684 don't exist in a vacuum. They are powerful tools for analyzing the business landscape. This section demonstrates how to apply classic strategic frameworks—like Porter's Five Forces and Blue Ocean Strategy—using the lens of strategic cost management. Click on each element to explore its relevance.
Porter's Five Forces Analysis
Blue Ocean Strategy: Finding Uncontested Space
A "Blue Ocean" is an untapped market space, free of competition. Strategic Cost Management is key to creating one. How? By simultaneously pursuing differentiation and low cost.
Eliminate & Reduce
Use activity-based costing to identify and cut factors the industry competes on but that don't add value for customers.
Raise & Create
Invest savings into creating new sources of value that the industry has never offered, making competitors irrelevant.
Your Action Plan: The Eisenhower Matrix
Knowledge is only powerful when applied. This section provides an actionable framework to manage your tasks and maximize your learning from this course. The Eisenhower Matrix helps you prioritize based on urgency and importance. Use it to organize your study habits and career development activities.
Do First
(Urgent & Important)
- Completing weekly assignments
- Preparing for upcoming exams
- Clarifying confusing concepts with Prof. Lee
Schedule
(Not Urgent & Important)
- Applying course concepts to case studies
- Networking with accounting professionals
- Updating your resume with new skills
Delegate
(Urgent & Not Important)
- Scheduling group project meetings (use a tool)
- Routine administrative tasks
- Finding study group resources (share the load)
Eliminate
(Not Urgent & Not Important)
- Excessive social media during study time
- Unproductive meetings or study sessions
- Worrying about topics far in the future
Final Knowledge Check
Test your understanding of the core concepts from ACC 684. This short quiz will help you identify areas where you're confident and where you might need a quick review. Select the best answer for each question and see how you do!