ACC544 Decision Support Tools (8)
CSU Discipline Area: Accounting (ACCOU)
Duration: One session
Abstract:
This subject focuses on the application of quantitative management tools to data analysis in order to assist management decision makers in organisations. It introduces relevant statistical, operations research and operations management techniques which can be used to enhance the ability of managers to make informed decisions. Use is made of computer software designed to support the decision making function.
+ Subject Availability Modes and Locations
| Session 1 | |
|---|---|
| Distance * | Wagga Wagga |
*This subject offering contains a residential school. Please view following information for further details.
Continuing students should consult the SAL for current offering details: ACC544
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Enrolment restrictions:
Postgraduate students only. Not available to students who have completed ACC513 .
Objectives:
Upon successful completion of this subject, students should:
- be able to demonstrate problem-solving skills in assessing, organising, summarising and interpreting relevant data for decision making purposes;
- be able to apply decision theory to business situations;
- be able to explain the use of simulation in complex decisions;
- be able to apply probability concepts to decision making;
- be able to demonstrate understanding of the application of statistical hypothesis testing to decisions, with particular emphasis on quality control and interpreting the significance of regression coefficients in cost estimation;
- be able to use accepted time-series forecasting methods;
- be able to apply cost-volume-profit analysis and linear programming to product mix decisions;
- be able to solve scheduling problems.
Syllabus:
The subject will cover the following topics:
- Probability concepts and distributions
- Statistical decision making and quality control
- Decision analysis uncertainty and risk
- Value of information via Bayes’ Theorem in improving decisions
- Simulation for solving complex problems
- Correlation and regression analysis (emphasis on accounting data)
- Forecasting techniques
- Product mix decisions using cost-volume profit and linear programming techniques
- Inventory control using EOQ and JIT approaches
- Project management using network analysis.
Residential School
This subject contains a compulsory 3 day residential school.
The primary objectives of the residential school are: to provide an interactive face to face learning environment, to answer student questions about the subject and to assist students to focus their studies for the remainder of the session. Staff at the residential school will review the subject material covered up to that date and outline the remaining topics. Subject readings will be discussed and placed in context.
The information contained in the 2013 CSU Handbook was accurate at the date of publication: 24 April 2013. The University reserves the right to vary the information at any time without notice.