ACCT 5133 Advanced Integration I Summer 2016 Instructor Ajay Pangarkar, CTDP, CPA, CMA E-mail ajayp@centralknowledge.com Office: Course Meets: TBD May 9-Jun12 Mon & Wed 09:05-11:55, Location: TBD Course Description Discussion, analysis and integration with an emphasis on the application of strategic management to various accounting and finance issues. Prerequisite(s): completion of a minimum of 2.0 credits in the Master of Accounting program with a minimum average grade of B-. Method of Instruction This course will involve a combination of interactive class sessions, lectures, independent practical case solving, and in-session case and problem-solving activities. Students will initially receive instruction on the problem-solving process and discover what is required to resolving a strategic/accounting case. Students will then have opportunities between in-class sessions to work on simulated cases and will receive feedback on their performance prior to the classes. Each in-class session will then provide a debriefing for the cases through a storyboarding process. This case resolution process, through instructor guidance, will permit students to experience how to effectively address areas to succeed on the case exam. During each session students will discuss and address the core competency requirements expected of becoming a CPA that also relate to the competencies addressed in the case exam. During the first third of the course students are expected to assimilate and to become
comfortable with the case solving process. As the course progresses, student will begin to resolve the cases under progressively increasing case conditions. By the end of the session, students will be resolving samples cases under exacting CPA exam conditions. To address the specific core competencies students will be presented with smaller case problems prior to the session and prepare to resolve and discuss it in class. Students may find it useful to work in small groups and to spend some time prior to class discussing the issues that are involved in the individual cases. During the last part of the term, class time will be devoted to resolving a case within the 4- hour parameter and then debriefing their solutions and conducting a self-analysis to improving personal performance. All students will be expected to analyze the case and participate in the discussion of the case. Learning Objectives Strategic thinking skills: Strategic thinking skills allow us to draw unique insights that enable organizations to overcome key challenges they face and seize opportunities to create value. These skills allow business professionals to address key questions facing every organization such as: What are our goals and aspirations? Where will we do business (e.g., customers, products, geographies)? How do we create value and capitalize on our chosen markets? What choices do we need to make, and what are the trade-offs? What should we do next? The development of a systematic way of thinking that allows you to establish recommendations to questions such as these that are based on facts is a key objective of this course. Structured problem solving skills: Structuring your analyses and developing a logical argument enables business professionals to balance rigor and efficiency in solving complex business scenarios. Frameworks decompose problems into a set of drivers or elements, efficiently guide the identification of key issues and potential recommendations, and aid in prioritizing actions. In this course, you will learn to approach problem solving and presentation building in a structured manner by using existing frameworks and learning how to develop your own. Structured financial evaluation skills: This course emphasizes the fundamental techniques of financial statement analysis. Building upon core accounting and investment concepts, the course covers the analysis (including ratio analysis) and interpretation of financial accounting information including the balance sheet, income statement, and statement of cash flows. The course also examines the use of accounting information in investment decisions as applied to
resolving a case problem. Course Requirements & Methods of Evaluation: Class Requirements Grade 2 Prepare a 500 word report applying steps to problem solving for 10% Livoria* 4 Submit Assess the Situation for the Board Report 15% 5 Write Case Report on Aqua Fish Canada Inc. (SecureExam) * 15% 6 Submit Analysis of the case for the Board Report 20% 9 Develop a draft strategy map for the BR Case 5% 11 Submit Implementation plan for the Board Report 20% 12 Board Report Presentation 15% 100% The items in bold represent the submissions related to the CPA Canada Capstone 1 Board Report. Items denoted with a * are individual deliverables. All other items are group deliverables. Drop Course Policy: The deadline for academic withdrawal is the last day of classes (each term). The grading scale used to calculate your final grade will be the one listed in the Carleton University Graduate Calendar: A+ 90-100 B+ 77 79 C+ 67 69 D+ 57 59 A 85 89 B 73 76 C 63 65 D 53 56 A- 80 84 B- 70 72 C- 60 62 D- 50 52 Development of Enabling Competencies One of the objectives of the M.Acc. is the development of the following enabling competencies and this course will develop these competencies as follows: Competencies 1. Professional and Ethical Behaviour Professional and Ethical Behaviour and Problem Solving and Decision Making 2. Problem Solving and Decision Making will be developed on a weekly basis through the discussion and analysis of case studies. 3. Communication (written and oral) Communication will be assessed through your in-class participation, written assignments and the term project report
and in-class presentation. 4. Self-Management Self-Management will be assessed by inclass participation and will reflect on your ability to keep up with the course materials on an on-going basis. 5. Teamwork and Leadership Teamwork and leadership will be assessed through the group project. Topical Outline Class Date Topic Class 1 1 May 9 Introduction and Orientation Leveraging your team (team dynamics) Approaching the decision making process systematically Reviewing the primary assessment tools Applying basic presentation concepts Readings Review SWOT, Porter s 5 Forces, and PESTEL CPA Way (1 to 7) Getting Briefed on the CPA Way (1 to 7) https://www.cpacanada.ca/en/become-a-cpa/pathways-tobecoming-a-cpa/national-education-resources/the-cpa-way Prepare a 250 word report on effective presentations Submit the team agreement Pre-read case: Sun Valley Fruit Snacks 10% Class 2 (Individual) 2 May 11 Assessing the Current Situation Evaluating the current business context Analyzing the mission/vision Defining stakeholder objectives and preferences Identifying organizational targets and constraints Conducting a financial analysis Identifying KSF, KRFs, and CAs Defining the business issues Readings Review The CPA Way https://www.cpacanada.ca/en/become-a-cpa/pathways-tobecoming-a-cpa/national-education-resources/the-cpa-way Prepare a report applying the steps to problem solving for Livoria that: Assesses their current situation Conducts a financial analysis Identifies the primary business issues Identifies the options available to the partners
Class Date Topic 3 May 16 Quantitative/Qualitative Analysis Knowing the Value of Your Financial Toolbox Quantitative analysis Analyzing the current situation (interpretation) Evaluating available options Assessing financial capacity Forecasting expectations Qualitative: What Do We Do With This Info? Drawing out relevant conclusions Financial comparative assessment (new world) Correlating to qualitative aspects Readings Review ratio analysis, trend/benchmarking, capital budgeting, contribution margin, etc. Class 3 Bring draft analysis for the current BR case 4 May 18 Defining Strategic Concepts Applying the strategy perspectives to case and business applications What is Strategy Value Disciplines Core Competence Value innovation Readings What is Strategy, Michael Porter, Harvard Business Review, Nov-Dec 1996* Customer Intimacy and Other Value Disciplines, Michael Tracey and Fred Wiersema, Harvard Business Review, Jan-Feb 1993* The Core Competence of the Corporation, C.K. Prahalad, 15% Class 4 Gary Hamel, Harvard Business Review, May-June 1990* Submit Assess the Situation for the Board Report
Class Date Topic 5 May 25 Evaluating and Managing Risk Why is assessing risk important? Board requirements/liability Fiduciary responsibility Stress test recommendations Applying risk assessment tools Variance analysis Sensitivity analysis Trend analysis Readings How Risky is Your Company, Robert Simons, Harvard Business Review, May-June 1999* The Reporting of Organizational Risks for Internal and External Decision Making Identifying, Measuring, and Managing Organizational 10% Class 5 (Individual) Risks for Improved Performance Write Case Report on Aqua Fish Canada Inc. (SecureExam) 6 June 6 Internal Control and Ethics What is ethics? A framework for Ethical Decision making Corporate governance and role of internal control Compliance Readings Corporate Governance: The Role of Internal Control (MAG) Measuring and Improving the Performance of Corporate Boards (MAG) Control in the Age of Empowerment. Robert Simons, Harvard Business Review, Mar-Apr 1995* Responsible Hands, Anthony Atkinson, CMA Management, Nov 2004* How (Un)Ethical Are You?, Mahzarin Banaji, Max Bazerman, Colly Chugh, Harvard Business Review, Dec 20% Class 6 2003* Submit Analysis of the case for the Board Report Pre-read Ethical Dilemma at Northlake
Class Date Topic 7 June 8 Managing Change Activity based management Principles of change management Organizational structures Readings Managing the Human Aspects of Organizational Change Process Based Costing: the Best of Activity Based Costing; Sievanen, Matti; AACE International Transactions* Class 7 Extract the change effort for the BR case Bring the organizational chart for the BR case Universal Cable Company 8 June 13 Recommendations and Implementation Plan Making and ranking recommendations Operationalizing the strategy Setting up the action plan Readings Class 8 Developing an Implementation Plan (CPA) Prepare to address the issues in the BR case 9 June 20 Managing and Measuring Performance Balanced scorecard Value chain analysis Performance measurement non profit Strategic pro forma statements Readings Using Strategy Map to Drive Performance Applying the Balanced Scorecard Having Trouble with Your Strategy? Then Map it., Robert Kaplan, David Norton, Harvard Business Review, Sep-Oct 2000* On the Folly of Rewarding an A, while Hoping for a B; Kerr, Steven, Academy of Management Executive, Feb 5% 20% Class 9 1995 Develop a draft strategy map for the BR Case Submit Implementation plan for the Board Report
Class Date Topic 10 June 27 Developing Pro Forma Statements Why prepare pro forma statements for recommendations Stress-testing the financial projections Identifying financial warnings or alternatives Extracting possible concerns of business leaders Communicating key performance improvement outcomes Readings Class 10 Research and read the purpose for pro formas Bring BR pro formas to debrief 11 June 29 Presentation Skills to Business Leaders Plan a strategic message and clarify objectives for executive-level presentations Develop content focusing on senior executives need and isolating the critical messages from supporting detail Manage difficult Q&A sessions and maintaining composure Design clear/effective visuals to support the message Word choice to project confidence and deliver credible messages 20% 10% Readings Class 11 None Submit completed Board Report Bring draft PowerPoint presentation 12 July 5 Presenting to the Board Be prepared to present your report to the BR Board Class 12 Prepare required handouts for the mock board
Course Sharing Websites Student or professor materials created for this course (including presentations and posted notes, labs, case studies, assignments and exams) remain the intellectual property of the author(s). They are intended for personal use and may not be reproduced or redistributed without prior written consent of the author(s). Policy on Mobile Devices The use of mobile devices IS NOT PERMITTED in this class. It is disruptive to the instructor and class members. If you carry such a device to class, please make sure it is turned off. If an emergency situation requires you to keep it turned on, please discuss this with your instructor prior to class. Group Work The Sprott School of Business encourages group assignments in the school for several reasons. They provide you with opportunities to develop and enhance interpersonal, communication, leadership, followership and other group skills. Group assignments are also good for learning integrative skills for putting together a complex task. Your instructor may assign one or more group tasks/assignments/projects in this course. Before embarking on a specific problem as a group, it is your responsibility to ensure that the problem is meant to be a group assignment and not an individual one. Person with Disabilities Students with disabilities requiring academic accommodations in this course are encouraged to contact a co-ordinator at the Paul Menton Centre for Students with Disabilities to complete the necessary letters of accommodation. After registering with the PMC, make an appointment to meet and discuss your needs with me at least two weeks prior to the first in-class test or ITV midterm exam. This is necessary in order to ensure sufficient time to make the necessary arrangements. Please refer to http://www.carleton.ca/pmc/ for all PMC information. Religious Observance Students requesting academic accommodation on the basis of religious observance should make a formal, written request to their instructors for alternate dates and/or means of satisfying academic requirements. Such requests should be made during the first two weeks of class, or as soon as possible after the need for accommodation is known to exist, but no later than two weeks before the compulsory academic event. Accommodation is to be worked out directly and on an individual basis between the student and the instructor(s) involved. Instructors will make accommodations in a way that avoids academic disadvantage to the student. Students or instructors who have questions or want to confirm accommodation eligibility of a religious event or practice may refer to the Equity Services website for a list of holy days and Carleton s Academic Accommodation policies, or may contact an Equity Services Advisor in the Equity Services Department for assistance.
Pregnancy Pregnant students requiring academic accommodations are encouraged to contact an Equity Advisor in Equity Services to complete a letter of accommodation. The student must then make an appointment to discuss her needs with the instructor at least two weeks prior to the first academic event in which it is anticipated the accommodation will be required. Academic Integrity Violations of academic integrity are a serious academic offence. Violations of academic integrity presenting another s ideas, arguments, words or images as your own, using unauthorized material, misrepresentation, fabricating or misrepresenting research data, unauthorized cooperation or collaboration or completing work for another student weaken the quality of the degree and will not be tolerated. Penalties may include expulsion; suspension from all studies at Carleton; suspension from full-time studies; a refusal of permission to continue or to register in a specific degree program; academic probation; and a grade of Failure in the course, amongst others. Students are expected to familiarize themselves with and follow the Carleton University Student Academic Integrity Policy which is available, along with resources for compliance at: http://www2.carleton.ca/sasc/advisingcentre/academic-integrity/.