Business Decision Making (11009.2)

Many university graduates aim to become managers, either of their own business, or as part of the management team of other entities. A critical attribute of management is the ability to incorporate financial and non-financial data in a range of decisions, such as pricing products, setting budgets, and evaluating performance.

However, the majority of these people have not studied accounting and information systems. This unit aims to address this gap by showing students how to identify, obtain, manipulate and analyse data in order to make informed business decisions.

Learning outcomes

Upon successful completion of this unit, students will be able to:
1. Apply cost classifications and cost behaviour to a range of decisions, including budgeting;
2. Interpret the impact a range of transactions and events will have on financial reports;
3. Develop spreadsheet models to support simple decision making in a variety of contexts;
4. Apply a systems approach to facilitate decision making;
5. Apply cost-benefit analysis concepts to various business decision making contexts; and
6. Demonstrate how a range of psychological factors influence decision makers.

Graduate attributes

1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - communicate effectively
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
2. UC graduates are global citizens - make creative use of technology in their learning and professional lives
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - evaluate and adopt new technology

Prerequisites

None.

Corequisites

None.

Incompatible units

None.

Equivalent units

5617 Accounting for Managers

Assumed knowledge

None.