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PACE Academic IG

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Starting to prep for fall term. Recent conversations in the forum made we wonder about, if you are limited to one upper-division course, what topics would you include in the course, whether it's called Cost Accounting; Intermediate Managerial Accounting, or something else.

Gary Cokins
Gary Cokins
3 days ago

JP ... On June 29 I provided this comment that is below. I repeat it here: "JP ... I like what you have written and agree with you. I have a different angle on management accounting. Regardless on how it is defined, I believe that management accounting does not necessarily provide answers.


What it does is generate questions (e.g., from its visibility and transparency to provide insights). Many are needed questions (e.g., Why is our customer with the highest sales volume unprofitable?) This initiates the actions to address problems that may have been suspected, but management accounting provides the facts,"

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Recent posts from PACE have focused on Revenue Management. Where do you feel that it would be best to fit the concept of revenue management in a traditional Cost Accounting or Management Accounting class?

Gary Cokins

Cost accounting typically includes at least a small section on pricing (usually cost-based, etc.). But I think we need to rethink the management accounting curriculum to more broadly address business needs!

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More stream of consciousness....


Of course, the PA Framework is central to what we do here at PACE. The framework is a significant step forward for the discipline, I believe, but it does have substantial room to be fleshed out more fully, as any such framework does. One area I think could use more development is around behavioral response/judgment and decision making. This is a major branch in accounting academia, there's even a AAA journal devoted to "Behavioral Research in Accounting". How do the heuristics we use affect the way information users interact with the dimensions of the PA Framework? Looking forward to exploring the area.


What are some gaps you are interested to explore?


JP

Stream of consciousness thread...


As we move past Profits+ 2024, I find myself thinking about what exactly defines management accounting/corporate finance. Who are we as a discipline? Yes, we are about supporting decision making inside the organization, but is that enough to demark a discipline? How does this collection of myriad and disparate tools come together to define something distinct?


I keep coming back to the DuPont model (which needs to be put back into CMA testing) and breaking down the components. Understanding each component to the point we can model how resources are generated and consumed to make confident predictions and understand risk impacting the firms ROI seems to be in the ballpark.


I will admit, from my background I probably lean toward what today we call Financial Planning and Analysis; although, I'm more of a "lumper" than a "cracker" (borrowing from biological sciences a bit, but probably messed…


Gary Cokins
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JP ... I like what you have written and agree with you. I have a different angle on management accounting. Regardless on how it is defined, I believe that management accounting does not necessarily provide answers.


What it does is generate questions (e.g., from its visibility and transparency to provide insights). Many are needed questions (e.g., Why is our customer with the highest sales volume unprofitable?) This initiates the actions to address problems that may have been suspected, but management accounting provides the facts,

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