Dr Lanita Winata
Career in accounting
Public Accountant
Management Accountant
Accountant in government or education sector
• Prepare financial statement
• Analyse financial report
• Internal auditing
• Give recommendations for decision
making
Working in a company
Accountant who work as an
academic
Working at government
institution
6+ years
4 to 6 years
2 to 4+ years
Entry level
Partner
Public
accountant
Audit
Manager
Senior
Auditor
Junior
Auditor
2018 ANNUAL SALARY SURVEY
Indonesia
1. Financial accountant: 1.6 – 2.5 billion Rupiah ( App AU$ 160,000 –250,000)
2. Marketing director ( AU$ 130,000 – $ 150,000
3. IT director ( AU $ 85,000 – 150,000)
Expected Employment GrowthAccording to the BLS, demand foraccountants and auditors will increase by13% between 2012 and 2022(www.bls.gov). When compared to theprojected growth for all otheroccupations, this rate for this field isabout as fast as the average. As of 2014,there were an estimated 1,187,310individuals employed in this field, andthis number is expected to grow by166,700 by the year 2022.
Financial accounting
Cost accounting
Management accounting
Financial report
Product cost
Accounting techniques
Strategy theory
Use of MAS information
Sustainability and
environmental accounting
Decision making
Accounting techniques
Dr Lanita Winata
1. Wrong design of performance management framework: Conflicting between individual and company ‘s goalsPerformance measurement metrics are not linked
with reward systemPoor performance reportingDoes not include all stakeholders
2. Incorrect use of performance management system
3. Lack of human resource support4. Lack of communication
vision Mission
Strategy
Goals/ objectives
Planning
Control
Performance evaluation
Reward
Revising
Business environment
Performance
•INFORMATION
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Vision, Mission, Goals, Objectives and Strategy
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The vision statement describes what the organisation wants to achieve in the future.
Its prime function is internal – to define the key measure or measures of the organization's success – and its prime audience is the leadership team and stockholders.
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The mission statement provides a short, written description of the organisation’s overall purpose,
The mission statement communicates boththe purpose and values of the organization.For employees, it gives direction about howthey are expected to behave and inspiresthem to give their best. Shared withcustomers, it shapes customers'understanding of why they should work withthe organization.
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The VISION of Farm Fresh Produce is:
"To become the number one produce store in Main Street by selling the highest quality, freshest farm produce, from farm to customer in under 24 hours on 75% of our range and with 98% customer satisfaction
Using the example VISION developed for Farm Fresh Produce, the owner examines what she, her customers and her employees value about her mission. The four most important things she identifies are: freshness, healthiness, tastiness and "local-ness" of the produce. Here'sthe MISSION Statement she creates and shares with
employees, customers and farmers alike:"We help the families of Main Town live happier and healthier lives by providing the freshest, tastiest and most nutritious local produce: From local farms to your table in under 24 hours”.
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Strategy is the art of working out how you'll "win" in business and in life.
Strategy is the process by which organisational managers, using a time horizon of three to five years, evaluate external environmental opportunities and also internal strengths and resources to decide on goals, as well as a set of action plans to accomplish these goals in order to achieve its vision eventually.
What makes you stand out from the crowd?
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BUSINESS ENVIRONMENT
INTERNAL EXTERNAL
STABLE/CERTAIN/ predictable
UNSTABLE/UNCERTAIN/ unpredictable
•Economy•Political situation•Technology•Competitor•Customer•Globalization
•Leadership•Management•Capacity•Infrastructure•Organizational culture•Human resources •Capital
What is the best strategy ?
21
•An organisation’s strategy can be classified into three categories
•Strategic (competitive) positioning (Porter, 1980)
•Strategic typology (Miles and Snow, 1978)
•Strategic mission ( Gupta & Govindaranjan 1984)
STRATEGY THEORIES
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Porter (1980)
Based on competitive advantage
Competitive advantage is gained from e.g.:
• Leadership• Research and
development• Technology/ economic
of scale • Market/ customer
group• Operation management• Marketing/ distribution
channels
There are three generic strategies
•Cost leadership,
•Differentiation and
•Niche market or focus.
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•Organisations pursuing cost leadership strategy
•Aim to create its competitive advantageby
•Becoming the lowest-cost producer in its industry
•The source of this competitive advantage may arise from factors such as
• Economies of scale•Access to favourable raw material prices•Superior technology.
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• Organisations pursuing differentiation strategy
• Focus on providing products with attributes that are highly valued by its customers.
The product attributes include •Quality or dependability of the product•After-sales services•Wide range of product availability•Product flexibility
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•Organisations pursuing focus strategy
•Dedicates themselves to• a segment of the market that has special needs that are poorly served by the other competitors in the industry
vision Mission
Strategy
Goals/ objectives
Planning
Control
Performance evaluation
Reward
Revising
Business environment
Performance
To compare planning against actual performance
Evaluate the performance
Need a performance measurement
APPROPRIATE INFORMATION
Link the organisational objectives and organisational performance measures.
Determine the objectives of each strategy.
Translates strategy’s objective into an integrated set of financial and non-financial measures across a range of perspectives
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HOW TO DESIGN
A tool that translates an organisation’s mission, objectives and strategies into performance measures for each key strategic area of the business
Used to implement strategy and to monitor and manage organisational performance
May form part of the organisation’s planning cycle
14-29
(cont.)
Financial perspective◦ Reflects perspective of the shareholder◦ Summarises the financial outcomes of decision and
actions◦ Measures include cost and product measures, ROI,
cash flow measures, shareholder value measures
Customer perspective◦ Measures the company’s success in achieving
customer value◦ Outcome (lag) measures include customer
profitability, market share, number of new customers
◦ Lead indicators include on-time delivery, number of defects
14-30
Organisational performance
Internal business processes◦ Objectives relate to specific processes that
contribute to customer and financial objectives◦ Measures of cost, product quality, time-based
measures, new product development
Learning and growth◦ Focus is on the capabilities of the organisation to
achieve superior internal processes that create both customer and shareholder value
◦ Delivers long-term growth and improvement◦ Measures focus on employee capabilities,
capabilities of information systems and organisational climate
14-31
(cont.)
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MAS INFORMATION Six types of information, ( Gordon 2000) :
FinancialNon FinancialInternalExternalExpostExante
How managers use this information
14-33
Non financial
information
Financial information
Improvements in non-financial measures will not result in improved profits if◦ Management has selected the wrong strategic
priorities◦ Management fails to utilise freed-up resources,
which result from improvements in non-financial measures
◦ There is a lag between financial and non-financial performance
◦ There are incentives to engage in dysfunctional behaviour, such as manipulating measures or maximising performance of some measures at the expense of others
14-34
14-35
performance measures and information
Profit Sales growth Market share
Non financial measures
Financial measures
BUSINESS ENVIRONMENT, STRATEGY AND MAS INFORMATION
Dynamic/ unstable
Differentiation
Non financial > financial information
BUSINESS ENVIRONMENT, STRATEGY AND MAS INFORMATION
Stable business environment
Cost leadership
financial > non financial information
DR Lanita Winata
Griffith
Business School
Griffith International CRICOS 00233E
41
Campus locations
Brisbane
Gold Coast
Griffith International CRICOS 00233E
Brisbane Capital of Queensland
Griffith Business School
The courses are offered in modes ranging fromthe traditional based on lectures classroomactivities through to the latest use of online anddigital technologies.All forms of delivery are focused on enhancingstudent learning, and aim to be as interactiveand collaborative as possible, but also to allowstudents as much flexibility in their studies aspossible.
Griffith Business School
Flexible learning at Griffith :
Blackboard which contains:Course profiles/ outlineReadingsTeaching materials: lecture notes, tutorial questions and solutionsLecture capture/ echo centre 360Assignment ( online assignment, submission, safe assign and marking) Mark centreCommunication through email and forum
https://www.youtube.com/watch?v=-borfLf9MsA
Griffith Business School
Established in 2005 (Griffith opened doors in 1975)
Almost 8000 students and 275 staff 37% of students are international from 130
countries 6 departments Accounting, Finance and Economics Tourism, Sport and Hotel Management International Business and Asian Studies Employment Relations and Human
Resources Marketing Government and International Relations
The competition for positions in the field is very tight
Ways to Improve Job Prospects
• CPAs will have the best outlook for securing accounting careers.
• While each state has its ownrequirements, qualifying to take the CPAexam typically requires possessing abachelor's degree and 150 semesterhours of college credits.
To become licensed,
2. Usually plus have two years or more experience in public accounting.
3. After you're licensed, continuing education is often needed to maintain licensure.
4. In addition to certification, possessing an accounting master's degree or a business master's degree with an accounting concentration can give you an edge.
1. Complete all CPA”s parts of exam.
proficiency with accounting software and strong communications skills.
strong interpersonal skills because more positions will be in a team environment
strong analytical skills, be good at math, pay attention to details and be organized to succeed in this career.
For graduates of Bachelor of Commerce (Accounting), Master of Commerce (Professional Accounting) or equivalent.
Duration: 120 CP, 1.5 years.
Structure: 6 courses supporting CPA Program studies + 6 postgraduate electives.
Purpose: provide support for the CPA Program professional level examinations and postgraduate studies in related disciplines.
Admission requirements: bachelor in accounting with GPA >= 4; eligibility for Associate membership with CPA Australia; English language requirements.
Available: Nathan full-time, part-time; Gold Coast part-time.
Griffith Business School
Griffith Business School
Griffith Business School
For graduates without an accounting major.
Duration: 180 CP, 2.5 years.(2 years with Summer)
Structure: 12 courses providing CPA Australia Associate membership + 6 courses supporting CPA Program studies.
Purpose: provide Associate membership and support for the CPA Program professional level examinations.
Associate membership must be applied for before proceeding to CPA Program studies.
Admission requirements: bachelor (not in accounting) with GPA >= 4; English language requirements.
Available: Nathan full-time, part-time.
Griffith Business School
Griffith Business School
Study abroad ( 1 0r 2 courses ) for 14 weeks
Credit transfer
Articulation program/ double degree
Griffith: Top 3% (291) of Universities world wide
(Times HES-QS ranking)
Griffith Remarkable scholarship : 50% off throughout degree – application required
Distinction (uncapped): two payments of $3,000 towards postgraduate coursework tuition fees totalling $6000
International student postgraduate scholarship – Certain countries (uncapped): 10% off first two trimesters program – automatic – issued with offer letter
International student A level scholarship : 10% off first two trimesters program (no application needed)
International Baccalaureate student scholarship (uncapped): 10% off first two trimesters program (no application needed)
Family Scholarship (uncapped): one off payment of $1000 towards degree tuition fees
Griffith College Diploma to Degree (3 per year): one off payment of $3000 towards degree tuition fees
Griffith Business School
Griffith Remarkable scholarshipOverviewFor: Outstanding students applying for undergraduate and postgraduate coursework studies at Griffith University. Please visit 'How to apply' for instructions on how to lodge an application for admission to a program.
Available to: Commencing students in Trimester 2 and 3 2018. See 'Eligibility' for more information.Level of study: Undergraduate and postgraduate.Citizenship: Citizen of a country other than Australia or New Zealand.
Award value and benefits: Scholarship covers 50 % of tuition fees throughout the undergraduate or postgraduate coursework degree program. Students must be enrolled full-time to receive the tuition fee reduction.
Duration: Up to six trimesters of study.Programs of study: Undergraduate and postgraduate coursework programs (excludes online, non-award and offshore delivered programs, and students that defer commencement to 2019).
Applications open: Now.
Applications close:
Trimester 2 2018 – Applications close Friday, 18 May 2018 (for 9 July commencement). Outcome notified by 1 June.
Trimester 3 2018 – Applications close Friday, 7 September 2018 (for 29 October commencement). Outcome notified by 21 September.
Dr Lanita [email protected]
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