Year
3 Semester 1
Time flies! I would
be in my last semester next semester. The first semester of Year 3 was still
manageable. I guess the main reason is that I’ve managed to clear my Strategic
Management module during my summer exchange. As such, I’ve only took 2 core and
2 electives this semester.
AC2105 Accounting for Decision Making &
Control (CORE - 4AU)
Course Format:
Online Assessments
(5%)
Class
Participation (7%)
Mid Terms (10%)
Seminar
Presentation (8%)
Management Meeting
(20%)
Final Examination
- open book (50%)
Attained Score:
Online Assessments
(A+)
Class
Participation (B)
Mid Terms (A+)
Seminar
Presentation (A-)
Management Meeting
(B+)
Final Grade: A+
This module focuses on management
accounting. There are 4 themes to this module:
1. Framework for
Decision Making and Control (Agency theory; Organisational Architecture
Framework; Porter’s strategy concepts)
2. Cost Planning
and Decision Making (CVP analysis; decision making calculations)
3. Operational
Control (Budgetary planning; variance analysis)
4. Management
Control (Responsibility accounting; management compensation; transfer pricing;
sustainability and performance management).
This module seems
like a MBA module to me though. There was less teaching involved and more
discussion/presentations/role plays. Most of the concepts were self taught and
the classes don’t really provide much information to learn from. Rather, it’s
more focused on the application of concepts acquired before class. Thus, it’s
quite important to prepare beforehand, if not, one will get quite lost during
classes. There were some interesting aspects of this module, e.g. transfer
pricing, which appeals to me. I would say this module’s difficulty level seems
similar to year 2 standard.
The management
meeting was the main highlight of this module. It involves teams taking on
roles of different department. A pre-meeting video is required prior to the
meeting; a lot of editing have to be done for the video which I feel that it’s
quite troublesome. Preparation for the meeting would have to be done and it’s
somehow very difficult to coordinate as the actual meeting comprises of 4
different teams. After the meeting which is 2 hours long, a reflection report
has to be submitted within 24 hours.
AC3103
Accounting Analysis & Equity Valuation (CORE - 4AU)
Class
Participation (15%)
Quiz (10%)
Individual Take
Home Written Assignment (10%)
Group Written
Assignment (15%)
Final Examination
- open book (50%)
Attained Score:
Individual Take
Home Written Assignment (A-)
Final Grade: A+
This module is my
first AC3XXX module and it’s really hard! There’s mainly 2 parts to this
module, the first part (1st 4 weeks) covered the various
financial accounting theories (e.g. positive accounting theory, earnings
management, value relevance) and the second part was on fundamental
analysis.
The first part was
rather dry but I’ve find it quite interesting as it touches on concepts such as
capital market incentives to manage earnings and some aspects of behavioral
finance. The second part was more quantitative in nature as it introduces the 4
steps to valuation. As for the course components, there was a case study
presentation to be done as part of the class participation. I find the level of
difficulty for the case studies to be rather high as we are using Harvard
Business School case studies for this module and there’s a lot of computation
to be done for most of the case studies. The quiz tests the financial
accounting theories and concepts that was covered in the first 4 weeks. As for
the individual written assignment, the topic for my semester was to analyse
the effects of an increase in a company’s financial leverage on its ROE and
share price and the applications of some financial leverage measures. It
differs from semester to semester and sometimes it’s quantitative or
qualitative inclined. Mine was more qualitative inclined though. The group
written assignment was demanding. It involves extensive application of the 4
steps of equity valuation to determine the intrinsic share price of 2 chosen
companies. Anyway, there’s a lot of work and computations to be done. My
group’s final report has a supporting spreadsheet with over 20 tabs and that’s
crazy and not fun. The final examination was really challenging. It’s also a
combination of quantitative and qualitative reasoning. The questions in the
finals are relatively standard though (EPS calculation, Accounting adjustments
and ROE advanced DuPont decomposition, and RI model calculation).