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Yellow Professional Gradient App Development Marketing Presentation

01. The document discusses management accounting and its role in creating a responsible business mindset. It presents arguments from both sides of the issue in a debate format. 02. The "For" side argues that management accounting can maximize stakeholder welfare while earning profits if it takes social and environmental factors into account. It also contends that management accounting reflects a growth mindset and can help businesses optimize internal and external resource allocation in a more sustainable way. 03. The "Against" side counters that management accounting relies on subjective predictions and has no external regulation or standard system. It may also prioritize managers' interests over shareholders.

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Kevin Owen
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34 views

Yellow Professional Gradient App Development Marketing Presentation

01. The document discusses management accounting and its role in creating a responsible business mindset. It presents arguments from both sides of the issue in a debate format. 02. The "For" side argues that management accounting can maximize stakeholder welfare while earning profits if it takes social and environmental factors into account. It also contends that management accounting reflects a growth mindset and can help businesses optimize internal and external resource allocation in a more sustainable way. 03. The "Against" side counters that management accounting relies on subjective predictions and has no external regulation or standard system. It may also prioritize managers' interests over shareholders.

Uploaded by

Kevin Owen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 9

THE UNIVERSITY OF SYDNEY

BUSS5220 - RESPONSIBLE
BUSINESS MINDSET

OCTOBER 2021
Management
Accounting
Can Create
A Responsible
Business
Mindset
• WENHUI ZHU (1ST SPEAKER) 510367802
• HAOMING LI (2ND SPEAKER) 510276124
• RUI ZHANG (3RD SPEAKER) 510225797
• YINSHI HU (4TH SPEAKER) 510244570
• ERIC PUTRA TJIOE (5TH SPEAKER) 510635804
• HAO XIAN (6TH SPEAKER) 510345383
For Side Question & Opening

• Can social, environmental, and sustainability


reporting and accounting add anything to the
pursuit of profit figures?
• Whether social disclosure and social
responsibility 'create' or 'release' value?

RESPONSIBLE BUSINESS MINDSET | 2021 2


"For" Side Highlight 1 Highlight 2 SDG#13.3

Opening Managers may be Management improve education,


Arguments able to maximize accounting is a awareness-raising
stakeholder welfare concrete expression and human and
while earning more of a responsible institutional capacity
Management
profits. business mindset. on climate change
accounting is a
necessary condition for
the formation of a
responsible business
mindset.

RESPONSIBLE BUSINESS MINDSET | 2021 3


For Side Question & Opening

• How can you make sure that the management


accounting is absolutely responsible for all
involved business stakeholders?
• Role of accounting: provide services to
capitalism, injustice for people other than
shareholders, ignore non-financial markets
(Bhimani, Datar, Horngren, & Rajan, 2019).

RESPONSIBLE BUSINESS MINDSET | 2021 4


Rebuts the Affirmative Side
• Working for internal department of business privately;
• Not fair enough to persuade people to believe that the accounting
can create a responsible business mindset;
• Decision making based on the financial and cost record is given
by the business;
• The limitations of primary records;
• disregard the social cost of environmental pollution;
• SDG goal 16 ： justice working environment to encourage;
• SDG target 1.3: appropriate social protection systems

RESPONSIBLE BUSINESS MINDSET | 2021 5


For Cost accounting takes into account environmental

Side 01 factors.

Rebuttal
Argument
02 Management accounting is responsible for the
environment and social.
How does management
accounting affect social
and environmental
resource? Management accounting can create responsible
business thinking from the company's internal
03 performance evaluation and dynamic reporting of
information.

RESPONSIBLE BUSINESS MINDSET | 2021 6


Against The accounting professions reluctant to do cost-

Side 01 benefit analysis at present, no external regulation for


management accounting.
Rebuttal
Argument It relies on the accuracy of this information for

How can you make sure 02 management


• Too many forecasts
• Subjective or personal prediction
they will do cost-benefit • No standard system or supervision
analysis?

Management accounting is internal, and might have


conflict issue between manager and shareholders.
03 • Manager might make decisions only benefit themselves.
• Agency Theory

RESPONSIBLE BUSINESS MINDSET | 2021 7


Closing Arguments "For" Side

01 02 03 04
• Management Accounting • Management Accounting • Management Accounting for • Sustainable Balanced Scorecard
Provide financial and non- reflects the growth mindset. a better environment. help builds a responsible
financial information. • Management Accounting • Optimizes the internal and business mindset.
• Ensure a better financial contradicts traditional external resource allocation • Balanced Scorecard: achieve
performance and level of economic. of the company. financial goals and long-term
social responsibility. • Management Accounting as development of our society and
lesson learnt for better future environment.
growth.

Management Accounting relates to:

SDG 13 Climate action (Target 13.3)

RESPONSIBLE BUSINESS MINDSET | 2021 8


Reference List
• Bhimani, A., Datar, S. M., Horngren, C. T., & Rajan, M. V. (2019). Management and Cost Accounting. Pearson.
https://sydney.alma.exlibrisgroup.com/leganto/readinglist/citation/15305428750005106?institute=61USYD_INST&auth=SAML
• Bloom, R., & Heymann, H. (1986). The Concept of “Social Accountability” in Accounting Literature. 5, 167–182.
• Financial Yard. (n.d.). The Limitations Of Management Accounting – Financial Yard. Financial Yard. Retrieved October 18, 2021, from
https://financialyard.com/the-limitations-of-management-accounting/
• Gray, R. (2006). Social, environmental and sustainability reporting and organisational value creation?: Whose value? Whose creation?
Accounting, Auditing, & Accountability, 19(6), 793–819. https://doi.org/10.1108/09513570610709872
• Johansson, P.-O., & Kriström, B. (2018). Cost–Benefit Analysis. Cambridge University Press. https://doi.org/10.1017/9781108660624
• Milne, M. J. (1996). On sustainability; the environment and management accounting. Management Accounting Research, 7(1), 135–161.
https://doi.org/10.1006/mare.1996.0007
• Saukkonen, N., Laine, T., & Suomala, P. (2018). Utilizing management accounting information for decision-making: Limitations stemming
from the process structure and the actors involved. Qualitative Research in Accounting and Management, 15(2), 181–205.
https://doi.org/10.1108/QRAM-01-2017-0007
• Sherman, F. (2019, June 7). Nonfinancial Vs. Financial Information. Bizfluent. https://bizfluent.com/info-7758431-nonfinancial-vs-financial-
information.html
• Van Puyvelde, S., Caers, R., Du Bois, C., & Jegers, M. (2012). The Governance of Nonprofit Organizations: Integrating Agency Theory With
Stakeholder and Stewardship Theories. Nonprofit and Voluntary Sector Quarterly, 41(3), 431–451.
https://doi.org/10.1177/0899764011409757

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