Posted: December 20th, 2015

USING ACCOUNTING FOR DECISION MAKING

Estimated (max.) time required: 100 – 120 minutes (about 1½ – 2 hours)
Read Chapter 6, Study Guide (‘Understanding Key Cost Relationships’).
Read it like you would a novel or any book, actively seeking to engage with the author and to understand what you are reading. What is the author trying to say? Let the author take you on a journey: go with him and see what you think of some of the key ideas and concepts being discussed.
And while you do this, note down key concepts that occur to you. That’s right; just write them down as you go along. Also, include any questions that occur to you as you are reading. What do you find confusing, difficult to understand or believe, boring, exciting or surprising? Then include a summary of your key concepts and questions (KCQs) in your SPA#1.
Your personal engagement with the reading is what your markers are interested in. Do not summarise the readings. I will say it again, do not summarise the readings. We are interested in your reactions, developing understanding, and questions from the readings. We know what the reading says, so simply giving a summary of the reading will not be telling us anything we do not already know.
Use the words “I” and “me” in your SPA#1. Different people will have different reactions to the readings. Tell us what your reactions actually are. This is what we are interested in. Do not tell us what you think we might want to hear. Be genuine and honest in your reactions to the reading. Give something of yourself in your SPA#1.
We are looking for you to show a connection to the reading material. You might like to imagine that your close friend has presented you with the reading material and has asked you to explain to them the key concepts, in an easy-to-understand manner, using examples from your own life experiences (or those of others who you personally know about). For example, you may have a friend who is part of the purchasing/cost control aspect of a business, or your parents may have run a small business – so you can use these experiences to back up your reactions as you are writing your key concepts and questions. You can also use your interactions with others from the course as part of your examples to support your communication of the key concepts.
There is no required format or ‘word count’ for your SPAs. Instead, focus on communicating your responses, developing insights and questions that you have. For examples of how two students (Kirsten Williams and Anna Towan) in previous courses wrote their SPA#1, click on SPA#1 Exemplars in the Feedback box on the right hand side of Moodle.
Please submit your SPA#1 as a Word document.
Please allow 100 – 120 minutes to complete SPA#1.
Commonly asked questions, answered by Martin:
Q1: What are KCQs?
A: KCQs are key concepts and questions. Key concepts are not simply a summary of the main points of the chapter. Rather, key concepts are what you see as striking, interesting, confusing, challenging, or important to you. KCQs focus on your reaction to what the author is saying – what sense you make of aspects of the reading, what you agree with or disagree with, and why. Your KCQs are likely to be different to other people’s KCQs. The reason for this is that we all bring very different backgrounds and experiences to the readings. We need to carefully and thoughtfully connect what we are reading to our prior knowledge and previous experience – and we all bring our unique backgrounds and experience with us.
I have had the privilege of working in senior roles in investment banking, funds management and private equity. I have never once been asked to summarise anything – not once. Never. But what I have been asked to do a lot is to give my advice and opinions and reactions to different situations and material – and to give my reasons why I have these opinions and give the advice I do. I have needed to persuade and influence others. So my clients and work colleagues have been interested in what I can bring to a situation – not simply summarise what someone else thinks. In other words, as professionals we need to add value – we need to add something of ourselves.
Your SPAs give you an opportunity to communicate to me your reactions and responses to the readings. So go for it! And remember, opinions are cheap. We all have them about all sorts of things. What is important is to not only communicate your opinions and responses to some of the key concepts in the reading, but to give evidence and reasons to support your opinions.
Q2: How long should I write my SPA?
A: There is no word limit. Instead, there is a time limit. You should not spend more than about 100-120 minutes on your SPA#1. If you find yourself spending longer than this, then you are probably summarising the chapter. Do not summarise the chapter. You know if you are summarising the chapter if you are simply writing down what the author is saying, rather than writing down what you think about what the author is saying.
Now, you do need to write simply in a few words of your own, your own description and understanding of some of the key concepts. But the focus of your SPA#1 needs to be on your reactions and responses to what you are reading. Go on – be reflective and thoughtful…
I look forward to reading your SPA#1.

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