Management Control Systems - Evaluate the performance of your resources
Timeline
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January 13, 2020Experience start
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January 7, 2020Project Scope Meeting
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February 15, 2020Midpoint Check in
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March 14, 2020Submission Round 1
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April 5, 2020Experience end
Timeline
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January 13, 2020Experience start
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January 7, 2020Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
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February 15, 2020Midpoint Check in
Students must submit a 1 page document outlining their progress so far. This should include; communication to date with company, any foreseeable issues or concerns, current findings or anything else that the group feels is relevant.
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March 14, 2020Submission Round 1
Project submitted to Instructor for approval before being submitted to company.
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April 5, 2020Experience end
Categories
Accounting Leadership Operations Project managementSkills
management control systems writing cost accounting researchIs your organization utilizing your internal physical, human and financial resources correctly? Is your resources aligned with your organization’s goals and strategies? Students in the Advanced Management Accounting and Control course at Carleton University will work with your organization to analyze your current management control system, evaluate the performance of your resources, and offer recommendations to improve the use of resources within your organization.
The final project deliverable will include:
- A (approx 10 page) report on the current structure
- Recommendations for how to improve weaknesses in management control systems
Project timeline
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January 13, 2020Experience start
-
January 7, 2020Project Scope Meeting
-
February 15, 2020Midpoint Check in
-
March 14, 2020Submission Round 1
-
April 5, 2020Experience end
Timeline
-
January 13, 2020Experience start
-
January 7, 2020Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
-
February 15, 2020Midpoint Check in
Students must submit a 1 page document outlining their progress so far. This should include; communication to date with company, any foreseeable issues or concerns, current findings or anything else that the group feels is relevant.
-
March 14, 2020Submission Round 1
Project submitted to Instructor for approval before being submitted to company.
-
April 5, 2020Experience end
Project Examples
A management control system (MCS) is an informal as well as a formal framework that an organization puts in place to compare its strategy and goals against the actual outcome.
It is a measurement tool that determines whether the business is able to perform its functions effectively and is it able to meet its objectives. Students in teams of 4-5 will spend 20 hours working with your organization to analyze your current management control system and provide recommendations on how to improve any weaknesses.
Some examples of topics that could be a focus would include:
- Results, action, personnel and cultural controls
- Financial responsibility centres
- Planning and budgeting
- Incentive systems
- Financial performance measures
- Ethical issues
An effective management control system can help your organization to:
- Facilitate the gathering of relevant data and offer the information to management so that operations can continue seamlessly.
- Communicate the goals of an organization in a precise and clear manner
- Ensure that the manager, as well as other employees, understand the particular action plan to reach company goals
- Helps to generate feedback at every stage
- Makes it possible to realign and make adjustments accordingly
- Helps in both forecasting and budgeting
- Implementing the system results in better coordination and communication that ultimately leads to aligning the objectives of a company
Companies must answer the following questions to submit a match request to this experience:
Be available for a quick phone call with the instructor to initiate your relationship and confirm your scope is an appropriate fit for the course.
Provide a dedicated contact who is available to answer periodic emails or phone calls over the duration of the project to address students' questions.
Timeline
-
January 13, 2020Experience start
-
January 7, 2020Project Scope Meeting
-
February 15, 2020Midpoint Check in
-
March 14, 2020Submission Round 1
-
April 5, 2020Experience end
Timeline
-
January 13, 2020Experience start
-
January 7, 2020Project Scope Meeting
Meeting between students and company to confirm: project scope, communication styles, and important dates.
-
February 15, 2020Midpoint Check in
Students must submit a 1 page document outlining their progress so far. This should include; communication to date with company, any foreseeable issues or concerns, current findings or anything else that the group feels is relevant.
-
March 14, 2020Submission Round 1
Project submitted to Instructor for approval before being submitted to company.
-
April 5, 2020Experience end