The Usage of Failure Modes and Effects Analysis Technique while Process Improvement in Managerial Accounting Courses
Failure mode and effect analysis is a widely accepted and useful technique for the practitioners, which explicitly exposes the failures and their mod in a specific system, besides the technique critically analyses the relationship between the causes and effect of the failures. In this study, it is tried to draw a framework for process improvement in managerial accounting courses by using FMEA model. FMEA is used for identifying the risk factors and determining the risk priority numbers of the potential risks in terms functional and characteristic bases. In the study, most risky main factor (subject) in managerial accounting courses was “Measuring relevant costs and revenues for decision making”. This main factor includes of three sub-factors respectively; lack of analytic abilities, lack of managerial thinking, lack of fundamental accounting capabilities. These three sub-factors are subjected to the process improvement; reminding of mathematical rules, reminding of basic managerial subjects and reminding of basic accounting principles. Additionally, more questions are solved during the course about the subject. This first step improvement positively affected the success of students. In the light of actual improvement an estimation of further improvement results projected at the end of the study. Hence this study a framework is drawn for improvement in managerial accounting courses which can be modified to the other courses easly for risk assements and the improvements. It is believed that study can increase the academicians’ knowledge (for increasing efficiency in the courses) and control capacity.