Management Accounting for Managers
1. This assignment must be submitted electronically by 5pm on the submission date
2. If any assessment is not submitted at the agreed time, and there are no certificated extenuating circumstances, it can be submitted within 5 working days. It will be marked on merit, but the mark awarded will be capped at 40%
3. No work will be accepted after 5 working days.
4. Please remember plagiarism is a serious academic offenceand you should reference your work using Harvard referencing system
Assignment format and other relevant instructions to students:
An individual essay, not exceeding 2,500 words. The essay will represent 50% of the overall mark for the module. The pass mark is 40% for this element.
Your report must be supported by management accounting literature – you must therefore include references using Harvard referencing standard. You should use 12 font size, Times new Roman font face and 1.5 line spacing
This assignment tests the following Learning Outcomes for the module:
A1: Demonstrate confidence in sorting and analysis financial data.
A2: Understand the role of costs as measures of activity in the decision making process, and appreciate the limitations of cost information as the primary decision making criteria
B1: Understand how to evaluate the role of alternative costing systems in the decision making process
C1: Generate and evaluate alternative financial options appropriate for a specific context using skills of critical thinking, analysis and synthesis.
C2: Work with others effectively and efficiently to evaluate data and formulate a strategic management accounting report
D1: Organise and synthesise complex data from a variety of sources, to select and apply criteria to measure and evaluate complex aspects of organisational decision making.
The Assignment Task:
You work in the accounting department of a large organisation that employed both the traditional standard costing and budgeting techniques over the years, with little changes in the system.
In recent years, the company has experienced a downturn in profit due to changes in technology and competition in the industry. The board of directors is concerned about the company’s financial position, however, the board still viewed traditional budgeting as a relevant technique to facilitate business performance but are also looking into the beyond budgeting approach
The board of directors has asked you to review the management accounting literature of the organisation, to improve efficiency, costing, pricing and business performance.
Following your review of management accounting literature, you are required to:
Produce a report for the board of directors that discusses:
Task 1.1: The changing role of management accounting within the context of strategic decision making (25 marks)
Task 1.2: The traditional and recent changes in costing methods in response to the changes in customer teste and technological advancement (25 marks)
Task 1.3: The practical impact of contemporary approaches to budgeting and beyond budgeting
The remaining 10 marks will be given to assignment parameters such as good structure, synthesis, referencing etc.
70 – 73 A first The qualities of an A grade but with more limitations. Work of very good quality which displays most, but not all, of the A grade characteristics for the level concerned.
74 – 76 A good first Work of distinguished quality which is based on extensive research and/or strong technical and creative competence. Clear and logical organisation; consistent scheme of references, used entirely appropriately. An authoritative grasp of concepts, methodology and content appropriate to the subject/discipline and to the assessment task will be demonstrated. There is clear evidence of originality and insight and an ability to sustain an argument and/or solve discipline-related problems, based on critical analysis and/or evaluation. The ability to synthesise material effectively and the potential for skilled innovation in thinking and practice will be evident.
60 – 63 An upper second Work of good quality which contains most, but not all, of the B grade characteristics for the level concerned.
64 – 66 A good upper second Work of good quality which is based on a wide range of properly referenced sources and/or creative input, demonstrating a sound and above average level of understanding of concepts, methodology and content appropriate to the subject/discipline and to the assessment task. There is clear evidence of critical judgement in selecting, ordering and analysing content to construct a sound argument based on responses which reveal occasional insight and/or originality. Ability to solve discipline-related problems will be effectively and consistently demonstrated. Draws on an appropriate range of properly referenced sources.
67 – 69 A high upper second Work which clearly fulfils all the criteria of the B grade for the level concerned, but shows greater insight and/or originality.
50 – 53 A lower second Work of sound quality which contains most, but not all, of the C grade characteristics for the level concerned.
54 – 56 A good lower second Work of sound quality which is based on satisfactorily referenced sources and/or creative input and which demonstrates a grasp of relevant material and key concepts, together with ability to structure and organise arguments or materials effectively. The work may be rather standard, but will be mostly accurate, clearly communicated and provide some evidence of ability to engage in critical analysis and/or evaluation. There will be no serious omissions or irrelevancies. In dealing with solutions to technical problems, appropriate methods will be chosen. Coherent organisation in general with effective use of references and acknowledgement of sources.
57 – 59 A high lower second Work which clearly fulfils all the criteria of the C grade for the level concerned, but shows a greater degree of critical analysis and/or insight.
40 – 43 A third Work of bare pass standard demonstrating some familiarity with relevant subject matter and application of relevant academic capabilities, but only just meeting threshold standards in research, analysis, organisation, focus or other skills essential to the assessment task, and/or with significant errors or omissions.
44 – 47 A middle third Work of satisfactory quality which covers the basic subject matter adequately and is appropriately organised and presented, but which is primarily descriptive or derivative rather than analytical or creative. Study may be limited and narrowly focussed. There may be some misunderstanding of key concepts and limitations in the ability to select relevant material or techniques, and/or in communication or other relevant key skills, so that the work may be flawed by some errors, omissions or irrelevancies. There will be some evidence of appropriate research and ability to construct an argument, but it may be narrowly focused. In dealing with solutions to technical problems, established and appropriate methods will generally be chosen, but these may be applied uncritically.
46 – 49 A high third Work of a satisfactory standard demonstrating a reasonable level of understanding, and competent organisation, but lacking sufficient analysis and independence to warrant a C grade at the level concerned.
35-39 A bare fail Work which indicates some evidence of engagement with the subject material and learning process, but which is essentially misinterpreted, misdirected, misunderstood or poorly organised and sketchy or otherwise just failing to meet threshold standards at the level concerned.
20-34 A fail Work which indicates little engagement with the subject material and learning process; which contains substantial errors or irrelevancies; which shows minimal evidence of planning and hardly any use of references and acknowledgement of sources; which clearly fails to meet threshold standards at the level concerned.
1-19 A bad fail Work of very poor quality which is based on only minimal effort and/or contains little of relevance. It will offer hardly any evidence of familiarity with subject materials or skills appropriate to the discipline or task at the level concerned.