Scenario and activity:
You are a Management Accountant for a Large enterprise in the manufacturing sector in Qatar [organisation of your choice] and, in an effort to promote understanding between different departments in the organization during COVID19 Pandemic , you have been asked by your line manager to prepare a Report on the role and function of the Management Accounts department of your company, covering the management accounting systems operating in the organization as well as the range of techniques that will be used during this crisis. You are to also deliver a Portfolio of completed calculations for accounting statements, including Income statements using Marginal Costing, Absorption costing and Cost Sheet. You are also expected to interpret data using your financial reports for the range of business activity represented in the financial statements during this period of crisis.
You will draft the report on the following lines:
- Evaluate the benefits of Management Accounting systems by explaining what Management Accounting is and the different types of Management Accounting systems integrating this with the organizational (enterprise of your choice) context.
- Critically evaluate Management Accounting system and Management Accounting Reporting at your organization adopted during this period of crisis due to the COVID19 Pandemic.
Your Portfolio should include:
- Cost Analysis by calculating costs after preparing Income statement using Marginal and absorption costing.
- Produce financial reports that accurately apply management accounting techniques by drafting a Cost Sheet and calculating Break even analysis, Margin of safety, targeted profits. You are to interpret data of the business activity of your organization during the period of crisis caused by COVID19 Pandemic.
Sample Solution