2017-01-03 来源: 51Due教员组 类别: 更多范文
You are the financial director of a large, ficticious company called Manac plc, which produces and sells a range of standard electrical goods. Production and sales take place across a number of countries. The company uses standard costing and absorption costing as part of its approach to strategic management accounting.
The Board of Directors is concerned that the company is not meeting its budgeted target profits; the managing director takes the simple view that more sales mean more profits and that the products have not been priced to sell in sufficient numbers.
While you are aware that this is a possibility you recognise that the real reason for the lower than expected profits may be more complex. You have therefore decided to conduct a full review of variances to identify those areas which have not met budgeted expectations.
While this review is underway and to improve the board of directors understanding of the issues involved, you have decided to produce a report to the board of directors which addresses the following 3 topics:
i. The models and concepts affecting the pricing decisions taken by organisations, critically reflecting upon their usefulness (maximum mark 33%).
ii. The role of standard costing and variance analysis in management accounting and a critically discussion of the value and limitations of variance analysis as a means of identifying key areas which have contributed to the overall profit figure (maximum mark 33%)
iii. The advantages and disadvantages of introducing an Activity Based Costing system to replace the current Absorption Costing system (maximum mark 34%).
The report should include critical evaluation of the models and concepts proposed outlining their merits and limitations. You may incorporate logical assumptions with regard to the company and use numerical examples to illustrate the models and concepts that you propose to adopt
The University policy on cheating collusion and plagiarism will be applied to this piece of work.
Students are encouraged to be inquisitive and innovative in their approach as to what should be included in this report the following may be of some use in providing guidance as to what could possibly be included, although this is in no way meant to be prescriptive.
For question i)
The students should be able to demonstrate that they understand and can apply some of the contents of Chapter 4 and 5 of Drury and Unit 2 and Unit 4 of the module pack.
For question ii)
The students should be able to demonstrate that they understand and can apply some of the contents of Chapter 11 of Drury and Unit 7 of the module pack.
For question iii)
The students should be able to demonstrate that they understand and can apply some of the contents of Chapter 7 and 8 of Drury and Unit 3 of the module pack.
Extra marks should be awarded to students who demonstrate evidence of having read widely around the subject and integrated this reading into their submission.
The aim of the assignment is to help you understand how key areas of strategic management accounting are demonstrated in practice by a large, international company. This will include investigating topics from throughout the course linked to the above issues. Some of the principles, concepts ad models will be more relevant to your chosen approach than others and so it is likely that different students will formulate different approaches to the problems. This is normal, it is not expected that all of the course content will be used in the analysis, concentrate on that which you feel is most important.
As part of your work you might find it helpful to briefly explore the underlying theory behind the key areas of investigation that you identify before applying them to report.
With a total of 3,000 words you do not have a lot of room for long introductions so assume you are writing to a sophisticated audience who has a working knowledge of strategic management accounting and is well versed in business theory. Numerical example for illustrative purposes may be of use but should not be the main thrust of the work. If used they should be to provide evidence to support your findings from your other analysis of position and policies. If other sources are used remember to reference everything!
Please avoid relying too heavily on descriptive sections reproducing information available from course material or the set text. It is your own logical, evaluation of the situation, the interpretation of course material and presentation, with critical analysis, of a coherent strategic plan that will attract high marks.
1. Critically evaluate a range of key strategic management accounting models and concepts.
2. Critically understand of specific analytical skills in key areas within management accounting at local and international level
3. Critically understand of the role and limitations of management accounting theory.
4. Applied the key management accounting concepts and methodologies in order to contribute to successful decision making in an organisation.
In light of this the assessment criteria in the grid (page 5) will be used when assessing your work.
Answers to the questions ought to include academic references and these should be properly referenced.
Whilst there is no set format for a report, it would be reasonable to expect:
A contents pageA very brief Introduction to the aims of the report
A separate section covering each of the three questions
A very short set of conclusions and recommendations
A bibliography/reference list
Indicative reading list:
The core text book: Drury, C. (2009) Management Accounting For Business (4th Edition), Cengage Learning.
Atrill, P and McLaney, E. (2010) Management Accounting for Decision Makers (6th Edition), Financial Times Press.
Brierly, J, C Cowton, and C Drury (2006) ‘A Comparison of Product Costing Practices in Discrete-part and Assembly Manufacturing and Continuous Production Process Manufacturing’, International Journal of Production Economics, 100-(2), 312-21.
Drury, C (2008) Management and Cost Accounting, London: Cengage Dugdale, D., Jones, T.C. and Green, S. (2006) Contemporary Management Accounting Practices in UK Manufacturing Companies, Chartered Institute of Management Accountants.
Horngren C, Datar S, and Foster G (2005), Cost Accounting, A Managerial Emphasis, 12th Edition Prentice Hall InternationalJack, L (2009) The Adoption of Strategic Management Accounting Tools in Agricultural Post Subsidy Reform: A Comparative Study of Practices in the UK the US, Australia and New Zealand, London CIMA.
Kaplan, R.S. and Cooper, R, (1998) Cost and Effect: Using Integrated Systems to Drive Profitability and Performance, Harvard Business School Press
Proctor, R. (2009) Management Accounting for Business Decisions, (3rd Edition), Financial Times Press.
Other sources of information:
The authors referenced in the core text book pages 409-412.
The authors referenced in the Module Pack pages 220-221
Other, similar Management Accounting textbooks in the library
Accounting Journals in the library
The internet (limited use only) -the main emphasis is on recognised academic text books - the use of Wikipedia is not acceptable-
Criteria Fail (<34) Fail (35-39) 3rd (40-49) 2:2 (50-59) 2:1 (69-69) Ist (70+)
Knowledge of relevant concepts and issues Fails to identify the majority of the concepts relevant to the question or introduces topics that are not relevant. The ordering of the concepts indicates a lack of understanding of key concepts. Fails to identify the majority of the concepts relevant to the question. Those concepts that are used are misapplied. The ordering of the concepts is in appropriate.
Identifies some of the key concepts, but not all o f them, or displays an in correct understanding of some of the concepts discussed. The ordering of the concepts may be adhoc. Identifies and utilises some of the key concepts relevant to the question. Uses some of the concepts, but not always in an appropriate context. The work is ordered appropriately
Identifies the majority of the key concepts relevant to the question and uses them in an appropriate context. Orders and structures them in a logical sequence
Identifies all of the key concepts relevant to the question and uses them in an appropriate context. The material is structured to show significant understanding of the key issues.
Depth of understanding and extent of critical evaluation (including evidence of wider reading)
The student has failed to address the question set or appears to have answered a different question to that set. There is no evidence of any reading. No key issues identified.
There is no evaluation of the validity of the sources used or the work is based on one key source. Inappropriate sources are used extensively. There is no evidence of appropriate wider reading. No reflection on key issues. There is some evaluation of the materials used in the work. The work is based on a limited number of appropriate sources.
Little reflection on key issues.
Good evaluation of materials used, with discernment obvious as to key sources. The work is based on a number of appropriate sources. Some reflection on key issues. Good evaluation of all key/important sources materials used. The work is based on a wide range of appropriate sources. Good reflection on key issues.
The work is set in a context where wider reading and appreciation of the context is obvious. The material included is relevant to the topic and appropriate in addressing the key issues identified in the assignment
Evidence of appropriate analysis
The student fails to draw any relationships from the material used or the student is incorrect in the relationships that they draw. The student draws one or two basic relationships from the material used, but then subsequently misapply these concepts.
The student draws one or two basic relationships from the material used, but fails to identify other important relationships. There may be some evidence they have not clearly understood all of the material they have presented
The student draws some limited relationships from the material used. There might be minor issues where the student is incorrect in the assertions that they make, but overall they demonstrate appropriate analysis. The student starts to demonstrate they understand the key relationships from the material used. There are no substantive errors in their analysis.
All the key connections are drawn between materials from different sources. The student makes no substantive errors in their analysis and reflects upon the key issues identified in their analysis.
Ability to synthesise relevant material from a range of sources The student fails to use any appropriate sources. There is extensive repetition of notes given out in class. The student uses just a few non-academic sources of information or the material used is inappropriate for UG level study. They quote verbatim extensively from one or two sources. They use quotations incorrectly to support an argument.
The student uses a few sources of information or the material used is inappropriate for UG level study. Extensive verbatim quotes are used as a replacement for the students own work. The student may be limited in their use of academic sources such as journals and books, but there is evidence that they have attempted to access a range of sources including non-academic ones.
The student has accessed a range of academic sources such as journals and books, and also appropriate non-academic ones. Verbatim quotes are used to enhance the arguments being developed rather than as a replacement for the students own work.
The student has accessed a wide range of appropriate sources. They make reference to a wide range of material in their work. Verbatim quotes are used from a range of sources to illustrate and support the arguments being developed, but without becoming a substitute for the students own work.
Structure and clarity of presentation. The work has no coherent structure. The work is littered with spelling and typographical errors. Very poor use of English. Where appropriate tables/graphs are not used. Referencing is poor or non-existent.
The work is poorly organised, and structured. There are many spelling and typographical errors. Poor use of English. Where appropriate tables/graphs are not used. Referencing is patchy and incomplete.
The work is poorly structured. There are spelling and typographical errors. Poor use of English. Where appropriate tables/graphs are not used appropriately. Some of the referencing is incomplete
The work has a clear structure and generally a logical progression. Occasional typographical and spelling errors. Some use of tables/graphs is made where appropriate. The work has overall a coherent structure and a clear and logical progression. Very few typographical and spelling errors. Good use of tables/graphs is made where appropriate.
The work is well structured with clearly defined objectives that are achieved. Typographical and spelling errors are rare. Excellent use of tables/graphs is made where appropriate.
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