Management and Cost Accounting Information & Costing-Overview and Basic Technique
There are three parts of this assessment (Part A, Part B and Part C). For the Part C and D you are required to write a business report (part C) and a leaflet/brochure/flyers/poster (part D). Please note plagiarism of your work will be monitored. Therefore, avoid copying from other published sources.
In Part B you had selected an airline company (QANTAS Opponent Air France) for analysing the financial performance. For this section you are required to apply Management Accounting techniques for your selected airline company such as:
1. Management and Cost Accounting Information & Costing-Overview and Basic Technique
2. Costing – Accounting for Overheads & Pricing
You should submit the report on an individual basis as the marks are allocated on an INDIVIDUAL basis.
Assessment Part C will be an individual analytical report on the application of Management Accounting techniques of the company. This includes:
(1) Background to the company – one product/service, one process, one policy you may show this in a graphical format for clarity
(2) Review of management accounting – your understanding of what is management accounting, why it is important for your company and how you can apply it to the product or service/process/policy identified in (1) above.
(3) The key techniques and methods that you would recommend to the company based on (1) and of course the justification for your choice(s).
(4) The strengths and weaknesses of your analysis – not the company!
If required you may make necessary assumptions for the completion of your analysis. Remember to list all your assumptions clearly in your report (appended as an appendix).
Your report should be about 1,200 words (± 10%) excluding appendices of calculations and reference.
You will be assessed on:
• Understanding of management accounting.
• Capability of applying your knowledge to your chosen company
• Capability of identifying any potential problems
• suggestions/ comments on your findings
• Logic, clarity and structure of the report presentation.
ASSESSMENT One Part C: MARKING CRITERIA
Percentage of mark
Logic, clarity and structure of the report presentation.
The report should be clearly presented in a business style. Easy to follow and readable 10
Review of management Accounting Your understanding on Management and Cost accounting 30
Potential issues/problems Based on the cost accounting for e.g. potential problem in applying activity based costing for your chosen company. 30
Key Techniques This section should outline the suggested solutions to the identified problem 20
Strengths & weakness of your report Not the company! 10
Your viva should be based around the following scenario. You have reviewed the Financial Statements of an organisation in a business capacity. As managers in your organisation you then have 5-10 minutes to convince the managers in a management team meeting. In it you need to summarise the work you have done (part A to C) and state your recommendations. Remember it is not only the recommendation that is important but also explaining the criteria you chose and how you reached your conclusions.
You need to choose what specific role you are playing.
1. You might be considering doing business with this organisation as a supplier, and if so, then your objective would be to recommend whether they should be a supplier. OR
2. You might be the finance officer of a small charity, presenting your accounts to a grant awarding body.
These are just some suggestions. It is for you to decide the focus of the presentation, and you can choose any role that will help you to do that. But once you have decided the roles (capacities) then you need to decide on the key information and analysis that need from the financial reports (different information will be relevant depending on the organisations and roles you have chosen), but it should fully support your company objectives.
You will also be required to prepare a hand out to compliment your VIVA, which will be given out to your colleagues at the meeting. You may present as in PAIR for VIVA. This may be a leaflet or brochure or flyers or poster summarising all the parts i.e. from Part A, Part B and Part C. Your work should be on a one A4 page. If required you may use both side of the A4 page. Your viva will be 5 – 10 minutes.
Viva (10% of total Assessment mark)
Area Description Weighting
Presentation Skills 10%
Delivery Pace, tone and eye contact etc
Organisation Good organisation
Structure Clear presentation structure (introduction, objective, recommendations)
Keeping to Time
Appropriate support materials Use of support materials, audio visuals etc.
Clarity Clear and easy to read layout
Content Information that adds to the content of the presentation
An excellent pass: In addition to the criteria for a good pass (below), an excellent essay will demonstrate:
• comprehensive and accurate coverage of the area;
• critical, balanced and well-informed evaluation;
• clarity of argument and expression;
• the introduction of new ideas, creativity, and independent thought;
• transfer and integration of models, ideas and information from a range of sources;
• depth of insight into theoretical issues;
• originality of exposition or treatment.
A good pass: A good pass essay will:
• be generally accurate and well-informed;
• show some evidence of a wide range of reading utilising primary sources;
• show clear understanding of the material;
• show an ability to evaluate the material, although this may be derivative;
• demonstrate the ability to analyse;
• be reasonably comprehensive;
• directly address the question;
• be clearly presented in a concise manner;
• be well organised and logically structured ;
A clear pass: A clear pass essay may demonstrate:
• generally sound work but with a number of notable errors or omissions;
• general accuracy, although with some omissions and errors;
• an adequate answer to the question, although with less evidence of wide-ranging reading;
• a strong answer to a related question, but not the one set;
• only limited development of arguments;
• only limited analysis and interpretation of presented material;
• clear presentation.
A bare pass: A bare pass is likely to include a number of significant errors and/or omissions. A bare pass essay may:
• fail to answer the question directly;
• miss key points of information;
• contain important inaccuracies;
• show only sparse coverage and analysis of relevant material;
• fail to support arguments with adequate evidence/meaning unclear.
A marginal fail: This is unsatisfactory work with serious errors or omissions. Specifically it may:
• contain very little appropriate material;
• show some evidence of relevant reading but provide only cursory coverage with numerous errors, omissions or irrelevancies;
• be disorganised;
• contain much inappropriate material;
• lack any real argument.
A clear fail: Work of a very poor standard with little relevant information constitutes an F (2) fail and “nothing of merit” constitutes a G (0). A clear fail essay is likely to:
• show a profound misunderstanding of basic material;
• show a complete failure to understand the question or anything related to it;
• provide totally inadequate information;
• be an incoherent or inappropriate submission.
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