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HI5017 T3 2019 Managerial Accounting

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Assessment Details and Submission Guidelines
Trimester T3 2019
Unit Code HI5017
Unit Title Managerial Accounting
Assessment Type Assignment
Assessment Title Individual Assignment
Purpose of the assessment (with ULO Mapping) Students are required to develop their understanding of the purpose and use of management accounting systems, and its usefulness in aiding managers make informed decisions. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting systems by contemporary companies, in terms of their relevance to the real-life companies’ decision-making by managers and achievement of business goals (ULO 1, 5, 6, 7 & 8)
Weight 30% of the total assessments
Total Marks 30
Word limit Not more than 3,000 words. Please use “word count” and include in assignment.
Due Date Week 9 Sunday at 11.59 p.m.
Submission Guidelines All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page.The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers.Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.It is the responsibility of the student who is submitting the work, to ensure that the work is in fact her/his own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking on Blackboard before final submission in the subject. For further details, please refer to the Unit Outline and Student Handbook.

Purpose:

Individual Assignment Specifications

This assignment aims at developing your understanding of the purpose and use of management accounting systems, and its usefulness in aiding managers make informed decisions. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting systems by contemporary companies, in terms of their relevance to the real-life companies’ decision-making by managers and achievement of business goals.

HI6028
HI6028

Assignment Task:

Journal Article Critique (30 Marks)

You are required to conduct a literature search and discussion in this assignment.

You are to choose a peer reviewed journal article (from any country) on the:

  • Use of Standard Costing in a real-life company; and
  • Use of Target Costing in a real-life company.

Register the two article names and details with your Lecturer in class. The articles should be published between 2010 – 2019. Choose your articles only after you have accessed several relevant articles, and then choose the best articles that will answer the assignment question below.

Required: Critically evaluate the relevance and challenges of both costing systems by answering the 5 questions below:

Questions:

  1. Briefly discuss the features of standard costing as a planning and control system. (5 marks)
  • Based on your standard costing article, discuss the relevance of standard costing as a planning and control system in your real-life case company. Did it satisfy the features discussed in (i)? Why or why not? Include examples in your answer from your standard costing article. (5 marks)
  • Discuss what target costing is and compare and contrast it from standard costing. (5 marks)
  • Is target costing relevant in today’s competitive and (in most cases), uncertain business environment? Explain with examples from your target costing article. (5 marks)
  • Based on your literature findings (above), which of the two systems would you recommend for contemporary organisations to use for planning purpose and which system you would recommend for control purpose? Explain (5 marks)

Additional Information:

  1. You are encouraged to choose the journal article from the following Accounting and Management Accounting Journals:

Accounting, Auditing and Accountability Journal; Journal of Management Accounting Research Journal of Applied Management Accounting Research

  • You can access these journals in ProQuest Database by clicking on the above links. Log in details for ProQuest are – Username: Holmes2004; Password: Holmes. These journals can also be accessed via the ProQuest Database link available via the Student Login page in the Holmes website. You can also use Google Scholar. Don’t use Google.
  • No student can choose the same article as another student from the same class, else both students may receive a zero mark, at the Lecturer’s discretion.
  • The two journal articles must be uploaded (as a separate PDF file) together with your assignment (as a MS WORD file format) in Blackboard under the folder <Assignment>. 5 marks will be deducted if you do not submit the articles with your assignment.

Assignment Structure:

The report should include the following components:

  1. Assignment cover page clearly stating your name and student number
    1. Abstract (one paragraph)
    1. Table of contents
    1. A brief introduction or overview of what the report is about.
    1. Body of the assignment with appropriate section headings
    1. Conclusion
    1. List of References.

Marking Criteria

Marking Criteria Weighting
Journal Article Critique  
1. Briefly discuss the features of standard costing as a planning and control system. 5%
2. Based on your standard costing article, discuss the relevance of standard costing as a planning and control system in your real-life case company. Did it satisfy the features discussed in (i)? Why or why not? Include examples in your answer from your standard costing article. 5%
3. Discuss what target costing is and compare and contrast it from standard costing. 5%
4. Is target costing relevant in today’s competitive and (in most cases), uncertain business environment? Explain with examples from your target costing article. 5%
5. Based on your literature findings (above), which of the two systems would you recommend for contemporary organisations to use for planning purpose and which system you would recommend for control purpose? Explain 5%
Overall Presentation of Assignment 5%
TOTAL Weight 30%

Marking Rubric

  Excellent Very Good Good Satisfactory Unsatisfactory
Journal Article Critique          
Briefly discuss the (4.1 – 5 marks) (3.6 – 4 marks) (3.1 – 3.5 marks) (2.1 – 3 marks) (0 – 2 marks)
features of standard Present an Present a very Present a good Present a Unable to
costing as a planning and excellent good discussion discussion of the reasonable explain the
control system. discussion of of the features features of discussion of features of
(5 marks) the features of of standard standard costing the features of standard costing
  standard costing costing as a as a planning and standard costing as a planning
  as a planning planning and control system. as a planning and control
  and control control system.   and control system.
  system.     system.  
Based on your standard (4.1 – 5 marks) (3.6 – 4 marks) (3.1 – 3.5 marks) (2.1 – 3 marks) (0 – 2 marks)
costing article, discuss the Present an Present a very Present a good Present a Unable to
relevance of standard excellent good discussion discussion of the reasonable explain the
costing as a planning and discussion of of the relevance relevance of discussion of relevance of
control system in your the relevance of of standard standard costing the relevance of standard costing
real-life case company. standard costing costing as a as a planning and standard costing as a planning
Did it satisfy the features as a planning planning and control system, as a planning and control
discussed in (i)? Why or and control control system, with or without and control system from the
why not? Include system, with with examples examples system, without case company.
examples in your answer examples provided from provided from example  
from your standard provided from the case the case provided from  
costing article. the case company. company. the case  
(5 marks) company.     company.  
Discuss what target (4.1 – 5 marks) (3.6 – 4 marks) (3.1 – 3.5 marks) (2.1 – 3 marks) (0 – 2 marks)
costing is and compare Clear, concise, A very good A good discussion Adequate Unable to
and contrast it from compelling discussion of of target costing discussion of present a
standard costing. discussion of target costing and compare and target costing proper
(5 marks) target costing and compare contrast it from and compare discussion of
  and compare and contrast it standard costing. and contrast it target costing
  and contrast it from standard   from standard and compare
  from standard costing.   costing. and contrast it
  costing.       from standard
          costing or
          confusing.
Is target costing relevant (4.1 – 5 marks) (3.6 – 4 marks) (3.1 – 3.5 marks) (2.1 – 3 marks) (0 – 2 marks)
in today’s competitive Clear, concise, Present a very Present a good Present a Unable to
and (in most cases), compelling good discussion discussion of reasonable explain of target
uncertain business discussion of of target target costing’s discussion of costing’s
environment? Explain target costing’s costing’s relevance in target costing’s relevance in
with examples from your relevance in relevance in today’s relevance in today’s
target costing article. today’s today’s competitive and today’s competitive and
(5 marks) competitive and competitive and uncertain competitive and uncertain
  uncertain uncertain business uncertain business
  business business environment, business environment
  environment, environment, with or without environment,  
  with examples with examples examples without  
  provided from provided from provided from examples  
  the article. the article. the article. provided from  
        the article.  
Based on your literature (4.1 – 5 marks) (3.6 – 4 marks) (3.1 – 3.5 marks) (2.1 – 3 marks) (0 – 2 marks)
findings (above), which of Clear, concise, A very good A good An adequate Unable to
the two systems would compelling recommenda- recommenda- recommenda- present proper
you recommend for recommenda- tion for which tion for which of tion for which recommenda-
contemporary tion for which of of the two the two systems of the two tion for which of
organisations to use for the two systems systems contemporary systems the two systems
planning purpose and contemporary contemporary organisations to contemporary contemporary
which system you would organisations to organisations to use for planning organisations organisations to
recommend for control use for planning use for planning purpose and for to use for use for planning
purpose? Explain. purpose and for purpose and for control purpose. planning purpose and for
(5 marks) control purpose. control   purpose and control purpose.
    purpose.   for control  
        purpose.  
Overall Presentation (4.1 – 5 marks) (3.6 – 4 marks) (3.1 – 3.5 marks) (2.1 – 3 marks) (0 – 2 marks)
(5 marks) Include all Include all Include all Include most Lack key
  elements and is elements and is elements and is elements and elements and is
  very well well presented. generally is adequately poorly
  presented. Writing flows presented presented. presented.
  Writing flows clearly and appropriately. Writing Writing does
  clearly and sections are Writing mostly sometimes not flow clearly
  sections are linked flows well and does not flow leaving the
  linked very effectively. sections are clearly leaving paper to seem
  effectively. Referencing is linked. the paper to disjointed.
  Referencing is of a high Referencing is in seem Referencing is
  exemplary. standard. accordance with disjointed in not in
  English is used English is used guidelines. areas. accordance with
  very effectively effectively with English is used Referencing is relevant
  and error-free. very few errors effectively with somewhat in guidelines. Basic
    present. few errors accordance English is used
      present. with with errors
        guidelines. present.
        Basic English is  
        used with  
        some errors  
        present.  
Total Marks (30)         /30

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