HE Assessment submissionAcademic year: 2020/21Location: Portland PlaceAssignment number: 1 of 1Student name:Assignment name: Management AccountingStudent ID/number:Module number and title: H/508/0489 Management Accounting Unit 5Fit to sit declaration I confirm that I am fit to sit this assessment. Student signature…………………………………Date………………….Module coordinator’s name: Ambrish JoijodeAssignment set by: Candice EnabuleleAssessor name/names: Justice Osafo Date stamp: … Continue reading “Management Accounting | My Assignment Tutor”
HE Assessment submissionAcademic year: 2020/21Location: Portland PlaceAssignment number: 1 of 1Student name:Assignment name: Management AccountingStudent ID/number:Module number and title: H/508/0489 Management Accounting Unit 5Fit to sit declaration I confirm that I am fit to sit this assessment. Student signature…………………………………Date………………….Module coordinator’s name: Ambrish JoijodeAssignment set by: Candice EnabuleleAssessor name/names: Justice Osafo Date stamp: Centre check signature: Ajoijode Date: 24.09.2020 Nescot check signature: Naomi Williams Date: 24/11/20Assignment issue date: 18.03.2021Formative submission: 30.04.2021Submission due date: 07.05.2021Academic conduct Work submitted for assessment must be your own, if authorship is misrepresented this may be considered to be academic misconduct. Academic misconduct can be considered to be any act whereby a candidate seeks to obtain an unfair advantage for themselves or another candidate. The penalties for academic misconduct can be serious. Examples of academic misconduct (not exhaustive) are as follows; Plagiarism; defined broadly as the unacknowledged use of the work of another person. Including words, images, artwork, computer generated work (including Internet sources), thoughts, inventions and/or discoveries whether published or not.Using online sites such as Spinbot, Check Plagiarism, Paraphrasing Tool, SeoMagnifer, Article Rewriter or any such other sites that offer a similar service to reword work to avoid plagiarism detection.Fabrication; falsification of results or evidence, for example, experiments, interviews, observations or other forms of empirical research and investigation.Collusion; working collaboratively with others in the preparation or production of material submitted for assessment where not explicitly permitted by programme documentation.Misrepresentation; falsification of degree of participation or responsibility for shared work submitted for assessment.Authenticity declaration I have read the above and confirm that the work submitted is my own. All material for which I am not the author (published or unpublished) has been clearly identified, attributed to others, fully acknowledged and reference made to the original sources. I understand that the College has the right to submit my work to further checks for originality if deemed necessary. Student signature………………………………………………………………………………………………………….Date…………………….. I am unwell and/or have been affected by unforeseen circumstances [delete as appropriate] during or immediately prior to this assessment or examination. However, I choose to continue to take this assessment or examination and I have drawn this to the attention of the assessor/invigilator. Student signature…………………………………………………………………………………………………………..Date……………………. Assessor/invigilator name……………. Assessor/invigilator signature………………….Date…………………… Submission arrangements All work for submission must be signed in using an electronic signature via weblearnAll assignments must be submitted through Turnitin failure to do so will result in your work being unmarked. Tutors declaration: Whilst marking this work I have duly checked that there is no variations in writing style compared to the students normal submissions, grammar and spelling have been identified in the work and to the best of my knowledge the student has not used any paraphrasing tools to complete this work. Provisional Grade ….. ……….……………. Tutor’s signature…………………………. Date………………………. Note this grade is provisional until agreed by the Examination BoardAssessor Feedback related to grading criteria: Turnitin % ………………………………………. Areas of Improvement: Action: (referrals only) Student’s Comments: What grade are you aiming for: Feedback received from Lecturer: Yes/No Student signature;_________________________ Date:___________ Date of resubmission (where required) Assignment Brief and Guidance Scenario You are a senior management accountant for a medium-sized enterprise in the manufacturing sector called Eastern Engineering Co. Ltd. The company has recruited graduate management trainees and you have been asked by your line manager to prepare a study note on the role and function of the management accounts department, covering the management accounting systems operating in the organisation as well as the range of techniques used. The study note will contain three different tasks as outlined below. Task 1 The first task requires you to produce a written business report that demonstrates your subject knowledge. The report will include: A critical evaluation of how Management Accounting systems and Management Accounting reporting are integrated within the organisational processes of your enterprise (D1).An evaluation of the benefits of the Management Accounting systems and their application within an organisational context (M1).An explanation of the principles of management accounting and why it is important to integrate management accounting systems within an organisation. You will furthermore provide an explanation of different techniques and methods used for management accounting reporting (P1, P2). Task 2 The second task requires you to illustrate your capability in producing financial reports based on one of the products. This should be a continuation of your report from Task 1. You will produce a set of financial reports that accurately apply and interpret data for a range of complex business activities (D2). A range ofmanagement accounting techniques will be applied to produce appropriate financial reporting documents (M2). You will calculate costs using appropriate techniques of cost analysis to prepare an income statement using marginal and absorption costs (P3). Problem 1 The following details have been extracted from EECL’s budgets. Selling price per unit £140 Variable production costs per unit £45 Fixed costs per unit £32 The budgeted fixed production cost per unit was based on a normal capacity of 11,000 units per month. Actual details for the months of January and February are given below- January February ———————————————————————————————————– Production volume units 10000 11500 Sales volume units 9800 11200 Selling price per unit 135 140 Variable production cost per unit 45 45 Total fixed production costs 350,000 340,000 There was no closing inventory at the end of the month. Required: 1) You are required to produce an income statement to calculate the actual profit for January and February using absorption costing. You should assume that any under/over absorption of fixed overheads is debited /credited to the income statement each month. 2)The actual profit figure for the month of January using marginal costing was £532,000. Using appropriate calculations, state why there is a difference between the actual profit figures for January using marginal costing and absorption costing. 3) Produce other relevant financial reports that accurately apply and interpret data for a range of business activities. Task 3 The third task is a continuation of the study material which will teach the management trainees to evaluate how planning tools for accounting help to solve problems and support organisations with sustainable success (D3). This will include an explanation of the advantages and disadvantages of the budgetary tools by analysing of the use of different planning tools and their application for preparing and forecasting budgets (P4, M3). The study material will go onto look at how to respond to financial problems, and how management accounting can lead organisation to sustainable success (M4). This will include a comparison of how organisations are adapting management systems to respond to financial problems (P5). Submission Format: Your submission must be in the form of an individual written business report. This should be written in a concise, formal business style using single spacing and Arial font size 12. You are required to make use of headings, paragraphs and subsections as appropriate, and all work must be supported with research and referenced using the Harvard referencing system. Please provide a bibliography/reference list using the Harvard referencing system. The recommended word limit is 3000-4000 words, although you will not be penalised for exceeding the total word limit. Please note that details of the Learning Outcomes and Assessment Criteria for this unit should not be included in your report. Recommended Resources Drury, C. (2015) Management and Cost Accounting. 9th Ed. Cengage Learning. EDMONDS, T. and OLDS, P. (2013) Fundamental Managerial Accounting Concepts. 7th Ed. Maidenhead: McGraw-Hill.Horngren, C., Sunden, G., Stratton, W., Burgstalher, D. and Schatzberg, J. (2013) Introduction to Management Accounting. Global Ed. Harlow: Pearson. (This text is available electronically and is supported by access to an online course)Seal, W. et al (2014) Management Accounting. 5th Ed. Maidenhead: McGraw-Hill. Please click on the link to see Pearson Course Specification: Click to access btec-higher-nationals-business-specification.pdf Assessment Criteria Learning Outcomes and Assessment CriteriaPassMeritDistinctionLO1 Demonstrate an understanding of management accounting systems D1 Critically evaluate how management accounting systems and management accounting reporting is integrated within organisational processes.P1 Explain management accounting and give the essential requirements of different types of management accounting systems. P2 Explain different methods used for management accounting reporting.M1 Evaluate the benefits of management accounting systems and their application within an organisational context.LO2 Apply a range of management accounting techniques D2 Produce financial reports that accurately apply and interpret data for a range of business activities.P3 Calculate costs using appropriate techniques of cost analysis to prepare an income statement using marginal and absorption costs.M2 Accurately apply a range of management accounting techniques and produce appropriate financial reporting documents.LO3 Explain the use of planning tools used in management accounting LO3 & 4 D3 Evaluate how planning tools for accounting respond appropriately to solving financial problems to lead organisations to sustainable success. P4 Explain the advantages and disadvantages of different types of planning tools used for budgetary control.M3 Analyse the use of different planning tools and their application for preparing and forecasting budgets.LO4 Compare ways in which organisations could use management accounting to respond to financial problemsP5 Compare how organisations are adapting management accounting systems to respond to financial problems.M4 Analyse how, in responding to financial problems, management accounting can lead organisations to sustainable success.
