Coursework Assignment Brief Semester: C16 Module Code: PM201/PT201 Module Title: Management Accounting Programme: BSc (Honours) Level: Level 5 Awarding Body: University Module Leader: Format: Report Presentation: No Any special requirements: All work should be submitted on the Student Portal along with an acceptable Turnitin Report. Word Limit: 2,000 words (with 10% plus or minus leeway) Deadline date for submission: Thursday 18/7/2016 Learning outcomes to be examined in this assessment: The ability to: Indicate the main purposes of management accounting and its relevance to the management of organisations. Evaluate the main cost structures of organisations and methods of their calculation. Determine appropriate methods of calculating break-even, profitability and capital input costs. Percentage of marks awarded for module: This assignment is worth 50% of the total marks for the module Assessment criteria: Explanatory comments on the assessment criteria Maximum marks for each section Content, style, relevance, originality: Clear demonstration of rigorous research from recognised authoritative sources. Audience focus. 10% Format, referencing, bibliography: Harvard 10% Constructive critical analysis, introduction, conclusion: Demonstration of a clear understanding of the issues. Use of academic models. 80% Candidates must clearly label their ID Number on additional separate reference, formula or answer sheets. Assignment Task: You are appointed as the management accountant of a company which has diversified activities in both sectors; services and manufacturing. Company intend to increase its profitability through cost controlling and pricing strategies. As a management accountant, you need to assist the board of directors in making informed decisions. Your task is to write a report to the Board of Directors that will be discussed in the next board meeting. You are required to: 1. Appraise the need for investing in the latest software of management accounting as well as financial accounting in your selected organisation, highlighting differences between management accounting and financial accounting. (300words). (Marks:15) 2. Analyse the importance of classifying costs on the basis of types, behaviour, function and relevance in business decision making, with suitable examples. (500 words) (Marks:20) 3. Evaluate the objectives of preparing budgets and provide examples for operational budgets. (650 words). (Marks:25) 4. Determine how standard costs are used for variance analysis and discuss the terms favourable and adverse variances with suitable examples. (550 words) (Marks:20) • Introduction, content, conclusion, referencing (Marks:20) Total marks for assignment: 100 Marking Scheme: What is expected within students’ answers Ability to introduce the report, by including assignment objective. Outline the differences between management accounting and financial accounting. Need to show that any investment in management accounting will add value to your business. Evaluate the need for classification of costs on the basis of types, functions, behaviour and relevance. Discussion on the objectives as well as types of operational budgets Discuss standard cost with examples for adverse and favourable variances. Demonstrate the ability to relate theory to the real world. Arguments should be clearly summed up to reach a conclusion and recommendation. Clear, professional evidence of wide research should be provided. Marks awarded Introduction 5 Argument for having investment in management accounts 5 Differences between management accounts and financial accounts 10 Four classification of the costs, graphs/charts 20 Objectives of budgeting 10 Operational budgets 15 Meaning of standard costs, types of variance analysis stating favourable and adverse variances 20 Conclusion and Recommendation 5 Content, style, relevance, originality 5 Format, referencing, bibliography 5 Total marks 100 Standard marking system for use when marking coursework assignments for all programmes at GSM. Indicative Grade UK% marks Characteristics. Distinction 70%+ Very high standard of critical analysis using appropriate conceptual frameworks. Excellent understanding and exposition of relevant issues. Clearly structured and logically developed arguments. Good awareness of nuances and complexities. Substantial evidence of well-executed independent research. Excellent evaluation and synthesis of source material. Relevant data and examples, all properly referenced. Merit 60-69% High standard of critical analysis using appropriate conceptual frameworks. Clear awareness and exposition of relevant issues. Clearly structured and logically developed argument. Awareness of nuances and complexities. Evidence of independent research. Good evaluation and synthesis of source material. Relevant data and examples, all properly referenced. Pass 50-59% Uses appropriate conceptual frameworks. Attempts analysis but includes some errors and /or omissions. Shows awareness of issues but no more than to be expected room attendance at classes. Arguments reasonably clear but underdeveloped. Insufficient evidence of independent research. Insufficient evaluation of source material. Some good use of relevant data and examples but incompletely referenced. Pass 40-49% An understanding of appropriate conceptual frameworks. Answer too descriptive and or any attempt at analysis is superficial containing errors and omission. Shows limited awareness of issues but also some confusion. Arguments not particularly clear. Limited evidence of independent research and reliance on a superficial repeat of class notes. Relatively superficial use of relevant data sources and examples and poorly referenced.