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ACCFIN4051 Strategic Management Accounting

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Question:

Task One -  Essay

LO1: Demonstrate an understanding of management accounting systems

This task offers you an opportunity to achieve LO1: – P1, P2, M1 and D1.

Scenario: 

Being a Junior Management Accountant at Zara, your role is to deliver in creating management accounting systems for quick reporting to different clients over a two year period. In the light of explanation above, you are required to write an essay in which you :

P1: Explain management accounting and give the essential requirements of different types of management accounting systems that could be used by Zara.

P2: Explain different methods used for management accounting reporting

P2:  Explain different methods used for management accounting reporting

Bill advertised a printing press in a specialist trade journal for £100,000. Cathy wrote to Bill offering to buy it for £80,000. Bill replied by return of post saying he would accept £90,000. When he heard nothing from Cathy,

Bill wrote again saying he would accept £80,000. Bill wrote specifically to Liza offering for sale an office computer for £550. The morning that she received the letter Liza wrote to Bill agreeing to buy for the asking price, she posted the letter later that day.

After she had posted the letter, but before it was delivered, Liza changed her mind and sent Bill a fax asking him to ignore the letter when it arrived.

Bill advertised a printing press in a specialist trade journal for £100,000. Cathy wrote to Bill offering to buy it for £80,000. Bill replied by return of post saying he would accept £90,000. When he heard nothing from Cathy,

Bill wrote again saying he would accept £80,000. Bill wrote specifically to Liza offering for sale an office computer for £550. The morning that she received the letter Liza wrote to Bill agreeing to buy for the asking price, she posted the letter later that day.

After she had posted the letter, but before it was delivered, Liza changed her mind and sent Bill a fax asking him to ignore the letter when it arrived.

 

Task Two:  Report

LO2:  Apply a range of management accounting techniques

Scenario:

 To produce T-Shirts. Zara has provided the following budgeted information.

Direct material (per unit)

£45   

Direct production labour (per unit at £6.00 per hour)

4hours  

Packing boxes

£1each  

Dispatch dept labour (per 10 boxes packed) at £30.00 per hour

1 hour    

 

Fixed overhead absorption (if absorption costing is applied to be based on planned production quantities)

Production dept Absorbed at a rate of £7 per labour hour

Dispatch dept Absorbed at a rate of £6 per unit packed

Unit selling price £100 per unit  

Planned production and sales for the next period are as follows.                                        

Units Produced

15000 units   

Units Sold

14600 units  

 

 

Task Three- Creating a Plan

LO3: Explain the use of planning tools used in management accounting

LO4: Compare ways in which organisations could use management accounting to respond to financial problems

Scenario: This task offers you an opportunity to achieve LO3: P4, M3, D3 and LO4: P5, M4 and D3

As a Junior Management Accountant for Zara, advise the business by writing a memo in which you ;

Explain the advantages and disadvantages of different types of planning tools used for budgetary control. P4

Compare how organisations are adapting management accounting systems to respond to financial problems. P5

 
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My Assignment Help. (2021). Strategic Management Accounting. Retrieved from https://myassignmenthelp.com/free-samples/accfin4051-strategic-management-accounting/system-collects-data.html.

My Assignment Help (2021) Strategic Management Accounting [Online]. Available from: https://myassignmenthelp.com/free-samples/accfin4051-strategic-management-accounting/system-collects-data.html
[Accessed 25 September 2021].

My Assignment Help. 'Strategic Management Accounting' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/accfin4051-strategic-management-accounting/system-collects-data.html> accessed 25 September 2021.

My Assignment Help. Strategic Management Accounting [Internet]. My Assignment Help. 2021 [cited 25 September 2021]. Available from: https://myassignmenthelp.com/free-samples/accfin4051-strategic-management-accounting/system-collects-data.html.


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