Coursework Assessment on Management Control, Performance Measurement, and Finance for Growing Busine

Analyzing and Interpreting Company Information for Limitations

1.Analyse and critically interpret company information having developed an understanding of the limitations of such information

2 Utilise management accounting tools and techniques to solve management control/performance measurement problems within organisational contexts.

3 Evaluate sources, uses and management of finance.

The coursework assessment will account for 40% of the overall mark for this unit. This will comprise of a 30-minute group presentation based on a business simulation (video recorded). And a 2,000-word group report based on your activities during the business simulation which is the basis of your presentation.

Note that the assignment requires you to work as a group member (five members per group) and you will need to advise your tutor of your team members by week two of the spring term (week beginning 15th February).

Your presentation is to be recorded (video) and submitted with your report. The report must comprise of a sample of minutes of your management meetings, actual business outcomes relative to the business plan and performance measures (i.e. key performance indicators) that you used to run the firm together with a copy of your presentation slides and notes pages.

Presentation of a review of the firm’s performance (30 minute group presentation)

The team project will be based on the management of a business using the scenario ‘growing pains’ in the business simulation SimVenture. Details of the company can be found on the ‘load scenario’ part of the SimVenture application – see scenario ‘growing pains’. A copy of SimVenture can be accessed from the University network

Scenario for the simulation

An entrepreneur, Mr Rich has bought a company that has been established for a year. During this time the foundations of the business - a decent product, a workable marketing strategy and a sound financial position has been put in place. Turnover up to now has been fair but not spectacular. The founder has been operating from his own home. You have been appointed together with other advisers (other members of your group) to form the management team. You are expected to grow the business. Your goal is to increase monthly turnover to £10,000 and monthly profit to £3,000 within 12 months.

You must stay with the market segment currently targeted by the company; Solo Businesses. Requirement for the assignment:

i) You are to create a business plan before you start to run the company. The business plan is to be used as the basis for running the company and assessing performance. The content of this plan should be appropriate for someone who has knowledge of the business and the management team, but wishes to reassure themselves that your team is competent to take control of the business.

ii) You are then required to run the business for 12 months. You should hold a board meeting after each month in which you will review the results of the previous months’ decisions and make decisions for the next month. You are required to:

a. Design a reporting package with relevant key performance indicators (kpi), which contains details of the information that you have used in order for you to make  informed decisions. You should then provide an explanation of how you have used the information in your reporting package to make informed decisions. For illustrative purposes in the example of the reporting package you can use information from one of the trading periods. This reporting package may contain financial, marketing, operational or other information.

b. Minutes of the monthly meetings which show evidence of decisions made and reasons for them (and where alternatives have been considered, why you consider that the decision that the board has taken is the right decision). You should show evidence of consideration of marketing, financial and operating decisions. (Sample minutes are to be included in your summary handout).

Suggestions

To grow the company will involve most if not all of the following steps:

• Raise money to finance the growth

• Move to larger premises

• Employ one or more members of staff

• Expand your sales and marketing to attract more customers

Please note

1.You should keep a log of your dealings with your team members throughout the period of the assessment. The log should be on issues relevant to this assignment. A sample from your log should be included in the presentation report.

2. Analyse and critically interpret company information having developed an understanding of the limitations of such information

3. Utilise management accounting tools and techniques to solve management control/performance measurement problems within organisational contexts.

4. Evaluate sources, uses and management of finance