Cost Accounting
Three
parts to this assignment.
PART A – The
first part requires you to prepare a basic master budget. The general
description and the data for the assignment is to be obtained from the
associated assignment data file. This file is in MS Excel format and requires
you to enter your student number to generate the assignment data. The data
generated is unique to each student. The basic format and requirements of the
assignment are the same for each student, however the different data sets will
result in a substantially different solution for each student.
The data file for
this assignment is available on the ACT202 Learnline site in the same section
from where you obtained this document.
If you are unable
to access this file in MS Excel format, then please contact the Lecturer who
will provide you with a copy of the data in PDF format. All that is required
for this part is the Budget Schedules. They can be produced in any format that
you feel is convienent however the final submission must be in readable3 PDF
format. (Word count for this part is not relevant)
(50% of the
assignment assessment marks)
PART B – The
second part requires you to write a brief report addressing the Sales Manager’s
concerns, using some of the concepts covered in Topic One of this unit
specifically and concepts covered in Topics 2 to 5 more generally, AND the
information provided on the Cost Structures identified in the budget prepared
for Part A and in the data provided in the data file for this assignment, and
any additional calculations using that existing data that you feel are
relevant. Your report should also include a discussion of the impact of the
Production Manager’s intended investment in new manufacturing capacity. Support
your report with relevant calculations.
The answer for
this part will not be significantly affected by the accuracy or otherwise of
your answer to Part A. The appropriateness (or otherwise) of this report will
be based on the analysis you undertake using the data you produce in Part A and
the additional calculations you provide for this part.
Note that you
should restrict your report to those concepts specifically covered in Topic One
and more generally in Topics 2 to 5, and not discuss the current political
situation, environmental issues, or the marketing of alternate energy sources
etc. or other interesting but otherwise irrelevant issues.
You are required
to provide a report of approx 500 words4 or less (excluding attachments and
references), accompanied by relevant calculations. The report can be produced
in any formation that you feel is convienent however the final submission must
be in readable3 PDF format. Using a Report style is recommended but not
compulsory. (25% of the assignment assessment marks)
PART C – The
third part requires you to research a behavioural and communication issue
related to budgeting and performance evaluation. You are required to refer to
the outcomes of Parts A & B to illustrate your answer. An effective budget
converts the goals and objectives of an organization into data. The budget
serves as a blueprint for management’s plans. The budget is also the basis for
control. Management performance can be evaluated by comparing actual results
with the budget.
Thus, creating
the budget is essential for the successful operation of an organization.
Finding the
resources to implement the budget – that is, moving from a starting point to
the ultimate goal – requires the extensive use of human resources. How managers
perceive their roles in the process of budgeting is important to the successful
use of the budget as an effective tool for planning, communicating, and
controlling.
Required:
Discuss the
behavioural implications of planning and control when a company’s management
employs:
An imposed
budgetary approach
A participative
budgetary approach
Illustrate your
discussion with reference to your report for Part B, discussing how the Sales
Manager and the Production Manager might respond to the various outcomes of
Part B, if the budget had been imposed and contrast that with how they might
respond (if differently) had the budget been prepared using a participative
budgetary approach.
You are required
to provide an answer of approx 500 words5 or less (excluding attachments and
references), accompanied by relevant calculations. The report can be produced
in any format that you feel is convienent however the final submission must be
in readable6 PDF format. The style of your essay or report is not important
provided your ideas, arguments and/or recommendations etc are clear and
understandable and properly referenced using a accepted reference technique7
(25% of the assignment assessment marks)
(PDF output must
be properly paginated, using appropriate page orientation and all columns in tables
and schedules should be presented on the page.)
(Essays or
reports that significantly exceed the recommended length will not be given any
additional marks. A concise clear answer will attract more marks than a long
rambling one.)
