Cost Accenting Group Report Assignment-
Outcomes -
a) Select devise and apply different types of cost allocation and explain their different roles for supporting strategic managerial decision making.
b) Design and prepare budgets and explain feedback analysis and strategic control.
c) Discuss various approaches to performance evaluation and control in various types of organisations and devised and evaluate simple indicators of performance.
d) Discuss the changing role of management accounting.
Purpose -
This assignment is designed to enhance learners' understanding on the roles of managerial accounting in a manufacturing company.
Description -
Students are required to work in a group of 2 - 3 students in the performance of this written report. Students must register for their group with the lecturer during the first three weeks of the trimester and are not allowed to change group members afterward.
Every group for this assignment is required to select a MANUFACTURING COMPANY and then write a report to evaluate the roles of managerial accounting in its business operation, by using their latest financial statements (annual reports), company website information, and relevant research materials if necessary. The prescribed textbook for this unit should also be utilized.
- Hint: The selected manufacturing company can be from Australia, USA, EU, China, Japan or others. The scope and focus of its manufacturing operation can be local, national or multinational.
- You have to be clever and pragmatic on selecting the company. It has to be large, substantial and must have available information for desk research. You are required to explore and collect information on the company to complete this assignment. Additional research is also required for this written report.
It is highly expected from you to purport the following perspective of the report:
a) Introduce the selected manufacturing company:
1. Company's name
2. Establishment year
3. Vision & mission
4. Managerial Highlights
5. Products focused
6. Line function & staff function
b) Identify and describe the value chain of the manufacturing company
c) Explain the process of Planning in the manufacturing company for three issues:
1. Which business strategies are adopted?
2. How does it position itself among other existing competitors and potential rivals?
3. What information is significantly required for its manufacturing &/or selling budgeting?
d) Analyse the process of Controlling in the manufacturing company for two issues:
1. How can it monitor its manufacturing &/or selling plans?
2. How can the manufacturing company implement a balanced scorecard in its performance management system across the four perspectives: financial, customer, process, and learning & growth?
e) Provide two situations in which Decision Making is presented in the manufacturing company. Examples of decision making can be: buy or produce input material; continue or drop a business segment; focus nationally or expand internationally, improve a current product or create a new one, raise more fund through borrowing or capital issuing, target a specific customer group or diversify them, maintain current pricing policy or change it, computerise operation activities or not... (These are just examples, you can think of your own situations).
f) Summary of interesting findings and any recommendation/prediction.
1. Summarize and present three significant points of the discussion topics in your report in a coherent manner.
2. Provide recommendation or forecast of the manufacturing company.
Words - 2000 (excluding references, appendix and tables).