Module code and title:

MGBAF1MA1

Management Accounting I

Module leader:

Anisa Maljee

Assignment No. and type:

Report 2,000 words

Assessment weighting:

50%

Submission time and date:

On or before: Friday 26^th May 2023, 2.00pm

Target feedback time and date:

3 weeks from the date of final submission

Assignment task

This assignment involves preparing a written report on your learning development and presentation on your reflection in academic studies.

This assignment has been designed to provide you with an opportunity to demonstrate your achievement of the following module learning outcomes:

LO 1

Understand and describe the budgeting process, apply appropriate budgeting techniques and explain their significance in the business environment.

LO 3

Use standard costing systems to determine and control an organisation’s performance and it identify correct action.

Task requirements

OVERVIEW

This report will encourage the students to apply both theoretical and practical assessment using Microsoft Word and Excel Spreadsheet. The knowledge and skills gained in Management Accounting I will build onto Management Accounting II and will help learners address their skills in the budgeting process and costing systems. The report will further develop on students’ knowledge, enhance their accounting skills as well as address practical skills to find resolutions to business problems. The assessment must be submitted in a report format.

DESCRIPTION OF THE TASK – WHAT YOU ARE BEING ASKED TO DO?

The submission of a written report addresses accounting and finance-related business issues, applying various research materials (2,000 words).

Accounting Report (2,000 words) – 50%

Task

You are a trainee management accountant and have been asked to produce a report for senior management at Tudor Ltd. Provide responses to this assessment in report format in Microsoft Word and provide screenshots, when required from the Excel Spreadsheet.

Scenario

Tudor Ltd is a small organisation which sells laptops. They have been selling 80 Laptops a month at a price of £1,800 each. The laptops cost Tudor Ltd £1,200 each. The company has now launched a new model with added features and better performance. The sale price to customers will remain the same. The cost price will also not change for Tudor Ltd. From the beginning of January 2022, sales are intended to increase at a rate of 30 Laptops each month until June end, where sales will be 260 units a month and continue to be this. Operating cost includes depreciation of £1,000 a month. Below are the operating costs:

Tudor Ltd does not receive any credit for operating costs. Shelves will be required, they will be brought, installed and paid for in April costing £13,000. Tax of £23,000 will be due at the end of March. Tudor Ltd expects trade receivable will amount to two month’s sales revenue. They plan to have enough inventory at the end of each month to meet customers demand for the following month. The Laptop manufacturer provides one month’s credit to Tudor Ltd. Tudor Ltd’s statement of financial position is provided below:

Tudor Ltd – Statement of Financial Position at 31 December 2021

£000

ASSETS

Non-Current Assets 20,600

Current Assets

Inventory 132,000

Trade Receivables 288,000

Cash ­ –

Total Current Assets 420,000

Total Assets 440,600

Equity and Liabilities

Equity

Share Capital (55p ordinary shares) 100,000

Retained Profit 127,600

Total Equity 227,600

Current Liabilities

Trade Payables 132,000

Taxation 23,000

Overdraft 58,000

Total Current Liabilities 213,000

Total Equity and Liabilities 440,600

Required:

Discuss the main different roles and responsibilities between Management Accountant and Financial Accountant of Tudor Ltd.

Describe how Tudor Ltd can improve its business performance by using break-even analysis.

Define standard costing and list its advantages and disadvantages.

Recommend how using standard costing can help Tudor Ltd control its costs and performance measurement.

Define budgeting and discuss the interrelationship of various budgets (Sales, Overhead, Capital Expenditure, Direct Labour and Raw Materials Purchases).

By using the data and information provided in the question, using an excel spreadsheet and its functions prepare a cash budget for Tudor Ltd which shows the cash balance or required overdraft for the next six months ending 30 June. Notes are required for Credit Sales, Trade Payables and Operating Expenses. Provide Screenshots of this on the report on a word document.

(Marks will be awarded for the presentation style of the report, excel spreadsheet and formulas used appropriately).

Learning outcomes:

The assessment covers learning outcomes 1 and 3.

Recommendations:

The assessment needs to be addressed to Senior Management at Tudor Ltd. You will provide advise as a

trainee management accountant.

From:

To:

Subject:

Date:

-Introduction (150 words)

(Brief aim and induction of what is going to be discussed in the report).

Main body discussions (1,700 words)

–Discuss the main different roles and responsibilities between Management Accountant and Financial Accountant of Tudor Ltd (280 words).

-Describe how Tudor Ltd can improve its business performance by using break-even analysis

(280 words).

-Define standard costing and list its advantages and disadvantages (280 words).

-Recommend how using standard costing can help Tudor Ltd control its cost and performance

measurement (280 words).

-Define budgeting and discuss the interrelationship of various budgets (Sales, Overhead,

Capital Expenditure, Direct Labour and Raw Materials Purchases) (280 words).

-Using an excel spreadsheet and its functions prepare a cash budget for Tudor Ltd which

shows the cash balance or required overdraft for the next six months ending 30 June. Notes

are required for (Credit Sales, Trade Payables and Operating Expenses). Provide

Screenshots of this on the report on a word document (300 words).

-Show screenshots of the formulas used to calculate the cash balance on the report on a word

document.

-Conclusion (150 words)

(Briefly mention what was said in the report. Discuss your own understandings of, comments

on, arguments and contributions to the topic and any other important issues which you think

should be addressed).

Further details:

This is an individual assessment of around 2,000 words (limited between -10% – +10%).

Your assignment should be completed and submitted in by 2:00pm, Friday 26th May, 2023.

Please note that the CCCU/GBS policy on cheating collusion and plagiarism is applied to this

piece of work.

Referencing system

Minimum 10 references are needed. Make sure that all your references are in CCCU Harvard

style. Please read and use the provided EXTRA READINGS on Moodle efficiently.

Marking Guide:

Marks are awarded with respect to the following assessment criteria (See Appendix 1).

Referencing and research requirements

Please reference your work according to the Canterbury Harvard style guidance, this you can be accessed on Moodle.

How your work will be assessed

Your work will be assessed on the extent to which it demonstrates your achievement of the stated learning outcomes for this assessment report (see above) and against other key criteria, as defined in the University’s institutional grading descriptors. If it is appropriate to the format of your assignment and your subject area, a proportion of your marks will also depend upon your use of academic referencing conventions.

This assessment will be marked according to the grading descriptors for Level 4

Submission details

This assessment should be submitted electronically via Moodle (module lecturers will discuss this process with you during class time).

Please ensure that your work has been saved in an appropriate file format (Microsoft Word, Excel or PowerPoint, or PDF are the most widely used; Google Docs is also accepted). Your file must also contain at least 20 words of text, consist of fewer than 400 pages and be less than 40MB in size.

You can submit your work as many times as you like before the submission date. If you do submit your work more than once, your earlier submission will be replaced by the most recent version.

Once you have submitted your work, you will receive a digital receipt as proof of submission, which will be sent to your forwarded e-mail address (provided you have set this up). Please keep this receipt for future reference, along with the original electronic copy of your assignment

You are reminded of the University’s regulations on academic misconduct, which can be viewed on the University website: Academic Misconduct Policy. In submitting your assignment, you are acknowledging that you have read and understood these regulations.

Submission date and time

This report should be submitted to Moodle: 2:00pm, Friday 26^th May, 2023.

You should submit all work for summative assessments by the above deadline. Work submitted up to three working days after the deadline will be accepted and marked, but the mark will be capped at the pass mark (40%) unless there is a valid reason for the late submission (i.e., having been granted an extension to the deadline or a deferral under the terms of the Extenuating Circumstances Policy).

Work submitted more than three working days after the deadline without a valid reason will not be accepted and will be recorded as 0% RN (refer, no work submitted).

For more information, please refer to: Student Handbook on Moodle.

Feedback and marks for this assignment will be available in three weeks from the deadline.

Provision at Level 4 is designed to prepare students for higher levels of education. At the end of Level 4, students will be expected to demonstrate the acquisition of level 4 skills, knowledge and understanding necessary to embark on a higher education programme of study at Level 5. In accordance with the national Qualifications and Credit Framework (QCF), this includes the ability to identify and use relevant understanding, methods and skills to complete tasks and address problems that, while well defined, have a measure of complexity. It includes taking responsibility for initiating and completing tasks and procedures as well as exercising autonomy and judgement within limited parameters. It also reflects awareness of different perspectives or approaches within an area of study or work.

A pass mark (40% or above) demonstrates achievement of all learning outcomes associated with the module assessment

Assessment category

Introductory knowledge and understanding of the basic underlying concepts and principles of the subject(s)

Cognitive and intellectual skills

Reading and referencing

Presentation, style and structure

Work that significantly exceeds the specified word limit may be penalized

Pass Mark

90%-100%

Excellent work showing flawless understanding of the basic underlying concepts and principles of the subject(s), resulting in students being fully prepared for study at Level 4.

Insightful and accurate interpretation and evaluation of information and ideas, based on an excellent application of the most appropriate skills, methods and procedures. Work shows full awareness of the nature of the area of study and different perspectives or approaches within it

Insightful and effective use of a carefully selected range of relevant reading. Consistently accurate application of referencing.

Exemplary presentation of work that is fluent and flawless throughout.

80%-89%

High quality work showing fluent understanding of the basic underlying concepts and principles of the subject(s), resulting in students being fully prepared for study at Level 4.

Excellent interpretation and evaluation of information and ideas, employing highly appropriate skills, methods and procedures. Work shows strong awareness of the nature of the area of study and different perspectives or approaches within it

Consistent and balanced engagement with a refined selection of many types of relevant reading. Consistently accurate application of referencing.

Highly effective presentation of work that is coherently structured and clearly expressed throughout.

70% – 79%

Commendable work showing detailed understanding of the basic underlying concepts and principles of the subject(s), resulting in students being highly prepared for study at Level 4.

Effective interpretation and evaluation of information and ideas, showing effective use of appropriate skills, methods and procedures. Work shows well established awareness of the nature of the area of study and different perspectives or approaches within it.

Consistent engagement with a wide range of relevant reading. Consistently accurate application of referencing.

Well-formed presentation of work that is coherently structured and clearly expressed throughout.

60% – 69%

Work of solid quality showing competent and consistent understanding of the basic underlying concepts and principles of the subject(s), resulting in students being well prepared for study at Level 4.

Good interpretation and evaluation of information and ideas, using appropriate skills, methods and procedures. Work shows sound awareness of the nature of the area of study and different perspectives or approaches within it.

Engagement with a wide range of relevant reading. Sound application of referencing, with no inaccuracies or inconsistencies.

Competent presentation of work in terms of structure and clarity of expression.

Level 3

Introductory knowledge

Cognitive and intellectual skills

Reading and referencing

Presentation, style and structure

Pass mark

50% – 59%

Adequate work showing understanding of the basic underlying concepts and principles of the subject(s), resulting in students being prepared for study at Level 4, but lacking depth and breadth.

Adequate interpretation and evaluation of information and ideas, largely using appropriate skills, methods and procedures. Work shows awareness of the nature of the area of study and an emerging awareness of different perspectives or approaches within it.

Engagement with an appropriate range of reading beyond essential texts. Referencing may show minor inaccuracies or inconsistencies.

Work is structured in a largely coherent manner and is for the most part clearly expressed.

40% – 49%

Simple factual approach showing understanding of the basic underlying concepts and principles of the subject(s), resulting in students being largely prepared for study at Level 4. Narrow or misguided selection of material, with elements missing or inaccurate.

A limited interpretation and evaluation of information and ideas, showing emerging awareness of the nature of the area of study and different perspectives or approaches within it, although not always logical or coherent and with inaccuracies.

Evidence of reading, largely confined to essential texts, but mainly reliant on taught elements. Referencing may show inaccuracies and/or inconsistencies.

Ordered presentation in which relevant ideas / concepts are reasonably expressed.

Marginal fail

35% – 39%

Work shows limited but fragmentary understanding of the basic underlying concepts and principles of the subject(s), for example through inaccuracies, inclusion of irrelevant material and/or absence of appropriate information.

Weak and at times flawed interpretation and evaluation of information and ideas, resulting in largely descriptive work that shows lack of awareness of the nature of the area of study and different perspectives or approaches within it.

Poor engagement with essential texts and no evidence of wider reading. Heavily reliant on taught elements. Inconsistent and weak use of referencing.

Work is loosely, and at times incoherently, structured, with information and ideas often poorly expressed.

Fail

20% – 34%

Unsatisfactory work showing weak and flawed understanding of the basic underlying concepts and principles of the subject(s), for example through serious inaccuracies, inclusion of a significant amount of irrelevant material and/or absence of appropriate information.

Very weak interpretation and evaluation of information and ideas, resulting in descriptive work that is often illogical, invalid or irrelevant. Little awareness of the nature of the area of study and no appreciation of different perspectives or approaches within it.

Limited evidence of reading and/or reliance on inappropriate sources. Limited engagement with taught elements. Very poor use of referencing.

Work is poorly presented in a disjointed and incoherent manner. Information and ideas are very poorly expressed, with weak English and/or inappropriate style.

< 20%

Highly unsatisfactory work showing major gaps in understanding of the basic underlying concepts and principles of the subject(s). Inclusion of largely irrelevant material, absence of appropriate information and significant inaccuracies.

Work is largely irrelevant or inaccurate, characterised by descriptive text and unsubstantiated generalisations. Minimal or no use of evidence to back up views, showing complete lack of awareness of the nature of the area of study and different perspectives or approaches within it.

No evidence of reading or engagement with taught elements. Absent or incoherent referencing.

Work is extremely disorganised, with much of the content confusingly expressed. Very poor English and/or very inappropriate style.