HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T2 2020 HOLMES INSTITUTE FACULTY OF HIGHER...

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HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T2 2020

HOLMES INSTITUTE

FACULTY OF
HIGHER EDUCATION

Assessment Details and Submission Guidelines
Trimester T2 2020
Unit Code HI5017
Unit Title Managerial Accounting
Assessment Type Assignment
Assessment Title Individual Assignment
Purpose of the
assessment (with ULO
Mapping)
Students are required to develop their understanding of the purpose and use of
management accounting systems, especially costing systems and its usefulness in
aiding managers make informed decisions. You are to critically evaluate the literature
(using journal articles) to analyse the practical use of management accounting
systems by contemporary companies, in terms of their relevance to the real-life
companies’ decision-making by managers and achievement of business goals (ULO 1,
3 & 4)
Weight 30% of the total assessments
Total Marks 30
Word limit Not more than 3,000 words. Please use “word count” and include in the assignment.
Due Date Week 9 Thursday 17th of September at 11.59 p.m.
Submission
Guidelines
• All work must be submitted on Blackboard by the due date along with a completed
Assignment Cover Page.
• The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm
margins on all four sides of your page with appropriate section headings and page
numbers.
• Reference sources must be cited in the text of the report, and listed appropriately
at the end in a reference list using Harvard referencing style.
• It is the responsibility of the student who is submitting the work, to ensure that the
work is in fact he
his own work. Incorporating another’s work or ideas into one’s
own work without appropriate acknowledgement is an academic offence. Students
should submit all assignments for plagiarism checking on Blackboard before final
submission in the subject. For further details, please refer to the Unit Outline and
Student Handbook.

Page 2 of 8
HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T2 2020
Individual Assignment Specifications
Purpose:
This assignment aims at developing your understanding of the purpose and use of management accounting
systems, in particular costing systems, and its usefulness in aiding managers make informed decisions. You are
to critically evaluate the literature (using journal articles) to analyse the practical use of management
accounting systems by contemporary companies, in terms of their relevance to the real-life companies’
decision-making by managers and achievement of business goals.

Assignment Task: You are required to conduct a literature search and critically review a costing
system in this assignment.

Part A

Choose ONE of the costing systems studied in this unit from the list below, and answer the
questions that follow:
• Job Costing
• Process Costing
• Operation Costing (Hy
id Costing)
• Activity-based Costing (ABC)

Questions:
1. Briefly discuss the features of your chosen costing system. (3 marks)

2. Identify 2 specific Australian companies that your chosen costing system is suitable for, and explain why.
(3 marks)

3. Discuss two potential uses of the cost information for decision-making, to the managers in each of the 2
organisations selected in Q2 above. (3 marks)

Part B

Choose one peer reviewed journal article (from any country) on the: Use of your chosen costing system in a
eal-life organisation (i.e. a case-based empirical study). The article should be published between 2005 –
2020. Choose your article only after you have accessed and reviewed several relevant articles, and then
choose the best article that will answer the questions below.

Questions:
1. Based on your chosen costing article,
iefly summarise how the costing system was designed and
implemented in your real-life organisation. (3 marks)

2. Based on your chosen costing article, did the costing system in the study satisfy the features discussed in
Part A (Q1)? Why or why not? Include examples in your answer from your costing article. (5 marks)

3. Based on your chosen costing article, how useful was the cost information to the internal users in the
organisation? Discuss with examples from your costing article. (5 marks)

4. Based on your literature findings, state two key lessons that would inform contemporary organisations
about the practical use of your chosen costing system. (5 marks)

Page 3 of 8
HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T2 2020

Additional Information:
a) You are encouraged to choose the journal article from the following Accounting and Management
Accounting Journals:
Accounting, Auditing and Accountability Journal;
Journal of Management Accounting Research
Journal of Applied Management Accounting Research

) You can access these journals in ProQuest Database by clicking on the above links. Log in details for
ProQuest are - Username: Holmes2004; Password: Holmes. These journals can also be accessed via the
ProQuest Database link available via the Student Login page in the Holmes website. You can also use Google
Scholar. Don’t use Google.

Assignment Structure:
The report should include the following components:
a. Assignment cover page clearly stating your name and student number
. Abstract (one paragraph)
c. Table of contents
d. A
ief introduction or overview of what the report is about
e. Body of the assignment with appropriate section headings
f. Conclusion
g. List of References.

Your chosen journal article must be uploaded (as a separate PDF file) together with your assignment (as a
MS WORD file format) in Blackboard under the folder .
5 marks will be deducted if you do not submit the journal article with your assignment.

https:
search.proquest.com
usiness/publication/publications_31671?accountid=30552
https:
search.proquest.com
usiness/publication/31820/citation/6A92B992C7C74BC4PQ/3?accountid=30552
https:
search.proquest.com
usiness/publication/publications_40108?accountid=30552
Page 4 of 8
HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T2 2020
Academic Integrity

Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral
to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, all assessment tasks
need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity
eaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please
consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these
esources can also be found through the Study Sills link on Blackboard.

Academic Integrity
eaches are a serious offence punishable by penalties that may range from deduction of
marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of
course enrolment.

Table 1: Six categories of Academic Integrity
eaches
Plagiarism Reproducing the work of someone else without attribution. When a student
submits their own work on multiple occasions this is known as self-plagiarism.
Collusion Working with one or more other individuals to complete an assignment, in a
way that is not authorised.
Copying Reproducing and submitting the work of another student, with or without
their knowledge. If a student fails to take reasonable precautions to prevent
their own original work from being copied, this may also be considered an
offence.
Impersonation Falsely presenting oneself, or engaging someone else to present as oneself, in
an in-person examination.
Contract cheating Contracting a third party to complete an assessment task, generally in
exchange for money or other manner of payment.
Data fa
ication and
falsification
Manipulating or inventing data with the intent of supporting false conclusions,
including manipulating images.
Source: INQAAHE, 2020

Page 5 of 8
HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T2 2020
Marking Criteria
Marking Criteria Weighting
Part A
1. Briefly discuss the features of your chosen costing system. 3%
2. Identify 2 specific Australian organisations that your chosen costing system is
suitable to, and explain why.
3%
3. Discuss the potential uses of the cost information for decision-making, to the
managers in each of the 2 organisations selected in Q2 above.
3%
Part B
1. Based on your chosen costing article,
iefly summarise how the costing system was
designed and implemented in your real-life organisation.
3%
2. Based on your chosen costing article, did the costing system in the study satisfy the
features discussed in Part A (Q1)? Why or why not? Include examples in your answer
from your costing article.
5%
3. Based on your chosen costing article, how useful was the cost information to the
internal users in the organisation? Discuss with examples from your costing article.
5%
4. Based on your literature findings, state two key lessons that would inform
contemporary organisations about the practical use of your chosen costing system.
5%
Overall Presentation of Assignment 3%
TOTAL Weight 30%

hi5017-individual-assignment-t2-20201-w3zcy1qc.pdf

Sarabjeet · Accepted Answer

ABC
ABC
Student Name:
University Name:
Unit Name:
Date:
Contents
Part- A	3
Answer1	3
Answer 2	4
Answer 3	5
Part- B	8
Answer 1	8
Answer 2	10
Answer 3	11
Answer 4	11
References	12
Part- A
Answer1
• Activity-based cost calculation is a two-level product cost calculation method. The method first allocates costs to activities, or then allocates them to goods deped on the consumption of each activity (CGMA, 2011).
• The cost pool in the two-level approach now accumulates activity-associated costs
• Activity-based cost calculation is depending on the following concepts: products customer activities, moreover activities use resources
In 1988, Cooper and Kaplan promoted an activity-based costing (ABC) system to overcome the barriers of traditional costing systems and the cost allocation problem of "peanut butter spread". Bragg, (2017) found that the recognition and development of ABC was stimulated by Cooper and Kaplan, and was persuaded to a large extent, particularly in manufacturing. People think that this is a solution to the organization's management accounting needs. It is also said that activity-based costing is the most important management accounting development. Indeed, some people describe it as a panacea for solving various problems. While then, ABC has played an important role as a management tool and has become popular among academicians, practitioners and the industry.
ABC was originally designed by George Staubus of the United States in the 1980s. ABC is promoted as a system that can decrease the arbitrary cost allocation level associated with traditional cost accounting systems and lead to more accurate product costs. Most of the authors often describe ABC as an easy but influential word that is correct. The accuracy of product costing is critical, especially in decision-making and reducing the organization's cost reduction as well as profitability purposes. 
Chisambara, (2012) pointed out that the ultimate goal of ABC as a cost-sharing system is to track the production costs incurred in the production of goods or services, and to track the activities as accurately as possible. ABC is not only the basis for calculating accurate product costs, but also plays a vital role in the management of management costs. 
Answer 2
 RMS company and ALS limited are the organizations are been chosen by me which uses ACTIVITY BASED COSTING:
Experienced business visionaries emphasize that in order to gain a place in a demanding market, you need to continue to look for arrangements. In today's business, executives are in a dynamic and evolving state, and therefore require a wide range of talents. This means you need to search for current tools to help you achieve better results. In addition, if you do not focus on cost checks, it is difficult to expect better results (Das, 2020). When the complex assembly form makes cost bookkeeping lack of dynamic data sources, it is a wise idea to choose activity-based costing (ABC). This idea is different from calculating unit cost. It is closely related to the cost of checking association procedures and exercises. The basic task of the model is to provide reliable data from various fields, such as creation or transaction, based on project collection, customer collection or provider collection (Anderson and Kaplan, 2004).
Activity Based Costing
In this strategy, various cost drivers are used to allocate rebates to various projects. ABC counting depends on practice or basic procedure. The basic suspicion of the tool used to measure the unit cost is to allocate expenditures to the responsible community and specific programs. For example, the basic assumption of ABC is that the circuit returns expenditures from the activities performed by the association, thus making the project (Das, 2020). The roundabout fee is expressed in a simple way, just like the conventional full cost accounting and variable cost accounting, because they will be distributed to the project based on the accounting report. This strategy is a powerful and effective dynamic key tool. Therefore, activity-based costing is applicable to this RMS and ALS (research and manufacturing company) (Das, 2020). Activity-based costing is an IS that allocates cost resources for services or products depend on activity consumption. Therefore, ABC can help managers get more correct and update information of costing to evaluate the cost budgets to increase profits. In addition, ABC can also provide companies with accurate cost information to make better business performance (CGMA, 2011). To enable product identification as well as prevent unnecessary or inefficient activities to reduce costs and enter incorrect market. Since the 1980s, ABC has become the most famous or well known. This is because the traditional costing method is less and less relevant to the distribution cost, and it has increased its impact on the British Robin Cooper and the Americans. 
Answer 3
ABC system determines the cost in two stages. The first is to accumulate the manufacturing overhead consumed by each activity; the second is to determine the resource and activity consumption, and then allocate the expenses to goods, services and consumer. ABC is an option to traditional cost accounting.

HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T2 2020 HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester T2 2020 Unit Code HI5017 Unit Title...

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