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-yxz0feut.pdf

Yash · Accepted Answer

PART A
1.) For the purpose of this assignment, I am choosing Activity Based Costing (ABC). 
ABC is a bookkeeping strategy used for relegating effectively the level of resources used  & OH expenses caused to deliver the specific item.
Under ABC framework, a few exercises are liable for the assurance of cost of an item. 
The highlights or attributes of ABC are quickly clarified underneath. 
1. The complete expense is separated into two sorts: - (1) fixed expense
                                                                                       (2)  variable cost 
In the manufacturing unit, this bifurcation assist in providing quality data to plan a reasonable cost framework.
2. The best possible qualification is made on the bifurcation of various costs.
3. The cost norms of direct are OK assortment related and events related.
4. OH had been allocated to an item on the basis of the fitting cost driver.
5. Behavioral Pattern of cost were directed by cost drivers.
According to Kalpan & Cooper, "Drivers used to allocate cost related to volume should restrained itself from allotting high stretch cost which varies to things for which clarification that should be drawn out factor costs were driven by the unusualness & collection of work practices instead of quantity". 
Consequently, the establishments for the OH costs should be seen as per the sorts of activities related with the Prodn and Service Dept.
ABC method follows the following objectivity: 
1. It is useful in amending the erroneous cost data. 
2. It facilitates to allocate OHs considering the activity.
3. It assist the management in taking timely & quality decision. 
The advancement of Activity Based Costing includes the accompanying advances. 
1. The primary useful regions of the association have been distinguished.
2. Each practical territory has separate exercises. Out of numerous exercises, the primary exercises of each useful zones have been distinguished. 
3. The help exercises of fundamental exercises have been recognized. For instance: fixes & upkeep of machine etc. 
4. The components which are affecting the fundamental exercises & backing exercises must be recognized.
5. The information identifying with Material, labour & OH expenses have been gathered precisely. 
6. The expense of every movement is additionally discover so as to ascertain the expense of every item independently. 
Accordingly, ABC follows the chronological order i.e. it commences from assets to processes after that from processes to particular item by tagging that specific item.
The accompanying advances are engaged with executing Activity Based Costing to accomplish the ideal outcomes. 
1. Recognize the utilitarian regions of association. 
2. Recognize the principle exercises of each practical territories. 
3. Apportion regular roundabout expenses to each useful regions on reasonable premise. 
4. Recognize the most reasonable cost driver in every movement under practical regions. 
5. Setting up the announcement of use on action insightful. 
6. Contrast this announcement & the worth expansion movement savvy. 
7. Discover the exercises which are to be disposed of or improved for better execution of the association.
2.) 
Associations in specific endeavors unite a collection of commitments of manufacturing product or organizations which are their customer. It moreover resulted a wide extent of costs. Right when these associations can clearly distribute costs to the most fitting thing or activity, the arranging & cost the heads at these associations staggeringly grows. This cost task fills in as the reason of A B C. Despite the way that activity based costing started in the amassing industry, a couple of various undertakings by & by utilize this procedure. 
A B C lays down the processes which bifurcates the fixed & administrative expenses to a very downward level identifying the item to which it can be allocated independently. A B C distributes costs to that components & activities which had a prompt status & consistent outcomes. The procedure by then apportions that activity driven costs to the specific things or organizations that uses the activities in real terms.
Manufacturing
A B C commences by gathering as an unrivaled methodology for distributing OH costs than the ordinary strategy for getting benefits from direct labour. It aims to shift from traditional work to robotization & increased capital-heightened workplaces & cycles, manufacturing firms required a procedure that the higher qualified the latest working condition. Producers use A B C when OH expenses discover a critical degree of all in all expenses. Producers also use it to produce item contributions of changing sum & unpredictability or produce a broad bunch of things needing distinctive support maintain levels.
Development 
In enormous business & mechanical turn of events, various associations show properties that warrant the use of development based costing. They have important OH, for instance, advancement bond purchases, tremendous rigging & equipment & talented staff. They similarly for the most part either have an extent of complex help lines – for example, two appropriation place advancement exercises & two office outside redesigns of different sizes – or a varying extent of endeavors.

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