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HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester T1 2020 Unit Code HI5017 Unit Title Managerial Accounting Assessment Type Assignment Assessment...

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HOLMES INSTITUTE
FACULTY OF
HIGHER EDUCATION


Assessment Details and Submission Guidelines
Trimester T1 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, 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 decision-making by managers and achievement of business goals (ULO 1,2,3,4)
Weight 30% of the total assessments
Total Marks 30
Word limit Not more than 3,000 words. Please use “word count” and include in assignment.
Due Date Week 9 Sunday the 31st May 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 6
HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020





HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020
Individual Assignment Specifications
Purpose:
This assignment aims at developing your understanding of the purpose and use of management accounting
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 decision-making by managers and achievement
of business goals.
Assignment Task:
Journal Article Critique (30 Marks)
You are required to conduct a literature search and discussion in this assignment.
You are to choose a peer reviewed journal article (from any country) on the:
-Use of Budgeting as a management technique for managing resources.

The article should be published between 2010 – 2020. Choose your article only after you have accessed
several relevant articles, and then choose the best articles that will answer the assignment question below.

Required: Critically evaluate the relevance and challenges of budgeting systems by answering the 5 questions
elow:

Questions:
1. Briefly discuss the budgeting process. (5 marks)
2. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies
the purpose of planning, controlling and evaluating performance. (5 marks)
3. The two widely used practices in preparing budgets are ‘top down’ budgeting and ‘bottom up’
udgeting. Identify and explain the practice adopted by the organisation discussed in your selected
journal article and further explain the behavioural implications of adopted practice. (5 marks)
4. Based on your literature findings (above), critically evaluate the comment that ‘traditional budgeting
practices are constraint on creativity, and the time and energy spent on budget formulation is better
spent elsewhere’.

5. Based on your literature findings (above), would you recommend budgeting for contemporary
organisations for planning and control purpose? Explain (5 marks)
Additional Information:
a) You are encouraged to choose the journal article from the following Accounting and Management
Accounting Journals:
Accounting, Auditing and Accountability Journal;
https:
search.proquest.com
usiness/publication/publications_31671?accountid=30552
https:
search.proquest.com
usiness/publication/publications_31671?accountid=30552
Page 3 of 6
HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020
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.
c) No student can choose the same article as another student from the same class, else both students may
eceive a zero mark, at the Lecturer’s discretion.
d) The 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 articles with your assignment.
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.
Marking Criteria
Marking Criteria Weighting
Journal Article Critique
1. Briefly discuss the purposes of budgeting process. (5 marks) 5%
2. Based on your selected journal article, discuss citing examples whether the
udgeting process satisfies the purpose of planning, controlling and evaluating
performance. (5 marks)
5%
3. The two widely used practices in preparing budgets are ‘top down’ budgeting
and ‘bottom up’ budgeting. Identify and explain the practice adopted by the
organisation discussed in your selected journal article and further explain the
ehavioural implications of adopted practice. (5 marks)
5%
4. Based on your literature findings (above), critically evaluate the comment that
‘traditional budgeting practices are constraint on creativity, and the time and
energy spent on budget formulation is better spent elsewhere’. (5 marks)
5%
5. Based on your literature findings (above), would you recommend the use of
udgeting for contemporary organisations for planning and control purpose?
Explain (5 marks)
5%
Overall Presentation of Assignment 5%
TOTAL Weight 30%


https:
search.proquest.com
usiness/publication/31820/citation/6A92B992C7C74BC4PQ/3?accountid=30552
https:
search.proquest.com
usiness/publication/31820/citation/6A92B992C7C74BC4PQ/3?accountid=30552
https:
search.proquest.com
usiness/publication/publications_40108?accountid=30552
https:
search.proquest.com
usiness/publication/publications_40108?accountid=30552
Page 4 of 6
HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020
Marking Ru
ic
Excellent Very Good Good Satisfactory Unsatisfactory
Journal Article Critique
Briefly discuss the
purposes of budgeting
process (5 marks)
XXXXXXXXXXmarks)
Present an
excellent
discussion of the
purposes of
udgeting
process.
XXXXXXXXXXmarks)
Present a very
good discussion
of the features of
udgeting
process.
XXXXXXXXXXmarks)
Present a good
discussion of the
features of
udgeting
process.
(2.1 – 3 marks)
Present a
easonable
discussion of the
features of
udgeting
process.
(0 - 2 marks)
Unable to
explain the
features of
udgeting
process.
Based on your selected
journal article, discuss
citing examples whether
the budgeting process
satisfies the purpose of
planning, controlling and
evaluating performance.
(5 marks)
XXXXXXXXXXmarks)
Present an
excellent
discussion of the
elevance of
udgeting
process as a
planning,
control and
evaluation
system, with
examples
provided from
the organisation
discussed in the
selected journal
article
XXXXXXXXXXmarks)
Present a very
good discussion
of the relevance
of budgeting
process as a
planning, control
and evaluation
system, with
examples
provided from
the organisation
discussed in the
selected journal
XXXXXXXXXXmarks)
Present a good
discussion of the
elevance of
udgeting
process as a
planning, control
and evaluation
system, with
examples
provided from the
organisation
discussed in the
selected journal
XXXXXXXXXXmarks)
Present a
easonable
discussion of the
elevance of
udgeting
process as a
planning,
control and
evaluation
system, with
examples
provided from
the organisation
discussed in the
selected journal
company.
(0 - 2 marks)
Unable to
explain the
elevance of
udgeting
process as a
planning, control
and evaluation
system, with
examples
provided from
the organisation
discussed in the
selected journal
The two widely used
practices in preparing
udgets are ‘top
down’ budgeting and
‘bottom up’
udgeting. Identify
and explain the
practice adopted by
the organisation
discussed in your
selected journal article
and
Answered Same Day May 28, 2021 HI5017

Solution

Abhishek answered on May 29 2021
134 Votes
Running Head: HI5017 — MANAGERIAL ACCOUNTING    1
HI5017 — MANAGERIAL ACCOUNTING         3
HI5017 — MANAGERIAL ACCOUNTING
NAME AND STUDENT NUMBER: ____________________
Abstract
The report has been done on the concept of the budgeting and its implications in the respective organisations. The report highlights the various norms and the considerations it will be taken into for the purpose of the work. The features had given a proper alignment for the whole study.
Table of Contents
Abstract    2
Introduction    4
Answer to Question 1    4
Answer to Question 2    5
Answer to Question 3    6
Answer to Question 4    8
Answer to Question 5    9
Conclusion    10
References    12
Introduction
    The report is based on the one of the most vital part of the organisation is the concept of the budgeting. The main purpose for choosing this topic as a part of the discussion is to identify its relevance and challenges in the cu
ent scenario. The topic is being
oken into various parts. A better explanation will be provided for each of thing demanded from the paper. First, the concept and the discussion of the budgeting processes have been there.
In the next part of the report, how this budgeting has been inte
elated and regulated with the purpose of the controlling, planning and performance management will be given in details. The report will be further identifying the adoptions, which has been required by the organisations. The behavioural implications of the adoption will be discussed well. Additionally, an answer would be given, how the budgeting will reflect on creativity and formulation along with a suitable conclusion.
Answer to Question 1    
As already discussed in the previous stanza, the term budgeting is the most significant for the organisations. It has its purpose of its own. The purpose of budgeting process is to provide a model of how the businesses might perform for the organisations. The model many have been ca
ied out for the purposes of the financial aspects (Gachoka, Aduda, Kaijage & Okiro, 2018). The purpose of the budgeting helps in the determination of the strategies, events plans of a particular project. The interactive and the diagnostic budgeting have been taken into view. For example, in Czech Firms, construction of the business plan, a manager attempts to forecast income and expenditure and calculate its profitability in a yearly basis.
    To accomplish purposes, the Interactive budgeting process aims in attaining of several objectives (Cuganesan, 2017). First, it helps in the prognostication of the firm’s sales of the future and looking in to the matters of the cost of production and other expenses of the firm. This will help to have the calculations and the earnings of the desired income. It will also help in the minimising the possibility of the losses of the business. The budgeting processes helps in keeping a note of the export and the import facilities, revenues and the terms of the investments.
The Diagnostic budgeting process, which has been followed by the Czech Firms, is firstly setting of the realistic goals. These goals will be used for the making of the smart spending choices. Next is the identification of the income and the expenses, which has been done in a yearly wise manner. The income and the expenses have been related to the production and the manufacturing processes. This purpose of the processes of the budgeting is also used for the designing of the budget. The processes have also led to the putting of the plan in the actions.
Answer to Question 2
    Based on the journal article, it be said that the process of the budgeting satisfies the purpose of the planning. It has been done through the mechanism theories. The citing examples, which can be given for this is that, in Czech Firms involves the future profitability as the earning a reasonable return is used as a primary company objectives. The company, at first, devises methods to deal with the uncertainty of the future. The purpose of budgeting has led to the chalking out of the plans in order to meet the crisis, which the company has been faced previously (Pousthomis et al., 2017). For example, cost of power, falls suddenly, which has been suddenly adjusted by lowering of the budgets.
    The different concepts of the Budgeting of the Czech firms such as the interactive and the diagnostic aimed at encouraging the dialogue and leaning and used for the product innovations. This has been done in a systematic way and with the use of the contingency theory in order for the development of hypothesis. The budgeting processes have been done with the partial settlement of the empirical survey of the data and through the interactive usages of the data. This planning has involved the frequency budget preparation, which is used for the contingency factors such as the perceived environmental uncertainly and strategies.
    The purpose of thee budgeting processes helps in the controlling of the Czech firms by facilitating the interactive use of the budgets concerned. This can be fruitful enough for the controlling of the strategic change, esurient of the liquidity or through the identification and analysing of the sales trends. Interactive budgeting processes use the timely data and they are used for the facilitations of the discussion where the information of the company has been truly shared (Popesko, Dokulil & Hrabec, 2017). The...
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