MA 515 Managerial Accounting XXXXXXXXXXPage 4...

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MA 515 Managerial Accounting XXXXXXXXXXPage 4 of 5
    Assessment Details and Submission Guidelines
GA/MA515 Managerial Accounting
    School
    Business
    Course Name
    Master of Professional Accounting (MPA)
    Unit Code
    GA/MA515
    Unit Title
    Managerial Accounting
    Trimeste
    Trimester 2, 2020
    Assessment Autho

Dr Moho
ot Ali
    Assessment Type
    Report
    Assessment Title
    Assessment Task 3 – Individual
    Unit Learning Outcomes Addressed:
    The purpose of this assignment is to assess the following Learning Outcomes:
a. Demonstrate advanced and integrated understanding the function and role of management accounting in the contemporary business environment.
. Demonstrate advanced and integrated understanding of management accounting and explain appropriate approaches to generating cost information.
    Weight
    10%
    Total Marks
    100
    Word limit
    1200
    Release Date
    Week Fou
    Due Date
    Week 7
    Submission Guidelines
    · This assignment should be completed individually.
· All work must be submitted on Moodle by the due date along with a completed Assignment Cover Page.
· The assignment must be in MS Word format, 1.5 spacing, 11-pt Cali
i (Body) font and 2 cm margins on all four sides of your page with appropriate section headings.
· Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using APA 6th edition for the School of Business.
    Extension
    If an extension of time to submit work is required, an Application for Special Consideration and supporting documentation must be submitted directly to the School's Administration Officer via your MIT AMS login
[https:
online.mit.edu.au/ams/default.aspx?ReturnUrl=%2fams%2f]. You must submit this application no later than three working days after the due date of the specific piece of assessment or the examination for which you are seeking Special Consideration. Further information is available at:
http:
www.mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/specialconsiderationdeferment
    Academic Misconduct
    Academic Misconduct is a serious offence. Depending on the seriousness of the case, penalties can vary from a written warning or zero marks to exclusion from the course or rescinding the degree. Students should make themselves familiar with the full policy and procedure available at: http:
www.mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/Plagiarism-Academic-Misconduct-Policy-Procedure. For further information, please refer to the Academic Integrity Section in your Unit Description.
Assessment Cover Sheet
    Student ID Numbe
s:
    Student Last name/s:
    Student First name/s:



    Course:
    School:
    Unit code:
    Unit title:
    Due date:
    Date submitted:
    Campus:
    Lecturer’s Name:
    Tutor:
    Student Declaration
I/We declare and certify that:
1. the work contained in this assessment is my/our own work/group work, except where acknowledgement of sources is made;
2. this assessment has not been submitted previously for academic credit in this or any other course;
3. I/we have read MIT’s Plagiarism and Academic Misconduct Policy and Procedure, and I/we understand the consequences of engaging in plagiarism, collusion and contract cheating;
4. a copy of the original assignment is retained by me/us and that I/we may be required to submit the original assignment to the Lecturer and/or Unit Co-ordinator upon request;
I/we have not plagiarised the work of others or participated in unauthorised collaboration or contract cheating when preparing this assessment.
    MIT ID
    Signature
    Date



Assignment Description
Role of Management accounting has been changing since its inception. It has been evolved in its cu
ent roles through a long journey proving its worth in the managerial decisions. It is no more confined only with its traditional budgetary role. It is now providing much more important decision inputs in setting business strategies particularly in the consistently changing business environments.
Required:
You are required to explain the following in your report:
1. Given an analysis on the traditional and contemporary roles of the Managerial Accounting.
2. Explain the roles of management accountants in an organization.
3. Examine the use of contemporary management accounting tools to help business in taking strategic decisions particularly in the changing environment.
This assignment must be written/structured in the form of a ‘business report’. That is, it must have a/an;
(a) Executive summary (between 100 words).
(b) Introduction.
(c) Body that addresses all the requirements – see above 1-3.
(d) Conclusion that sums up the mains issues of this assignment.
(e) Reference list containing all cited works.
(f) Proper English Grammar, appearance, format, etc.
At least 2 recognized journal articles should be cited in addition to the text and other recommended books mentioned in the UD.
Langfield-Smith, K., Smith, D., Andon, P., Hilton, R., & Thorne, H XXXXXXXXXXManagement Accounting: Information for Creating and Managing Value 8e. McGraw-Hill Higher Education (Australia) North Ryde NSW.
Marking criteria:
GA/MA515 Managerial Accounting /Semester T2, 2020, Individual Assignment
    Name:

    Student Number

    Assessment Criteria
    Total Marks
    Marks awarded
    Criterion 1 - Structure and Clarity of the Report/Assignment
· introductory paragraph
· logical flow of clarity and structure of ideas and arguments
· appropriate use of paragraph and headings to explain and discuss ideas
· appropriate concluding paragraph

3
2
2
3

    Total marks for criterion 1
    10

    Criterion 2 - Body/contents
· Given an analysis on the traditional and contemporary roles of the Managerial Accounting.
· Explain the roles of management accountants in an organization.
· Examine the use of contemporary management accounting tools to help business in taking strategic decisions particularly in the changing environment.

20
17
XXXXXXXXXX

    Total marks for criterion 2
    57

    Criterion 3 - Research and Analysis
· quality of research undertaken
· accuracy and depth of analysis
· appropriate use of in-text and end text referencing
· quality of information sources
· appendices

7
8
5
5
3

    Total marks for criterion 3
    28

    Criterion 4 - Presentation
· layout
· formatting
· spelling/gramma
· proof read
· professional format

1
1
1
1
1

    Total marks for criterion 4
    5

    Total marks
    100

    Total marks
    20

Other Comments
Using Technology for Assessment
    Rationale
    Activities
    Technological tools selected

· Industry knowledge & skills
· reflection on learning
· feedback on performance
· practice of critical thinking

· check for plagiarism
· problem-based learning
    · online forum on Moodle
· Turnitin
© MIT Lasted Updated: November, 2019            T1-2020
    Lasted Updated: 8/8/2020

ma515-individual-assignment-description-t2-2020mod-zji5rbzd.docx

Soumyadeep · Accepted Answer

Master of Professional Accounting (MPA): MA515 Trimester 2, 2020: Managerial Accounting 
Name
ID
Lecturer Name
Course ID and Title
Date
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Abstract
The era of globalization has given rise to a constant metamorphosis of the traditional management accountant role. Management accountants are facing new roles and new challenges in a dynamic environment. Accounting has evolved from just recording and analysing numbers to its current status as a profession to meet the needs for measuring economic and financial activity and communicating this information to the relevant stakeholders to facilitate rational decision making process (Johnson & Kaplan 1987). Several researchers have propagated that management accounting has played a significant role in organizations even before 1900s. During the past few decades, management accounting played a more important role in decision making for the managers because it gives them useful information in targets setting, performance monitoring and systematically improve the efficiency and effectiveness of the organizations in reaching its goals persistently and create operations and process to add value within the organization (Ramli, Zainuddin, Sulaiman, & Muda, 2013).
Table of Contents
Introduction	4
Analysis on the Traditional and Contemporary Roles of Managerial Accounting	4
Role of Management Accountant in an organization	5
Use of Contemporary Management Accounting Tools to Help Business in Taking Strategic Decisions Particularly in the Changing Environment	6
Conclusion	7
References	8
Introduction
The concept of accounting has existed since time immemorial when people began trading. The practice of accounting evolved around 500 years ago when a famous mathematician and monk, Lica Pacioli, formulated the basics of double entry record keeping system (Thompson, 1991). Industrial revolution saw processes outsourced to large companies and an accounting system was established to control the processes regulate the transactions and processes. Driven by the push from management to find out efficient ways to control the cost of production, traditional management accounting came into existence. Traditional management accounting techniques helped companies improve operations and make profit by tracking the actual performance of a business against expectations. But in reality, these techniques were not able to capture the daily performance of the business because lack of tools. With globalization and rapidly changing business landscape the growth of the service sector, the emergence of new industries, the growth of e-commerce, the development of auto manufacturing and lean manufacturing, the request of greater product innovation and faster response time presented several internal and external challenges to traditional management accounting. Therefore, contemporary management accounting tools were developed by adapting new techniques and concepts (Maria, 2009). 
Analysis on the Traditional and Contemporary Roles of Managerial Accounting 
Traditional management accounting techniques 
Traditional management accounting includes the use of performance measures like variance analysis and return on investment for planning and budgeting, control, breakeven analysis, profit reports for BU and divisions and analysis of relationship cost-profit-volume to make decisions. (Chenhall and Langfield-Smith, 1998) 
1. Budgeting: Planning and budgeting helps an enterprise to set estimates of revenues and expenditures. Thus developing a budget forms a basic but critical step in planning any business activity. This is directly related to setting strategic goals and objectives for the entire enterprise and plan activities accordingly. Significantly, budgetary control helps to direct operational It facilitates forward outlook and helps establishing a control system to identify short-term problems helping in better coordination among various departments and motivation of employee. (). 
2. Controlling- Return On Investment (ROI) play a major role in large organizations. in gaining more knowledge and thus gain domination over the managerial labor processes. The ROI measure helped in new proposals for developing manufacturing facilities and accordingly assisted in the appropriate allocation of funds among competing product lines (Kaplan, 1984). From the perspective pf profitability of a business, ROI gives an idea on the return an investor can expect to earn on the money he is investing and as per threshold, decide whether to invest or not. This is also useful in as portfolio projects to compare returns from different projects. 
3. Analysis of cost-profit-volume (CVP) and breakeven analysis-CVP analysis helps managers take better informed decisions by providing objective information based on statistical models which helps the decision making process with easy to interpret and use probabilities. This gives a future direction to the managers.

MA 515 Managerial Accounting XXXXXXXXXXPage 4 of 5 Assessment Details and Submission Guidelines GA/MA515 Managerial Accounting School Business Course Name Master of Professional Accounting (MPA) Unit...

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