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1 HI5017 Managerial Accounting Trimester 1 2018 Individual Assignment Assessment Value: 20% Instructions: 1. This assignment is need to be submitted in accordance with assessment policy stated in the...

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1

HI5017 Managerial Accounting

Trimester 1 2018

Individual Assignment

Assessment Value: 20%
Instructions:
1. This assignment is need to be submitted in accordance with assessment policy
stated in the Unit Outline and Student Handbook.
2. 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 Subject Outline
and Student Handbook.
3. Maximum marks available: 20 marks
4. Assignment should be of 2,000 words. Please use “word count” and include in
eport. Presented in Cali
i font size 12
5. Due date of submission: Week 10, Friday at 5.00 p.m.
Format of the Report
1. You at least should have the following details:
a. Assignment Cover page clearly stating your name and student number
. A table of contents, executive summary
c. A
ief introduction or overview of what the report is about.
d. Body of the report with sections to answer the sections required and with
appropriate section headings
e. Conclusion
f. List of references.
2. Diagrams and tables clearly labelled and explained.
3. Ensure all materials are co
ectly referenced. Plagiarism will be severely
penalised.
2

Background:
You have been hired by the Board of Directors of your chosen company (ASX Listed)
to explain how ABC model can improve the management accounting information
available to its top management team (i.e. CEO and senior managers).
Required:
You are required to prepare a report to recommend about ABC model for your
company. The report should cover the followings:
a) An explanation of ABC model and its features
) An explanation of how ABC model aligns with the cu
ent goals and strategies
of the company. This explanation should include:
i) An identification of the company’s mission and objectives; and
ii) An identification of the company’s corporate strategies
iii) An explanation of how ABC model assist in achieving the company’s
strategies.
c) Provide at least two (2) recommendations about the implementation of ABC
model for your company based on your research findings.
d) Apart from ABC model, suggest one other management accounting tool
suitable for your company and justify it.
Answered Same Day May 09, 2020 HI5017

Solution

Aarti J answered on May 16 2020
133 Votes
Activity Based costing – Navitas Limited
Course Name
Course Date
Student’s Name
ACTIVITY BASED COSTING: NAVITAS LIMITED    8
Activity based costing – Navitas Limited
Table of Contents
Contents
Executive Summary    3
Introduction    4
Activity based costing    4
Features of activity based costing    5
Company’s mission and objectives    5
Company’s corporate strategies    6
How Activity based costing can assist in achieving the company’s strategies    6
Other management tools    7
Recommendation and Conclusion    8
References    9
Executive Summary
Costing system is one of the most important aspect which helps in determining the cost of different cost objects. The companies uses different costing methods for determining the cost of the objects. The different methods that is being used by the companies to determine the costs of different products includes step down methods, reciprocal method, and direct method.
Navitas Corporation limited is one of the biggest education provider of Australia. The company provides different educational services to the domestic and the overseas student, The Company has always believed in transformative power of education in the lives of the people.
For implementing the activity based costing, the company needs to analyse the activities which are involved in providing the services. For this, the company will have to analyse the cost that are associated with the courses that the company provides. The company needs to implement the costs of different activities like teaching costs, counselling costs, material costs and the other overhead costs which includes the electricity, utilities and other costs.
For the service company, I would rather recommend for the time based activity costing as it will help in the analysis of the costs much more effectively as compared to other tools to analyse the costs.
Introduction
Costing system is one of the most important aspect which helps in determining the cost of different cost objects. The companies uses different costing methods for determining the cost of the objects. The different methods that is being used by the companies to determine the costs of different products includes step down methods, reciprocal method, and direct method. One of the best methods that is being used to analyse the cost of the products includes the Activity based costing. Activity based costing has helped different organizations to determine the understanding of the costs and estimating and understanding the true value of costs of the items that are produced by the company. In this report we will analyse different aspects of activity based costing and how activity based costing can help an organization to meet its goals and objectives.
Activity based costing
In the year 1980’s activity based costing gained importance and existence and has helped different manufacturers to accurately capture the cost of the products that are manufactured. Activity based costing is the costing method which is applied on the industrial products and the other manufacturing companies which helps in applying the costs to the products that are produced by the company. For implementing the activity based costing, the company needs to analyse different activities through which the production of the product passes.
Activity based costing collects the overhead costs in the different cost pools which are related to the activities of the production and then on the basis of the cost drivers, the cost are allocated to the products. It is important for the company to think and analyse all the steps of the production that are required in the production of the products.
Features of activity based costing
Activity based costing collects the overhead costs in the different cost pools which are related to the activities of the production and then on the basis of the cost drivers, the cost are allocated to the products. It is important for the company to think and analyse all the steps of the production that are required in the production of the products. Some of the...
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