module booklet manag account

UK COLLEGEBUSINESS AND COMPUTING

Module BookletCourse: EDEXCEL BTEC (HND) BUSINESS

Group: Edexcel Level 4

Module: Unit 9 – Management Accounting: Costing and Budgeting

Module type: Optional

Module Code: R/601/0836

Module Credit: 15

Teaching Period: (15+6 weeks)

Level: 4 (QCF)

Contact Hours: (15*3+ 6*3 = 63)

Lecturers: 15 weeks

Revision Clinic and assignment guidance: 3 week

Feedback and assessment: 3 weeks

Module Leader: Mrs Sunita Kotta

Lecturer: Solomon Odegbesan

Start date: 1/07/2015

Day:Tuesday

Time: 6pm - 9pm

Campus: WH

Term: Summer Term

CONTENTS

1. INTRODUCTION, AIMS AND OBJECTIVES

2. MODULE OUTLINE AND TEACHING METHODS

3. READING AND COURSE PREPRATION

4. LECTURE WITH DETAILED COURSE PROGRAMME AND OBJECTIVES

5. ASSESSMENT DETAILS

1. INTRODUCTIONOrganisations operate in a very competitive and continually changing environment where effective decision making is crucial if an organisation is to survive or even be profitable. An important resource for decision making is financial information and it is important for managers to be able to interpret, analyse and evaluate this information effectively. This unit will give learners a foundation in management accounting and techniques relevant to the strategic management process. It encourages learners to explore the nature of cost-based financial data and information, the impact of the budgeting process on the organisation, and the development of cost reduction and management procedures and processes. It also focuses on the management of these costs through the use of forecasting, appraisal and financial reporting procedures. One of the main objectives of this unit is for learners to develop the confidence to apply, analyse and evaluate management and cost information.

The aim of this unit is to provide learners with the understanding and ability to use,Cost information for budgeting and forecasting purposes in the management of business.

This unit looks at the cost information, both current and future, of businesses.

It looks at how cost data is collected, compiled and analysed, and processed into information that is useful for business managers. Learners will have the opportunity to apply these principles to practice. The unit then deals with budgetary planning and control. It looks at how to prepare forecasts and budgets and to compare these to actual business results. Learners will again have practical experience of this. Finally, the unit considers different costing and budgetary systems and the causes of resulting variances, together with the possible implications and the corrective action the business will need to take.

Learners will develop the ability to judge the sources, nature, accuracy and completeness of cost-based information and influence others to make decisions that are based on well-researched options. These important decision-making skills will be enhanced further through the use and validation of forecasting techniques, the consideration of financial statements and making judgements on the validity of information sources used in the decision-making process. Learners will also apply strategies associated with determining sound management information with reference to sources of funds, the potential investment of resources and the interpretation of financial statements.

Learners will study issues of cost, responsibility and control in the contexts of management accounting and the management process.

This unit gives learners the opportunity to enhance their competency in the construction, review and evaluation of cost-based financial information, and introduces them to the analysis and control or reduction of costs in a range of situations.

Aim:

This unit will give learners a foundation in management accounting and techniques relevant to the strategic management process. It encourages learners to explore the nature of cost-based financial data and information, the impact of the budgeting process on the organization, and the development of cost reduction and management procedures and processes. It also focuses on the management of these costs through the use of forecasting, appraisal and financial reporting procedures.

This unit looks at the cost information, both current and future, of businesses. It looks at how cost data is collected, compiled and analysed, and processed into information that is useful for business managers. Learners will have the opportunity to apply these principles to practice. The unit then deals with budgetary planning and control. It looks at how to prepare forecasts and budgets and to compare these to actual business results. Learners will again have practical experience of this.

Finally, the unit considers different costing and budgetary systems and the causes of resulting variances, together with the possible implications and the corrective action the business will need to take.

Key Objectives: One of the main objectives of this unit is for learners to develop the confidence to apply, analyse and evaluate management and cost information. This unit provides the learner with the skills to apply management accounting techniques relevant to operations management in an organisational context, including forecasting, capital appraisal, budgeting, cost control and analysis.

Explain the nature and role of management accounting Identify the main users of cost and management accounting

information and discuss the needs Distinguish between financial and management accounting Explain why an understanding of finance is likely to be relevant

to ones needs Understand the accounting conventions Make decision on the use of capacity, using knowledge of the

relationship between fixed and variable costs. Discuss the purpose of costing techniques.

Learning Outcomes and assessment criteria:On successful completion of this unit a learner will:

Be able to analyse cost information within a business

Be able to propose methods to reduce costs and enhance value within a business

Be able to prepare forecasts and budgets for a business Be able to monitor performance against budgets within a

business.

Knowledge and Understanding: Differentiate between management accounting, cost

accounting and financial accounting List and describe each of the factors involved in decision

making, planning and control process Justify the view that, broadly, firms seek to maximize the

present value of future net cash inflows Explain the factors that have influenced the changes in

competitive environment Outline the key success factors that directly affect customer

satisfaction Describe the functions of management accounting system

Indicative content:

1. Be able to analyse cost information within a businessTypes of costs and classification: materials; labour; overheads; direct and indirect; fixed; variable and semi-variable Costing methods: job costing; batch costing; process costing; contract costing; service costing Cost measurement: absorption and marginal costing; traditional overhead absorption and activity-based costing; stock valuation methods (FIFO, LIFO, AVCO, standard costing) Costing as basis for pricing and stock valuation: cost plus pricing; market pricing; target costing Data collection and analysis: sampling methods and purpose; presentation of data eg tabular, diagrammatical, graphical; index number

2. Be able to propose methods to reduce costs and enhance value within a businessCost reports: preparation; comparison with other data; explanation and implication ofVariances Performance indicators: monitor and assess to identify potential improvements Quality and value: definitions and interaction; added value; total quality management

3. Be able to prepare forecasts and budgets for a businessThe budgeting process: purpose; benefits; links with organisational objectives/strategy; the budget manual; budgets as planning, coordinating, motivation and control devicesBudget preparation: limiting or key factors; master, subsidiary and functional budgets; cash budgets; the preparation of sales budget, debtors’ budgets, creditors’ budgets, production costs, raw materials and finished goods budgets Budgeting methods: incremental; zero-based; fixed and flexible Behavioural consequences of budgets: padding the budget; spending to budget; creative budgets

4 Be able to monitor performance against budgets within a business

Variances: types; analysis; calculation; possible causes; corrective actionReporting: operating statement; reconciliation of budgeted and actual resultsResponsibility centres: relevance to budgeting; identification of responsibility for variances

Programme SpecificationAccrediting Body: EDEXCEL Course: BTEC HND IN BUSINESS Unit: 9 MANAGEMENT ACCOUNTING Wk Lecture Schedule Outcome of session

Learners will be able to;

Activity/seminar and formative assessment

Resources

1 Introduction to the module. Importance of Management Accounting and reflection of the learning outcomes

Types of costs and classification

Introduction to the module, mode of assessment, awareness of the awarding body, assessment criteria and the mode of assessmentClassify different types of cost

Background of the expectations for the awarding bodyExamples and problems addressing learning outcome 1.1

Module handbook.Power point slides , study notes and whiteboard

2 Accounting for materials Value stock using FIFO, LIFO and AVCO.

Examples and problems addressing learning outcome 1.3

Power point slides , study notes and whiteboard

3 Accounting for labour and overheads Remuneration methods and calculation.Overhead allocation, apportionment and absorption, Traditional absorption costing.



4 Accounting for overheads Examples and problems addressing learning outcome


1.35 Costing methods and techniques Prepare costing using

job, batch, process, contract and service.Calculate cost using absorption and marginal costing techniques

Examples and problems addressing learning outcome 1.2 and1.3


6 Pricing Target costing, market pricing and cost-plus pricing.



7 Quality and valuePresentation of information

Define and explain the interaction between quality and cost.Use different sampling methods and understand their purpose.Present data in tabular, diagrammatical, graphical and index numbers

Examples and problems addressing learning outcome 1.4, 2.3


8 Cost reports and performance indicators Prepare cost reports, monitor and assess performance.

Case study and addressing the learning outcome 2.1 & 2.2


9 Budgeting process Explain the purpose, objectives and strategy

for budgeting.

Examples and problems

addressing

Power point slides , study notes and

whiteboard

learning outcome 3.1

10 Budget preparation Prepare sales budget, debtors budget, creditors budget, production, raw material and finished goods budget.

Examples and problems addressing learning outcome 3.2 & 3.3


11 Budgeting methods and behavioural consequences of budgets

Explain the purpose and nature of the budgeting process, spending to budget and creative budgets.



12 Standard costing and variance analysis Analyse, calculate and explain possible causes.



13 Variance reports Prepare and reconcile budgeted and actual results



14 Revision

15 Revision

16 Progress review and assignment writing workshop

17 August 2014 assignment support and revision18 Deadline for assignment submission19 Feedback

20 Feedback

Recommended text and links:Core Text: Peter Atrill - Introduction to Management accounting: Costing and Budgeting Colin Dury – Management AccountingBrammer J and Penning A — Managing Costs and Resources (Osborne Books, 2007)ISBN: 1872962440Jones M — Accounting for Non-Specialists (Wiley, 2008) ISBN: 0471495727Journals and newspapersThe financial and mainstream press can be a useful source of information, both in terms of data for case studies and background understanding.VideosA variety of videos is available covering financial topics.Websiteswww.aat.co.uk The Association of Accounting Technicianswww.accountingtechnician.co.uk Accounting Technician magazinewww.bized.ac.uk provides case studies appropriate for educational purposeswww.iasb.org.uk International Accounting Standards Board

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131415Module Leader: Mrs Sunita KottaCampus: Wentworth House and Lords HouseContact details: [email protected] Assessment:The module will be assessed meeting all the LO as specified by the awarding body, Ed Excel.Please read the instructions carefully while addressing the tasks specified. Contribution: 100% of the moduleOutline Details: Individual report approx 4000 words. Details enclosed in the assignment brief.Teaching and Learning Activities: The module tutor(s) will aim to combine lectures with tutorial activities. This environment will provide opportunities for the student to understand the course material through case study and text and to

mailto:[email protected]

apply it in a practical way. The intent is to facilitate interactive class activities, and discussion about the significant role of research in a global and local business environment.2.3 Teaching Ethos: The college’s approach towards teaching and learning is simple and effective. The main aim of UKCBC is to assist learners in maximising their potential by ensuring that they are taught clearly and effectively. This will enable students to engage in the learning environment and promote success in both their academic studies and subsequent career.2.3.1 Methods of Delivery:LECTURES:These will be developed around the key concepts as mentioned in the indicative course content and will use a range of live examples and cases from business practice to demonstrate the application of theoretical concepts. This method is primarily used to identify and explain key aspects of the subject so that learners can utilise their private study time more effectively. SEMINARS:These are in addition to the lectures. The seminars are designed to give learners the opportunity to test their understanding of the material covered in the lectures and private study with the help of reference books. This methodology usually carries a set of questions identified in advance. Seminars are interactive sessions led by the learners. This method of study gives the learner an excellent opportunity to clarify any points of difficulty with the tutor and simultaneously develop their oral communication skills.CASE STUDIES: An important learning methodology is the extensive use of case studies. They enable learners to apply the concepts that they learn in their subjects. The learners have to study the case, analyse the facts presented and arrive at conclusions and recommendations. This assists in the assessment of the learner’s ability to apply to the real world the tools and techniques of analysis which they have learnt. The case study serves as a supplement to the theoretical knowledge imparted through the course work.Plagiarism:Any act of plagiarism will be seriously dealt with according to the colleges and awarding bodies’ regulations. In this context the definition and scope of plagiarism are presented below: Plagiarism is presenting someone’s work as your won. It includes copying information directly from the web or books without referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework form another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the college procedure. (For further details please refer to the plagiarism policy and the student code of conduct.) Assessment:The module will be assessed meeting all the LO as specified by the awarding body, Ed Excel.Please read the instructions carefully while addressing the tasks specified. Contribution: 100% of the module

Outline Details: Individual report approx 4000 words. Details enclosed in the assignment brief

ASSESSEMENTUnit: 9 – MANAGEMENT ACCOUNTING : COSTING AND BUDGETINGLearning Hours: 60 Hours. Self-learning hours: 90 hours.Course: HND Business – Level 4 CREDIT VALUE: 15 CREDITSTerm:Module Leader: Mrs Sunita KottaLecturer: Solomon Odegbesan

Internal Verifier: Mr Dalton Vincent

Learners NameRegistration NumberLearners Declaration: I certify that the work submitted for this unit is my own:Signed:Hand out Date: Submission Date:

The Following Sections to be completed by the assessor:Center Name: UKCBCCenter Number:Please note that the assessors signature below denotes conformation that he/she has in no way influenced the outcome of the assessment: Assessors Name:Assessors Signature:

Has the unit been Internally Verified? Y/NDate of verification:Internal verifiers signature:Internal verifiers assignment brief:

Due DatesIssue Date Final Due Date 15th weekDue Task- 1 15/7/15 04/12/15Due Task- 2 28/7/15Due Task- 3 18/10/1

5Due Task - 4 16/11/1

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Unit Outcomes Outcome Evidence for the

criteria to pass.Assessors decision

Internal verification decision. (agree, disagree)

TASK 1You are required to carry out a research by using supportive materials like books, websites, etc., and give a feedback of the findings on P1.1, P1.2,1.3, 1.4, The answers need to be reflected to the CASE STUDY chosen for this task.P1. Be able to analyze cost information within the business ofBuccaneers Ltd

P1.1- Classify the different types of cost. How are the costs classified in the case study?

P1.1(P,M,D)

P1.1(P,M,D)

P1.2- What are the different costing methods. Identify and explain the costing method used by the org.

P1.2(P,M,D)

P1.2(P,M,D)

P1.3- How is the cost calculated, using appropriate techniques. What is the costing technique used by the org to calculate its costs

P1.3(P,M,D)

P1.3(P,M,D)

P1.4- Analyze the cost data of the org focusing on the technique used for the purpose.

P1.4(P,M,D)

P1.4(P,M,D)

Summarized Feedback for Task 1(reflecting 1.1, 1.2, 1.3, 1.4, Pass merit and distinction.)IV comments towardsTask 1

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TASK 2Choose a case study or an organization of your choice and present before the class on your findings with the help of PowerPoint presentation, followed by a word report not exceeding 1000 words. You are required to carry out a research by using supportive materials like books, websites, etc., and give a feedback of the findings on P2.1, P2.2, 2.3.P2. Be able to propose methods to reduce costs and enhance value within the business

P2.1-How are the costs reports prepared and analyzed.

P2.1(P,M,D)

P2.1(P,M,D)

P2.2- What are the various performance indicators used by the org to identify its potential improvements.

P2.2(P,M,D)

P2.2(P,M,D)

P2.3 – If you were their Management accountant what would you suggest to the org to reduce its costs, enhance value and quality?

P2.3(P,M,D)

P2.3(P,M,D)

Summarized Feedback for Task 2(reflecting 2.1, 2.2, 2.3, 2.4, Pass merit and distinction.)IV comments towardsTask 2TASK 3You are required to carry out a research by using supportive materials like books, websites, etc., and give a feedback of the findings on P3.1, P3.2, P3.3, and P3.4. The answers need to be reflected to the CASE STUDY chosen for this task. The case study will be given to you at the start of Task 3 session.TASK 3P3. Be able to prepare forecasts and budgets for a business

P3.1- Explain the purpose and nature of the budgeting process adopted.

P3.1(P,M,D)

P3.1(P,M,D)

P3.2- What is the budgeting method used and reflect its needs. Comment with your advice and suggestions.

P3.2(P,M,D)

P3.2(P,M,D)

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P3.3- How is the budget prepared, what is the method used for this purpose. Comment with the budgeting statement published in the report.

P3.3(P,M,D)

P3.3(P,M,D)

P3.4 – Illustrate the cash budget and comment on its findings.

P3.4(P,M,D)

P3.4(P,M,D)

Summarized Feedback for Task 3(reflecting 3.1, 3.2, 3.3, 3.4, Pass merit and distinction.)IV comments towardsTask 3TASK 4You are required to carry out a research by using supportive materials like books, websites, etc., and give a feedback of the findings on P4.1, P4.2, P4.3, and P4.4. The answers need to be reflected to the CASE STUDY chosen for this task. The case study will be given to you at the start of Task 4 sessionTASK 4P4. Be able to monitor performance against budgets within the business.

P4.1 How are the variances calculated? Identify possible causes and recommend corrective action.

P4.1(P,M,D)

P4.1(P,M,D)

P4.2 Reflect the operating statement and how it is reconciled with the budget and actual result. Comment on a few findings analyzing the budget and the actual.

P4.2(P,M,D)

P4.2(P,M,D)

P4.3 Comment on the report findings and address as instructed.

P4.3(P,M,D)

P4.3(P,M,D)

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Summarized Feedback for Task 4(reflecting 4.1, 4.2, 4.3, Pass merit and distinction.)IV comments towardsTask 4Merit grades awarded

M1 M2 M3 P1 P2 P3 P4

Distinction grades awarded

D1 D2 D3

Resubmit :

Any other comments

Grade given by the Assessor:Pass Merit DistinctionAssessors Signature: Date:IV Grading Check: Comments if any:AgreeDisagree Modify grade toIV signature:Date:Students feedback:

Student Signature: Date:Plagiarism:Any act of plagiarism will be seriously dealt with according to the colleges and awarding bodies’ regulations. In this context the definition and scope of plagiarism are presented below: Plagiarism is presenting someone’s work as your won. It includes copying information directly from the web or books without referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework form another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the college procedure. (For further details please refer to the plagiarism policy and the student code of conduct.)

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ASSIGNMENTTASK 1 to TASK 4: You are required to follow the instructions as specified towards each task and support with a research by using supportive materials like books, websites, etc., and give a feedback on the findings by relating your arguments to the relevant case studies as specified towards each task:

Task 1Address the case study for the purpose (soft copy on e-learning) and answer the following (approx 1000 words) P1. The student should be able to analyze cost information within the business of the chosen case study.P1.1 – Classify the different types of cost. How are the costs classified for Buccaneers Ltd?P1.2 – What are the different costing methods? Identify and explain the costing method used for the case study.P1.3 - How is the cost calculated, using appropriate techniques? What is the costing technique used to calculate its costsP1.4 - Analyze the cost data focusing on the technique used for the purpose and address the following for the information given below:

a. Allocate and apportion overheads to the three production departments

b. Deduce overhead recovery rates for each department using two different bases for each department overheads.

c. Calculate the full cost of a job with the following characteristics for the information in the case study:Direct Labour hours: Forming department 4 hours Machining department 4 hours Finishing department 1 hourMachine Hours: Forming department 1 hour

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Machining department 2 hours Finishing department 1 hour Direct Materials: Forming department £40 Machining department £9 Finishing department £4 Use whichever of the two bases of overhead recovery, deduced in (b) that you consider the more appropriate.

d. Explain why you consider the basis used in (c) to be the more appropriate.

Case study for the purpose:The manufacturing costs for Buccaneers Ltd for next year are expected to be as follows:

£ 000Direct Material: Forming department 450Machining department 100Finishing department 50

Direct Labour: Forming department 180Machining department 120Finishing department 75

Indirect Materials:Forming department 40Machining department 30Finishing department 10Administration department 10

Indirect Labour: Forming department 80Machining department 70Finishing department 60Administration department 60

Maintenance costs: 50Rent and rates 100Heating and lighting 20Building insurance 10Machinery insurance 10Depreciation of machinery 120

Total manufacturing costs 1,645

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The following additional information is available: i) All direct labour is paid £6 an hour for all hours worked.ii) The administration department renders personnel and

general services to the production departments.iii) The area of the premises in which the business manufactures

amounts to 50,000 sq m, divided as follows: Sq mForming department 20,000Machining department 15,000Finishing department 10,000

Administration department 5,000

iv) The maintenance employees are expected to divide their time between the production departments as follows:

%

Forming department 15Machining department 75Finishing department 10

v) The machine hours are expected to be as follows: HoursForming department 5,000 Machining department 15,000Finishing department 5,000

Task 2 Choose a case study or an organization of your choice and present before the class on your findings with the help of PowerPoint presentation, followed by a word report and answer the following (approx 1000 words) P2. . Be able to propose methods to reduce costs and enhance value within the business P2.1 – How are the costs reports prepared and analyzed? P2.2- What are the various performance indicators used to identify its potential improvements

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P2.3- If you were their Management accountant what would you suggest to reduce its costs, enhance value and quality?

TASK 3 Address the case study for the purpose (soft copy on e-learning) and answer the following (approx 1000 words) P3. Be able to prepare budgets for the case studyP3.1- Explain the purpose and nature of the budgeting process adopted P3.2- What is the budgeting method used for the case study and reflect its needs. Comment with your advice and suggestionsP3.3- How is the budget prepared, what is the method used for this purpose. Comment with the budgeting statement for the chosen case study. P3.4 – For the chosen case study of Antonio ltd draw up the following for the six months ending 31 December:

i) A raw materials inventories budget, showing both physical quantities and financial values.

ii) Trade payables budget.iii) A cash budget. iv) The cash budget reveals a potential cash deficiency during

October and November. Can you suggest any ways in which a modification of plans could overcome this problem?

Case study to address task 3:Antonio Ltd has planned production and sales for the next nine months as follows: Months Production in

unitsSales in Units

May 350 350June 400 400July 500 400August 600 500September 600 600October 700 650November 750 700December 750 800January 750 750

During the period, the business plans to advertise in order to generate these increases in sales. Payments for advertising of £1,000 and £1,500 will be made in July and October respectively. The selling price per unit will be £20 throughout the period. Forty % of sales are normally made on two months credit. The other 60% are settled within the month of the sale. Raw materials will be held for one month before they are taken into production. Purchases of raw materials will be on one month credit

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(buy one month, pay the next). The cost of raw materials is £8 per unit of production. Other direct production expenses, including labour, are £6 per unit of production. These will be paid in the month concerned.Various production overheads, which during the period to 30th June had run at £1,800 a month, are expected to rise to £ 2000 each month from 1st July to 31st October. These are expected to raise again from 1st

November to £2,400 a month and to remain at that level for the foreseeable future. These overheads include a steady £400 each month for depreciation. Overheads are planned to be paid 80% in the month of production and 20% in the following month. To help to meet the planned increased production, a new item of plant will be bought and delivered in august. The cost of this item is £6,600; the contract with the supplier will specify that this will be paid in three equal amounts in September, October and November. Raw materials inventories are planned to be 500 units on 1st July. The balance at the bank on the same day is planned to be £7,500.

TASK 4Address the case study for the purpose (soft copy on e-learning) and answer the following (approx 1000 words) P4. Be able to monitor performance against budgets for the chosen case study.P4.1 - How are the variances calculated? P4.2 Reflect the operating statement to deduce the budgeted profit for may and reconcile it, through variances with the actual profit in as much detail as the information provided will allow.P4.3 Comment with the report findings and state which manager should be held accountable, in the first instance, for each variance calculated. Assuming that the standards were all well set in terms of labour times and rates and materials usage and price, suggest at least one feasible reason for each of the variances that you identified for above, given what you know about the business performance for may. If it were discovered that the actual total world market demand for the business product was 10% lower that estimated when the may budget was set, explain how and why the variances what you identified in the above could be revised to provide that would be potentially more useful. Case study for the purpose:Toscanini Ltd makes a standards product, which is budgeted to sell at £4/ unit, in a competitive market. It is made by taking a budgeted 0.4 kg of material, budgeted to cost £2.40, and working on it by hand by an employee, paid a budgeted £8/hour, for a budgeted 6 minutes.

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Monthly fixed overheads are budgeted at £4, 800. The output for May was budgeted at 4000 units. The actual results for May were as follows: £ Sales revenue (3,500 units) 13,820 Materials (1,425 kg) (3,420) Labour (345 hours) (2,690) Fixed overheads (4,900) Actual operating profit 2,810 No inventories of any description existed at the beginning and end of the month. Address 4.1, 4.2, 4.3 with the relevant information.

Assignment Guidelines: Use a standard report structure, Word-process the report and use

Normal script of a proper font size 12. Produce an academic report, detailing the above issues with an

approx word limit of 4000 to 4500 words. Complete the title page and sign the statement of authenticity. The Assignment sheet should be attached in the front. Submit the document in a folder in the form of a file as well as a soft

copy on the submission date. It should be uploaded on E-Learning platform before the deadline and

submitted to -------- and sign the submission form of the college. Assignments submitted after the deadline will not be accepted unless

mitigating and may be entitled for a late fee. Collusion and Plagiarism must be avoided. Start each answer on a new page and pages should be numbered.

Highlight each question clearly. Include a Bibliography at the end of the assignment and use the

Harvard referencing system. All work should be comprehensively referenced and all sources must

be fully acknowledged, such as books and journals, websites (include the date of visit), etc.

Try to give the page numbers, publishers' details and the year of publication

In order to pass you need to address all the LO In order to get a merit you need to address the characteristics of M1,

M2,M3 In order to get a Distinction you need to address the characteristics of

D1, D2 and D3. Use a common format for the questions, for example:

Introduction (analyze the question.) Underpinning Knowledge (write about the relevant theory/points) Applied knowledge(Data Analysis) Conclusions and Recommendations (summarizing the whole scenario

keeping in view pass, merit, distinction criteria.)

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Student feedback form with the Assessment Grid indicating their pass, merit and distinction:Name: Registration Number:Unit: Management accountingOutcomes/criteria: Indicative

characteristicsPossible evidence

Feedback

P1. Be able to analyze cost information within the businessP2. Be able to propose methods to reduce costs and enhance value within the businessP3. Be able to prepare forecasts and budgets for a businessP4. . Be able to monitor performance against budgets within the business .

As per the assessment criteria specified for pass

Do

Do

Do

Task 1

Task 2

Task 3

Task 4

Merit Description:M. Identify and apply strategies to find appropriate solutions.

. Relevant theories and techniques have been applied.. Effective judgments have been made.. Complex problems with more than one variable have been explored.. An effective approach to study and research has been used.

M2. Select/ design and apply appropriate methods/ techniques.

. A range of methods and techniques has been applied.. A range of sources of information used.

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. The selection of methods and techniques justified.. Complex information/data have been synthesized and processed..Appropriate learning methods/ techniques applied.

M3. Present and communicate appropriate findings.

. Appropriate structure and approach has been used.. Logical and coherent arguments have been presented. Technical language accurately used.. A range of methods of presentation has been used.. Familiar and unfamiliar contexts have been used.. It is appropriate for familiar and unfamiliar audiences.

Distinction Description:D1. Use critical reflection to evaluate own work and justify valid conclusion.

. Synthesis has been used to generate and justify valid conclusions. The validity of results has been judged. Self-criticism of approach has taken place.. Evaluation has taken place using defined criteria. Realistic improvements have been proposed against defined characteristics for success.

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D2. Take responsibility for managing and organizing activities.

Autonomy/independence demonstratedSubstantial activities/projects or investigations have been planned, managed and organized.The unforeseen has been accommodated.The importance of interdependence has been recognized.

D3. Demonstrate convergent, lateral and creative thinking

Ideas generate and decisions takenConvergent and lateral thinking have been appliedCapacity for innovation and creative thought has been used.Receptiveness to new ideas has demonstrated.Unfamiliar contexts have been applied.

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