MODULE CODE UGB253

Module Code: UGB253

Management Accounting for Business Assignment is the name of the module—deadline 7th January 2016, 2 p.m.
Knowledge
1. Examine many important models and principles in management accounting.
2. Knowledge of particular analytical abilities in crucial management accounting areas at the UK and worldwide levels.
3. Assess the function and application of management accounting theory.
Skills
4. To assist in effective decision-making within an organization, analyze the key concepts and methods of management accounting.
Learning results:
The assignment covers all module learning outcomes.
Item 1 of 6
Assignment brief: Answer all three questions
1. According to research, Activity Based Costing (ABC) has little effect on the UK manufacturing sector. Investigate this claim critically by taking the following factors into account:
1. a) Describe the fundamental distinctions between the ABC and conventional approaches.
2. b) On what theoretical foundation has ABC been criticized?
3. c) Describe the practical issues that could arise when applying ABC principles in the manufacturing business and offer suggestions for resolving them.
There should be about 1,500 words in this.
Marks 50
2. You must critically evaluate the assertion, “Strategic management accounting is concerned with providing information that will support the strategic plans and decisions made within a business.”
You should take into account the following strategic planning aspects while you do this:
1. Creating a mission, vision, and goals
2. b) Conducting a SWOT analysis of the situation
3. c) Finding and evaluating tactical possibilities
4. d) Choosing a course of action and creating long- and short-term strategies.
5. e) Performance evaluation and management
There should be about 1,200 words in this.
Marks 30 Page 2 of 6
3. Machine Makers Ltd (MM) produces specialty machinery to the customer’s specifications. Recently, just as MM was finishing up a specific machine for a customer, it learned that the customer had filed for bankruptcy, making it unlikely that MM would receive any payment. The whole sum of the contract was £110,000. Payment had to be made over time, according to the contract, as the manufacturing of the equipment advanced. For the machine, MM had already received progress payments of £60,000. According to estimates, the equipment could fetch £80,000 if sold as-is.
The machine has a second prospective buyer, but this would necessitate changes. The following are the specifics of the modifications:
1. Substance A. The necessary amount is stocked in inventory. When purchased, this item cost £6,000. To replace it would cost £6,400. The material is toxic, and scrapping it would cost the company £1,000. The company continuously uses it.
2. Material B. Coincidentally, the right amount of this material was recently ordered for another contract that was later canceled because the material was late in being delivered. The scrap value of this material, which MM does not typically use, is £4,000. An original cost tag of £10,000 was agreed upon. Although the purchase agreement for this material is legally enforceable, the supplier will accept £8,000 as payment for the delivery delay. The price to purchase on the market right now is £7,000.
3. Substance C. This substance will be needed in 20 units. The business uses this frequently. Soon, a 35-unit order will be placed for a different project. This material costs £130 per unit, but the supplier offers orders of 50 units or more a bulk discount of £10 per unit applied to the total purchase.
4. Workforce. The modifications will take 50 hours of labor to complete. Because employees are paid the standard hourly rate of £12 whether or not there is work for them to do, labor is a fixed cost for MM. Staff members who are currently unemployed can contribute 20 hours of the minimum 50 hours. The remaining 30 hours can only be provided by diverting staff members from other tasks. Customers are charged £30 per hour for this additional work.
Required:
1. (a) Explain what the phrases “costand” and “relevant costs” mean and what kinds of expenses they may cover. (6 markings)
2. (b) Outline, with supporting justifications, the lowest price MM might charge the customer for the modified machine without negatively impacting the shareholders.
There should be about 300 words in this.
(14 markings) (20 total points)
p. 3 of 6
Your assignment should strive to give readers in-depth knowledge and critical analyses of these subjects, for instance:
• An understanding of a range of management accounting-related topics within managerial decision-making.
• The ability to compare and contrast the purpose and application of management accounting theory and to identify the costs and benefits pertinent to a given business decision.
• Your interpretations of, responses to, and contributions to the topic, such as crucial qualitative traits, a true and fair perspective or presentation, inventive accounting, etc.
• Any additional significant issues that you believe ought to be addressed. Other information:
This is a unique assignment, and each question has a word limit that needs to be followed to the nearest 10%.
The final assessment mark for this module includes this assignment in its entirety.
Please be aware that this work will be subject to the university’s policies against plagiarism, collusion, and cheating.
The assignment must be turned in via TURNITIN and at the library by the deadline. The copy you turned in to the library has to have your Turnitin summary attached.
grading manual
The ensuing evaluation criteria will be taken into consideration while determining marks.

 

 

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