Unit Code MA620
Advanced Management Accounting
Assessment Task 4 – Assignment [Group]
The purpose of this assignment is to assess the following Learning Outcomes:
- Demonstrate advanced understanding of management accounting in the contemporary business environment.
- Analyse business problems, apply management accounting techniques and critically evaluate appropriate approaches to the generation of financial information for decision making.
- Apply management accounting practices and theories to research, analyse and solve business and management problems.
- Research, evaluate and prepare business reports which communicate and present financial solutions on management issues in writing.
- Adapt knowledge to new situations to develop flexible approaches to problem solving.
Assist management decisions by appraising, integrating and prioritising appropriate financial management information to aid decision making.
Assignment Description
“While many Australian businesses use traditional cost systems, these systems have been widely criticised for failing to provide accurate product costs to inform management decisions. Activity Based Costing (ABC) has evolved as an alternative approach” .
Required
With reference to the above statement, write a report to discuss:
- whether the Australian businesses should completely cease the use of the traditional cost systems.
- adopt ABC approach to cost allocations to resolve the issues of costing altogether.
Report should include a case study from the management accounting literature:
- review and summarise findings of a case study to support the use of the traditional cost systems
- review and summarise findings of a case study to support the use of the Activity Based Costing
Report should incorporate the following sections:
1. Cover page
2. Executive summary
3. Table of contents
4. Introduction
5. Literature review: this section should include topics such as
- general principles for allocating indirect costs to cost objects
- costs and benefits of traditional cost systems
- ABC principles to assigning overhead costs to products
- costs and benefits of ABC approach
6. Analysis and findings/summary of case studies
7. Conclusion
8. Reference list (8-10 references must be cited)
To achieve this task, you are required to:
- review 4-6 peer reviewed articles to discuss whether the Australian businesses should completely cease the use of the traditional cost systems;
- review 4-6 peer reviewed articles to discuss the appropriateness of the contemporary approaches to cost allocations (e.g. ABC approach) to resolve the issues of costing;
- investigate a case study in the management accounting literature, review and summarise findings of a case study to support the use of the traditional cost systems;
investigate a case study in the management accounting literature, review and summarise findings of a case study to support the use of the Activity Based Costing.
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