UNIT 5- Management Accounting Assignment Help

UNIT 5- Management Accounting Assignment Help

QualificationBTEC Level 4 HNC Diploma in Business (Pearson)
Unit Number and TitleUNIT 5: Management Accounting
Unit TutorShaveta Bedi
Internal VerifierChad ManianDate Verified
Assignment TitleManagement Accounting at Tata Motors.
Issue DateSubmission Date
Learning OutcomesVocational Scenario (Context/Background)
LO1 Demonstrate  understanding of management accounting systems

Lo2 Apply a range of management accounting techniques

LO3 Explain the use of planning tools used in management accounting

LO4 Compare ways in which organisations could use management accounting to respo to financial problematical

The scenarios and questions below need to be addressed fully for you to achieve a pass in this paper. In addition, you will need to address the merit and distinctions within your answers to achieve a merit and a distinction.

This paper consists of three tasks; writing essay, writing a business report and memo

Assignment Topic

Management accounting reports help business owners and managers monitor the company’s performance and are prepared frequently throughout accounting periods as needed. Depending on the type of project and the time-sensitivity of the information, an owner or manager may request reports quarterly, monthly, weekly or even daily.  A clear framework with a set of principles and concepts can logically model and value an organization’s operations to generate high quality information for insights, analysis, and decision making. Management accountants will be able to more efficiently and effectively provide managers and employees with managerial costing’s unique insights into the operations and economics of organizations.

This assignment explores the case of Tata Motor Company.

With over 8.5 million Tata branded vehicles plying globally, Tata Motors is among the select companies in the world to offer an extensive portfolio to its consumers. We have expanded our international footprint through exports since 1961. In passenger vehicles, al conditions and meet the highest standards for quality, safety, environment norms a the company has a strong presence in the hatchback and the sedan segment, going up to SUVs and MUVs. In commercial vehicles, Tata Motors offers a wide spectrum of vehicles that are customized for locnd user comfort. Today, the Tata Motors group is present in over 170 countries, with a worldwide network comprising over 6,600 touch points. Tata Motors has R&D centres in UK, Italy, India and South Korea. With vast global experience, the company brings deep understanding of customer expectations from diverse markets, and is well positioned to cater to ever changing automotive norms and consumer trends across the globe.

The story of IBM was always considered to be the greatest turnaround stories of all times but wait, have you heard how an Indian MNC Tata has turned it around for itself through its acquisition and revival of the global luxury brand, Jaguar-Land Rover(JLR).

In the past few years, Tata motors have gone from a sheen losing family business to a global profitable brand. The beginning was not smooth, when TATA acquired JLR, world was entering recession and the worst recession of them all. There was a bad sentiment everywhere. JLR was a failing brand and TATA paid $2.3 billion. Analysts feared that TATA has made a mistake and that they will not be able to handle what they have entered. Also, JLR being a British powerhouse brand, the deal was not very well perceived due to the coming Indian ownership and the fears of outsourcing of jobs, technology and the brand to India. On the other hand, Indian analysts feared that this whole acquisition may bring the almighty TATAs down. But that was 2008 and today JLR is contributing 50% of the overall profits of TATA Motors. All the stories and rumors were put to rest when the £400m engine plant in the Midlands was announced that would potentially create up to 2,000 jobs in England.ind more information on:

https://business-articles/marketing/1737-tata-motors-jaguar-land-rover-jlr-the-success-story.pdf

Task 1 Covers LO1 Demonstrate an understanding of management accounting systems
Scenario: Being a Junior Management Accountant at Tata Motors, your role is to explore relevant management accounting systems for reporting to financial controller. In the light of explanation above, you are required to write an essay in which you:

UNIT 5- Management Accounting Assignment HelpP1: Explain management accounting and give the essential requirements of different types of management accounting systems that could be used by Tata Motors.

P2: Explain different methods used for management accounting reporting relevant to Tata Motors.

Task Guidance:

Your essay should include these points:

Write 2 recognized definitions of Management accounting along with 4 major functions of management accounting and clearly discussing at least 4 main differences between Management accounting and financial accounting. You are also required to discuss essential requirements of at least 3 management accounting systems that are relevant to Tata Motors (for P1) and finally discuss at least 3 management accounting reporting methods that are relevant to Tata Motors (for P2).

Merits and Distinctions Criteria

To Achieve M1 you need to:

Evaluate the benefits of management accounting systems and their application within an organisational context.

To Achieve D1 you need to:

Critically evaluate how management accounting systems and management accounting reporting is integrated within organisational processes.

 
Submission FormatEssay format
Criteria CoveredP1 P2 M1 M2 D1

UNIT 5- Management Accounting Assignment Help

Task 2 Covers LO2:  Apply a range of management accounting techniques
Tata Motors is looking forward to manufacture wheels mel accessory as a new product under Tata Motors brand name.

The product will get produced in two departments (machining and finishing) before being packed into boxes in the dispatch department.

The company has provided the following budgeted information.

Direct material                                                                                                               £50 per unit

Direct labour Machining department (per 100 units) at £5.00 per hour                              4 hours

Finishing department (per 20 units) at £6.00 per hour                                                      3 hours

Dispatch department labour (per 20 units packed) at £5.00 per hour                                1 hour

Packing boxes                                                                                                                   £1 each

Fixed overheads:

Machining department                                                        Absorbed at a rate of £6 per machine hour

(The manufacture of a batch of 100 units takes 5 machine hours.)

Finishing department                                                         Absorbed at a rate of £4 per direct labour hour

Dispatch department                                                         Absorbed at a rate of £1 per unit packed

The selling price is 200per unit.

Planned production and sales for the next period are as follows.

Production                                       3,000 units

Sales                                                2,500 units

There is no stock of packed or unpacked products, direct material or packing boxes at the beginning of the period. At the end of the period it is expected to have no stock of packing boxes and 400 units unpacked in the dispatch department. All other production in the period will be packed.

Required (a) Calculate the number of units completed and packed in the period.

(b) Produce a budgeted Manufacturing and Trading Account for the period using: (i) absorption costing

(ii) marginal costing.

(c) Reconcile 2 accounting methods

(d) Suggest the company if they should go ahead with this product.

Task Guidance:

You need to clearly produce two income statements showing absorption costing techniques and marginal costing techniques (for P3).

Merits and Distinctions Criteria

To Achieve M2 you need to:

Accurately apply a range of management accounting techniques and produce appropriate financial reporting documents.

To Achieve D2 you need to:

Produce financial reports that accurately apply and interpret data for a range of business activities.

Submission FormatReport Format
Criteria CoveredP3 M2 D2

UNIT 5- Management Accounting Assignment Help

Task 3 Covers LO3: Explain the use of planning tools used in management accounting and LO4: Compare ways in which organisations could use management accounting to respond to financial problem
Scenario: As a Junior Management Accountant for Tata Motors, advise the business by writing a formal report in which you:

Explain the advantages and disadvantages of different types of planning tools used for budgetary control in Tata Motors.  P4

Compare how organisations are  management accounting systems to respond to financial problems. P5

Task Guidance: your report should include these points:

Discuss at least 3 tools for planning used by Tata Motors in budgetary or financial control and also discuss their at least 3 advantages and disadvantages (P4) and finally compare at least 2 organisations (one of them should be Tata Motors) that have successfully used management accounting systems in solving their financial problems (for P5).

Merits and Distinctions Criteria

To Achieve M3 you need to:

Analyse the use of different planning tools and their application for preparing and forecasting budgets.

To Achieve M4 you need to:

Analyse how, in responding to financial problems, management accounting can lead organisations to sustainable success.

To Achieve D3 you need to:

Evaluate how planning tools for accounting respond appropriately to solving financial problems to lead organisations to sustainable success. 

 

 

Submission FormatReport Format
Criteria CoveredP4 P5 M3 M4 D3

UNIT 5- Management Accounting Assignment Help

Sources of information to support you with this assignment
DRURY, C. (2015) Management and Cost Accounting. 9th Ed. Cengage Learning

EDMONDS, T. and OLDS, P. (2013) Fundamental Managerial Accounting Concepts. 7th Ed. Maidenhead: McGraw-Hill.

HORNGREN, C., SUNDEN, G., STRATTON, W., BURGSTALHER, D. and SCHATZBERG, J. (2013) Introduction to Management Accounting. Global Ed. Harlow: Pearson. (This text is available electronically and is supported by access to an online course)

SEAL, W. et al (2014) Management Accounting. 5th Ed. Maidenhead: McGraw-Hill.

Additional Reading

CIMA,  UK Study Text, BPP

Relevant Study Text, Kaplan Publishing

Milton F. Usry/ Lawrence Hammer / Adolph Matz, Cost Accounting, Published by: South Western / Thomson

Charles T. Horngren,  Srikant M. Datar, & George Foster. Cost Accounting: A  Managerial Emphasis, Prentice Hall / Pearson / Financial Times

 Learning Outcomes and Assessment Criteria

PassMeritDistinctions
LO1 Demonstrate an understanding of management accounting systemsD1 Critically evaluate how management accounting systems and management accounting reporting is integrated within organisational processes.
P1 Explain management accounting and give the essential requirements of different types of management accounting systems.M1 Evaluate the benefits of management accounting systems and their application within an organisational context.
P2 Explain different methods used for management accounting reporting.

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