Question Details

[answered] MANAGEMENT ACCOUNTING - ACC 3515 SEMESTER 3 2016/2017 GROUP


Tasks:

  • Students are expected to form a group comprising between 4 to 5 students.
  • The group has to identify a business entity which has the attributes of SME.
  • Preliminary research pertaining to background of the company has to be undertaken by the group.
  • The group should also identify an area of management accountingpracticeto be researched on, which include but it is not limited to:
    • Product costing (Job Order Costing and Process Costing)
    • Overhead costing (ABC)
    • Budgeting and budgetary controls (including flexible budgeting and standard costing)
  • Once the group has selected the management practice, it shall learn in detail the entity?s practice and later provide appropriate recommendations to improve the selected management accounting practice of the entity.
  • Recommendations must also consider the concept of holistic(falah ? comprehensive success) in undertaking business activities.
  • Finally the group is expected to report in the form of video presentation and written report as scheduled in the course outline.The report should include a simulation of the selected management accounting practice in the entity if it were to be implemented in the entity.

MANAGEMENT ACCOUNTING ? ACC 3515

 

SEMESTER 3 2016/2017 GROUP ASSIGNMENT The objectives: To provide exposure students to practical aspects of management accounting in

 

Malaysian SME companies. To enhance students? skills of communication, teamwork, decision-making and

 

commitment

 

Tasks: Students are expected to form a group comprising between 4 to 5 students. The group has to identify a business entity which has the attributes of SME. Preliminary research pertaining to background of the company has to be undertaken by

 

the group. The group should also identify an area of management accounting practice to be

 

researched on, which include but it is not limited to:

 

o Product costing (Job Order Costing and Process Costing)

 

o Overhead costing (ABC)

 

o Budgeting and budgetary controls (including flexible budgeting and standard

 

costing) Once the group has selected the management practice, it shall learn in detail the entity?s

 

practice and later provide appropriate recommendations to improve the selected

 

management accounting practice of the entity. Recommendations must also consider the concept of holistic (falah ? comprehensive

 

success) in undertaking business activities. Finally the group is expected to report in the form of video presentation and written

 

report as scheduled in the course outline. The report should include a simulation of the

 

selected management accounting practice in the entity if it were to be implemented in

 

the entity. Additional information on presentation and report are as follows: Presentation (50%): marks will be awarded based on the quality of group presentation

 

as follows: Presentation skills

 

15%

 

(A 5 minutes video footage of the research process is to be presented) Content of presentation

 

25% Ability to respond to questions 10% Final report (50%): need to be submitted on week 8 The report should be written with 1.5 spacing; Calibri/Arial font size 12, stapled with the

 

appendix and a cover page listing the title, group members? matric. number, course title

 

and the date of submission. The report should NOT exceed 12 pages excluding the

 

appendix and references. Where appropriate, acknowledgement and references should

 

be attached to the report.

 

Assessment of report: 50% Content

 

Presentation

 

Language 25%

 

15%

 

10% Notes:

 

Content refers to depth of analysis and adequacy of justification as well as

 

appropriateness of recommendations.

 

Presentation refers to good report format ? Table of contents, use of appendices, list of

 

references, etc.

 

Language refers to good use of the English language with very minimal typographical

 

and other errors.

 

Failure to conform to the above prescriptions will lead to discounted of marks! ESSENTIALLY YOU ARE ACTING AS A CONSULTANT TO THE ENTITY! GUIDELINES for ASSIGNMENTS

 

Q1: What are the objectives? To evaluate the overall quality of management accounting in SMEs

 

To understand how the management accounting function is resourced in SMEs

 

To understand which particular management accounting tools are used by SMEs and

 

which are not and in the latter case why not?

 

To identify areas where the management accounting function can be developed and

 

strengthened in SMEs in the current business and economic environment Q2: What is the category of the company?

 

As from 1 January 2014, more firms will have access to SME support programmes as the newly

 

revised SME definition (http://www.smecorp.gov.my/vn2/): Manufacturing sector, sales turnover not exceeding RM50 million OR full-time

 

employees not exceeding 200 workers Services and other sectors, sales turnover not exceeding RM20 million OR full-time

 

employees not exceeding 75 workers Q3: How to get information?

 

Interviews with the CEO/Owner-Managers and, where appropriate, other senior managers such

 

as the FD or accountants.

 


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