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Assignment Front Sheet

Qualification Unit number and title


Unit 5: Management Accounting
Unit Code: H/508/0489
Unit Type: Core
Pearson BTEC Level 5 HND in Business
Unit Level: 4
Credit Value: 15

Student name Author Assessor(s)


Dr. Mabel Zvobgo
Syed Tanvir
Afzal Munna
Brenda Patil
Tahir Khan Shahriar Khan
Adrian Gauci
Thierry Bangmo
Syed Jaffery
Lilian Awino
Date issued Submission date Submitted on
08/05/2017 10/07/2017

Management Accounting Principles and Effective Planning Tools for Managing


Assignment Topic
Accounts

Learner declaration

I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.

Student signature: Date:

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Learning Outcomes and Assessment Criteria:

Pass Merit Distinction


LO1 Demonstrate an understanding of management accounting
systems
D1 Critically evaluated how
P1 Explain management M1 Evaluate the benefits of
management accounting
accounting and give the essential management accounting systems and
systems and management
requirements of different types of their application within an
accounting reporting is
management accounting organizational context
integrated within
systems
organizational processes
P2 Explain different methods
used for management accounting
reporting

LO2 Apply a range of management accounting techniques

P3 Calculate costs using M2 Accurately apply a range of D2 Produce financial reports


appropriate techniques of cost management accounting techniques
that accurately apply and
analysis to prepare an income and produce appropriate financial
interpret data for complex
statement using marginal and reporting documents
business activities
absorption costs

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Assignment Brief
Unit 5: Management Accounting
Unit number and title
Unit code: H/508/0489
Qualification Pearson BTEC Level 5 HND Diploma in Business
Start date 08/05/2017
Deadline/Hand-in date 10/07/2017
Assessor

Management Accounting Principles and Effective Planning Tools for


Assignment Topic
Managing Accounts
Aim of this assignment

The overall aim of this unit is to introduce the fundamentals of management accounting, which apply to the
wider business environment and the organisations, which operate within that environment. Students will
explore how management accounting uses financial data to aid planning decisions, and the monitoring and
control of finance within organisations. On successful completion of this unit students will be in a position to
present financial statements in a workplace context and be able to assist senior colleagues with financial
business planning. In addition, students will have the fundamental knowledge and skills to progress onto a
higher level of study.

By the end of this unit students will be able to:

LO1. Demonstrate an understanding of management accounting systems.

LO2. Apply a range of management accounting techniques.

Formal report - LO1, LO2, LO3 & LO4: (Task 1)

The submission is in the form of an individual Written Report. The Report should be covering LO1, LO2,
(Task 1). This should be written in a concise, formal business style using single spacing and font size 12.
You are required to make use of table of content; headings, paragraphs and subsections as appropriate,
and all work must be supported with research and referenced using the Harvard referencing system.
Please also provide a bibliography using the Harvard referencing system. The recommended word limit is
1,0001,500 words, although you will not be penalised for exceeding the total word limit.

LO1, LO2 (Task 1)

You are a Junior Management Accountant for a medium-sized enterprise in the manufacturing sector and,
in an effort to promote understanding between different departments in the organisation, you and your
colleagues have been asked by your line manager to prepare a report on the role and function of the
management accounts department, covering the management accounting systems operating in the
organisation as well as the range of techniques used. This assignment has two parts:

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Part A: Produce a portfolio of completed calculations for financial statements, including income
statements using variable costing.

ABC Ltd has prepared the following data for a new product to be launched in January:

Standard Costs per unit

Direct Material 10.40


Direct Labour 18.20
Variable Production Overhead 7.80

Standard Variable Cost 36.40

Other Data:

Fixed Production Overhead 975,000 per month


Selling price 67.60 Per unit

Budgetd production Data:

Opening stock Nil


Production 190,000 unit
Sales 160,000 unit
Closing stock 30,000 units

Required:

Prepare budgeted profit statement for January on the basis of:

a) Marginal costing
b) Total absorption costing

Part B: The report includes supporting calculations from a portfolio of completed financial
statements, plus:

1. An explanation of the principles of management accounting.


2. The role of management accounting and management accounting systems.
3. The use of techniques and methods used in management accounting by presenting calculations for
an income statement using variable costings.
4. Explanation of how management accounting is integrated within an organisation.
5. The benefits of the function to the organisation.

End of assignment

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Recommended Resources

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.

Links

This unit links to the following related units:


Unit 10: Financial Accounting
Unit 13: Financial Reporting
Unit 14: Advanced Management Accounting
Unit 15: Financial Management

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Plagiarism and collusion:

Incidents of plagiarism, collusion and data fabrication will not be acceptable under any circumstances.
Students are expected to submit all work as original in content and to meet the Colleges academic
standards and guidelines.
Where existing, published material (both written and from the internet) is used and quoted, the Harvard
referencing system must be used. The College will use all the tools and techniques it deems necessary to
detect cases of unfair practice of any type. This includes the use of software such as Turnitin and all
assignments will undergo checks. A copy of the Turnitin report will be attached to each assignment and its
results noted by the College before final submission for internal verification and Academic Board decisions.
Any assignment found to have been subject to plagiarism, collusion or data fabrication will be subject to the
Colleges unfair practice procedure. Students are therefore advised to familiarise themselves with the
consequences associated with these offences. Details of the procedure can be obtained from the
administration office at the College and from the awarding body.

Learners must sign the declaration on the front of the assignment submission form.

Key Dates:

Submission Deadline: 10/07/2017


Students who would not have received any prior formative feedback on completed assignments
may receive such feedback until 08/07/2017
Learners will receive formative feedback on completed assignments only once.
Provisional assessment results will be available on the VLE from 4th of Aug 2017 and final results
will be due on a date to be announced later, following confirmation through the external examining
process by Pearson.

Late Submission and Resubmission:

Assignments will not be accepted for assessment by lecturers unless an extenuating circumstances
form has been filled in and duly authorized by a member of staff.
Students will receive the feedback form and guidance from the lecturer to improve in the areas of
their weaknesses on their first submission. Please note that assignments can be re-submitted only
once. A resubmitted assignment will be awarded a failed grade should it not meet the required pass
grade marks and results in retaking the module.
Please note that a resubmitted assignment will earn a maximum pass grade should it sufficiently
meet the required criteria.
A fine may also apply in case of resubmission.

Extensions and Extra-ordinary Circumstances

Extensions are only granted for documented medical reasons and/or other documented serious
interruptions relevant to your ability to study.
Please note that extensions are not allowed due to your inability to organize your work.
should there be any extra-ordinary circumstances; the College should be made aware of this in
writing.
The College preserves the right not to accept or mark the assignment in case you failed to inform it
in time.