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HI5017 Managerial Accounting Individual Assignment

Question

Answered

Task:

Purpose:

This assignment aims at developing your understanding of the purpose and use of management accounting systems, in particular costing systems, and its usefulness in aiding managers make informed decisions. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting systems by contemporary companies, in terms of their relevance to the real-life companies’ decision-making by managers and achievement of business goals.

Assignment Task: You are required to conduct a literature search and critically review a costing system in this assignment.

Part A

Choose ONE of the costing systems studied in this unit from the list below, and answer the questions that follow:

• Job Costing

• Process Costing

• Operation Costing (Hybrid Costing)

• Activity-based Costing (ABC)

Questions:

1. Briefly discuss the features of your chosen costing system. 

2. Identify 2 specific Australian companies that your chosen costing system is suitable for, and explain why. 

3. Discuss two potential uses of the cost information for decision-making, to the managers in each of the 2 organisations selected in Q2 above.

Part B

Choose one peer reviewed journal article (from any country) on the: Use of your chosen costing system in a real-life organisation (i.e. a case-based empirical study). The article should be published between 2005 –2020. Choose your article only after you have accessed and reviewed several relevant articles, and then choose the best article that will answer the questions below.

Questions:

1. Based on your chosen costing article, briefly summarise how the costing system was designed and implemented in your real-life organisation. 

2. Based on your chosen costing article, did the costing system in the study satisfy the features discussed in Part A (Q1)? Why or why not? Include examples in your answer from your costing article.  

3. Based on your chosen costing article, how useful was the cost information to the internal users in the organisation? Discuss with examples from your costing article. 

4. Based on your literature findings, state two key lessons that would inform contemporary organisations about the practical use of your chosen costing system

HI5017 Managerial Accounting Individual Assignment

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ACCT105 Financial Accounting

Task: Based on the information provided for a one-year project, answer the following questions. PV =$40,000     AC =$32,000     BAC=$200,000    ETC=$178,0001.If 80% of the Planned Value was completed to date, what is the Earned Value of the work completed (round to ...

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The Issue on Financial Reports

Running head: INTERMEDIATE ACCOUNTING INTERMEDIATE ACCOUNTING Name of Student Name of University Author notes 2 INTERMEDIATE ACCOUNTING Table of Contents Mission and focus of the organization ................................ ................................ ...................... ...

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Running head: ACCOUNTS Accounts Name of the Student: Name of the University: Author ’sNote 1 ACCOUNTS Reflection The company which is considered for the assessment is Rio Tinto ltd which is amining company engaged in Australia and is well renewed in global markets as well. From my pers ...

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