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Re-Sit Course-Work Assignment

Weightage: 20%

Word Limit: 2000-2500 words (Font size: 12, Times New Roman, single space)

Marks Break-up:

A. 

Depth and breadth of the topics covered 80%B.  Reflections 20%

Total 100%

Topics to be covered

 Identify one listed or unlisted company (preferably with personal contacts) and interview themanagement accountant or an appropriate senior person to understand a minimum of five

management accounting practices used in the organization. If the first interview does not elicit

enough information, conduct follow-up interviews. Present a report which provides information

on at least five of the following issues:

1. 

Expense Items: What are the major expense items of the company? Which of these can be categorized as fixed expenses and which ones can be categorized as variable

expenses? What types of expenses are included in overheads? How large is the overhead

costs in comparison to direct material and direct labour costs? How are these overheads

apportioned?

2.  Contribution Margin vs Break-Even Point: Does the company consider the contribution

margin and break-even point when making decisions on sales forecasts? If the company’s

sales substantially exceed break-even levels, does it consider the “margin of safety” when

making decisions? What other techniques do they use in their Cost-Volume-Profit

analysis? Sensitivity Analysis etc.?

3. 

Budgeting Process: What is type of the budgeting process  is used in the organization?

Top to bottom or Bottom to Top? Budgeted time period? What kind of budgets  – cash,

 production, sales, master etc.? Frequency? Variance Analysis?

4.  Benchmarking: Does the company benchmark its costs with other organizations or with

industry averages? Does the company consider the “standard costs” of the products it

uses in manufacturing with industry norms and conduct “variance analysis”? Does the

concept of responsibility accounting exists or is used in the company? Are the incentives

of the production managers linked to the favorable variance they bring to the company?

5.  Working Capital Management: How is the working capital management  done in the

company?6.  Debtors: How does the company decide on the credit period to be allowed to

customers?

7.  Creditors: What factors would the company consider when making decisions on credit

 period required for purchases?

8.  Cash Management: What is the cash management process used in the company? As in -

what amount of cash-in-hand is maintained at any point of time? What are the factors that

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affect cash balances? Where does the company invest its excess funds? Any other

details?

Reflections:

I would be interested to know your opinions about this assignment. Did it help showcase yourexperience to the person you interviewed? What was the learning from this assignment? How

differently you would prefer doing it, if you were asked to do the assignment again? Was the

assignment interesting? Do you have any other observations or suggestions?

Marking cretieria

70-100% marks will be awarded if the student is able to present well structured findings withclear introduction and conclusion. Issues clearly identified; clear framework for organizing

discussion; appropriate discussions around the chosen areas selected. Evidence of wide reading

from many sources

50-70% marks for a well structured discussions with a clear introduction and conclusion. Some

issues identified and the content has logical flow. Uses some abstract principles and conceptswith limited applications to the discipline area when appropriate, Some evidence of critical

analysis with conclusions drawnFail - Dogmatic presentation of the interview with absolutely on reflection to be able to link it

with the underlying frameworks.