Management Accounting

FACULTY OF BUSINESS MANAGEMENT

STUDENT ASSIGNMENT COVER SHEET 

Module Name and Level Management Accounting (Level 2)                         
Module CodeAC 06-2
   
Assignment
Management Accounting (Code: AC 06-2)
Assessment one (Report)

Zubair Technologies Co (ZTC) produces and sells Gadgets for children. The company's main customers are Super stores like Lulu and Carrefour that sell a Gadget, which can survive rough handling by children. The Gadgets are individually specified by Stores for each order and pricing has been on a product cost plus basis with a mark-up of 35%. The company uses an absorption costing system based on labour hours in order to calculate the production cost per unit.
The main control system used within the company is the annual budget. It is set before the start of the financial year and variances are monitored and acted upon by line managers.

Further financial information is provided in the below table:
Volume (units)12,300 
  Total
OMR‘000
Direct variable costs Material 21,200
Labour 1,890
Packaging and transport 1,200
Subtotal 24,290
Overhead costs  
Customer service 3,650
Purchasing and receiving 1,250
Inventory management 1,060
Administration of production 1,350
Subtotal 7,310
Total 31,600

Labour time per unit2 hours
Data collected for the year 
No of minutes on call to customer420,600
No of purchase orders raised11,200
No of components used in production310,800


Order # 5656  
Units ordered40 
Direct costs for this order: OMR
Material 70,328
Labour 6,600
Packaging and transport
 3,400
Their activities relating to this order:

 No of minutes on call to customer                                                                                     2,604
No of purchase orders raised                                                                                                 160
No of components used in production                                                                               1,250
Administration of production (absorbed as general overhead)         2 Labour hours per unit
The board papers contain a high-level summary of financial information, comparing performance against budget for revenue, costs and profit. The CEO is concerned about the performance information, which is provided in the monthly board papers.
ZTC Key Performance Indicators are profit, profit margin, free cash flow and return on capital employed. Although the CEO acknowledges that the fall in profitability is a concern for ZTC he believes that the company's performance measurement systems should not focus solely on financial information, but also non-financial information such as quality, or flexibility in meeting customer specifications etc.

Required

 You being the Management consultant of Zubair Technologies Co (ZTC) have been asked by the management to write a detailed report on evaluation of traditional absorption costing system against Activity Based Costing.

Your report should include the following points with supporting calculations and working notes:
  1. An Ideal Introduction to the report which should include relevant literature review.
  2. Discussion on how activity based costing differs from a traditional absorption costing system.
  3. Evaluate the current method of costing as against an ABC system, specifically in relation to Zubair Technologies Co.’s Gadgets.
  4. Determination of cost per unit, its price, assuming a mark-up of 35% in current absorption costing and ABC system.
  5. Analysis of the impact of introducing ABC system by using Order #5656 cost data.
  6. Discuss what action management might take in the light of results obtained with respect to this order.
  7. Advantages and Limitations of ABC system in the current scenario.
  8. Comment on the importance of non-financial performance information as well as financial information to achieve Zubair Technologies Co.’s strategy successfully.
  9. Appropriate Conclusion.
The grading of the Written Report will be based on:
  • Information and Research Completion of Tasks (20 %)
  • Understanding of Issues (20 %)
  • Application and Analysis (35%)
  • Presentation and structure (15%)
  • References (10%)
INSTRUCTIONS
  1. This is a group assignment (group of 3 students) and carries a total of 30% weighting for the report and 20% for viva grade.
  2. The assignment MUST be submitted on-line (through MOVE) on or before the due date ________
  3. Your assignment shall reflect the depth and breadth of your original analyses in a clear and coherent manner.
  4. Use of the relevant academic literature to support ideas and issues discussed. The range of academic sources such as texts and journals to support your arguments and comments.
  5. Any reference to authors and other writers shall be quoted with due acknowledgement in your assignment report using the Harvard Referencing System. For details of Harvard referencing style refer the student’s hand book page 46-47 section7.2.
  6. This is an individual assignment and carries a 50% weighting of the module grade.
  7. This assignment follows a report format (modify according to the requirement of your assignment) and must be original and creative. An analytical piece of work is required. The use of ‘cut and paste’ approach will be penalized. It must be presented in a structured manner, with appropriate cover page, content page, introduction, body (with appropriate heading / sub-headings), conclusion, references, page numbered and any required appendices.
  8. Your assignment should be word processed and professionally presented. The length of your assignment should not exceed 2500 words (+/- 10%), presented in text of font size 12 with 1.5 line spacing. Please state the exact word count at the end of the assignment.
  9. The cover page should be attached with the assignment and uploaded through MOVE (on-line. Name of the student, The Programme, Module Title, Assignment Title and number of words must be reflected on the cover sheet.
  10. All assignments must be adhered strictly to the deadlines specified by Majan College. Failure to hand in the assignment for any reason and without prior approval and a valid written extension from the module tutor will not be marked and will be awarded a grade G (0) irrespective of the quality of the work. See Student handbook page 16-17section 4.4.
  11. Unacknowledged use of work of others (plagiarism) is regarded as a dishonest practice and will be will be penalized. See the penalties in the student’s handbook page 35-36 section 5.8.
Additional Guidelines
  • The Assignment Submission link on MOVE will be open, a week ahead of the submission date.
  • You can submit your assignment multiple times, till the submission deadline. Note that Turnitin could take up-to 24 hours to produce similarity reports for submissions.
  • The last submission, within the deadline, will be considered as your final submission.
  • Assignments should be submitted by 6pm on the day of the deadline. There is a grace period until midnight to allow for any technical difficulties, but any assignments submitted after this will be counted as late. Technical problems will not be accepted as an excuse for submitting after the day of the deadline.
  • You are required to tick to confirm the statement: “I confirm that this assignment is my own and all sources have been    acknowledged. I understand that the use of other people’s work or ideas without acknowledgement is plagiarism and could result in failing the assignment”. You will not be able to submit the assignment without ticking this box.
  • In a case of group work, it is recommended that the group should identify a leader who can be responsible for uploading the assignment on Turnitin and to share the feedback received from lecturers with the group members.
  • The similarity percentage of your final submission will be one of the factors considered, for assessing the originality of your assignment. However, the decision to report an assignment for plagiarism is taken by the Lecturers, who mark your assignment.
  • The Lecturers will consider a number of factors such as Assignment type, Part of the assignment where similarity occurs, Nature of similarity ,along with the similarity percentage of your assignment, to assess the originality of your assignment. Therefore, similarity percentage would not be accepted as a basis for disputing academic judgments regarding plagiarism.
  • Note that the similarity percentage of your submission can change till the submission deadline, if the submissions of other students have similarity to your assignment. Therefore, the similarity percentages are not final, till the assignment submission is closed.

GRADING SYSTEM
Although grades may be awarded on the basis of marks in some assessments, students should note that both marks and grades will be awarded on the basis of the assessment criteria for each grade.
Old grading System (Before Feb 2015)
GRADEGRADE POINTDESCRIPTIONGENERAL ASSESMENT CRITERIA
A+16Excellent·An outstanding piece of work.
·Shows evidence of wider reading and originality
.Strongly analytical. All important points are covered.
·Arguments should be supported by examples and evidence, objectively presented and evaluated,
·Well-structured and well written, without noticeable grammatical or other errors.
·Correctly referenced
A15
A-14
B+13Very Good·Very good work.
·All main points will have been covered, though minor issues may have been omitted.
·The work will be analytical, balanced and soundly based.
Examples and supporting evidence should have been included.
.The writing should be essentially correct, without major grammatical or other errors.
·Generally referenced correctly.

B12
B-11
C+10Good·Generally good work.
·Most points will have been covered, but many finer points will generally have been missed.
·Shows limited reading.
·Arguments/analysis should be basically well structured and balanced with relevant examples, but with errors and gaps.
·The writing is clear, but has errors that nevertheless do not obscure the meaning.
·Referencing will be present but may at times be inaccurate or insufficient.
C9
C-8
D+7Pass·Satisfactory.
·Shows sufficient grasp of the subject to be acceptable.
·Tends to be descriptive.
·Examples and evidence is likely to be weak and limited.
·Shows limited reading.
·Referencing is likely to be absent or very poorly carried out.
D6
D-5
E4Refer·Unsatisfactory/Compensatable fail.
·Serious errors and omissions.
·Very little analysis
F2Fail·Work of a very poor standard with little relevant information and/or serious errors.
F-1·Work containing little of merit
G0·No work submitted

  New Grading System (Starting Feb. 2015)
Grade LetterMark Band %Grade DescriptorGeneral Assessment Criteria
A+80-100OutstandingP  A  S  S·An outstanding piece of work.
·Shows evidence of wider reading and originality
·Strongly analytical. All important points are covered.
·Arguments should be supported by examples and evidence, objectively presented and evaluated,
·Well-structured and well written, without noticeable grammatical or other errors.
·Correctly referenced
A75-79Excellent
A-70-74
B+67-69Commendable.Very good work.
·All main points will have been covered, though minor issues may have been omitted.
.The work will be analytical, balanced and soundly based.
.Examples and supporting evidence should have been included.
·The writing should be essentially correct, without major grammatical or other errors.
·Generally referenced correctly
B64-66
B-60-63
C+57-59
Good		·Generally good work.
·Most points will have been covered, but many finer points will generally have been missed.
·Shows limited reading.
·Arguments/analysis should be basically well structured and balanced with relevant examples, but with errors and gaps.
·The writing is clear, but has errors that nevertheless do not obscure the meaning.
·Referencing will be present but may at times be inaccurate or insufficient.
C54-56
C-50-53
D+47-49
Satisfactory		.Satisfactory.
·Shows sufficient grasp of the subject to be acceptable.
·Tends to be descriptive.
·Examples and evidence is likely to be weak and limited.
·Shows limited reading.
·Referencing is likely to be absent or very poorly carried out.
D44-46
D-40-43
E35-39Marginal FailF  A  I  L·Unsatisfactory/ Compensatable fail.
·Serious errors and omissions.
·Very little analysis
F25-34Fail·Work of a very poor standard with little relevant information and/or serious errors.
F-01-24Fail·Work containing little of merit
G0Non-Submission·No work submitted

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