1. The group is required to undertake a project on a management accounting topic related to the course (refer attachment). The objective of the project is to provide students an opportunity to gain an in-depth knowledge of the theoretical underpinnings of one of the management accounting topics and to summarize any current articles of the topic (the chosen articles must be accepted by your lecturer).
2. The group projects may be done in groups of at most five students (you may choose you own group members). Each group will be entitled with one group project (see Attachment A).
3. The assessment marks for the group project is equivalent to 20 marks.
4. The group project report should be submitted to lecturer in class not later than week 10. Late submission of the term project will not be entertained, i.e., a grade of ZERO will be assigned.
5. The group project report should follow the guidelines below: a) Written in English language
b) Computer typing Arial, Font 12, 1.5 line spacing
c) Properly cited and follow the APA referencing style (http://www.apastyle.org/)
6. Criteria for grading the written group projects is as follows:
a) Good writing quality
b) The presentation style of a group project report
c) Demonstration of appropriate citing in use of source materials
d) Evidence of group effort
e) Clarity, precise and thorough analysis in demonstrating the group project report
7. Minimum 25 pages.
GROUP PROJECT QUESTION (20 marks)
1) Management Accounting –
(A) How has the technology changed the work of management accountants? What other business trends are influencing managerial accounting today? How do these other trends impact management accountants’ roles in the organization.
(B) Find a recent news article on an ethical issue. You have to write a summary of the article and how financial and managerial accountants could have used information to detect the activity.
2) Performance evaluation system –
(A) Explain why using financial statements as the sole performance evaluation tool for a company is probably not a good idea. What issues can arise from using only financial measures for performance evaluation?
(B) Obtain published financial statements of two manufacturing companies within the same industry. Compare and contrast their income statements and balance sheets. How does the cost of goods sold vary for the two companies? What are the gross margin percentages for the companies? How would manufacturing companies determine the price to charge their customers? How does this compare to a service organization? Provide examples of product costs and period costs?
3) Balance Scorecard –
(a) List and describe the four perspectives found on a balance scorecard. For each perspective, list at least two examples of KPIs that might be used to measure performance on that perspective.
(B) Find a recent news article on Balance scorecard. You have to write a summary of the article.
4) ABC –
(A) Discuss the current issues in Activity Based Costing (ABC) implementation. Why most of the companies do not adopt ABC system in their production line/companies.
(B) You are required to find websites of other businesses that use activity-based costing. Identify specific concerns that the business may have in using activity based costing. Provide examples of how activity-based costing has improved the business. What was the purpose of establishing ABC within the business?
5) Traditional Management Accounting Technique –
(A) List, describe and discuss the traditional management accounting technique. Explain why traditional management accounting technique is said to be inappropriate to be used in contemporary business?...