Briefly discuss the budgeting process

Assignment Help Managerial Accounting
Reference no: EM132505032 , Length: word count:3000

HI5017 Managerial Accounting Assignment - Holmes Institute, Australia

Assessment

Purpose of the assessment (with ULO Mapping) - Students are required to develop their understanding of the purpose and use of management accounting 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 decision-making by managers and achievement of business goals.

Individual Assignment Specifications -

Purpose: This assignment aims at developing your understanding of the purpose and use of management accounting 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 decision-making by managers and achievement of business goals.

Assignment Task - Journal Article Critique

You are required to conduct a literature search and discussion in this assignment. You are to choose a peer reviewed journal article (from any country) on the: Use of Budgeting as a management technique for managing resources.

The article should be published between 2010 - 2020. Choose your article only after you have accessed several relevant articles, and then choose the best articles that will answer the assignment question below.

Required: Critically evaluate the relevance and challenges of budgeting systems by answering the 5 questions below:

Question 1. Briefly discuss the budgeting process.

Question 2. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies the purpose of planning, controlling and evaluating performance.

Question 3. The two widely used practices in preparing budgets are 'top down' budgeting and 'bottom up' budgeting. Identify and explain the practice adopted by the organisation discussed in your selected journal article and further explain the behavioural implications of adopted practice.

Question 4. Based on your literature findings (above), critically evaluate the comment that 'traditional budgeting practices are constraint on creativity, and the time and energy spent on budget formulation is better spent elsewhere'.

Question 5. Based on your literature findings (above), would you recommend budgeting for contemporary organisations for planning and control purpose? Explain.

Assignment Structure:- The report should include the following components:

a. Assignment cover page clearly stating your name and student number

b. Abstract (one paragraph)

c. Table of contents

d. A brief introduction or overview of what the report is about.

e. Body of the assignment with appropriate section headings

f. Conclusion

g. List of References.

Attachment:- Managerial Accounting.rar

Reference no: EM132505032

Questions Cloud

What is your assessment of the vision that beers created : What is your assessment of the vision that Beers created? What exactly is her vision? Is it original? Is it stating the obvious? How important is originality?
Expenditures to shift the aggregate demand curve : By how much must the government increase expenditures to shift the aggregate demand curve right by $10 billion?
What do you think is its economic impact : The US national debt is around $23 trillion. 1. What do you think is its economic impact? 2. What do you think should be done?
Explain the weekly concept in your own words : This Ted talk is particularly powerful, and the speaker, Chimamanda Ngozi Adichie, turned it into a book afterwards and has written and continues to speak.
Briefly discuss the budgeting process : Briefly discuss the budgeting process and Identify and explain the practice adopted by the organisation discussed in your selected journal article and further
Significant ways that an organization structure : What are some significant ways that an organization's structure affects the organization's ability to adapt to strategy initiatives.
Expand economic activity : What specific fiscal policy actions should be taken to expand economic activity?
Government to combat the rising debt figure : What action do you think should be taken by our government to combat the rising debt figure?
Can people with average incomes become quite wealthy : Can people with average incomes become quite wealthy? Do they have to be lucky in order to do so?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd