Reference no: EM132986413 , Length: word count:2800
HI5017 Managerial Accounting - Holmes Institute
Students are required to develop their understanding of the types of management accounting information that assists managers in organisational planning and control purposes. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting information by contemporary organisations, and their relevance to decision-making by managers and achievement of business goals.
Assignment Task: You are required to conduct a literature search for this assignment, cite your source(s) and provide a full reference list (as per the Holmes Adapted Harvard Referencing guidelines on pg. 1-2).
Part A
Management Accountants are seen as the "value-creators" amongst the accountants. They are much more interested in forward looking and taking decisions that will affect the future of the organization, than in the historical recording and compliance (scorekeeping) aspects of the profession (Institute of Certified Management Accountants, 2017).
a) Discuss the pros and cons of the above statement.
b) Explain the relevance of the value chain concept to management accountants today.
c) Assume you are the management accountant of BHP Group, a leading mining company in Australia. Provide examples of how you can create value for the company to support the managers make:
i) strategic decisions (2 examples); and
ii) operational decisions (2 examples).
Part B
a) What distinguishes the successful implementations of ABC costing method from those that have not succeeded? Include real-life examples from the literature to support your answer.
b) Based on your literature findings in (a), state two key lessons that stood out for you, about the ABC costing method as a planning and decision-making tool that would benefit contemporary organisations.
"Maximum 1500 words."
Assignment Structure:
The assignment 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 assignment is about.
e. Body of the assignment with appropriate section headings
f. Conclusion
g. List of References (follow the Holmes Adapted Harvard Referencing guidelines on pg. 1-2)
Attachment:- Managerial Accounting.rar