| B: Learning Outcomes |
| • Critically analyse current issues in management accounting. • Critically evaluate budgetary control systems. • To be able to analyse critically corporate financial statements, and evaluate corporate performance • To develop a robust understanding of the nature and role of financial decision making • To understand key performance indicators. |
| Assessment Details | |
| Module Title | Financial Performance Management |
| Module Code | FNN 6800 |
| Module Leader | (Jaysingh) Ghnanand Beeharree |
| Component Number | A1 |
| Assessment Type, Word Count & Weighting |
ASSESSMENT 3000-WORD WRITTEN ASSIGNMENT (60%) |
| Submission Deadline | 11th December 2020 no later than 12:00 PM (midday) |
| Submission Instructions | THROUGH TURNITIN |
| Feedback Return Date | W/c 14th December 2020 |
| C: Assessment Task |
| Part 1 Critically discuss the issues faced by businesses in managing its Environmental costs and the different methods used by businesses in accounting of its Environmental Costs. (40 Marks) Part 2 Decision-making is a core element for a management accountant and whether being formal or informal, it is imperative that the management accountant has the right tools in providing the right information about how he may advise the business to improve its performance and understand the implications of the Key performance indicators. Required Critically discuss how a business incorporate the management accounting planning tools in solving financial problems that may be affecting its financial performance and to gain financial sustainability. (60 Marks) |
| Specific Criteria/Guidance |
| Students should refer to the Module reading list and support their answers with other resources of their choice, as appropriate. Firstly, remember this coursework is only 3000 words in length (+/- 10%) Part 1 (1200 words) You are expected to focus mainly on the Environmental Management Accounting rather than the Environmental Accounting. What are the environmental costs? How is Costs vs Benefits being used? What are the techniques that are being used by management accountants to identify and manage the environmental costs? Provide examples to support your discussion. Why is Management of environmental costs so important for an organisation? How are the environmental costs identified and recorded? How can the environmental costs be controlled? How are the environmental costs accounted for? Part 2 (1800 words) Your focus should be more on the following: • How important is the decision-making processes and how does the management accountant gain the right information? • What are the planning tools and how are they helping in solving financial problems that the business may be facing? • Relevancy of budgetary control • How does the KPI relevant in improving the financial performance? • How can the business gain financial sustainability? |
| Key Resources |
| Indicative Text(s): • Atrill, P. & McLaney, E., 2018. Management Accounting for Decision Makers. 9th ed. Harlow: Pearson. • Drury, C. (2017). Management and cost accounting (10th ed.). Andover England: Cengage Learning EMEA. |
| Journals • Journal of Performance Management • Journal of Management Accounting Research • Management Accounting Web Sites • www.ft.com |
| Submission Guidance |
| • Students should submit work before 12 noon on the deadline date via the appropriate ‘Turnitin submission’ link on the Moodle module page. Please check your email confirmation to ensure you have submitted to the correct place. • Assessments should be submitted in Microsoft Word (.doc and .docx) format (generated from the word-processing software you are using, not a scanned document. Do not upload Open Office documents (.odt, .odp). • Do not upload documents directly from Google Drive and One Drive. • The file must be no larger than 40MB. |
| Document Format |
| • The font size must be a minimum of point 12 Calibri (or equivalent). • Line spacing in the body of the assessment must be 1.5 lines. • Include the following details written on the first page: Title of your work Module title and code Your student number. Do not write your name. Word count (Please note penalties for excess word count) Module Tutor (if relevant) • Number the pages consecutively. |
| Academic Integrity and Penalties |
| It is your responsibility to ensure that you are familiar with all of the information contained in this brief as failure to do this may impact on your achievement. Please refer to the various Assessment Guidance provided. • Late Work Penalties: Unless you have an extension, any work submitted past the assessment deadline will be subject to a penalty as per regulations. • Mitigating Circumstances: Please refer to the latest guidance if for any legitimate reason you are unable to meet the assessment deadline. |
| Marking Criteria |
| Expected Coverage DetailsMarks AllocatedPart 1Good level of explanation, clearly showing understanding of the environmental costs and Environmental Management Accounting8Clear discussion about the costs vs benefits methods and how they are being applied 8Demonstrate how management accountants can identify and manage the Environmental costs with supporting examples12provide a good analysis about the importance of managing the environmental costs and its impact if not controlled and accounted for12Total Marks for Part 1 40Part 2Clearly discussing the importance of decision-Making processes and examine why it is important to gain right information before decision-making15Critically evaluate how the planning tools helps the organisation in solving financial problems 18Critically evaluate how the Budgetary control and relevant KPI helps the organisation to improve its Financial performance18Conclude by analysing the importance of financial sustainability for a business to meet the stakeholders expectations9Total Marks for Part 2 60Total marks 100 |