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Management Accounting Assignment1

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Analyse the issues or problems (in a given scenario) using management accounting techniques and tools, and formulate recommended solutions.Required:Work in teams (groups) of 3 (4 with prior approval from your lecturer – if your lecturer has not approved a team of 4 the work you do will not be considered/marked) and write a memorandum (“memo”) to the board of directors (assume the members of the board have varying degrees of accounting knowledge or understanding) and then present your findings addressing the issues noted in the assignment details.Your team presentation will be...

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Analyse the issues or problems (in a given scenario) using management accounting techniques and tools, and formulate recommended solutions.Required:Work in teams (groups) of 3 (4 with prior approval from your lecturer – if your lecturer has not approved a team of 4 the work you do will not be considered/marked) and write a memorandum (“memo”) to the board of directors (assume the members of the board have varying degrees of accounting knowledge or understanding) and then present your findings addressing the issues noted in the assignment details.Your team presentation will be limited to 10 minutes (13 minutes for 4 members if applicable) and each member of the team must present a part of it demonstrating individual oral presentation skills. A separate mark will be given to each member of the team for individual presentation skills. You must discuss the selection of teams with your lecturer who may decide to allocate you into teams or form teams using a random process.The Assignment is designed to test the following skills:1. Your knowledge and ability to research the issues and apply information appropriately using judgement2. Your communication skills and teamwork: team presentations and written: memo writing.Part A Memo (15%) – This mark covers the technical content of your advice in the memo and the explanation on each of the issues, any calculations and the sources and references used, and the format of the memo.Part B Professional Competency Skills: Oral presentations (10%) – This mark covers the presentation skills of the individual student, the group overall as well as the technical content of the presentation.Please make sure you follow the guidelines relating to presentation of written work, late policy and academic integrity..Assessment InformationCOMMONWEALTH OF AUSTRALIA Copyright Regulations 1969This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The materialin this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protectionunder the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is aregistered higher education provider CRICOS Provider Code 02426B.Assignment details:Assume you work in a team of graduates for a large consulting firm. Many of the firm’s clients are service businesses. As part of your professional development, you have been asked to select a service business and advise that business on how to calculate the costs of providing the relevant services to clients as well as possible approaches to price setting that may suit the business. You are providing conceptual advice and whilst some calculations from example situations may aid your explanations, detailed calculations are not required.Write a memorandum (“memo”) (answers in report format may not be marked) addressed to the board of directors of the organisation chosen that covers these costing and pricing issues. You then need to prepare a presentation that could be used to persuade the board of directors of that organisation to hire your consulting company’s services. You should deliver the presentation as if the board of directors is your primary audience.Your analysis should include (focusing most on parts 2 & 3):1) A brief overview of the difficulties of calculating the costs of services (for all service organisations)2) Consideration of the particular difficulties in the calculation of the costs of services and of price setting in the business that you have chosen3) Consideration of management accounting techniques or tools which may help overcome these costing and pricing difficulties. Remember you are trying to persuade the board of directors that your consulting firm can really add value to their business4) Any other relevant matter that you believe will be of use to the board of directorsA presentation of 7-10 minutes to the class (in week 11) summarising your findings is required. The presentation is a collaborative effort, but part of the mark will be awarded on an individual basis (see marking guide below).The library databases (in particular Proquest via MyAthens) are a source of articles and other material for this assignment, but you can use other means also. Please consult with your lecturer / ASC for more details.In-text referencing is not required – however please provide a reference list after the end of your memo. After the reference list, please also provide your team meetings agendas and minutes.Please check the rubric for details of how to score marks, including for team meetings.Team MeetingsThe team should have a minimum of three meetings (the team may have as many meetings as they need to) and should maintain minutes of those meetings which should be included with the team assignment as an attachment. The minutes of meetings should (at the very least) contain -1) Where and when the meeting was held2) People present; absent; apologies3) What was discussed, any disagreements/conflicts, points that were agreed on;4) The follow up action relating to each member of the team;5) Any other relevant matters, anything else that is significant to the successful completion of the assignment.

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The purpose of this memorandum is to throw light on the various issues that crop up or will possess a difficulty while calculating the cost of providing the educational services by the company. As the BOARD is already aware of the fact the challenges faced by the service businesses are way different from that of that of manufacturing industry. The manufacturing industry mainly deals with the tangible items. The good thing about the tangible things is that their value is rarely dependent upon the judgement of the management. The price of the tangible products is fixed by the market on most of the occasions. This provides the management with ready-made sources of data and with the evaluation of this data the management can   determine whatever it wants. The problem with service sector is that it has to deal with the intangibles (Ball et al. 2014). The difference in valuation poses another challenge for the companies operating in this sector. This is because of the fact that in the absence of uniform pricing model or practices the competition is immense as any difference in pricing can get any company the competitive advantage. There is also an additional requirement of making the customers feel the need of the services made available by the company. For example it is easier for the companies to make the customers understand the need of a particular raw material or machinery and how they are going to affect the quality of the product of the company.

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