HA2011 Managerial Accounting

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HA2011 Managerial Accounting

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HA2011 Managerial Accounting Trimester 1 2018 Group Assignment Assessment Value: 20% Instructions : 1. This assignment is to be completed by a group of not more than 4 students. 2. Students must report the names and student IDs for all group members to the lecturer of their class by e-mail before the end of week 8. 3. This assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook. 4. It is the responsibility of the group who is submitting the work, to ensure that the work is in fact their own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking on Blackboard before final submission in the subject. For further details, please refer to the Subject Outline and Student Handbook. 5. Maximum marks available: 20 marks. 6. The word limit for the assignment is 3,000 words. Please use “word count” and include in report. 7. Due date of submission: Week 10, Friday at 5.00 p.m. 2 Background: You are recently employed as a graduate consultant in a management consultancy firm and are assigned to a team. One of your firm’s clients is currently evaluating its budgeting system. The CEO of your client had recently attended a seminar on Balanced Scorecard (BSC) in private companies and would like to know whether BSC is suitable to the company. Your manager has asked your team to prepare a report for the client. Required: Your group is required to prepare a report to comment on the suitability of BSC for a company of your group’s choice (your firm’s client). The report should cover the followings: a) A description of your firm’s client b) A description of the BSC and its features c) In what ways BSC is different from traditional performance measurement systems d) A discussion on whether the BSC is suitable to your firm’s client

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Being a consultant in a management consultancy firm, we come across many clients who are running big business in the market. Saying big business means that they handle big amount of data with huge number of employees working for them. It is a protocol to have a well managed financial system as well as performance management system for the employees in an organization. Many of the clients follow the traditional performance management system. We came across a client who had attended a seminar on Balanced score card in private organizations. It was asked by our manager to prepare a report on the same. While we were working on the report we came across many astonishing facts about balanced score card which was never known to us and has created a difference between the traditional performance management and BSC

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