ACCY918 - Applied Management Accounting - Accounting and Finance Assignment Help

Assignment Task :

1. Introduction (ACCY918)

This task is designed to provide students with an opportunity to demonstrate their understanding of the concepts and techniques in management accounting, through the application of relevant material(s) covered in the subject and its prerequisite subject, to a real world case study. It involves the analysis of data and information relating to CSL Limited from a management accounting point of view. Students are required to prepare a report in an academically acceptable form which comments on various aspects of the company. 

 Learning Outcome 

• Differentiate and apply different management accounting information and cost systems. 

• Apply basic contemporary management accounting techniques for planning, controlling and decision making. 

• Evaluate financial information relevant to management decision making. 

• Communicate findings and/or recommendations to relevant audiences. 

• Apply accounting information systems such as Excel to assist in business decision making. 

A. Provide a brief summary of the company. Include details such as the industry sector, primary activities, and recent performance. The importance of this section is to effectively introduce the company, the nature of its business, identify the company’s profit drivers and key risks, etc. This should be written in paragraph format.

B. Identify and comment on the Vision, Mission and key strategies of the company 

C. Provide a financial statement analysis of CSL Limited for 2019 using ratios and comment on the following aspects of the company 

I. Liquiditz 

II. Efficiency

III. Leverage

IV. Profitability 

V. Market value

VI. Overall financial performance and financial status 

D. Identify five measures that the company has taken to promote sustainability 

E. Prepare an analysis and summary of the major financial and non-financial strengths and weaknesses of the firm. Financial strengths and weaknesses are generally based on significant observations of your analysis (financial statements and ratios). Non-financial strengths and weaknesses are based more on anecdotal and specific evidence from research, etc. Based on your analysis in this section, indicate the company’s strategies for solving its problems and its outlook for the future 

F. Use the figures in the consolidated income statement of the company annual report and prepare the followings on an Excel Spreadsheet: 

(i) Summarised absorption costing income statement for 2019 showing operating profit of the company (Hint: You may need to ignore some revenue and expense items presented in the current consolidated income statement and consider 2,504.0 operating profit as the bottom-line profit). 

(ii) Summarized contribution margin income statement for 2019. You may need to use appropriate cost classification methods and assumptions for this purpose. Assume all expenses are either variable or fixed except for cost of sales and selling and marketing expenses which should be classified as mixed costs. Cost of sales can be separated out to fixed and variables costs assuming that 40% of the total cost of sales in 2019 consist of fixed manufacturing overhead costs while selling expenses could be separated using high low method with annual sales units as the measure of unit level. You may consider sales for 2018 and 2019 as a measure of level of activity for estimating cost function. 

(iii) Budgeted income statement for 2020. This statement should be prepared using the contribution margin income statement you prepared in requirement (F.ii) above and making realistic and logical assumptions about the trends. You are not required to prepare operational budgets such as sales budget, production budget, to prepare a budgeted income statement. 

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