ACCT1102
Introduction to Management
Accounting
Group Assignment (30%)
s1 2024
CONTENTS
1. LEARNING OBJECTIVES ......................................................................................... 1
2. DATES ........................................................................................................................ 1
3. PROCEDURES ........................................................................................................... 2
4. PEER ASSESSMENT SCORING SYSTEM ................................................................ 3
5. GROUP ACTION PLAN ............................................................................................. 4
6. THE ASSIGNMENT TASK ......................................................................................... 5
1. LEARNING OBJECTIVES
The assignment task is to prepare a draft master budget. The learning objectives are:
1. Gain experience preparing ‘real-world’ budget models and analysis.
2. Apply management accounting principles: fixed and variable costing behaviors; cost-volume profit
modeling; flow of costs through inventory accounts to cost of goods sold; and links between
income, balance sheet and cash flow statements.
3. Develop Excel skills for financial models that are easy to navigate.
4. Develop analytical and communication skills by preparing a business style PowerPoint file.
5. Develop communication skills by presenting your PowerPoint in-class (in the final tutorial).
6. Gain experience in working in a group to perform a ‘real-world’ activity.
You MUST complete learning activities for Topics 5-8 before starting the assignment.
2. DATES
April 9th Topic 7 Lecture includes an assignment overview.
April 12th Deadline to form groups (or be allocated by the Course Coordinator).
April 26th Formative feedback window opens.
May 2nd (3pm) Formative feedback window closes.
May 7th (3pm) Deadline to submit Excel and PowerPoint.
May 20th – 24th In-class presentations in final week of Tutorials
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3. PROCEDURES
3.1 Files
Your group will be emailed a ‘unique’ Stylistic Excel workbook.
See on the BlackBoard the Essential Excel Functions for Management Accounting.pdf.
3.2 Formative feedback window – April 26th to May 2nd (3pm)
During the formative feedback window, your group can send a SINGLE email of your draft file(s)
to your tutor (you do not have to submit both an Excel and a PowerPoint file).
The formative feedback you receive will use the Marking Rubric (see tables 1- 3 later in this
document) – you will receive a score against each of the marking criteria.
3.3 Final submission process – May 7th (3pm)
Email submission:
One group member is to email the Excel and PowerPoint file to your tutor in a single email. The
email MUST cc in all other group members.
TurnItIn submission:
One group member must submit to TurnItIn (see BlackBoard for instructions).
Late submissions:
Late submissions, for which no extension was granted prior to the due date, will incur a penalty of
10% of the total assessment mark per calendar day late.
3.5 Peer assessment scores
For the final submission, you MUST complete the first worksheet in your Stylistic Excel workbook
for the Peer Assessment Scoring System.
3.6 Discussion Board and where/how to ask questions
Please ask questions on the Discussion Board on BlackBoard.
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4. PEER ASSESSMENT SCORING SYSTEM
The table below is in the first worksheet of your Stylistic.xlsx (as emailed to your group by Matt Peters – Course Coordinator)
Group work is an important part of business education. The purpose of group work goes beyond the requirements of the project itself . Group work is also intended to develop
awareness of the dynamics of teamwork and your role in a team environment. In undertaking group work it is expected each team member will communicate with other members
in a professional and courteous manner. Resolving any conflict or difficulties that arise within the team is also part of the group dynamics that may emerge during the project.
It is expected that each team member will take responsibility for managing and reducing any conflict that may arise. If the team members are unable to resolve tensions or conflicts,
then this MUST be discussed with your tutor as soon as it becomes obvious that a resolution within the team cannot be agreed. In the learning environment of group work we are
seeking to ensure that you develop and demonstrate both academic skills and important group work skills such as:
• Commitment to working with others (e.g., undertaking a fair share of the work, sharing ideas, doing the tasks allocated, attending meetings)
• Collaboration and inclusiveness (e.g., encouraging and respecting others; recognising skills and valuing the contribution of others, helping resolve conflicts)
• Contribution to establishing and working towards a common outcome (e.g., establishing and supporting team goals, plans, rules, roles, decisions)
First Name Last Name
Student
Number
(a)
Student 1
(b)
Student 2
(c)
Student 3
(d)
Student 4
(e)
Average of (a):(d)1
1 % % % % %
2 % % % % %
3 % % % % %
4 % % % % %
Total = 100% Total = 100% Total = 100% Total = 100% Total = 100%
If you have assigned group members non-equal percentages, you must be prepared to provide a statement explaining why you believe a group member/group members have not
contributed their fair share to the project, a breakdown of tasks you and others have completed in the project, an estimate of the time you think each of those tasks has taken and any
other positive or negative contributions made by you and others. This information will be shown to other group members so that they have an opportunity to respond.
While each group member’s comments will be taken into consideration, the final decision on how the marks are awarded will remain the right of the course coordinator.
1 The averages in this column are weights for distributing the group mark for the assignment. For example, if there is a group of 4 students, and each has an average of 25% in this
column, with a group mark for the assignment of 20, each student would receive an individual mark of 20. For example, if there is a group 2 students, and in this column student one
has an average of 66.67% and student two has an average of 33.33%, with a group mark of 20, student one would receive an individual mark of 26.67 and student two would receive an
individual mark of 13.33.
Please note: the maximum score of a student will be capped at 100%.
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5. GROUP ACTION PLAN
As the first step in your group assignment, you are strongly advised to prepare a group action plan.
This will help your group stay on task and coordinate different subtasks. The process of group
action planning encourages team members to:
• Explicitly articulate their expectations of the substantive content of each subtask.
• Decide upon the subtasks required to complete the assignment.
• Arrive at shared expectations amongst the team about the content of your assignment.
• Have a clear sense of what the group is trying to achieve and who is responsible.
It is up to you how you structure your group action plant. At least include:
1) A list of the tasks and subtasks required to complete the assignment.
2) Designation of who is responsible for each task and subtasks.
3) Expected completion date for each task and subtask.
4) Communication commitments: how and when communication will take place, what is the
maximum allowable reply/response time to emails/texts.
5) Managing under-performance; Consider agreeing to the following processes:
o The concerned group member will approach the relevant under-performing member
one-on-one, offline and discuss their concerns calmly and respectfully.
o The concerned group member will seek to understand the reasons why the under-
performing group member is not fully participating.
o If the one-on-one meeting does not resolve the issue, the concerned group member can
request that the issue be included on the agenda for discussion at the next group
meeting.
o In the event that one or more group members continues to not live up to responsibilities,
the group agree that the under-performing group member will receive a negative peer
evaluation from the other group member.
Do not submit your group action plan – it is for your group only.
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6. THE ASSIGNMENT TASK
You are trainee management accountants at Stylistic. Your task is to prepare, analyze, and communicate
three additional 2025 budget scenarios. There are three requirements:
1) Complete your group’s Stylistic Excel model adding in the three new scenarios.
2) Complete the PowerPoint file.
3) Communicate the PowerPoint presentation in-class.
Context
The following is a recent conversation between the CEO and CFO of Stylistic.
Sally (CEO): “I have big news. The board of directors has just agreed to consider a potential strategy
change starting in 2025. We need some more 2025 budget modelling to help us make a major
strategic decision. We need three additional budget scenarios.”
John (CFO): “Okay, so will treat the current budget model as scenario 1. We will then add into the
Excel model the new scenarios 2, 3 and 4.”
Sally: “We must present the four budget scenarios at the next board of directors meeting. We will email
them the PowerPoint file for pre-reading. It goes without saying the Excel model better be
calculated correctly. I want the board of directors to be totally comfortable with what we are
presenting and be left with no doubts. This is a potentially major strategic change.”
John: “What are the three new scenarios?”
Sally: “Scenario 1 is the continuation of our current product growth strategy. The new chairs product
being developed has no 2025 volumes and the machine purchase for it is not depreciable in
2025 either. Scenario 2 strips out the Product Design fixed cost and the Machinery Purchase
for chairs. Scenario 2 is the base case for a product hold strategy.”
John: “So scenario 2 is the hold base case. We just take scenario 1 and strip out those two items. Then
analyse the impacts to Net Income and cash management.”
Sally: “Scenario 3 is the hold-and-sell case. We want to maximise Net Income with a view to selling
the Stylistic business sometime after 2025 based on strong profits.”
John: “Okay, so scenario 3 takes scenario 2 and changes it to absorb more fixed manufacturing
overhead in a large ending inventory balance. That will require intensive working capital.”
Sally: “Scenario 4 is the hold-and-acquire case. It would maximise cash at end of 2025, to fund an
acquisition of another business overseas. The idea is to enable us to use that acquired business
to export our Casual and Deluxe products internationally sometime after 2025.”
John: “So scenario 4 is the same as scenario 2, except less debt and minimal ending inventories.”
Sally: “Are your sure your management accountants can do this correctly and effectively so quickly?”
John: “Well if they don’t do it effectively it will be me who is ultimately responsible. It’ll be my head
on the chopping block. I will have to check it thoroughly. I have already sourced all the
information we need. We will start working on it straight away.”
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Requirement 1: Complete your group’s assigned Stylistic Excel file.
Your group will be emailed your Stylistic Excel file.
1) Do the interactive Excel activity called “Stylistic Master Budget 2025 (Scenario 1)”.
• It is in the Topic 7 subfolder of the Learning Resources folder.
• See the SOLUTION file too.
2) Watch the recording “Stylistic assignment Excel procedures demonstration.”
• It is in the Group Assignment sub-folder in the Assessment folder.
• Complete the purple worksheets according to how they are done in the recording.
• You must submit a single Stylistic Excel workbook file with all four scenarios as worksheets.
• Your workbook will also have the worksheets for the Marking rubric.
Table 1: Marking rubric for requirement 1
Marks
1.0 Peer Contribution Scoring worksheet is correctly and completely fulfilled.2
1.1 Executive Summary: Absence of feedback errors for all four scenarios. 1.00
1.2 Executive Summary: Scenario 2 can be changed to replicate Scenario 1.3 1.00
1.3 Executive Summary: Scenario 3 can be changed to replicate Scenario 1. 1.00
1.4 Executive Summary: Scenario 4 can be changed to replicate Scenario 1 1.00
1.5 S1 v S2 Analysis: Absence of feedback errors. 0.50
1.6 S1 v S3 Analysis: Absence of feedback errors. 0.50
1.7 S1 v S4 Analysis: Absence of feedback errors. 0.50
1.8 S2 v S4 Analysis: Absence of feedback errors. 0.50
1.9 Summary worksheet: Absence of feedback errors. 1.00
1.10 Formatting and presentation: Consistency4 1.50
1.11 Formatting and presentation: Attention to detail 1.50
Total 10.00
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Peer Contribution Scoring is only compulsory for final submission (not for formative feedback submission).
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Your Tutor will (1) change the inputs of Scenario 2 to equal those of Scenario 1 then (2) check the outputs
change to equal those correct for scenario 1.
4 It takes time and refinement to format financial tables to a high standard. Apply the following guidelines:
a) Use consistent formats within and across tables.
b) Do not use colour shading; stick to ‘plain and simple black and white.’
c) Use $ very sparingly.
d) Excel table extracts should be appropriately formatted, e.g., present figures in $M (for example, $0.18M
for $180,000, or $1.2M for $1,180,000).
e) A general rule is that the minimum font size of tables in the Word report should be size 10.
f) Limit the use of decimal points. Every number takes time and attention to read. It is easy for a reader to
get information overload and lose sight of essential high-level information.
g) Do not use 'rounding' functions. Excel defaults to calculating based on ~15 decimal points. When you
format the cells in Excel, minimize the presentation of decimal figures (e.g., a value of
'2.12345678912345000000000' might be used for calculating but format to as '2.1'). Reuse the formatting
protocols in the Excel File; use the Format Painter function.
h) Cut out duplication in your model.
i) Tidy up the formatting when you have 'fresh eyes'.
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Requirement 2: PowerPoint file
Design your file to have the seven slides according to the marking rubric. The better the quality of your
slides the better can be the quality of your in-class presentation (for Requirement 3).
Table 2: Marking rubric for requirement 2
Marks
Title slide
1a) Include your names and student numbers. 0.10
1b) Include a self-descriptive title. 0.20
Executive Summary
2a) A headline statement summarizing what has been done and why. 2.00
2b) Comments and bullet points must discuss the numbers in high level terms only. 2.50
See the Appendix for two examples of this style of presentation.
S1 v S2 Analysis
3a) A headline needs to summarize the differences and analysis. 0.50
3b) Comments and bullet points must discuss the most important issues. 0.50
S1 v S3 Analysis
4a) A headline needs to summarize the differences and analysis. 0.50
4b) Comments and bullet points must discuss the most important issues. 0.50
S1 v S4 Analysis
5a) A headline needs to summarize the differences and analysis. 0.50
5b) Comments and bullet points must discuss the most important issues. 0.50
S3 v S4 Analysis
6a) A headline needs to summarize the differences and analysis. 0.50
6b) Comments and bullet points must discuss the most important issues. 0.50
Summary
7a) A headline needs to summarize the differences and analysis. 1.00
7b) Do not make any recommendations about budget approvals. 0.20
Total 10.0
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Requirement 3: In-class presentation
Present your PowerPoint file in-class (hypothetically to the CFO).
Rules:
1) The strict maximum time per group presentation is 8 minutes.
2) All group members must present some slide(s).
3) Only the PowerPoint file submitted by email to the Tutor can be presented.
4) Each group must bring the PowerPoint file to the in-class presentation on a USB stick.
5) Introduce yourselves (the Tutor must know the name of each of your group members for giving
you your individual feedback).
Individual group members will be given the feedback from the marking rubric below. All group
members will receive the average score of all group members. This is to encourage you to collaborate
as a team (no hogging the limelight).
It is highly recommended your group have several rehearsal presentations (on Zoom for example).
If your presentation is unclear, you will give the impression your financial modeling and analysis lack
competence – the audience must have confidence in you to have confidence in your calculations.
Table 3: Marking rubric for requirement 3
Weight
Speaker 1
3.1.1 Does not use speaker notes. 33.3%
3.1.2 Focuses on audience: not reading the computer/presentation screen. 33.3%
3.1.3 Clear speaking: pace not too slow or fast; inflection in voice. 33.3%
Speaker 2
3.2.1 Does not use speaker notes. 33.3%
3.2.2 Focuses on audience: not reading the computer/presentation screen. 33.3%
3.2.3 Clear speaking: pace not too slow or fast; inflection in voice. 33.3%
Speaker 3
3.3.1 Does not use speaker notes. 33.3%
3.3.2 Focuses on audience: not reading the computer/presentation screen. 33.3%
3.3.3 Clear speaking: pace not too slow or fast; inflection in voice. 33.3%
Speaker 4
3.4.1 Does not use speaker notes. 33.3%
3.4.2 Focuses on audience: not reading the computer/presentation screen. 33.3%
3.4.3 Clear speaking: pace not too slow or fast; inflection in voice. 33.3%
Total will be scaled to the group to be out of a maximum possible: 10 marks
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APPENDIX: Example of required slide presentation style (clear headline, comments discuss important numbers tabled)
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APPENDIX: Example 2 of required slide presentation style (clear headline, comments discuss important numbers tabled)