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ACCT2102 Case Study Page 1
ACCT2102 Intermediate Management Accounting
Semester 1, 2024
Case Study Individual Assignment
Aspen Pharmacare Holdings Limited
(Weight: 25% of Final Grade)
Due Date for Submission: 11:00AM Wednesday 8th May, 2024 (Brisbane Time)
This document has the following parts:
• Administration;
• Case Requirements; and
• Grading Rubric.
ADMINISTRATION
The purpose of this case study individual assignment is for you to:
i. Develop a comprehensive understanding of the organisation the case centres on, as well
as the broader context in which it operates (industry, economy, etc.);
ii. Identify and discuss management accounting information applications pertinent to a
significant material issue(s) of the firm, applying the concepts and theories learned in the
course ACCT2102 ‘Intermediate Management Accounting’; and
iii. Provide well-reasoned recommendations on which management accounting information
application the firm should adopt to best address its material issue(s).
Length, Formatting, and Page Limits
1. Your report should be a clear, concise, and comprehensive analysis. You are allowed up to a
maximum of three (3) typed pages.
2. Ensure your report adheres to the following format: 11pt Times New Roman font with 1.15
line spacing, and standard Microsoft Word margins.
3. Use of Headings: In your report, ensure to use the numbered headings exactly as provided
in the Case Requirements (e.g., 1.1. Operational and Strategic Characteristics, and so on:
see later in this document). Each of your responses should begin with the designated heading.
That is, structure your report around the provided headings below in this document.
4. Dedicate one additional page solely for a reference list. Include at least 2 references as
supporting evidence. You can provide more than two references if you choose. References
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ACCT2102 Case Study Page 2
should follow the APA style. Note: Referencing applies only to Section 1 (see Case
Requirements).
5. No quantitative analyses are required for this assignment. Please do not provide any.
6. Anything beyond the specified page limit (i.e., 3 page report + 1 reference page) will NOT be
marked.
Submission
7. Submit your Case Study Assignment on through:
• Turnitin via the provided link on the Blackboard site.
• Ensure submissions are in PDF format. You can submit multiple drafts until the due
date (but limited to three submissions within any 24-hour window), but only your
final submission will be evaluated. Include your name in the file name, for instance:
ACCT2102_Jane_Doe_s12345678.
8. Your work must be original and reflect your individual understanding of the case. Plagiarism
will not be tolerated. Familiarise yourself with the University's plagiarism policy.
9. There is no need for a hard-copy submission.
Grading: A detailed grading rubric is provided in this document to guide your approach.
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ACCT2102 Case Study Page 3
CASE REQUIREMENTS
• Familiarise yourself with the Grading Rubric (see end of this document) as it provides
guidance on evaluation.
INTEGRATED REPORT - ESSENTIAL READING
The focus firm for the case study is Aspen Pharmacare Holdings Limited (Ticker: APN, listed on
Johannesburg Stock Exchange). To address the case requirements:
1. Review the "Aspen Pharmacare Holdings Limited Integrated Report 2023" (see copy on
Blackboard).
2. Engage in independent research to supplement your understanding.
Understanding Integrated Reporting (Bridging Past, Present, and Future)
In recent years, there has been a significant surge in non-financial disclosures by major companies
worldwide. The International Integrated Reporting Framework (IIRF), introduced in December 2013,
was a response to bridge the gap between financial data and Environmental, Social, and Governance
(ESG) performance metrics. The IIRF's goal is to offer a comprehensive reporting format
encapsulating a firm’s governance, strategy, social, and economic standing.
Advocates for Integrated Reporting argue its superiority over traditional annual reports. By
consolidating financial and ESG data, it provides a holistic picture of a company's health and value
creation potential. This format is rooted in the belief that non-financial metrics are indicative of
future financial outcomes, while current financial figures represent historical data. Essentially,
Integrated Reporting elucidates how a business's sustainability initiatives and financial facets are
intertwined and contribute to its long-term growth trajectory.
[Section 1 begins on next page]
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ACCT2102 Case Study Page 4
Section 1: Company and Industry Analysis
Total Marks for Section 1: 4 Marks
This section requires you to systematically dissect both the micro and macro environments of Aspen
Pharmacare Holdings Limited (hereafter referred to as ‘APHL’). Understanding the broader picture
is essential to contextualise the management accounting applications you will explore later.
Use each of the numbered headings below. To be sure, write the numbered heading in your report
exactly as it appears in this document, then write your answer underneath the relevant heading.
1.1. Operational and Strategic Characteristics (1 Mark)
Explore the company’s core (discuss only two dot-points from the following list):
• Products & Services: What are the primary products and/or services provided by APHL, and
what unique benefits do they offer?
• Operational Capabilities: Analyse APHL's production capacity—how adaptable is it to
changes in health trends and demands?
• Market Positioning: Is APHL positioned as a cost leader or a differentiator in the industry
they are operating in?
• Market Presence: Investigate the geographical distribution of sales at APHL. Is the focus
more on domestic (South African) markets or international expansion?
1.2. Industry Dynamics and Competitive Landscape (1 Mark)
Illuminate the ecosystem in which APHL operates (discuss only two dot-points from the following
list):
• Competitive Intensity: Who are the major competitors in the industry, and what strategic
challenges do they pose?
• Production Costs: Examine the trend in industry-wide production costs and where APHL
stands in this landscape.
• Regulatory Environment: Identify any industry-specific regulations or global directives
affecting companies in the industry.
• Industry Evolution: Are there any significant technological innovations or regulatory
changes on the horizon that could disrupt the current market?
1.3. Broader Economic and Market Context (1 Mark)
Expand your lens to the wider business environment (discuss only two dot-points from the following
list):
• Pharmaceutical Markets: Explore the current market dynamics, including demand levels
and the volatility of product prices.
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ACCT2102 Case Study Page 5

• Demand Drivers: Identify macroeconomic and industry-specific factors influencing demand
for products and services of the firm.
• Alternative Solutions: In cases where there are alternative products, how might these
alternatives impact demand for the firm’s products?

Referencing and Evidence (1 Mark) [Note, no heading required for this point]
While your analysis in this section will serve as a foundation for the subsequent sections, it is
essential that your claims are substantiated. Ensure that you:
• Include a minimum of 2 references as supporting evidence. These can be academic
articles, industry reports, reputable news sources, or any other reliable resource.
• Follow APA style for both in-text citations and your reference list.
• Prioritise references that provide added depth and insight into your analysis.
[Section 2 begins on next page]
ACCT2102 Case Study Page 6
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Section 2: Management accounting information applications
Total Marks for Section 2: 16 Marks (8 Marks for each of the two applications)
Imagine you are the chief management accountant at APHL. According to their recent reports, two of
the most pressing matters faced by APHL include "Continuity of Supply" and "Execution of Business
Strategies," as outlined on Page 53 and Page 56 of APHL’s Integrated Report, respectively.
The Board has requested that, before their next meeting, you identify and discuss two (2) management
accounting information applications that would provide actionable insights for managers to tackle
these significant issues. For each application, you must delve into the specifics, making relevant
assumptions where needed, and applying theoretical concepts in a real-world context (i.e., applied to
APHL's details).
Again, you must use the numbered headings (i.e., as below) in your report. Provide your answers
underneath each heading.
2.1. Application 1: Harnessing Cost Behaviour and CVP Analysis for Aspen Pharmacare
Holdings Limited
Consider how understanding cost behaviour is crucial in addressing the risks related to continuity of
supply at APHL. Think about the following:
• Identify variable and fixed costs in APHL.
• Discuss how variable and fixed costs in APHL might react to external disruptions such as
pandemics or regulatory changes? What strategies could APHL employ to manage these costs
effectively?
Given the complexities of pharmaceutical production, pricing strategies, and market demand
forecasting, explore the role of CVP analysis:
• How can CVP analysis aid APHL in making informed decisions to ensure operational
excellence and the effective execution of business strategies?
• Consider the impact of global supply chain challenges on APHL's CVP relationships. What
insights can CVP analysis provide to navigate these challenges successfully?
2.2. Application 2: Decision Making and Relevant Costing at Aspen Pharmacare Holdings
Limited
Explore how relevant costing supports strategic decision-making processes, particularly in mitigating
risks highlighted in APHL's report:
• Discuss two specific types of relevant costing decisions that are covered in the course content
(i.e., Lectures 8 & 9) that are applicable to APHL. Refer to the five decision types in the
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ACCT2102 Case Study Page 7
lecture content (i.e., choose two from these five). For each decision, discuss which costs
might be relevant or irrelevant with case facts supporting your claim.
In all your discussions, it is essential that you emphasise the integration of course concepts with the
distinct challenges and operations of APHL. Basic explanations will not suffice; responses should be
explained in the context of the company and its industry landscape.
[Section 3 begins on next page]
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ACCT2102 Case Study Page 8
Section 3: Recommendations
Total Marks for Section 3: 3 Marks
This final section calls for you to synthesise your analysis into strategic recommendations for APHL,
drawing on the management accounting applications from Section 2.
Identify the management accounting application you recommend as most beneficial for APHL, based
on your analysis of the benefits and costs. Focus on:
• Concise Benefits Review: Highlight the key benefits of each application in the context of
APHL's strategic and operational goals. Aim to provide insight into how these benefits could
translate into competitive advantages or efficiency gains.
• Cost Considerations: Discuss the costs, emphasising any new insights or implications for
operational adjustments that have not been detailed previously. Consider the broader impact
of these costs on the company's financial health and operational capacity.
Presentation and readability
Total Marks for Presentation and Readability: 2 Marks
See grading rubric for details.


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ACCT2102 Case Study Page 9

Grading Rubric: Aspen Pharmacare Holdings Limited (Sem 1, 2024, Case Study for ACCT2102)
Note: These are to be read in conjunction with the Administration and Case Requirements as set out in this document.
Absence of
Achievement (0)
Minimal / Developing (1-49) Functional / Proficient (50-69) Advanced (70-84) Exceptional (85-100)
1. Company and Industry Analysis (4)
Purpose: To provide an informed analysis of the
case firms’ position in the market and
understand the dynamics of the industry.
Students should present unique insights and not
simply reproduce the case material verbatim.

No attempt made to
discuss relevant
information.
Offers basic descriptions of
characteristics with limited
insight or analysis.
Provides a clear analysis of the
characteristics, with some
insight into Aspen Holdings'
strategic and operational
positioning within the industry.
Detailed and insightful
analysis of characteristics,
demonstrating a strong
understanding of their
implications for Aspen
Holdings' strategy and
market position.
Exceptional analysis that
offers deep insights into
how the characteristics
position Aspen Holdings
within the industry,
considering market demands
and competitive advantages.
2. Management accounting information
applications (16)
Purpose: To identify and expound on how two
management accounting information
applications can aid the case firm in
understanding and navigating the industry's cost
dynamics. Integration of case facts and student’s
understanding of how course content is applied
is pivotal.
No integration of
case facts with course
content or relevant
management
accounting
applications.
Attempts to link case facts
with management accounting
applications but lacks
coherence or detailed
understanding of how they
address Aspen Holdings'
challenges.
Good integration of case facts
with management accounting
applications, showing a clear
understanding of their relevance
to Aspen Holdings' context.
Some areas may lack depth.
Strong integration of case
details with management
accounting applications,
highlighting key
challenges and objectives
of Aspen Holdings with
minor gaps.
Seamless and
comprehensive integration
of case facts with
management accounting
applications, providing
detailed insights into Aspen
Holdings' challenges and
strategic objectives.
3. Recommendations (3)
Purpose: To recommend actions that
management can undertake. Key considerations
include the feasibility, impact, and comparative
assessment of the two discussed applications.
No strategic
recommendations
provided.
Basic recommendations made
with minimal justification.
Lacks practicality or
relevance to Aspen Holdings'
situation.
Practical recommendations with
moderate justification. Shows
some level of comparative
assessment of the discussed
applications.
Well-justified
recommendations with a
clear comparative
assessment. Demonstrates
a good understanding of
the strategic implications
for Aspen Holdings.
Comprehensive and
actionable recommendations
with thorough comparison
and strong justifications.
Reflects a deep
understanding of Aspen
Holdings' strategic needs
and industry context.
4. Presentation and readability (2)
Purpose: To assess the coherence, structure, and
presentation of the student's submission,
ensuring it’s proofread and well-constructed.
Appropriate referencing, including both the
reference list and in-text referencing; must be in
APA format.
Submission is poorly
structured with
numerous errors
affecting readability.
Referencing not
provided.
Presentation has readability
issues and errors, lacking a
coherent structure.
Referencing is provided with
many errors.
Submission is adequately
presented, with minor errors.
Generally, good readability.
Referencing is provided with
few errors.
Well-structured
presentation with minimal
errors. Above-average
readability. Referencing is
provided with minor error.
Exceptionally presented,
perfectly structured with
flawless readability. No
errors. Referencing perfectly
adheres to APA format.
General Notes for Students:
• Originality: Ensure your analysis and insights are your own. Avoid over-reliance on excerpts from case material.
• Depth of Understanding: Application of course concepts to Aspen Holdings' context is essential. Go beyond mere descriptions to analyse and interpret.
• Coherence: Your submission should flow logically, clearly progressing from analysis to recommendations.
• Citation: Proper citation in APA style is crucial. All references must be accurately cited.
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