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ACCT1102-无代写
时间：2023-04-29
ACCT1102 Topic 7: Budgets - GROUP ASSIGNMENT
18
Group Assignment (30%)
CONTENTS
1. LEARNING OBJECTIVES ....................................................................................... 18
2. ADMINISTRATION - INSTRUCTIONS ................................................................... 18
3. PEER ASSESSMENT SCORING SYSTEM .............................................................. 20
4. GROUP ACTION PLAN ........................................................................................... 21
5. THE ASSIGNMENT TASK ....................................................................................... 22
1. LEARNING OBJECTIVES
1. Gain experience in preparing a ‘real-world’ master budget.
2. Develop skills in using Excel spreadsheet functionality to design and organize a
complex budget model that is presentable, easy to navigate, and configured to easily
perform sensitivity analysis and goal seek.
3. Develop skills in business style communication by preparing Word and PowerPoint
files for the budget.
4. Gain experience in working in a group to perform a ‘real-world’ activity.
2. ADMINISTRATION - INSTRUCTIONS
You MUST complete the learning activities for Topics 4-7 (all four budgeting topics)
before starting the assignment.
2.1 Key dates:
April 5th Seminar for Topic 7 includes an assignment overview.
April 5th Deadline to form groups.
May 2nd Formative feedback window opens.
May 9th @ 3pm Formative feedback window closes.
May 12th @ 3 pm Deadline to submit three files by email and to TurnItIn.
May 22nd – 26th Student Presentations in Tutorials
ACCT1102 Topic 7: Budgets - GROUP ASSIGNMENT
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2.2 Files:
Your tutor will email your group a Stylistic Budget Draft 1.xlsx individualized
with distinct nuances (no cheating between groups will be tolerated).
From BlackBoard, download Essential Excel Functions for Management
Accounting.pdf. This is a must for all students.
2.3 Groups:
• See Announcements on BlackBoard for instructions on forming groups.
• Your final submission must include Peer Assessment Scores (see below).
2.4 Formative feedback window
• 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 all three files).
• The formative feedback uses the Marking Rubric (see end of this document) –
you will receive a score for each marking criteria and out of the total of 30.
• This formative feedback from your tutor is in addition to the automated
formative feedback panels in the Excel file (discussed later).
2.5 Submission process for May 19th:
Email submission:
• One group member emails the three submission files (Excel, Word and
PowerPoint) to your tutor in an email that MUST cc in all group members.
TurnItIn submission:
• One group member submits 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.
2.6 Peer assessment scores:
• You MUST complete the first worksheet in your Assignment Template.xlsx -
the Peer Assessment Scores (discussed next page in this document).
2.7 Discussion Board and where/how to ask questions:
• Please ask questions on the Discussion Board on BlackBoard.
GROUP ASSIGNMENT
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3. PEER ASSESSMENT SCORING SYSTEM
The table below is in the first worksheet of the your Stylistic Budget Draft 1.xlsx (emailed to your group by your Tutor)
Group work is an important part of business education. The purpose of group work goes beyond the requirements of the group 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 that each team member will communicate with other team 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 tutor.
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. With this method, a student can receive an individual mark higher than the maximum possible (i.e., 100%) group mark.
GROUP ASSIGNMENT
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4. 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 of the
assignment.
• 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 for what.
It is up to you how you structure your group action plant. At least include:
a. A list of the tasks and subtasks required to complete the assignment
b. Designation of who is responsible for each task and subtasks
c. Expected completion date for each task and subtask
d. Communication commitments: how and when communication will take place, what is the
maximum allowable reply/response time to emails/texts.
e. Managing under-performance: what will you do if someone feels that others are not doing
their job? Consider agreeing to the following processes:
• The concerned group member(s) will approach the relevant under-performing
member one-on-one, offline and discuss their concerns in a calm, respectful manner.
• The concerned group member(s) will seek to understand the reasons why the under-
performing group member is not fully participating.
• If the one-on-one meeting does not resolve the issue, the concerned group member(s)
can request that the issue be included on the agenda for discussion at the next group
meeting.
• 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(s) will
receive a negative peer evaluation from other group members.
Do not submit your group action plan – it is for your group only.
GROUP ASSIGNMENT
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5. THE ASSIGNMENT TASK
Redrafting the Stylistic Furniture Budget
You are a group of trainee management accountants working for the CFO at Stylistic Furniture.
Your assignment task has three requirements:
1) Redraft the budget Excel model using information provided.
2) Concisely communicate the redrafted budget in a business style Word report.
3) Concisely communicate the redrafted budget in a PowerPoint presentation.
Context
Stylistic is trying to finalize a 2024 budget that aligns with its strategic plan profit aspiration. Draft
1 of the budget was rejected by the board of directors. The following is a recent conversation between
the CEO and CFO about needing to do draft 2 of the budget.
Sally (CEO): “I have news. The board of directors has just agreed we can change the business
strategy from two product to single product in 2024. They want us to go ahead and propose
to them a draft 2 of the 2024 budget on that basis.”
John (CFO): “Hopefully this transformative change to our business strategy will give us a workable
basis for achieving the strategic plan profit aspirations in 2024.”
Sally: “You and I must present budget draft 2 at the next board of directors meeting and hopefully
get their approval for it. As usual, I want to email the board of directors a Word report for pre-
reading before the meeting. And then of course we need a PowerPoint presentation for you
and I to present at the board meeting. You really must make these documents as concise and
comprehensive as possible. And, of course, it goes without saying, that 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. With this strategic change we are already facing
some doubts from some directors about our managerial competencies.”
John: “In the report and presentation we need to make clear several points. The two product strategy
differentiator was losing competitive fitness because all of our main competitors were
pursuing a similar strategy. That opens up the opportunity for us to make a rapid change to a
single product cost leadership strategy. The report and presentation need to communicate how
we are proposing to implement the strategic change explicitly in dollar terms. At the end of
2023 we will cease selling both Casual and Deluxe tables. On day one of 2024 we will start
only selling Casual tables, we will drop the selling price, and change some fixed marketing
expenses for advertising. We have more than enough spare manufacturing capacity that we
can use to increase our manufacturing and sales volumes. Currently we have high fixed costs
that we are not spreading over enough sales volume, and this is what is really holding us back
from hitting our strategic plan profit aspirations. This will hopefully help us achieve the cost
leadership capability to rapidly grow sales volumes and unexpectedly and aggressively take
market share.”
Sally: “With our change to a single product cost leadership strategy we do not need to design new
products – so cut those costs out of the budget. Our current products are currently quite
innovative. Over time they will become less innovative relative to the new product designs
GROUP ASSIGNMENT
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our competitors will likely introduce but that is consistent with us taking a single product-
based cost leadership strategy.”
John: “Profitability will depend on absorbing the higher fixed costs across more sales volume. We
need to concisely and comprehensively communicate what fixed costs are being added to
implement the cost leadership strategy, and we need to clarify which are committed costs, like
capital expenditure, and which are discretionary, like advertising, that we can avoid in future
if things don’t go to plan.”
Sally: “We need to know how the updated draft budget compares to this year’s full year forecast, and
to the budget draft 1, and to the strategic plan. We need to present four cases. First, the base
case is for Casual tables only, to align with the 2024 strat plan profit. Second, for Deluxe
tables only, to align with the 2024 strat plan profit. Third, for Casual tables only, to breakeven.
Second, for Deluxe tables only, to breakeven.”
John: “No worries, boss. Hopefully my management accountants will manage their time effectively
and have the ability to do some supplementary analysis and some graphs to help inform us
about some of these profitability uncertainties. We need to analyse the volume and cost
changes in detail between draft 1 and draft 2. It is good to know that we have ample
manufacturing and distribution capacity for the new strategy.”
Sally: “Are you sure management accountants are up to this task?”
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 for draft 2, so we can start working on it straight away.”
GROUP ASSIGNMENT
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Requirement 1: Redraft the Budget Excel Model
Your group’s individualised Excel file (emailed to you by your tutor) will have the same numbers
as the Stylistic Master Budget.xlsx from the Textbook and Lecture 7. This is draft 1 of the budget
and it is the basis for you to develop draft 2. It will have four more inserted worksheets:
Worksheet #1: Strategic Change Information
Contains data for draft 2.
Worksheet #2: Sensitivity Analysis Table
For designing the Excel model to be ‘driven’ by the Live Case. Use goal seek for all cases.
To populate, copy and paste-values from the Live Case. (See the recording of Lecture 7 for
how to do this – BEFORE you start your Excel modelling).
When you submit your Excel file set the Live Case in worksheet #2 to the Base Case – then
all the other tables in the workbook (e.g., Executive Summary) will also have the Base Case
(the Base Case is Casual tables with a volume that aligns the draft 2 budget profit to the
2024 Strategic Plan profit).
Worksheet #3: Executive Summary Tables
Contains two tables that you need to dynamically link to feed off the Live Case modelling.
Worksheet #4: Supplementary Analysis (for Tables and Graphs)
Design no-more-than two Supplementary Analysis Tables, and no-more-than two
Graphs/Charts (quality not quantity). Some suggestions for Tables and Graphs are provided
in Worksheet #4. See Marking Rubric criteria 1.6 and 1.7. Add extra worksheets if needed.
Suggested sequence of steps:
Step 1: Use the data in worksheets #1 and #2 to convert the model to draft 2 – link it into
relevant tables by adding cells/rows/columns and updating existing formulas. Preserve the
structure and formatting of the Excel model - the CFO will be confused and angry if you
change or rearrange it. Use the automated formative feedback panels (discussed later).
Step 2: Complete the goal seek process for the Base Case in Worksheet #2. Use the formative
feedback panels (discussed later).
Step 3: Link your Executive Summary tables in worksheet #3 into the model. Use the
formative feedback panels (discussed later). When you submit, set the Live Case to be the
Base Case (so your model is reporting the base case for draft 2).
Step 4: Design and add Supplementary Analysis tables and graphs.
Note: When you transition to developing your Word and PowerPoint files you may find you
need to redevelop and refine your Supplementary Analysis tables and graphs.
GROUP ASSIGNMENT
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Automated Formative Feedback Panels - in the Excel file.
There are automated formative feedback panels in five worksheets:
• Cashflow
• Net Income Statement
• Balance Sheet
• Sensitivity Analysis
• Executive Summary
The panels have cells shaded red with white font. Aim to get all these to have zero error
variances - then you will have calculated the draft 2 budget correctly!!! Do not delete any of the
panels - your Tutor needs them for marking.
Tips on producing a business style Excel model.
Your Excel model should be detailed but well organized. It takes time and refinement to format financial
tables to a high standard. Apply the following guidelines:
• Use consistent formats within and across tables.
• Do not use colour shading: stick to ‘plain and simple black and white.’
• Use $ very sparingly.
• 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).
• A general rule is that the minimum font size of tables in the Word report should be size 10.
• Limit the use of decimal points (every number in a table takes time and attention to read and it is
very easy for a reader to quickly get information overload and lose sight of what is essential high-
level information versus what is just low-level detail). Do not use 'rounding' functions in Excel.
Excel defaults to calculating based on ~15 decimal points. When you format the cells in Excel,
minimize the presentation of decimal figures as much as possible (e.g., a value of
'2.12345678912345000000000' might be used for calculating but format the decimal points to
show that value as '2.1'). Use the formatting protocols that come with the Financial Model
Template File and use the Format Painter function.
• Cut out duplication in your model (to avoid it being unnecessarily complicated and large).
• Be consistent with using $000's.
• Tidy up the formatting when you have 'fresh eyes'.
GROUP ASSIGNMENT
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Requirements 2 and 3: Communication of the Redrafted Budget
The CFO will be the immediate audience for your updated draft budget. They will need to be
comfortable that the calculations are correct and concisely communicated. When they are comfortable
they will pass it onto the CEO. Assume that the CEO will only look at the Word and PowerPoint files
(only the CFO will look at the Excel model).
The aim is to clearly communicate the redrafted budget in terms that address the points of interest
and concerns raised by the CEO and CFO in the Context section at the beginning of this document.
The sensitivity analysis and any further analysis should inform this communication.
Requirement 2: Written Report
The report must be based on tables and information you extract from your Excel model.
Use a formatting style similar to this document – aim for 4 to 7 pages in length (this length does
not include Appendices).2 Your report should be concise and comprehensive:
• Choose words deliberately and precisely.
• Refer to and discuss key numbers from tables extracted from Excel.
• Construct paragraphs and sentences carefully to eliminate unnecessary words.
• Use grammar properly.
• Get straight to the points in ways the audience can easily comprehend.
• Use white space strategically to help readers understand how the parts make up the whole.
Use the following report structure:
Cover page (page 0): title plus student names/numbers
Executive summary (page 1): including copies of the two executive summary tables from
the Excel model.
• Start with a purpose that clearly summarizes the ‘what, how, why and when’ for the report:
the first sentence should start with “The purpose of this report is...”.
• Use positive language.
• Include and refer to the executive summary table. For example, text you might include is,
“With the increase in volumes, revenue has increased by M$a.aa (yy.y%) and profit has
increased M$b.bb (xx.x%) ….”
• The executive summary including tables should be no more than one page.
• When writing the report it is recommended you do the Executive Summary last – because
then you can summarise what is already in the report.
2 Aim for a report length that is concise and comprehensive. Read the marking rubric to see what is required. There is a
lot of flexibility in how a business style report format might be produced. You might use few or many tables. You might
use few or many bullet points. You could use varying degrees of white space. You might let the tables do a lot of the
communication, or you might have minimal tables and write lots of text. Some of the best reports are short and have
effective tables with very clear and concise writing. Some of the worst reports are also very short, but have poorly designed
tables and text that misses the main points. At the same time, some of the best reports are very long but well designed,
while some of the worst reports are also very long but poorly designed.
GROUP ASSIGNMENT
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1.0 Introduction (page 2):
Provide a brief quantified overview of what has changed from the draft #1 budget.
2.0 Draft financial statements
Include the tables from Excel and discuss and refer to them, e.g., “Table 2 presents the
redrafted income statement, showing an expected $3.1m in full-year profit…”
3.0 Sensitivity analysis
Include the table from worksheet #2 and discuss and refer to it, e.g., “Table 6 presents
sensitivity analysis. For sensitivity case #1 the profit is $1.1m (25.2%) more than the base
case…”
4.0 Further analysis and considerations
If you designed and added new tables insert them here and refer to and discuss them.
5.0 Summary
Start by concisely restating the purpose of the report.
Restate the key numbers.
Do not include any new financial information or tables.
Appendix (only for significantly detailed tables if required).
Consider including significantly detailed tables only in the appendix - alternatively, leave
them only in the financial model file.
GROUP ASSIGNMENT
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Tips on producing a business style Word report
This document is in a business style format, with clear headings, tables, bullet points, carefully
constructed paragraphs, and simple short sentences. Avoid long paragraphs that are 'hard-to-quickly-read.'
Presentation quality
If your Word report lacks attention to detail, you could give the impression that your financial
modeling and analysis also lack attention to detail. You need your audience to be confident that the
calculations are correct.
Arrangement
The content development and organization of ideas must clearly reveal the purpose and
implications of the analysis. You should:
• Use tables in the body, and place detailed tables in an appendix (but consider if those detailed
tables do indeed provide information useful for the decision-makers).
• The flow should be logical and organized.
• Keep similar information together.
• Keep each section or paragraph about one main idea. Each paragraph should start with a key
sentence that summarizes the idea of that paragraph.
• Use graphics (charts, graphs, diagrams, and tables) where appropriate.
• Eliminate unnecessary and/or obvious information given your audience.
Style
So that your writing is confident and clear, bear in mind the following:
• Turn nouns into verbs (e.g., instead of “We would like to make a recommendation that…” write
“We recommend that…”).
• Use simple terms (e.g. rather than "utilize" write "use").
• Use an active instead of passive voice (e.g., instead of “The report was submitted by the team
to the CEO” write “The team submitted the reports to the CEO”).
• Use simple sentences (e.g., instead of “Obviously, this means we will need to raise prices, which
could reduce sales,” write “Our need to raise prices could reduce sales”).
• Do not refer to sources (i.e., references) for this draft budget assignment.
Formatting
• Headings can skilfully underscore the main points, form white space, and make it easy for
readers to scan the document.
• Bullet points work well for series of items. They can convert large amounts of information into
small parts, making the reading experience smooth and the file easier to navigate.
• Italics and bold face emphasize specific points.
• Tidy up the formatting when you have 'fresh eyes'.
Tables
Tables are essential when presenting financial information. Apply the following:
• Tables must have a clear heading that concisely frames the information in the table for the
reader.
• Some tables can be high-level (e.g., in the Executive Summary) while others can be more
complex and detailed.
• Text must refer to important information in tables text (e.g., ‘as per Table 2, the profit is $1.0m’).
Maps, flowcharts, and diagrams
Only use these if needed for complex data or concepts, to show connections that text alone cannot
explicate clearly.
GROUP ASSIGNMENT
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Requirement 3a: PowerPoint file
PowerPoint is the conventional presentation tool in practice (managers tend to stick very
conservatively to conventions). The PowerPoint file you design must be based on tables from your
Excel file - it should be a condensed version of the information from your Word report but prepared
in a style and format that is effective for PowerPoint.
Your PowerPoint file should have 5 to 7 slides (including a Title slide). The analysis and
information should flow smoothly and give a parsimonious summary of the updated draft budget.
Consider using these structural elements:
• Title slide
• Executive summary slides: with purpose and background.
• Body slides: explanations and illustrations of major parts and analysis.
• Conclusion slide: summarize main numbers and points.
Importantly:
• Include Excel table extracts and information (including executive summary tables),
headline statements and all the critical information about the nature of the strategic and
financial performance impacts. Do not include detailed tables.
• Communicate high level financial information in tables with normal font sizes - do not
use small font sizes. Do not provide insignificant details in tables.
• Use clear headline statements on slides, e.g., ‘The sales volume of 53,500 is expected to
enable $15.1m of revenue and $2.1m of profit.’
• Outline and discuss strategic issues.
Tips for producing a business style presentation file.
Presentation quality
If your PowerPoint presentation is unclear, then you will give the impression your Excel modelling
and analysis lack competence – the audience must be confident that the calculations are correct.
Arrangement
• The headline of a slide should have one message.
• A typical slide should have a single table or image.
• Use textboxes where appropriate to point the reader to key information in tables.
• Keep the structure and style simple and professional – go for a conservative rather than a
colourful style.
• Use the largest font only for the most important information on the slide.
• Tidy up the formatting when you have 'fresh eyes'.
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Requirement 3b: In-class Presentation
Present your PowerPoint file from requirement 3a in your tutorial class in the last week. Imagine
it is to the CFO and CEO.
Rules:
1. The strict maximum time per group presentation is 4 minutes.
2. Each group decides how many of its students will be ‘presenters’ of their PowerPoint.
3. If a ‘presenter’ is enrolled as an INTERNAL they must present face-to-face (that is, they
must attend the Tutorial classroom for the presentation).
4. If a ‘presenter’ is enrolled as an EXTERNAL they must present over Zoom.
5. A group presentation can combine face-to-face and Zoom ‘presenters’. But be careful about
who will click through the slides during the presentation.
6. All students are expected to attend the presentation tutorial even if they are not a ‘presenter’.
Students who are not a ‘presenter’ can attend face-to-face or on Zoom (regardless of their
being INTERNAL or EXTERNAL).
7. Only the PowerPoint file that the group submitted by email to their Tutor can be presented.
8. For each group, the PowerPoint file must be brought to the tutorial on a USB stick or else
shared by a 'presenter' on Zoom.
9. 'Presenters' who present over Zoom must show their face over video camera.
10. The presentation will marked only on the Marking Rubric criteria: 3.4 Smoothness of in-
class presentation delivery (2.0 marks); 3.5 Presenter(s)' level of familiarity with important
details (2.0 marks)
11. The Google spreadsheet has the order of group presentations in each tutorial.
Tips for your in-class presentation
Bear in mind these important criteria when presenting in-class:
• Focus on the audience: make eye contact with audience members - do not read or focus on the
computer screen. Do not use speaker notes.
• Use clear and understandable speaking: use a reasonable pace, not too slow or fast; use inflection
in your voice.
• Overall, if your presentation is unclear, you will give the impression your financial modelling and
analysis lack competence – the audience must have confidence in you in order to have confidence
your calculations in the updated draft budget are correct and reliable for them to use in decision
making.
GROUP ASSIGNMENT
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Hint for your Group Work: Have a Transition Meeting
Here are some points for your group to discuss about transitioning from the Excel model to the
Word and PowerPoint files. Effective transitioning requires a reiterative process: going back and
forwards a few times to develop the supplementary analysis tables and graphs that best draw out from
the Excel model information for communicating concisely and comprehensively in the Word and
PowerPoint files. Your group should have a ‘transition meeting’ and also emails and talks for
collaboratively discussing between you these points:
1. From analysing the Excel model and the conversation between the CEO and CFO, what
is the most important information to be drawn out into supplementary tables and graphs?
2. For the supplementary analysis, what information is most effectively presented in a table
and/or a graph? Looking through the Excel model, what are the big changes between draft
1 and draft 2? What are the surprises? What are the main profitability uncertainties with
the cost leadership strategy?
3. Do we need to get detailed 2023 draft figures for our analysis?
4. What is the plan for the structure of the Word report - what tables will go where, what
graphs will go where, what is the headings structure, what paragraphs will be there and
where and what is the main theme or idea of each of those paragraphs?
5. What is the plan for the structure of the PowerPoint presentation - what tables will go
where, what graphs will go where, what is the headings structure, what slides will be there
and where and what will be the headline statements on each of those slides?
6. Who is going to refine and review each of the files and when. How much time do we need
to allow for this important process before final submission? (Several days of collaborative
dynamic review and refinement is ideal).
GROUP ASSIGNMENT
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Group Assignment: Marking Rubric (total out of 30)
Excel Model
Marks
Far below expectations
0% - 20%
Below expectations
21% - 49%
Satisfactory
50% - 69%
Very Good
70% - 89%
Outstanding
90% - 100%
15.0
1.1 Correctness of Cashflow 0.5 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.2 Correctness of Income Statement 0.5 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.3 Correctness of Balance Sheet 0.5 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.4 Sensitivity Analysis: correctness
and Live Case works if changed
4.5 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.5 Correctness of Executive
Summary tables
1.0 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.6 Effectiveness of any
Supplementary Analysis tables (2
tables maximum)
4.0 Not applicable – you did
not add any.
What you added is
ineffective.
What you added is
satisfactory.
What you added is quite
effective
What you added is highly
effective.
1.7 Effectiveness of any extra graphs
(2 graphs maximum)
2.0 Not applicable – you did
not add any.
What you added is
ineffective.
What you added is
satisfactory.
What you added is quite
effective
What you added is highly
effective.
1.8 Formatting and presentation:
Consistency
1.0 Very inconsistent. Inconsistent. Some inconsistencies. Consistent. Very consistent.
1.9 Formatting and presentation:
Attention to detail
1.0 Very unrefined, does not
adhere to the tips provided.
Unrefined, barely
adheres to the tips
provided.
Inconsistently adheres to
the tips provided.
Quite refined, mostly
adheres to the tips
provided.
Very refined and formatting
adheres to the tips provided.
GROUP ASSIGNMENT
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Marking Rubric (continued)
Word Report
Marks Far below expectations
0% - 20%
Below expectations
21% - 49%
Satisfactory
50% - 69%
Very Good
70% - 89%
Outstanding
90% - 100%
8.0
2.1 Executive summary:
comprehensiveness and
conciseness
2.0 Missing or fails to
communicate the required
information.
Poorly communicates the
required information.
Satisfactorily communicates
the required information.
Communicates the required
information.
Clearly and concisely
communicates the required
information.
2.2 Quality of the
‘business style'
presentation
1.5 The wrong style; it lacks
clear and appropriate
headings and bullet points,
and the format makes it
very difficult to quickly
read.
Lacks the concise
communication required of a
business style - failing to use
headings, bullet points, and
effective formatting.
Only partially uses a business
report style; fuller use of
appropriate headings, bullet
points and formatting would
make it much easier to quickly
read.
Generally has a business
style format with
appropriate headings, bullet
points and an effective and
consistent formatting style.
A high quality business style,
with clear and appropriate
headings, bullet points and
consistent, tidy and simple
formatting.
2.3 Integrated inclusion of
Excel tables in the body of
the report
1.5 The tables and discussion
of them fail to
communicate the essential
numbers.
The tables and discussion of
them insufficiently
communicate the numbers.
The tables and discussion of
them are satisfactory.
The tables and discussion of
them communicate the
important numbers.
The tables and discussion of
them concisely and
comprehensively
communicate all the important
numbers.
2.4 Readability and quality
of writing: Grammar and
sentence construction.
1.5 Extremely badly written
and time-consuming to
read, due to grammatical
mistakes and to very weak
sentence construction.
Very badly written and time-
consuming to read due to
grammatical mistakes and
weak sentence construction.
Badly written and time-
consuming to read due to
numerous grammatical
mistakes and some poorly
constructed sentences.
Some minor instances of
spelling mistakes and
unclear sentences.
No spelling mistakes and
clearly written short
sentences.
2.5 Readability and quality
of writing: Paragraphs
start with a summary
sentence.
1.5 Very poorly constructed
paragraphs that do not
communicate a single
overarching idea or theme.
Paragraphs do not
communicate a single
overarching idea or theme.
Half of the paragraphs start
with a summary sentence and
contain a single overarching
idea or theme.
Most paragraphs start with a
summary sentence and
contain a single overarching
idea or theme.
All paragraphs start with a
summary sentence and the
paragraph contains a single
(but perhaps broad)
overarching idea or theme.
GROUP ASSIGNMENT
34
Marking Rubric (continued)
PowerPoint
Marks Far below expectations
0% - 20%
Below expectations
21% - 49%
Satisfactory
50% - 69%
Very Good
70% - 89%
Outstanding
90% - 100%
7.0
3.1 Clarity of explanation of
the main numbers
1.0 The slides fail to
communicate essential
information about the
draft budget.
The slides insufficiently
convey the draft budget
The slides present too little
or too much information and
the layout and
communication lack
conciseness.
The slides are generally
concise in communicating
the draft budget.
The slides very concisely and
comprehensively communicate
the draft budget.
3.2 Effectiveness of
explanation of the main points
of interest and concerns raised
by the CEO and CFO.
1.0 The slides seriously fail
to communicate the main
points of interest.
The slides barely
communicate the main
points of interest.
The slides satisfactorily
communicate the main
points of interest.
The slides communicate the
main points of interest well.
The slides concisely and
comprehensively communicate
the main points of interest.
3.3 Slides have clear headline
statements that summarise a
single idea or theme
communicated by the slide.
1.0 No slides have this
quality.
This quality is barely
present.
Half of the slides have this
quality.
Most slides have this
quality.
All slides have this quality.
3.4 Smoothness of in-class
presentation delivery
2.0 The presenter(s)
appeared to have
undertaken no
preparation.
The presenter(s) appeared
to have undertaken very
little preparation nor
thought through what they
would say.
The presenter(s) appeared to
have undertaken some
preparation but not fully
thought through what they
would say.
The presentation delivery
quality was a standard that
would be acceptable to the
CFO and CEO of a real-life
business.
The presentation delivery
quality was a standard that
would be impressive to the
CFO and CEO of a real-life
business.
3.5 Presenter(s)' level of
familiarity with important
details
2.0 The presenter(s) gave the
impression of only a
superficial understanding
of the draft budget
modelling.
The presenter(s) gave a
weak impression of their
understanding of
important details of the
draft budget modelling.
The presenter(s) did not give
a strong impression about
their knowledge of important
details of the draft budget
modelling.
The presenter(s) gave a
satisfactory impression
about their knowledge of
important details of the draft
budget modelling.
The presenter(s) gave a strong
impression about their
knowledge of important details
including beyond that
contained in the slides.
18
Group Assignment (30%)
CONTENTS
1. LEARNING OBJECTIVES ....................................................................................... 18
2. ADMINISTRATION - INSTRUCTIONS ................................................................... 18
3. PEER ASSESSMENT SCORING SYSTEM .............................................................. 20
4. GROUP ACTION PLAN ........................................................................................... 21
5. THE ASSIGNMENT TASK ....................................................................................... 22
1. LEARNING OBJECTIVES
1. Gain experience in preparing a ‘real-world’ master budget.
2. Develop skills in using Excel spreadsheet functionality to design and organize a
complex budget model that is presentable, easy to navigate, and configured to easily
perform sensitivity analysis and goal seek.
3. Develop skills in business style communication by preparing Word and PowerPoint
files for the budget.
4. Gain experience in working in a group to perform a ‘real-world’ activity.
2. ADMINISTRATION - INSTRUCTIONS
You MUST complete the learning activities for Topics 4-7 (all four budgeting topics)
before starting the assignment.
2.1 Key dates:
April 5th Seminar for Topic 7 includes an assignment overview.
April 5th Deadline to form groups.
May 2nd Formative feedback window opens.
May 9th @ 3pm Formative feedback window closes.
May 12th @ 3 pm Deadline to submit three files by email and to TurnItIn.
May 22nd – 26th Student Presentations in Tutorials
ACCT1102 Topic 7: Budgets - GROUP ASSIGNMENT
19
2.2 Files:
Your tutor will email your group a Stylistic Budget Draft 1.xlsx individualized
with distinct nuances (no cheating between groups will be tolerated).
From BlackBoard, download Essential Excel Functions for Management
Accounting.pdf. This is a must for all students.
2.3 Groups:
• See Announcements on BlackBoard for instructions on forming groups.
• Your final submission must include Peer Assessment Scores (see below).
2.4 Formative feedback window
• 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 all three files).
• The formative feedback uses the Marking Rubric (see end of this document) –
you will receive a score for each marking criteria and out of the total of 30.
• This formative feedback from your tutor is in addition to the automated
formative feedback panels in the Excel file (discussed later).
2.5 Submission process for May 19th:
Email submission:
• One group member emails the three submission files (Excel, Word and
PowerPoint) to your tutor in an email that MUST cc in all group members.
TurnItIn submission:
• One group member submits 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.
2.6 Peer assessment scores:
• You MUST complete the first worksheet in your Assignment Template.xlsx -
the Peer Assessment Scores (discussed next page in this document).
2.7 Discussion Board and where/how to ask questions:
• Please ask questions on the Discussion Board on BlackBoard.
GROUP ASSIGNMENT
20
3. PEER ASSESSMENT SCORING SYSTEM
The table below is in the first worksheet of the your Stylistic Budget Draft 1.xlsx (emailed to your group by your Tutor)
Group work is an important part of business education. The purpose of group work goes beyond the requirements of the group 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 that each team member will communicate with other team 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 tutor.
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. With this method, a student can receive an individual mark higher than the maximum possible (i.e., 100%) group mark.
GROUP ASSIGNMENT
21
4. 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 of the
assignment.
• 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 for what.
It is up to you how you structure your group action plant. At least include:
a. A list of the tasks and subtasks required to complete the assignment
b. Designation of who is responsible for each task and subtasks
c. Expected completion date for each task and subtask
d. Communication commitments: how and when communication will take place, what is the
maximum allowable reply/response time to emails/texts.
e. Managing under-performance: what will you do if someone feels that others are not doing
their job? Consider agreeing to the following processes:
• The concerned group member(s) will approach the relevant under-performing
member one-on-one, offline and discuss their concerns in a calm, respectful manner.
• The concerned group member(s) will seek to understand the reasons why the under-
performing group member is not fully participating.
• If the one-on-one meeting does not resolve the issue, the concerned group member(s)
can request that the issue be included on the agenda for discussion at the next group
meeting.
• 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(s) will
receive a negative peer evaluation from other group members.
Do not submit your group action plan – it is for your group only.
GROUP ASSIGNMENT
22
5. THE ASSIGNMENT TASK
Redrafting the Stylistic Furniture Budget
You are a group of trainee management accountants working for the CFO at Stylistic Furniture.
Your assignment task has three requirements:
1) Redraft the budget Excel model using information provided.
2) Concisely communicate the redrafted budget in a business style Word report.
3) Concisely communicate the redrafted budget in a PowerPoint presentation.
Context
Stylistic is trying to finalize a 2024 budget that aligns with its strategic plan profit aspiration. Draft
1 of the budget was rejected by the board of directors. The following is a recent conversation between
the CEO and CFO about needing to do draft 2 of the budget.
Sally (CEO): “I have news. The board of directors has just agreed we can change the business
strategy from two product to single product in 2024. They want us to go ahead and propose
to them a draft 2 of the 2024 budget on that basis.”
John (CFO): “Hopefully this transformative change to our business strategy will give us a workable
basis for achieving the strategic plan profit aspirations in 2024.”
Sally: “You and I must present budget draft 2 at the next board of directors meeting and hopefully
get their approval for it. As usual, I want to email the board of directors a Word report for pre-
reading before the meeting. And then of course we need a PowerPoint presentation for you
and I to present at the board meeting. You really must make these documents as concise and
comprehensive as possible. And, of course, it goes without saying, that 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. With this strategic change we are already facing
some doubts from some directors about our managerial competencies.”
John: “In the report and presentation we need to make clear several points. The two product strategy
differentiator was losing competitive fitness because all of our main competitors were
pursuing a similar strategy. That opens up the opportunity for us to make a rapid change to a
single product cost leadership strategy. The report and presentation need to communicate how
we are proposing to implement the strategic change explicitly in dollar terms. At the end of
2023 we will cease selling both Casual and Deluxe tables. On day one of 2024 we will start
only selling Casual tables, we will drop the selling price, and change some fixed marketing
expenses for advertising. We have more than enough spare manufacturing capacity that we
can use to increase our manufacturing and sales volumes. Currently we have high fixed costs
that we are not spreading over enough sales volume, and this is what is really holding us back
from hitting our strategic plan profit aspirations. This will hopefully help us achieve the cost
leadership capability to rapidly grow sales volumes and unexpectedly and aggressively take
market share.”
Sally: “With our change to a single product cost leadership strategy we do not need to design new
products – so cut those costs out of the budget. Our current products are currently quite
innovative. Over time they will become less innovative relative to the new product designs
GROUP ASSIGNMENT
23
our competitors will likely introduce but that is consistent with us taking a single product-
based cost leadership strategy.”
John: “Profitability will depend on absorbing the higher fixed costs across more sales volume. We
need to concisely and comprehensively communicate what fixed costs are being added to
implement the cost leadership strategy, and we need to clarify which are committed costs, like
capital expenditure, and which are discretionary, like advertising, that we can avoid in future
if things don’t go to plan.”
Sally: “We need to know how the updated draft budget compares to this year’s full year forecast, and
to the budget draft 1, and to the strategic plan. We need to present four cases. First, the base
case is for Casual tables only, to align with the 2024 strat plan profit. Second, for Deluxe
tables only, to align with the 2024 strat plan profit. Third, for Casual tables only, to breakeven.
Second, for Deluxe tables only, to breakeven.”
John: “No worries, boss. Hopefully my management accountants will manage their time effectively
and have the ability to do some supplementary analysis and some graphs to help inform us
about some of these profitability uncertainties. We need to analyse the volume and cost
changes in detail between draft 1 and draft 2. It is good to know that we have ample
manufacturing and distribution capacity for the new strategy.”
Sally: “Are you sure management accountants are up to this task?”
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 for draft 2, so we can start working on it straight away.”
GROUP ASSIGNMENT
24
Requirement 1: Redraft the Budget Excel Model
Your group’s individualised Excel file (emailed to you by your tutor) will have the same numbers
as the Stylistic Master Budget.xlsx from the Textbook and Lecture 7. This is draft 1 of the budget
and it is the basis for you to develop draft 2. It will have four more inserted worksheets:
Worksheet #1: Strategic Change Information
Contains data for draft 2.
Worksheet #2: Sensitivity Analysis Table
For designing the Excel model to be ‘driven’ by the Live Case. Use goal seek for all cases.
To populate, copy and paste-values from the Live Case. (See the recording of Lecture 7 for
how to do this – BEFORE you start your Excel modelling).
When you submit your Excel file set the Live Case in worksheet #2 to the Base Case – then
all the other tables in the workbook (e.g., Executive Summary) will also have the Base Case
(the Base Case is Casual tables with a volume that aligns the draft 2 budget profit to the
2024 Strategic Plan profit).
Worksheet #3: Executive Summary Tables
Contains two tables that you need to dynamically link to feed off the Live Case modelling.
Worksheet #4: Supplementary Analysis (for Tables and Graphs)
Design no-more-than two Supplementary Analysis Tables, and no-more-than two
Graphs/Charts (quality not quantity). Some suggestions for Tables and Graphs are provided
in Worksheet #4. See Marking Rubric criteria 1.6 and 1.7. Add extra worksheets if needed.
Suggested sequence of steps:
Step 1: Use the data in worksheets #1 and #2 to convert the model to draft 2 – link it into
relevant tables by adding cells/rows/columns and updating existing formulas. Preserve the
structure and formatting of the Excel model - the CFO will be confused and angry if you
change or rearrange it. Use the automated formative feedback panels (discussed later).
Step 2: Complete the goal seek process for the Base Case in Worksheet #2. Use the formative
feedback panels (discussed later).
Step 3: Link your Executive Summary tables in worksheet #3 into the model. Use the
formative feedback panels (discussed later). When you submit, set the Live Case to be the
Base Case (so your model is reporting the base case for draft 2).
Step 4: Design and add Supplementary Analysis tables and graphs.
Note: When you transition to developing your Word and PowerPoint files you may find you
need to redevelop and refine your Supplementary Analysis tables and graphs.
GROUP ASSIGNMENT
25
Automated Formative Feedback Panels - in the Excel file.
There are automated formative feedback panels in five worksheets:
• Cashflow
• Net Income Statement
• Balance Sheet
• Sensitivity Analysis
• Executive Summary
The panels have cells shaded red with white font. Aim to get all these to have zero error
variances - then you will have calculated the draft 2 budget correctly!!! Do not delete any of the
panels - your Tutor needs them for marking.
Tips on producing a business style Excel model.
Your Excel model should be detailed but well organized. It takes time and refinement to format financial
tables to a high standard. Apply the following guidelines:
• Use consistent formats within and across tables.
• Do not use colour shading: stick to ‘plain and simple black and white.’
• Use $ very sparingly.
• 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).
• A general rule is that the minimum font size of tables in the Word report should be size 10.
• Limit the use of decimal points (every number in a table takes time and attention to read and it is
very easy for a reader to quickly get information overload and lose sight of what is essential high-
level information versus what is just low-level detail). Do not use 'rounding' functions in Excel.
Excel defaults to calculating based on ~15 decimal points. When you format the cells in Excel,
minimize the presentation of decimal figures as much as possible (e.g., a value of
'2.12345678912345000000000' might be used for calculating but format the decimal points to
show that value as '2.1'). Use the formatting protocols that come with the Financial Model
Template File and use the Format Painter function.
• Cut out duplication in your model (to avoid it being unnecessarily complicated and large).
• Be consistent with using $000's.
• Tidy up the formatting when you have 'fresh eyes'.
GROUP ASSIGNMENT
26
Requirements 2 and 3: Communication of the Redrafted Budget
The CFO will be the immediate audience for your updated draft budget. They will need to be
comfortable that the calculations are correct and concisely communicated. When they are comfortable
they will pass it onto the CEO. Assume that the CEO will only look at the Word and PowerPoint files
(only the CFO will look at the Excel model).
The aim is to clearly communicate the redrafted budget in terms that address the points of interest
and concerns raised by the CEO and CFO in the Context section at the beginning of this document.
The sensitivity analysis and any further analysis should inform this communication.
Requirement 2: Written Report
The report must be based on tables and information you extract from your Excel model.
Use a formatting style similar to this document – aim for 4 to 7 pages in length (this length does
not include Appendices).2 Your report should be concise and comprehensive:
• Choose words deliberately and precisely.
• Refer to and discuss key numbers from tables extracted from Excel.
• Construct paragraphs and sentences carefully to eliminate unnecessary words.
• Use grammar properly.
• Get straight to the points in ways the audience can easily comprehend.
• Use white space strategically to help readers understand how the parts make up the whole.
Use the following report structure:
Cover page (page 0): title plus student names/numbers
Executive summary (page 1): including copies of the two executive summary tables from
the Excel model.
• Start with a purpose that clearly summarizes the ‘what, how, why and when’ for the report:
the first sentence should start with “The purpose of this report is...”.
• Use positive language.
• Include and refer to the executive summary table. For example, text you might include is,
“With the increase in volumes, revenue has increased by M$a.aa (yy.y%) and profit has
increased M$b.bb (xx.x%) ….”
• The executive summary including tables should be no more than one page.
• When writing the report it is recommended you do the Executive Summary last – because
then you can summarise what is already in the report.
2 Aim for a report length that is concise and comprehensive. Read the marking rubric to see what is required. There is a
lot of flexibility in how a business style report format might be produced. You might use few or many tables. You might
use few or many bullet points. You could use varying degrees of white space. You might let the tables do a lot of the
communication, or you might have minimal tables and write lots of text. Some of the best reports are short and have
effective tables with very clear and concise writing. Some of the worst reports are also very short, but have poorly designed
tables and text that misses the main points. At the same time, some of the best reports are very long but well designed,
while some of the worst reports are also very long but poorly designed.
GROUP ASSIGNMENT
27
1.0 Introduction (page 2):
Provide a brief quantified overview of what has changed from the draft #1 budget.
2.0 Draft financial statements
Include the tables from Excel and discuss and refer to them, e.g., “Table 2 presents the
redrafted income statement, showing an expected $3.1m in full-year profit…”
3.0 Sensitivity analysis
Include the table from worksheet #2 and discuss and refer to it, e.g., “Table 6 presents
sensitivity analysis. For sensitivity case #1 the profit is $1.1m (25.2%) more than the base
case…”
4.0 Further analysis and considerations
If you designed and added new tables insert them here and refer to and discuss them.
5.0 Summary
Start by concisely restating the purpose of the report.
Restate the key numbers.
Do not include any new financial information or tables.
Appendix (only for significantly detailed tables if required).
Consider including significantly detailed tables only in the appendix - alternatively, leave
them only in the financial model file.
GROUP ASSIGNMENT
28
Tips on producing a business style Word report
This document is in a business style format, with clear headings, tables, bullet points, carefully
constructed paragraphs, and simple short sentences. Avoid long paragraphs that are 'hard-to-quickly-read.'
Presentation quality
If your Word report lacks attention to detail, you could give the impression that your financial
modeling and analysis also lack attention to detail. You need your audience to be confident that the
calculations are correct.
Arrangement
The content development and organization of ideas must clearly reveal the purpose and
implications of the analysis. You should:
• Use tables in the body, and place detailed tables in an appendix (but consider if those detailed
tables do indeed provide information useful for the decision-makers).
• The flow should be logical and organized.
• Keep similar information together.
• Keep each section or paragraph about one main idea. Each paragraph should start with a key
sentence that summarizes the idea of that paragraph.
• Use graphics (charts, graphs, diagrams, and tables) where appropriate.
• Eliminate unnecessary and/or obvious information given your audience.
Style
So that your writing is confident and clear, bear in mind the following:
• Turn nouns into verbs (e.g., instead of “We would like to make a recommendation that…” write
“We recommend that…”).
• Use simple terms (e.g. rather than "utilize" write "use").
• Use an active instead of passive voice (e.g., instead of “The report was submitted by the team
to the CEO” write “The team submitted the reports to the CEO”).
• Use simple sentences (e.g., instead of “Obviously, this means we will need to raise prices, which
could reduce sales,” write “Our need to raise prices could reduce sales”).
• Do not refer to sources (i.e., references) for this draft budget assignment.
Formatting
• Headings can skilfully underscore the main points, form white space, and make it easy for
readers to scan the document.
• Bullet points work well for series of items. They can convert large amounts of information into
small parts, making the reading experience smooth and the file easier to navigate.
• Italics and bold face emphasize specific points.
• Tidy up the formatting when you have 'fresh eyes'.
Tables
Tables are essential when presenting financial information. Apply the following:
• Tables must have a clear heading that concisely frames the information in the table for the
reader.
• Some tables can be high-level (e.g., in the Executive Summary) while others can be more
complex and detailed.
• Text must refer to important information in tables text (e.g., ‘as per Table 2, the profit is $1.0m’).
Maps, flowcharts, and diagrams
Only use these if needed for complex data or concepts, to show connections that text alone cannot
explicate clearly.
GROUP ASSIGNMENT
29
Requirement 3a: PowerPoint file
PowerPoint is the conventional presentation tool in practice (managers tend to stick very
conservatively to conventions). The PowerPoint file you design must be based on tables from your
Excel file - it should be a condensed version of the information from your Word report but prepared
in a style and format that is effective for PowerPoint.
Your PowerPoint file should have 5 to 7 slides (including a Title slide). The analysis and
information should flow smoothly and give a parsimonious summary of the updated draft budget.
Consider using these structural elements:
• Title slide
• Executive summary slides: with purpose and background.
• Body slides: explanations and illustrations of major parts and analysis.
• Conclusion slide: summarize main numbers and points.
Importantly:
• Include Excel table extracts and information (including executive summary tables),
headline statements and all the critical information about the nature of the strategic and
financial performance impacts. Do not include detailed tables.
• Communicate high level financial information in tables with normal font sizes - do not
use small font sizes. Do not provide insignificant details in tables.
• Use clear headline statements on slides, e.g., ‘The sales volume of 53,500 is expected to
enable $15.1m of revenue and $2.1m of profit.’
• Outline and discuss strategic issues.
Tips for producing a business style presentation file.
Presentation quality
If your PowerPoint presentation is unclear, then you will give the impression your Excel modelling
and analysis lack competence – the audience must be confident that the calculations are correct.
Arrangement
• The headline of a slide should have one message.
• A typical slide should have a single table or image.
• Use textboxes where appropriate to point the reader to key information in tables.
• Keep the structure and style simple and professional – go for a conservative rather than a
colourful style.
• Use the largest font only for the most important information on the slide.
• Tidy up the formatting when you have 'fresh eyes'.
GROUP ASSIGNMENT
30
Requirement 3b: In-class Presentation
Present your PowerPoint file from requirement 3a in your tutorial class in the last week. Imagine
it is to the CFO and CEO.
Rules:
1. The strict maximum time per group presentation is 4 minutes.
2. Each group decides how many of its students will be ‘presenters’ of their PowerPoint.
3. If a ‘presenter’ is enrolled as an INTERNAL they must present face-to-face (that is, they
must attend the Tutorial classroom for the presentation).
4. If a ‘presenter’ is enrolled as an EXTERNAL they must present over Zoom.
5. A group presentation can combine face-to-face and Zoom ‘presenters’. But be careful about
who will click through the slides during the presentation.
6. All students are expected to attend the presentation tutorial even if they are not a ‘presenter’.
Students who are not a ‘presenter’ can attend face-to-face or on Zoom (regardless of their
being INTERNAL or EXTERNAL).
7. Only the PowerPoint file that the group submitted by email to their Tutor can be presented.
8. For each group, the PowerPoint file must be brought to the tutorial on a USB stick or else
shared by a 'presenter' on Zoom.
9. 'Presenters' who present over Zoom must show their face over video camera.
10. The presentation will marked only on the Marking Rubric criteria: 3.4 Smoothness of in-
class presentation delivery (2.0 marks); 3.5 Presenter(s)' level of familiarity with important
details (2.0 marks)
11. The Google spreadsheet has the order of group presentations in each tutorial.
Tips for your in-class presentation
Bear in mind these important criteria when presenting in-class:
• Focus on the audience: make eye contact with audience members - do not read or focus on the
computer screen. Do not use speaker notes.
• Use clear and understandable speaking: use a reasonable pace, not too slow or fast; use inflection
in your voice.
• Overall, if your presentation is unclear, you will give the impression your financial modelling and
analysis lack competence – the audience must have confidence in you in order to have confidence
your calculations in the updated draft budget are correct and reliable for them to use in decision
making.
GROUP ASSIGNMENT
31
Hint for your Group Work: Have a Transition Meeting
Here are some points for your group to discuss about transitioning from the Excel model to the
Word and PowerPoint files. Effective transitioning requires a reiterative process: going back and
forwards a few times to develop the supplementary analysis tables and graphs that best draw out from
the Excel model information for communicating concisely and comprehensively in the Word and
PowerPoint files. Your group should have a ‘transition meeting’ and also emails and talks for
collaboratively discussing between you these points:
1. From analysing the Excel model and the conversation between the CEO and CFO, what
is the most important information to be drawn out into supplementary tables and graphs?
2. For the supplementary analysis, what information is most effectively presented in a table
and/or a graph? Looking through the Excel model, what are the big changes between draft
1 and draft 2? What are the surprises? What are the main profitability uncertainties with
the cost leadership strategy?
3. Do we need to get detailed 2023 draft figures for our analysis?
4. What is the plan for the structure of the Word report - what tables will go where, what
graphs will go where, what is the headings structure, what paragraphs will be there and
where and what is the main theme or idea of each of those paragraphs?
5. What is the plan for the structure of the PowerPoint presentation - what tables will go
where, what graphs will go where, what is the headings structure, what slides will be there
and where and what will be the headline statements on each of those slides?
6. Who is going to refine and review each of the files and when. How much time do we need
to allow for this important process before final submission? (Several days of collaborative
dynamic review and refinement is ideal).
GROUP ASSIGNMENT
32
Group Assignment: Marking Rubric (total out of 30)
Excel Model
Marks
Far below expectations
0% - 20%
Below expectations
21% - 49%
Satisfactory
50% - 69%
Very Good
70% - 89%
Outstanding
90% - 100%
15.0
1.1 Correctness of Cashflow 0.5 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.2 Correctness of Income Statement 0.5 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.3 Correctness of Balance Sheet 0.5 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.4 Sensitivity Analysis: correctness
and Live Case works if changed
4.5 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.5 Correctness of Executive
Summary tables
1.0 Far too many mistakes. Serious mistakes. Materially correct. Mostly correct. Correct.
1.6 Effectiveness of any
Supplementary Analysis tables (2
tables maximum)
4.0 Not applicable – you did
not add any.
What you added is
ineffective.
What you added is
satisfactory.
What you added is quite
effective
What you added is highly
effective.
1.7 Effectiveness of any extra graphs
(2 graphs maximum)
2.0 Not applicable – you did
not add any.
What you added is
ineffective.
What you added is
satisfactory.
What you added is quite
effective
What you added is highly
effective.
1.8 Formatting and presentation:
Consistency
1.0 Very inconsistent. Inconsistent. Some inconsistencies. Consistent. Very consistent.
1.9 Formatting and presentation:
Attention to detail
1.0 Very unrefined, does not
adhere to the tips provided.
Unrefined, barely
adheres to the tips
provided.
Inconsistently adheres to
the tips provided.
Quite refined, mostly
adheres to the tips
provided.
Very refined and formatting
adheres to the tips provided.
GROUP ASSIGNMENT
33
Marking Rubric (continued)
Word Report
Marks Far below expectations
0% - 20%
Below expectations
21% - 49%
Satisfactory
50% - 69%
Very Good
70% - 89%
Outstanding
90% - 100%
8.0
2.1 Executive summary:
comprehensiveness and
conciseness
2.0 Missing or fails to
communicate the required
information.
Poorly communicates the
required information.
Satisfactorily communicates
the required information.
Communicates the required
information.
Clearly and concisely
communicates the required
information.
2.2 Quality of the
‘business style'
presentation
1.5 The wrong style; it lacks
clear and appropriate
headings and bullet points,
and the format makes it
very difficult to quickly
read.
Lacks the concise
communication required of a
business style - failing to use
headings, bullet points, and
effective formatting.
Only partially uses a business
report style; fuller use of
appropriate headings, bullet
points and formatting would
make it much easier to quickly
read.
Generally has a business
style format with
appropriate headings, bullet
points and an effective and
consistent formatting style.
A high quality business style,
with clear and appropriate
headings, bullet points and
consistent, tidy and simple
formatting.
2.3 Integrated inclusion of
Excel tables in the body of
the report
1.5 The tables and discussion
of them fail to
communicate the essential
numbers.
The tables and discussion of
them insufficiently
communicate the numbers.
The tables and discussion of
them are satisfactory.
The tables and discussion of
them communicate the
important numbers.
The tables and discussion of
them concisely and
comprehensively
communicate all the important
numbers.
2.4 Readability and quality
of writing: Grammar and
sentence construction.
1.5 Extremely badly written
and time-consuming to
read, due to grammatical
mistakes and to very weak
sentence construction.
Very badly written and time-
consuming to read due to
grammatical mistakes and
weak sentence construction.
Badly written and time-
consuming to read due to
numerous grammatical
mistakes and some poorly
constructed sentences.
Some minor instances of
spelling mistakes and
unclear sentences.
No spelling mistakes and
clearly written short
sentences.
2.5 Readability and quality
of writing: Paragraphs
start with a summary
sentence.
1.5 Very poorly constructed
paragraphs that do not
communicate a single
overarching idea or theme.
Paragraphs do not
communicate a single
overarching idea or theme.
Half of the paragraphs start
with a summary sentence and
contain a single overarching
idea or theme.
Most paragraphs start with a
summary sentence and
contain a single overarching
idea or theme.
All paragraphs start with a
summary sentence and the
paragraph contains a single
(but perhaps broad)
overarching idea or theme.
GROUP ASSIGNMENT
34
Marking Rubric (continued)
PowerPoint
Marks Far below expectations
0% - 20%
Below expectations
21% - 49%
Satisfactory
50% - 69%
Very Good
70% - 89%
Outstanding
90% - 100%
7.0
3.1 Clarity of explanation of
the main numbers
1.0 The slides fail to
communicate essential
information about the
draft budget.
The slides insufficiently
convey the draft budget
The slides present too little
or too much information and
the layout and
communication lack
conciseness.
The slides are generally
concise in communicating
the draft budget.
The slides very concisely and
comprehensively communicate
the draft budget.
3.2 Effectiveness of
explanation of the main points
of interest and concerns raised
by the CEO and CFO.
1.0 The slides seriously fail
to communicate the main
points of interest.
The slides barely
communicate the main
points of interest.
The slides satisfactorily
communicate the main
points of interest.
The slides communicate the
main points of interest well.
The slides concisely and
comprehensively communicate
the main points of interest.
3.3 Slides have clear headline
statements that summarise a
single idea or theme
communicated by the slide.
1.0 No slides have this
quality.
This quality is barely
present.
Half of the slides have this
quality.
Most slides have this
quality.
All slides have this quality.
3.4 Smoothness of in-class
presentation delivery
2.0 The presenter(s)
appeared to have
undertaken no
preparation.
The presenter(s) appeared
to have undertaken very
little preparation nor
thought through what they
would say.
The presenter(s) appeared to
have undertaken some
preparation but not fully
thought through what they
would say.
The presentation delivery
quality was a standard that
would be acceptable to the
CFO and CEO of a real-life
business.
The presentation delivery
quality was a standard that
would be impressive to the
CFO and CEO of a real-life
business.
3.5 Presenter(s)' level of
familiarity with important
details
2.0 The presenter(s) gave the
impression of only a
superficial understanding
of the draft budget
modelling.
The presenter(s) gave a
weak impression of their
understanding of
important details of the
draft budget modelling.
The presenter(s) did not give
a strong impression about
their knowledge of important
details of the draft budget
modelling.
The presenter(s) gave a
satisfactory impression
about their knowledge of
important details of the draft
budget modelling.
The presenter(s) gave a strong
impression about their
knowledge of important details
including beyond that
contained in the slides.
