ACC202-Management Accounting Problem Case Study – Accounting & Finance Assignment Help

Assignment Task

Task 

Management Accounting T122

Overview of the Subject
This subject provides a review and an analysis of management accounting concepts, terms and both traditional and contemporary control systems. Students will gain an understanding of costing strategies used in an array of settings, including pricing decisions and profitability analyses. Students will also become familiar with more contemporary performance evaluation systems including the balanced scorecard and benchmarking. Matters relating to sustainability, quality costing and ethics will also be examined.

Subject Learning Outcomes
a) Apply management accounting concepts and information technology techniques that underpin cost management strategies in organisational contexts
b) Evaluate financial performance measurement processes, pricing and product mix decisions
c) Evaluate contemporary approaches to measuring and rewarding performance using financial and non-financial indicators and systems such as the balanced scorecard and benchmarking
d) Critically evaluate ethical issues in a management accounting context.

Teaching Methods/Strategies
Briefly described below are the teaching methods/strategies used in this subject:

• Lectures (2 hours/week) are conducted in seminar style and address the subject content, provide motivation and context and draw on the students’ experience and preparatory reading.
• Tutorials (2 hours/week) include class discussion of case studies and research papers, practice sets and problem-solving and syndicate work on group projects. Tutorials often include group exercises and so contribute to the development of teamwork skills and cultural understanding. Tutorial participation is an essential component of the subject and contributes to the development of many of the graduate attributes (see section 2.2 above). Tutorial participation contributes towards the assessment in many subjects (see details in Section 3.1 for this subject). Supplementary tutorial material such as case studies, recommended readings, review questions etc. will be made available each week in Moodle.
• Online teaching resources include class materials, readings, model answers to assignments and exercises and discussion boards. All online materials for this subject as provided by KOI will be found in the Moodle page for this subject. Students should access Moodle regularly as material may be updated at any time during the trimester.

Assessment Details

Details of Each Assessment Item
The assessments for this subject are described below. The description includes the type of assessment, its purpose, weighting, due date and submission requirements, the topic of the assessment, details of the task and detailed marking criteria, including a marking rubric for essays, reports and presentations. Supplementary assessment information and assistance can be found in Moodle.
KOI expects students to submit their own original work in both assignments and exams, or the original work of their group in the case of group assignments. Material in assignments which comes from the work of others must be appropriately acknowledged.

Assessment 1

Assessment Type: Online quizzes (2) – individual assessment

Purpose: This assessment is designed to reinforce subject content taught each week allowing students to analyse and apply accounting principles and concepts to solve theory and practical accounting questions. This contributes to learning outcomes a, b and c.

Assessment 2

Assessment Type: Mid-trimester test – individual assessment – invigilated open book. Students should have their own non-programmable calculator and pens.

Purpose: This assessment is designed to reinforce subject content taught in weeks 1 to 5, giving students the opportunity to apply accounting techniques to analyse accounting information and use costing techniques to solve problems. This assessment relates to learning outcomes a, b and d.

Assessment 3

Assessment Type: Group Case Study report and analysis.

Purpose: This assessment is designed to assist students to combine the technical skills learned with the theoretical aspects of a number of management accounting concepts. The assessment will allow students to demonstrate their ability to analyse the information provided for a given scenario and present their findings as they relate to the requirements of this assessment.

Topic: Management accounting problem (case study).
Task details: Easy Accommodations Ltd. owns a chain of backpacker lodges located throughout Australia. The company’s profits have declined over the past year. In an attempt to isolate the causes of poor profit performance, the company has recently introduced a costing system to estimate the cost of its major services at each lodge. The company intends to use this information to review the service pricing structure and assess the profitability of its various service lines at each lodge. Blue Mountain Lodge is one of the busiest lodges in the Easy Accommodation chain. One of its main products is the provision of accommodation, which involves three main processes: reception, room maintenance and the collection of payments for accommodation. The lodge charges backpackers $40 per day for single bedrooms (double rooms are not available).

Another major product is the provision of evening meals, which involves a variety of ingredients and two major processes: kitchen service (cooking and clean-up) and table service. The price of the evening meals varies between $5 and $15, depending on the menu items selected.
A third product is the provision of a range of one-day and half-day tours. The lodge hires guides and provides equipment and transportation for a range of activities such as whitewater rafting, canyoning, canoeing and mountain trekking. Picnic lunches, purchased from the local bakery, are also provided for full-day tours. Tour prices vary considerably, depending on the activities included. In the past year, the Blue Mountain Lodge provided accommodation to 2 400 backpackers, who stayed an average of 5 nights each, purchased 8 000 evening meals, 300 one-day tours and 400 half-day tours. The following data related to the Blue Mountain Lodge for the past year.

REQUIRED:
1. Construct an Excel spreadsheet, using process costing, to estimate:
(a) The cost per person of the accommodation reception process.
(b) The cost per day of the room maintenance process. Occupied rooms are maintained (i.e. vacuumed and dusted) each day.
(c) The cost per accommodation payment processed.
(d) The total cost per person per day of accommodation, on average, assuming a five-day stay.

2. Use your spreadsheet to assess the profitability of the accommodation service, per person, per day and in total.

3. Assume that the same kitchen and restaurant processes are used for each customer. Use your spreadsheet and a hybrid costing approach to estimate the cost of the following evening meals

4. Given the information about the cost of the kitchen and restaurant processes, do you believe that the evening meal service is profitable? Explain you answer.

5. Describe the approach that you would take to estimate the cost of each tour.

6. Given the information about the cost of the tours, do you believe that the tour service is profitable? Explain your answer.

7. What recommendations would you make to the management of the Blue Mountains Lodge to improve the profitability of its business? Can a reward system be implemented to improve profitability? Explain in detail.

8. How might the management of Easy Accommodations Ltd use this information?

Research requirements: Students need to support their analysis with reference from the text and a minimum of six (6) suitable, reliable, current and academically acceptable sources – check with your tutor if unsure of the validity of your sources. Groups seeking higher grades should support their analysis with an increased number of reference sources comparable to the grade they are seeking.

Presentation: Report format. Title page, executive summary, table of contents, appropriate headings and sub-headings. Single spaced.

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