ACCT 5000 Intermediate Management Accounting Portfolio Case Study
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
ACCT 5000 Intermediate Management Accounting Portfolio Case Study
ACCT 5000 Intermediate Management Accounting Semester 2 2017
ACCT 5000 Intermediate Management Accounting Portfolio Case Study
Background: Phoenix Enterprises Group
Phoenix Enterprises Group (PEG) was founded in Perth in 1999. The company started as a result of a diversification of investments from its parent company in Singapore. PEG’s initial investment portfolio consisted of entertainment venues such as clubs and restaurants. Francis Sik, the marketing department manager of PEG’s parent company in Singapore was sent to Perth to manage and grow business operations of PEG. Although Francis had extensive experience in marketing and business expansion, he had no prior experience in accounting and cost control. PEG thus engaged the services of an accounts officer, Jessica Boulter, to assist with keeping “accounting records”. Jessica’s job scope consisted of basic data entry such as recording of revenues and expenses (e.g. supplier invoices and other company expenditures) onto a basic spreadsheet. No internal management reports were generated and these figures were provided to an external accountant who then prepared financial reports to ensure compliance with regulatory reporting standards.
Pricing of products and other investment decisions were largely based on Francis’ intuition and understanding of the market. Due to favourable economic conditions brought about by the mining boom, the company experienced significant business growth. Its revenues tripled from an initial $2 million a year to $6 million and money was readily available. Francis was viewed favourably by the management in Singapore due to his performance and was thus given much autonomy in managing PEG. As such, Francis invested excess cash into several other unrelated businesses. By the end of 2013, the company had business interests in shopping centres, agricultural farms, markets, restaurants, cafes, clubs and a real estate agency.
However, the state of the economy rapidly deteriorated in 2014 due to a significant slowdown in the resources sector. This had a considerable impact on revenues of PEG and the company started experiencing financial difficulties, such as the inability to meet supplier payments on time. In 2015, due to financial constraints, PEG wanted to consolidate and determine the financial viability of its various businesses. However, Francis was unsure of how this can be done as he did not have sufficient information to assess the performance of each business.
Francis thus decided to employ Bonnie Williamson, a chartered accountant to assist with sprucing up the accounting records and overall management process. Specifically, Bonnie was tasked to determine management accounting information required to assist Francis in assessing the viability of the various business interests of PEG.
Required:
Assume you are Bonnie Williamson, and that you had identified several issues that need to be raised with the management of PEG.
You are required to submit the reports to management of PEG to address the various issues identified. In your submission, you will be expected to use examples that are specific to this business to present and argue your points. You should not just provide a textbook summary of the theory and principles.
Please read the Guidelines available on Blackboard prior to writing up your reports. There are strict requirements as regards formatting and layout).
For Report Two (Issues 3) (10 marks):
Issue 3:
Previously the Francis did not use budgets because he did not feel the need for budgets. As the business had grown, and the operations have become more diverse, the lack of knowledge about future results were beginning to worry him.
Include in your submission a comprehensive argument for budgeting, clearly explaining the benefits of budgeting, and how it can be used to better manage and growth a business in an environment which is getting more competitive and uncertain.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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