Performance Management Essay Assignment Help
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
Description
Task:
Element 011 – Coursework 2000 words equivalent
You have been appointed as the new Management Accountant to Chez-moi hotel chain.
Chez-moi is an established hotel chain with 20 hotels in the UK alone. It is targeting customers in the lower high-price range, differentiating themselves as boutiques hotels in convenient tourist locations. They have gained their excellent reputation based on the quality of their services and homely feeling that characterises each of their hotels.
Each hotel has its own décor and ability to tailor their menus and customer offerings depending on location and space available. However, due to increased competition and lower levels of demand due to the Covid-19 pandemic, there is a constant need for Chez-moi to monitor their costs.
Each hotel also prepares its own budget which is then consolidated at the group level. At the end of each quarter, the manager receives a statement comparing actual quarterly performance against budget. Chez-moi currently uses a rolling-budget with the figures for the next quarter being based on the numbers achieved in the previous quarter.
The statement for the most recent completed quarter is as follows:
*SEE ATTATCHED DOCUMENT*Notes:
(i)Rent, rates and other overheads are apportioned by the head office based on annual fixed costs
(ii)All other costs are treated as variable costs
Required:
Question 1.
Produce a management report to the Board of Directors outlining the following:
1. Chez-moi is currently using cost (full cost)-plus to determine the price of the rooms. Please discuss the advantages and disadvantages of cost-plus and its suitability for Chez-moi. If cost-plus is not the best pricing strategy, please justify why and suggest a better pricing model.
Short-term decision making. (20 marks)
2. Due to the Covid-19 pandemic, Chez-moi has been approached by a local Council asking if they would be willing to rent spare rooms to accommodate rough sleepers. The Council is willing to pay £40/per room/per night for 100 nights.
Question 2.
a) Prepare a statement showing the impact that accepting the offer would have for the company (apply to budget data); (5 marks)
b) Discuss which qualitative factors (minimum 4 factors) Chez-moi should consider when deciding whether to accept the offer from the Council. (7 marks)
c) What is the minimum price that Chez-moi could accept without reducing its operating profit. (3 marks)
d) Please advise Chez-moi on whether they should accept the offer from the Council or not based on the results above. (5 marks)
Total 2 Question 2 – 20 marks
3. Discuss the advantages and disadvantages of Activity Based Costing (ABC) and critically evaluate whether it would be suitable for Chez-moi. Make reference to the current overhead absorption system, its suitability, advantages and limitations. (20 marks)
4. Budgeting
a) Prepare a flexed budget for the last reporting period; (5marks)
b) Discuss whether rolling budgets are most appropriate for the hotel chain; (7marks)
c) Discuss the participative approach to budgeting and its advantages and disadvantages to the hotel chain; (7 marks)
d) Define beyond budgeting and discuss its suitability to Chez-moi. (6 marks)
Total Question 4 25 marks
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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