Accounting in Context & Budgetary Control
Added on 2023-07-14
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Higher Nationals
Assignment Brief – BTEC (RQF)
Higher National Diploma in Business (Business Management)
Student Name /ID Number BUI THI THU PHUONG (ELSIE)
Unit Number and Title Unit 5: Accounting Principles
Academic Year 2021/2022
Unit Assessor Nguyen Lan Phuong & Ha Phuoc Vu
Assignment Number and Title Accounting in Context and Budgetary Control (1 of 2)
Issue Date 25 November 2021
Submission Date 19 December 2021
IV Name
Date
Submission Format:
The submission is in the form of a portfolio of evidence compiled from the evidence
produced for two assignments that include the following.
A blog that should make use of headings, sub-sections, columns and appropriate business-
related images and illustrations. This format offers the opportunity to present academic and
theoretical information in a practical, contextualised and creatively written way. The
recommended word limit for the case study is 1,500–2,000 words, although you will not be
penalised for going under or exceeding the total word limit. All work must be supported with
research and referenced correctly using the Harvard referencing system (or alternative
referencing system). You will need to provide a bibliography using the Harvard referencing
system (or an alternative referencing system). Inaccurate use of referencing may lead to
issues of plagiarism if not applied correctly.
You will also submit a memorandum with an accompanying Excel spreadsheet (raw data
will be supplied by your tutor). You will insert sections of your spreadsheet into the
memorandum. The recommended word limit for the memorandum is 1,000–1,500 words,
although you will not be penalised for going under or exceeding the total word limit.
Referencing for both submissions should use the Harvard system (or an alternative
system).
Assignment Brief – BTEC (RQF)
Higher National Diploma in Business (Business Management)
Student Name /ID Number BUI THI THU PHUONG (ELSIE)
Unit Number and Title Unit 5: Accounting Principles
Academic Year 2021/2022
Unit Assessor Nguyen Lan Phuong & Ha Phuoc Vu
Assignment Number and Title Accounting in Context and Budgetary Control (1 of 2)
Issue Date 25 November 2021
Submission Date 19 December 2021
IV Name
Date
Submission Format:
The submission is in the form of a portfolio of evidence compiled from the evidence
produced for two assignments that include the following.
A blog that should make use of headings, sub-sections, columns and appropriate business-
related images and illustrations. This format offers the opportunity to present academic and
theoretical information in a practical, contextualised and creatively written way. The
recommended word limit for the case study is 1,500–2,000 words, although you will not be
penalised for going under or exceeding the total word limit. All work must be supported with
research and referenced correctly using the Harvard referencing system (or alternative
referencing system). You will need to provide a bibliography using the Harvard referencing
system (or an alternative referencing system). Inaccurate use of referencing may lead to
issues of plagiarism if not applied correctly.
You will also submit a memorandum with an accompanying Excel spreadsheet (raw data
will be supplied by your tutor). You will insert sections of your spreadsheet into the
memorandum. The recommended word limit for the memorandum is 1,000–1,500 words,
although you will not be penalised for going under or exceeding the total word limit.
Referencing for both submissions should use the Harvard system (or an alternative
system).
Unit Learning Outcomes:
LO1 Examine the context and purpose of accounting.
LO4 Prepare budgets for planning, control and decision making using spreadsheets.
Transferable skills and competencies developed
Reasoning and analytical skills
Written communication using a range of media
Manipulation and interpretation of data using spreadsheets
Effective communication of relevant information across the organisation and to
appropriate stakeholders
Creation and interpretation of information, showing how that information can
be used most effectively to add value to an organisation.
Vocational scenario
Organisation
Deloitte is a multinational professional service company that undertakes extensive business
consultancy work for their client base. They have a central London head office and regional
offices in the UK in Birmingham and Southampton. Last year, the group turnover was £200
m with 25 per cent deriving from non-UK markets, principally in Southeast Asia. They have
a small regional office in Vietnam. The firm also has a policy of taking on smaller niche
clients, where they feel there is potential for fast growth.
Role
You have recently joined the firm as a Graduate Trainee attached to their UK SME (Small
and Medium Enterprises) Unit, offering accountancy and financial services to businesses
that typically have a turnover ranging from £0.5 m to £15 m. As part of your ongoing
training, you have been asked to undertake some
activities.
Assignment activity and guidance
Your supervisor, one of the firm’s Key Account Managers, has asked you to prepare a blog
that will be used to market and promote its accounting services to new and existing clients.
The working title you have been given for the blog is ‘The role of accounting in an organisation’.
The blog must be presented as an online blog in an engaging and practical way, covering
relevant academic theory, making use of, for example, headings, images and illustrations.
Your blog should include the following, but is not limited to:
the purpose and scope of accounting in complex operating environments
a critical evaluation of the accounting function in informing decision making and
meeting stakeholder and societal needs and expectations
the main branches of accounting and job skillsets and competencies
accounting systems and the role of technology in modern-day accounting
issues of ethics, regulation and compliance and the extent to which they are
constraints or threats to the organisation.
Having completed the first activity, you have now been asked to work with a hospitality and
catering start- up business that your firm has just taken on as a client. The business is
particularly in need of support and guidance with budgeting and how it can be used to
inform efficient resource allocation and support effective control and decision making.
The founder of the business is investing £100,000 of their own capital and has also secured
a business loan of £50,000.
LO1 Examine the context and purpose of accounting.
LO4 Prepare budgets for planning, control and decision making using spreadsheets.
Transferable skills and competencies developed
Reasoning and analytical skills
Written communication using a range of media
Manipulation and interpretation of data using spreadsheets
Effective communication of relevant information across the organisation and to
appropriate stakeholders
Creation and interpretation of information, showing how that information can
be used most effectively to add value to an organisation.
Vocational scenario
Organisation
Deloitte is a multinational professional service company that undertakes extensive business
consultancy work for their client base. They have a central London head office and regional
offices in the UK in Birmingham and Southampton. Last year, the group turnover was £200
m with 25 per cent deriving from non-UK markets, principally in Southeast Asia. They have
a small regional office in Vietnam. The firm also has a policy of taking on smaller niche
clients, where they feel there is potential for fast growth.
Role
You have recently joined the firm as a Graduate Trainee attached to their UK SME (Small
and Medium Enterprises) Unit, offering accountancy and financial services to businesses
that typically have a turnover ranging from £0.5 m to £15 m. As part of your ongoing
training, you have been asked to undertake some
activities.
Assignment activity and guidance
Your supervisor, one of the firm’s Key Account Managers, has asked you to prepare a blog
that will be used to market and promote its accounting services to new and existing clients.
The working title you have been given for the blog is ‘The role of accounting in an organisation’.
The blog must be presented as an online blog in an engaging and practical way, covering
relevant academic theory, making use of, for example, headings, images and illustrations.
Your blog should include the following, but is not limited to:
the purpose and scope of accounting in complex operating environments
a critical evaluation of the accounting function in informing decision making and
meeting stakeholder and societal needs and expectations
the main branches of accounting and job skillsets and competencies
accounting systems and the role of technology in modern-day accounting
issues of ethics, regulation and compliance and the extent to which they are
constraints or threats to the organisation.
Having completed the first activity, you have now been asked to work with a hospitality and
catering start- up business that your firm has just taken on as a client. The business is
particularly in need of support and guidance with budgeting and how it can be used to
inform efficient resource allocation and support effective control and decision making.
The founder of the business is investing £100,000 of their own capital and has also secured
a business loan of £50,000.
(Note: students are to be provided with raw budget data in spreadsheet format, which they
will then manipulate and model.)
will then manipulate and model.)
You have been asked to prepare a memorandum that includes the following.
Production of a 12-month cash budget that makes use of variance analysis to show
the impact of the different individual scenarios below:
1. discounting prices by 20 per cent, which in turn increases sales volume per month by
10 per cent
2. increasing the marketing budget by 10 per cent per month, which in turn generates
an additional 20 per cent in sales revenue
3. offering suppliers one-month’s trade credit
4. reducing rental/property related costs by 15 per cent per month.
An evaluation of the role that budgets play in the effective planning and control of
resources in an organisation such as your client’s. This will include both benefits and
any limitations of using budgets and the extent to which they can help identify
problems and corrective actions.
An outline of a range of budgetary control solutions, with justification, to support
organisation decision making and ensure efficient and effective deployment of
resources.
Recommended Resources
Please note that the resources listed are examples for you to use as a starting point in
your research – the list is not definitive.
Weblinks
Accounting Coach courses. Available at:
https:/
/www.accountingcoach.com/accounting-basics/explanatio
n
The Association of Chartered Certified Accountants ACCA). Available at: https://www.
accaglobal.com/gb/en.html
Chartered Institute of Management Accountants. Available at:
https://www.cimaglobal. com/
Indeed Career Guide to Memo Writing. Available at:
https://www.indeed.com/career-advice/career-development/memo-
writing-guide
HubSpot. How to write a memo: Templates & examples. Available at:
https://blog.hubspot. com/marketing/how-write-memo
HN Global
HN Global (2021) Reading Lists. Available at:
https://hnglobal.highernationals.com/learningzone/ reading-lists
HN Global (2021) Student Resource Library. Available at:
https://hnglobal.highernationals. com/subjects/resource-libraries
HN Global (2021) Textbooks. Available at: https://hnglobal.highernationals.com/textbooks
Textbooks
Dyson, J R - Accounting for non-accounting students, 8th Edition (Pearson Education, 2010)
Dyson, J R & Ellie, F - Accounting for non-accounting students, 10th Edition (Pearson Education,
2020).
Atrill, P. & McLaney, E. (2018) - Accounting and Finance for Non-Specialists. 11th Ed. Harlow:
Pearson Brewer, P C; Garrison, R H; Noreen, E W – Introduction to Managerial Accounting, 5th
Edition
(Mcgraw-Hill Irwin, 2010)
Production of a 12-month cash budget that makes use of variance analysis to show
the impact of the different individual scenarios below:
1. discounting prices by 20 per cent, which in turn increases sales volume per month by
10 per cent
2. increasing the marketing budget by 10 per cent per month, which in turn generates
an additional 20 per cent in sales revenue
3. offering suppliers one-month’s trade credit
4. reducing rental/property related costs by 15 per cent per month.
An evaluation of the role that budgets play in the effective planning and control of
resources in an organisation such as your client’s. This will include both benefits and
any limitations of using budgets and the extent to which they can help identify
problems and corrective actions.
An outline of a range of budgetary control solutions, with justification, to support
organisation decision making and ensure efficient and effective deployment of
resources.
Recommended Resources
Please note that the resources listed are examples for you to use as a starting point in
your research – the list is not definitive.
Weblinks
Accounting Coach courses. Available at:
https:/
/www.accountingcoach.com/accounting-basics/explanatio
n
The Association of Chartered Certified Accountants ACCA). Available at: https://www.
accaglobal.com/gb/en.html
Chartered Institute of Management Accountants. Available at:
https://www.cimaglobal. com/
Indeed Career Guide to Memo Writing. Available at:
https://www.indeed.com/career-advice/career-development/memo-
writing-guide
HubSpot. How to write a memo: Templates & examples. Available at:
https://blog.hubspot. com/marketing/how-write-memo
HN Global
HN Global (2021) Reading Lists. Available at:
https://hnglobal.highernationals.com/learningzone/ reading-lists
HN Global (2021) Student Resource Library. Available at:
https://hnglobal.highernationals. com/subjects/resource-libraries
HN Global (2021) Textbooks. Available at: https://hnglobal.highernationals.com/textbooks
Textbooks
Dyson, J R - Accounting for non-accounting students, 8th Edition (Pearson Education, 2010)
Dyson, J R & Ellie, F - Accounting for non-accounting students, 10th Edition (Pearson Education,
2020).
Atrill, P. & McLaney, E. (2018) - Accounting and Finance for Non-Specialists. 11th Ed. Harlow:
Pearson Brewer, P C; Garrison, R H; Noreen, E W – Introduction to Managerial Accounting, 5th
Edition
(Mcgraw-Hill Irwin, 2010)
Pearson Education 2021
Higher Education
Qualifications Assignment
Brief
Higher Education
Qualifications Assignment
Brief
Learning Outcomes and Assessment Criteria
Pass Merit Distinction
LO1 Examine the context and purpose of accounting D1 Critically evaluate the
role of accounting in
informing decision making
to meet organisational,
stakeholder and societal
needs within complex
operating environments.
P1 Examine the purpose of
the accounting function
within an organisation.
P2 Assess the accounting
function within the
organisation in the context of
regulatory and ethical
constraints.
M1 Evaluate the context and
purpose of the accounting
function in meeting
organisational, stakeholder and
societal needs and expetations.
LO4 Prepare budgets for planning, control and decision making using spreadsheets
P6 Prepare a cash
budget from given
data for an
organisation using a
spreadsheet.
P7 Discuss the benefits
and limitations of
budgets and budgetary
planning, and control for
an organisation.
M4 Identify corrective
actions to problems revealed
by budgetary planning and
control for effective
organisational decision
making.
D3 Justify budgetary control
solutions and their impact on
organisational decision making
to ensure efficient and
effective deployment of
resources.
Pearson Education 2021
Higher Education
Qualifications Assignment
Brief
Pass Merit Distinction
LO1 Examine the context and purpose of accounting D1 Critically evaluate the
role of accounting in
informing decision making
to meet organisational,
stakeholder and societal
needs within complex
operating environments.
P1 Examine the purpose of
the accounting function
within an organisation.
P2 Assess the accounting
function within the
organisation in the context of
regulatory and ethical
constraints.
M1 Evaluate the context and
purpose of the accounting
function in meeting
organisational, stakeholder and
societal needs and expetations.
LO4 Prepare budgets for planning, control and decision making using spreadsheets
P6 Prepare a cash
budget from given
data for an
organisation using a
spreadsheet.
P7 Discuss the benefits
and limitations of
budgets and budgetary
planning, and control for
an organisation.
M4 Identify corrective
actions to problems revealed
by budgetary planning and
control for effective
organisational decision
making.
D3 Justify budgetary control
solutions and their impact on
organisational decision making
to ensure efficient and
effective deployment of
resources.
Pearson Education 2021
Higher Education
Qualifications Assignment
Brief
Higher Nationals RQF
STUDENT ASSESSMENT SUBMISSION AND
DECLARATION
When submitting evidence for assessment, each student must sign a declaration
confirming that the work is their own.
Student name:
BUI THI THU PHUONG (ELSIE)
Assessor name:
Ms Lan Phuong
Issue date:
25 November, 2021
Submission date:
19 December, 2021
Submitted on:
Programme:
Pearson BTEC Level 5 Higher National Diploma in Business (Business
Management)
Unit:
Unit 5: Accounting Principle
Assignment number and title:
AP1: Accounting in Context and Budgetary Control (1 of 2)
Plagiarism
Plagiarism is a particular form of cheating. Plagiarism must be avoided at all costs and
students who break the rules, however innocently, may be penalised. It is your
responsibility to ensure that you understand correct referencing practices. As a
university level student, you are expected to use appropriate references throughout and
keep carefully detailed notes of all your sources of materialsfor material you have used in
your work, including any material downloaded from the Internet. Please consult the
relevant unit lecturer or your course tutor if you need any further advice.
Student Declaration
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand
the consequences of plagiarism. I understand that making a false declaration is a form
of malpractice.
Student signature: PHUONG Date:
Higher Nationals –Assignment Feedback Form
Pearson Education
Higher Education Qualifications
STUDENT ASSESSMENT SUBMISSION AND
DECLARATION
When submitting evidence for assessment, each student must sign a declaration
confirming that the work is their own.
Student name:
BUI THI THU PHUONG (ELSIE)
Assessor name:
Ms Lan Phuong
Issue date:
25 November, 2021
Submission date:
19 December, 2021
Submitted on:
Programme:
Pearson BTEC Level 5 Higher National Diploma in Business (Business
Management)
Unit:
Unit 5: Accounting Principle
Assignment number and title:
AP1: Accounting in Context and Budgetary Control (1 of 2)
Plagiarism
Plagiarism is a particular form of cheating. Plagiarism must be avoided at all costs and
students who break the rules, however innocently, may be penalised. It is your
responsibility to ensure that you understand correct referencing practices. As a
university level student, you are expected to use appropriate references throughout and
keep carefully detailed notes of all your sources of materialsfor material you have used in
your work, including any material downloaded from the Internet. Please consult the
relevant unit lecturer or your course tutor if you need any further advice.
Student Declaration
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand
the consequences of plagiarism. I understand that making a false declaration is a form
of malpractice.
Student signature: PHUONG Date:
Higher Nationals –Assignment Feedback Form
Pearson Education
Higher Education Qualifications
Higher Nationals RQF
Student Name/ID BUI THI THU PHUONG (ELSIE)
Unit Title Unit 5. Accounting Principles
Assignment Number 01 of 2 Assessor Ms Lan Phuong
Submission Date 19/11/2021 Date Received 1 st
submission
Re-submission Date Date Received 2 nd
submission
Formative Feedback: Assessor to Student
Action Plan
Pearson Education
Higher Education Qualifications
Student Name/ID BUI THI THU PHUONG (ELSIE)
Unit Title Unit 5. Accounting Principles
Assignment Number 01 of 2 Assessor Ms Lan Phuong
Submission Date 19/11/2021 Date Received 1 st
submission
Re-submission Date Date Received 2 nd
submission
Formative Feedback: Assessor to Student
Action Plan
Pearson Education
Higher Education Qualifications
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