Unit 14: Advanced Management Accounting

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Assignment Front SheetStudentName/ID/Class(V)Trần Linh TrangID:F11- 085(E)(Class) F11CUnitTitleUnit 14: Advanced Management AccountingAssignment TitleAMA1: Accounting Advisory ReportAssignmentNumber1AssessorSubmissionDateDateReceived1stSimilarity ReportIn This Assessment You Will Have Opportunities To Provide Evidence Against The Following Criteria.Indicate The Page Numbers Where The Evidence Can Be FoundSTUDENT DECLARATION:I certify that the work submitted for this assignment is my own. I have clearly referenced any sources used in thework. I understand that false declaration is a form of malpractice.Student Signature: Trang Date: 26/12/20191
Achievement SummaryAssessmentCriteriaIn the assessment you will havethe opportunity to presentevidence that shows you areable to:Evidence(page no)Achieved(tick)InternalVerificationFirstAttemptRe-submissionLO1 Analyse the purpose for developing and presenting financialinformationP1Analyse the purpose andpresentation of financialinformation from the perspective ofdifferent stakeholders.M1Evaluate how and why financialinformation should be developedand appropriately presented tosupport financial planning anddecision-making.D1Critically evaluate financialinformation supported by effectiveand appropriate judgements.LO2Evaluate the use of management accounting techniques tosupport organisational performanceP2Evaluate the use of differentaccounting microeconomictechniques in application tosupporting organisationalperformance.M2Evaluate the value and importanceof a wide range of accountingtechniques by assessing bothadvantages and disadvantagesLO3 Analyse actual and standard costs to control and correctvariancesP4Analyse actual and standard coststo control and correct variances.M3Evaluate the advantages anddisadvantages of different types ofvariances.LO2& LO3D2Critically evaluate the application ofdifferent accounting techniques andvariances to support conclusions2
and recommendations.LO4Evaluate how a changing business environment impacts onmanagement accountingP5Evaluate how external and internalfactors changing the businessenvironment impact uponmanagement accounting.M4Determine the impact of differenttypes of change and the decisionsmade to respond to these changes.D3Critically evaluate the impact ofchanges, and support justifiedrecommendations for futurecommunication and acceptance ofchange.Assignment FeedbackFormative Feedback: Assessor to StudentAction PlanSummative Feedback:3
Grade:Assessor Signature:Date:Student Signature: TrangDate:FOR INTERNAL USE ONLYVERIFIED:YesNoDATE:VERIFIED BY:NAME:I.Balance sheet4
Balance sheet (also known as a statement of financial position)is official documentfollowing the standard accounting format that classify a company’s asset and liabilitiesregardless of the size or nature of the business (Zion Bank, 2017).All balance sheets show theAssetwhich are arranged in order of how quickly they can beturned into cash. Asset includeCurrent asset(=< 1 year) is converted into cash within one year or during the normalcourse of business (Zion Bank, 2017)InventoryCashAccount Receivableis the balance of money due to a firm for goods or servicesdelivered or used but not yet paid for by customers (Will, 2018)Non- current Asset(> 1 year) is an asset that is not expected to turn to cash withinone year of date shown on a company's balance sheet (Accounting coach, 2017).MachineryLand and buildingLiabilitiesare listed on the balance sheet in order of how soon they must be repaid. There aretwo types of liabilities: current liabilities and non- current liabilities.Current Liabilities(=, <1 year) are the amounts owed due to be paid within thecurrent operating cycle.Account Payableis the amount you can owe to any other supplier or creditor forservices or goods that you have received but have not been paid forNon- current Liabilities(> 1 year) are any debts that must be repaid by the companymore than one year from the date of the balance sheetLoan5
Equityrefers to the net financial amount the owner of the company has invested in thebusiness,including all retained earnings (Elise, 2019)Share Capitalis the money a company raises by issuing common or preferredstockRetained Earnings is the amount of net income left over for the business after ithas paid out dividends to its shareholders. \The benefits for userInvestorIn balance sheet,Investorwants to know aboutthetotal assetof the company such as: cash,equipment, land, building, inventories, investment, etc because they can know how muchmoney the company owns and its cash stockpile is big enough to pay money borrowed backto bankers. Additionally, the investors are able to see the ability in making good on its short-term financial obligations.Moreover, investors see theshareholder’s equityis the money which goesto the company,its owner or shareholder because it represents the amount that will be returned to theshareholders if all the assets are liquidated and all the debts of the company have been paidoff.Shareholder’s equity= Total asset- liabilities, higher equity means more money forshareholders which is company’s net income, net worth and overall value.CreditorDebt-to-equity ratio= Total liabilities / Shareholder’s equity (Current ratio).The currentratio is a liquidity and efficiency ratio that measures a firm’s ability to pay off its short-termliabilities with its current assets.6
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