Teamwork Experience in Management Accounting ACCM 4100 Assignment

This essay discusses a student's experience working in a team for a management accounting assignment focused on budget preparation for a cabinet manufacturing concern. The student reflects on the importance of teamwork, individual roles, and coordination in achieving project success. The assignment involved preparing sales, production, and direct material budgets, requiring linear workflow and diligent calculations. The student emphasizes the value of cooperation and the lessons learned from this practical experience, highlighting its relevance to future professional endeavors. The essay concludes that teamwork fostered efficiency and a deeper understanding of collaborative success, which would have been difficult to achieve individually. This document is available on Desklib, a platform offering study tools and solved assignments for students.

Running Head: Experience of Working as an Assignment Team
Management Accounting

Experience of Working as an Assignment Team 1
Introduction
In order to achieve high work efficiency, organisations often use employees that are
organised into the cross functional groups. While moving from classrooms to the corporate
world, we will be asked to work in the collaborative manner with the other members of the
teams created to achieve particular organisational goal. Therefore, it is necessary for us to
understand the importance of teamwork. Though, in the current times, working in the groups
have become quite common, it is necessary to assess each teamwork experience and to
identify the lessons learnt as a result of the assignments that involved collaborative
teamwork. In the further section, I will discuss my experiences of working with my own
project team. During the entire project I have gathered various positive experiences.
Learning from the team assignment
Our team has been created by our lecturer for the purpose of completion of assignment given
under the subject of management accounting. With the motive of assessing our
understanding on management accounting tools and techniques, our lecturer has given us a
case study related to the topic: preparations of various types of budgets for a cabinet
manufacturing concern. As a part of teamwork assignment I have been assigned the task of
preparation of sales (revenue) budget, production budget and the direct material budget for
both the categories of cabinets manufactured by the company in the given case study.
For the purpose of the assignment that required good amount of sincere efforts as a team, we
were asked to assimilate into the groups of three students. The assigned project was discussed
clearly by our professor before instructing us to start working on that and during the project
orientation class, the professor also assigned all the three of us our responsibilities in context
of our given project.

Experience of Working as an Assignment Team 2
In my opinion, the team creation decision of our professor was quite good decision as all the
three of us were sincere enough towards the assigned individual goals. As a team, we all were
committed to the overall success of the group. Hence, each member from our team has
performed our level best in the respective areas. Not only the efficiency and correctness of
our individual works allowed us to contribute the success of the given project but the
coordination has also played the most important role in the smooth completion of the task by
in the timely manner.
Once it was decided as to what we need to perform as a task, we clearly assigned the
deadlines for our respective works. The nature of the assignment was as such which required
the work to be performed in the linear fashion as the output of work of one member was to be
used as the input for another’s work (Horngren et. al., 2002). As I was assigned with the work
of preparation of budgets in the areas of sales, production and the purchase of raw materials,
my task was the basic most one (Hansen, Mowen & Guan, 2007). The results of my task were
supposed to form as the basis for the other team members. Therefore, it was my core
responsibility to complete the assigned work in the minimum possible time without any
delays so that the other team members could proceed with their piece of assigned work on
time to avoid any ill-consequences of delay in the submission of the assigned project (Vallas,
2003). Since, I knew the relevance of my piece of work, I applied due diligence in
performing all the calculations that were necessary to conclude my part. Also, I was
concerned enough to show my calculations in the most clear ways so that the other team
members could understand the data generated by me while inputting the same in their piece
of work (Salas, Rosen, 2013).
Conclusion

Experience of Working as an Assignment Team 3
The entire assignment engagement has allowed all me to develop a deep understanding of the
importance of teamwork and the relevance of each member’s role in the successful
completion of project in the given time. I personally feel that if the entire project was
completely assigned to any of the members in place of applying of the approach of teamwork
to it, it would not be possible for any of us to achieve the desired level of efficiency in
delivering the assignment as the budget preparations required certain amount of time and
efforts, which were difficult for an individual member to invest. Teamwork has allowed us to
understand the significance of cooperation between all the members in the overall success of
the project. This knowledge that we have gathered by practically working as a team will
certainly encourage us to provide our level best to achieve the overall organisational goal,
while we will enter the practical corporate world.

Experience of Working as an Assignment Team 4
References:
Hansen, D., Mowen, M. and Guan, L., 2007. Cost management: accounting and control.
Cengage Learning.
Horngren, C.T., Bhimani, A., Datar, S.M., Foster, G. and Horngren, C.T., 2002. Management
and cost accounting. Harlow: Financial Times/Prentice Hall.
Salas, E. and Rosen, M.A., 2013. Building high reliability teams: progress and some
reflections on teamwork training. BMJ Qual Saf, 22(5), pp.369-373.
Vallas, S.P., 2003. Why teamwork fails: Obstacles to workplace change in four
manufacturing plants. American Sociological Review, pp.223-250.