Briefly discuss the budgeting process. (5 marks) 2. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies the purpose of planning, controlling and evaluating performance.

1. Briefly discuss the budgeting process. (5 marks)
2. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies
the purpose of planning, controlling and evaluating performance. (5 marks)
3. The two widely used practices in preparing budgets are ‘top down’ budgeting and ‘bottom up’
budgeting. Identify and explain the practice adopted by the organisation discussed in your selected
journal article and further explain the behavioural implications of adopted practice. (5 marks)
4. Based on your literature findings (above), critically evaluate the comment that ‘traditional budgeting
practices are constraint on creativity, and the time and energy spent on budget formulation is better
spent elsewhere’.
5. Based on your literature findings (above), would you recommend budgeting for contemporary
organisations for planning and control purpose? Explain (5 marks)HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester T1 2020 Unit Code HI5017 Unit Title Managerial Accounting Assessment Type Assignment Assessment Title Individual Assignment Purpose of the assessment (with ULO Mapping) Students are required to develop their understanding of the purpose and use of management accounting systems, and its usefulness in aiding managers make informed decisions. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting systems by contemporary companies, in terms of their relevance to the decision-making by managers and achievement of business goals (ULO 1,2,3,4) Weight 30% of the total assessments Total Marks 30 Word limit Not more than 3,000 words. Please use “word count” and include in assignment. Due Date Week 9 Sunday the 31st May at 11.59 p.m. Submission Guidelines • All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page. • The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. • Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style. • It is the responsibility of the student who is submitting the work, to ensure that the work is in fact her/his own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking on Blackboard before final submission in the subject. For further details, please refer to the Unit Outline and Student Handbook. Page 2 of 6 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020 Individual Assignment Specifications Purpose: This assignment aims at developing your understanding of the purpose and use of management accounting systems, and its usefulness in aiding managers make informed decisions. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting systems by contemporary companies, in terms of their relevance to the decision-making by managers and achievement of business goals. Assignment Task: Journal Article Critique (30 Marks) You are required to conduct a literature search and discussion in this assignment. You are to choose a peer reviewed journal article (from any country) on the: -Use of Budgeting as a management technique for managing resources. The article should be published between 2010 – 2020. Choose your article only after you have accessed several relevant articles, and then choose the best articles that will answer the assignment question below. Required: Critically evaluate the relevance and challenges of budgeting systems by answering the 5 questions below: Questions: 1. Briefly discuss the budgeting process. (5 marks) 2. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies the purpose of planning, controlling and evaluating performance. (5 marks) 3. The two widely used practices in preparing budgets are ‘top down’ budgeting and ‘bottom up’ budgeting. Identify and explain the practice adopted by the organisation discussed in your selected journal article and further explain the behavioural implications of adopted practice. (5 marks) 4. Based on your literature findings (above), critically evaluate the comment that ‘traditional budgeting practices are constraint on creativity, and the time and energy spent on budget formulation is better spent elsewhere’. 5. Based on your literature findings (above), would you recommend budgeting for contemporary organisations for planning and control purpose? Explain (5 marks) Additional Information: a) You are encouraged to choose the journal article from the following Accounting and Management Accounting Journals: Accounting, Auditing and Accountability Journal; Page 3 of 6 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020 Journal of Management Accounting Research Journal of Applied Management Accounting Research b) You can access these journals in ProQuest Database by clicking on the above links. Log in details for ProQuest are – Username: Holmes2004; Password: Holmes. These journals can also be accessed via the ProQuest Database link available via the Student Login page in the Holmes website. You can also use Google Scholar. Don’t use Google. c) No student can choose the same article as another student from the same class, else both students may receive a zero mark, at the Lecturer’s discretion. d) The journal article must be uploaded (as a separate PDF file) together with your assignment (as a MS WORD file format) in Blackboard under the folder . 5 marks will be deducted if you do not submit the articles with your assignment. Assignment Structure: The report should include the following components: a. Assignment cover page clearly stating your name and student number b. Abstract (one paragraph) c. Table of contents d. A brief introduction or overview of what the report is about. e. Body of the assignment with appropriate section headings f. Conclusion g. List of References. Marking Criteria Marking Criteria Weighting Journal Article Critique 1. Briefly discuss the purposes of budgeting process. (5 marks) 5% 2. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies the purpose of planning, controlling and evaluating performance. (5 marks) 5% 3. The two widely used practices in preparing budgets are ‘top down’ budgeting and ‘bottom up’ budgeting. Identify and explain the practice adopted by the organisation discussed in your selected journal article and further explain the behavioural implications of adopted practice. (5 marks) 5% 4. Based on your literature findings (above), critically evaluate the comment that ‘traditional budgeting practices are constraint on creativity, and the time and energy spent on budget formulation is better spent elsewhere’. (5 marks) 5% 5. Based on your literature findings (above), would you recommend the use of budgeting for contemporary organisations for planning and control purpose? Explain (5 marks) 5% Overall Presentation of Assignment 5% TOTAL Weight 30% Page 4 of 6 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020 Marking Rubric Excellent Very Good Good Satisfactory Unsatisfactory Journal Article Critique Briefly discuss the purposes of budgeting process (5 marks) (4.1 – 5 marks) Present an excellent discussion of the purposes of budgeting process. (3.6 – 4 marks) Present a very good discussion of the features of budgeting process. (3.1 – 3.5 marks) Present a good discussion of the features of budgeting process. (2.1 – 3 marks) Present a reasonable discussion of the features of budgeting process. (0 – 2 marks) Unable to explain the features of budgeting process. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies the purpose of planning, controlling and evaluating performance. (5 marks) (4.1 – 5 marks) Present an excellent discussion of the relevance of budgeting process as a planning, control and evaluation system, with examples provided from the organisation discussed in the selected journal article (3.6 – 4 marks) Present a very good discussion of the relevance of budgeting process as a planning, control and evaluation system, with examples provided from the organisation discussed in the selected journal (3.1 – 3.5 marks) Present a good discussion of the relevance of budgeting process as a planning, control and evaluation system, with examples provided from the organisation discussed in the selected journal (2.1 – 3 marks) Present a reasonable discussion of the relevance of budgeting process as a planning, control and evaluation system, with examples provided from the organisation discussed in the selected journal company. (0 – 2 marks) Unable to explain the relevance of budgeting process as a planning, control and evaluation system, with examples provided from the organisation discussed in the selected journal The two widely used practices in preparing budgets are ‘top down’ budgeting and ‘bottom up’ budgeting. Identify and explain the practice adopted by the organisation discussed in your selected journal article and further explain the behavioural implication of adopted practice. (5 marks) (4.1 – 5 marks) Clear, concise, compelling discussion of two practices. Clearly identifying the practice adopted by the organisation discussed in the selected journal and an excellent explanation of the behavioural implications of the adopted practice. (3.6 – 4 marks) A very good discussion of two practices. Clearly identifying the practice adopted by the organisation discussed in the selected journal and very good explanation of the behavioural implications of the adopted practice. (3.1 – 3.5 marks) A good discussion of two practices. Clearly identifying the practice adopted by the organisation discussed in the selected journal but not able to clearly explain the behavioural implications of the adopted practice. (2.1 – 3 marks) Adequate discussion of two practices. Clearly identifying the practice adopted by the organisation discussed in the selected journal and limited explanation the behavioural implications of the adopted practice. (0 – 2 marks) Unable to present a proper discussion of two practices. Not able to identify the practice adopted by the organisation discussed in the selected journal. Page 5 of 6 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020 Based on your literature findings (above), critically evaluate the comment that ‘traditional budgeting practices are constraint on creativity, and the time and energy spent on budget formulation is better spent elsewhere’. (5 marks) (4.1 – 5 marks) Clear, concise, compelling discussion of budgeting’s relevance in today’s competitive and uncertain business environment, with examples provided from the article. (3.6 – 4 marks) Present a very good discussion of budgeting’s relevance in today’s competitive and uncertain business environment, with examples provided from the article. (3.1 – 3.5 marks) Present a good discussion of budgeting’s relevance in today’s competitive and uncertain business environment, with examples provided from the article. (2.1 – 3 marks) Present a reasonable discussion of budgeting’s relevance in today’s competitive and uncertain business environment, with examples provided from the article. (0 – 2 marks) Unable to explain of target budgeting’s relevance in today’s competitive and uncertain business environment Based on your literature findings (above), would you recommend the use of budgeting for contemporary organisations for planning and control purpose? Explain (5 marks) (4.1 – 5 marks) Clear, concise, compelling recommendation of budgeting systems for contemporary organisations to use for planning and control purpose. (3.6 – 4 marks) A very good recommendation of budgeting systems for contemporary organisations to use for planning and control purpose. (3.1 – 3.5 marks) A good recommendation of budgeting systems for contemporary organisations to use for planning and control purpose. (2.1 – 3 marks) An adequate recommendation of budgeting systems for contemporary organisations to use for planning and control purpose. (0 – 2 marks) Unable to present proper recommendation of budgeting systems for contemporary organisations to use for planning and control purpose. Overall Presentation (5 marks) (4.1 – 5 marks) Include all elements and is very well presented. Writing flows clearly and sections are linked very effectively. Referencing is exemplary. English is used very effectively and error-free. (3.6 – 4 marks) Include all elements and is well presented. Writing flows clearly and sections are linked effectively. Referencing is of a high standard. English is used effectively with very few errors present. (3.1 – 3.5 marks) Include all elements and is generally presented appropriately. Writing mostly flows well and sections are linked. Referencing is in accordance with guidelines. English is used effectively with few errors present. (2.1 – 3 marks) Include most elements and is adequately presented. Writing sometimes does not flow clearly leaving the paper to seem disjointed in areas. Referencing is somewhat in accordance with guidelines. Basic English is used with some errors present. (0 – 2 marks) Lack key elements and is poorly presented. Writing does not flow clearly leaving the paper to seem disjointed. Referencing is not in accordance with relevant guidelines. Basic English is used with errors present. Total Marks (30) /30 Page 6 of 6 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020