Advanced Management Accounting 222

ASSIGNMENT:

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The submission is in the form of
an individual numerical/written report. This should be written in a
concise, formal business style using single spacing and font size 12.
You are required to make use of headings, paragraphs and subsections as
appropriate, and all work must be supported with research and referenced
using the Harvard referencing system. Provide working notes wherever
required. The document must be submitted to turnitin in word document.
Please provide a bibliography using Harvard referencing system if you
referred any sources for theoretical parts or questions. The
numbers/numerical statements and calculations must be neatly/clearly
shown so that the assessor assess the work of the learner appropriately.

L.O:1: Analyze the purpose for developing and presenting financial information

Task Summary

Management
accountants look ahead – they focus on forecasting and decision-making.
They use information to advise on how the business can move forward.
Management accounting involves using the internal financial information
available to managers, as well as that information which companies must
publish by law. This contributes to forward planning, reviewing and
analysing the performance of the business.

Scenario

P&S
Ltd is a company manufacturing and selling wide range of industrial
products to large number of businesses throughout the country. The
company is listed on the stock exchange and the business is highly
competitive and price sensitive. P&S Ltd is a locally owned
business, with 1500 people working out of several locations around the
region.

The company purchases numerous components from 250 local
and regional suppliers through placing not less than 25000 orders per
year. The company has plan to expand its business by investing on new
manufacturing plant in a different location. This will enable P&S
Ltd to create more jobs for the locals.

Actual financial data collected from the annual report of P&S Ltd for the year ended 31st December 2017 is as follows:

OMR

LAND & BUILDING

1,250,000

CASH

500,000

SALES

2,125,000

ACCOUNT RECEIVABLES

2,550,000

ACCOUNT PAYABLE

1,775,000

COST OF GOODS SOLD

1,750,000

CLOSING STOCK

500,000

PREPAID RENT

25,000

RENT

25,000

WAGES

165,000

ACCRUED WAGES

15,000

BANK OVERDRAFT

75,000

PAID IN CAPITAL

2,500,000

RETAIN EARNING AS AT 01/01/2017

275,000

As a Management Accountant a report need to be submitted covering the following questions;

Task 1

Analyse the purpose and presentation of financial information from the perspective of different stakeholders. (P1)

Task 2

Evaluate
how and why financial information should be developed and appropriately
presented to support financial planning and decision-making. (M1)

Task 3

Critically evaluate financial information supported by effective and appropriate judgements. (D1)