lOMoARcPSD|50582371 Student Name/ID Number Unit Number and Title Unit 5: Accounting Principles Academic Year
Semester 2, Academic year 2023 – 2024 Unit Tutor
Dr.Nguyen Thi Thanh Mai, Dr.Le Thi Thu Ha and Ms.Nguyen Thi Kieu Trang Assignment Title
A1: Accounting in context and Budgetary control (1 of 2) Issue Date 31/1/2024 Submission Date 27/3/2024 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. You will need to provide a
bibliography using the Harvard referencing system. Inaccurate use of referencing may lead to issues of plagiarism if not applied correctly.
You will also submit an accounting 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. lOMoARcPSD|50582371
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:
A large accountancy firm 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 2 lOMoARcPSD|50582371
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: P1 – P2
• a critical evaluation of the accounting function in informing decision making and meeting stakeholder and societal needs and expectations: D
• the main branches of accounting and job skill sets and competencies: P1 – P2 - M
• accounting systems and the role of technology in modern-day accounting: M
• issues of ethics, regulation and compliance and the extent to which they are constraints or threats to the organisation.: P2
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 £130,000 of their own capital and has also secured a business loan of £50,000.
Tôi là cty kế toán, đây là khách hàng...
Khách hàng muốn mình lập budget (kế hoạch, quản lí, đưa ra quyết định)
Doanh nghiệp start up vốn đầu tư ban đầu là... và có 1 hạn mức tín dụng (lập hồ sơ vs ngân hàng với khoản vay là 50K)
You have been asked to prepare a memorandum with the following raw budget data:
During January, the business intends to make payments of £48,000 for a leasehold office until 30 June, £30,000 for equipment and £25,000 for a motor vehicle.
Họ cần thuê văn phòng, mua eqiupment để start up
3 khoản họ dự định trả
The business has produced the following estimates: 1.
Sales revenue for January will be 40,000. The business considers the promotion of revenue from February by increasing the marketing budget or discounting selling prices.
Cho sẵn sale tháng 1 dựa vào op lựa chọn => sales budget khác nhau Jan = 40,000 = P*Q Feb Giả = m 0. 2 8P 0% * P 1. 1Q Tăng 10% Q = 0.8 * 1.1 * P*Q (40,000) 2.
The gross profit percentage will be 35 per cent, and the cost of sales will be paid immediately in the month incur.
Lợi nhuận gộp sau khi nhận đc vốn
Sales (100%) – Cost of good sold (sale) (65%) = Gross profit (35%) 3.
Sales revenue will consist of 55% of cash sales and 45% of credit sales. Credit customers are expected to pay two months after the sale is agreed. Doanh thu tháng biết
Thu tiền 55% thu được ngay tháng đó
Thu 45% sau 2 tháng (tháng 3) 4.
Wages and salaries per month will be £3,000 plus 15% of sales revenue of the previous month. Overheads will be £800 a month for the first six months and £900 thereafter.
Bothtypes of expense will be payable when incurred. Expense cash out 5.
Seventy-five percent of sales revenue will be generated by salespeople who will receive 7 per cent commission on sales revenue. The commission is payable one month after the saleis agreed. Cash out 6.
The business intends to purchase further equipment in July for £15,000 cash. Cash out 7.
Monthly marketing expense will be £2,000 and payable by cash immediately in month incurs. Cash out 8.
Other operating expenses estimated will be 6% of sales revenue monthly and paid immediately. Cash out
You have been asked to prepare a briefing report 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 (P), which in turn increases sales volume per month by 10 per cent (Q) (P*Q) tăng 0.8
2. increasing the marketing budget by 10 per cent per month, which in turn generates an additional 20 percent in sales revenue . 3 lOMoARcPSD|50582371
3 . offering suppliers one-month’s trade credit
4 . reducing rental/property related costs by 15 percent per month
An evaluation of the role that budgets play in the effective planning and control of resources in an organisation such as this client. This will include both benefits and any
limitatio ns o f using budgets and the extent to which they can help identify problems and corrective actions. Lí thuyế t
An outline of a range of budgetary control solutions, with justification, to support organisation decision making and ensure efficient and effective deployment of resources.
Example : số ... đạt được bao nhiêu , compare, solution, đưa ra kết luận ( D )
Họ đưa 2 phương án để sales
Op1: disc 20% price để tăng 10% sản lượng bán
Op2: Tăng chi phí mar dể tăng sản lượng bán Làm cả 2 phương án
Show manager (chọn 1 phương án)
Nguyên tắc: sale(ngân sách cho doanh thu)
....để đạt được budget đó x 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/explanation
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
Atrill, P. and McLaney, E. (2018) Accounting and Finance for Non-Specialists. 11th Ed. Harlow: Pearson
Weetman, P. (2019). Financial and Management Accounting: An Introduction. Harlow: Pearson 4 lOMoARcPSD|50582371
Learning Outcomes and Assessment Criteria Pass Merit Distinction
LO1 Examine the context and purpose of accounting
P1 Examine the purpose of the accounting function within
M1 Evaluate the context and purpose of the accounting
D1: Critically evaluate the role of accounting in informing
decision-making to meet organisational, stakeholder and an organization.
function in meeting organisational, stakeholder and societal
societal needs within complex operating environments. needs and expectations.
P2 Assess the accounting function within the organisation
in the context of regulatory and ethical constraints.
Investor có thể use accounting make decision What are user
Mỗi stakeholder nhưng mỗi ng có mục đích khác nhau, dựa vào thôgn tin có
LO4 Prepare budgets for planning, control and decision making using spreadsheets
D3 Justify budgetary control solutions and their impact on
organisational decision making to ensure efficient and
M4 Identify corrective actions to problems revealed by
effective deployment of resources.
P6 Prepare a cash budget from given data for an
budgetary planning and control for effective organisatiotal
organisation using a spreadsheet. (excel 2 bảng screnio) decision making. List cash in – cash out
Identify – đánh giá control là giai đoạn gì
Từ control có thể có identify những problem nào => đưa
P7 Discuss the benefits and limitations of budgets and ra solution
budgetary planning, and control for an organisation.
(discuss) (kẻ bảng ra làm – đây là lí thuyết)
Chính trực khách quan Tra ethic accounting
Xã hội tahy đổi nhanh – quảng bá công ty qua những thay đổi của xã hội – ví dụ côgn ty tôi à tiên phong khi sử dụng morden-day accounting
Có những sẽtion = thôgn tin section 5