BUS201 Management Accounting Assessment: Business Report Assessment Answer

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Question :


Subject Code and Name: BUS201 Management Accounting Assessment 

Final exam – Business Report 

Individual/Group: Individual 

Length 1,500 words 

Learning Outcomes b. Interpret financial reports for internal management and external users. c. Analyse and interpret financial profitability and liquidity. d. Evaluate the role of budgeting together with developing, implementing and managing operating and capital budgets. e. Appraise the role and purpose of international benchmarking and analysis tools in evaluating business performance against budgets. g. Analyse the relationship of financial reports and operational performance Weighting 50% Total Marks 100 marks.

Context: This assessment focuses on the practical application of concepts and skills from lectures, tutorials, your textbook, PowerPoint slides, other readings, class discussions and related activities.

Question: Assume you are part of the executive team of a major hotel. Given the current COVID-19 crisis, prepare a business report that explains how you would use your new knowledge of Management Accounting principles to prepare for the uncertain period ahead. In your answer, you must explain the importance of principles such as the objectives of Management Accounting in relation to Budgeting, Cost Volume Profit analysis, Break-Even Analysis, Special order pricing, Relevant Costs and Department Overhead Costing. Explain how you would benchmark this across other international hotels in the group.

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