Assessment item 3
Environmental Accounting & Management Accounting
Value: 25%
Due Date: 22-Sep-2019
Task
Part A- Critical Analysis (50 marks) 1,500 words
Research and analyse the external reporting of Westpac Group and critique the usefulness of the information as a decision making tool for stakeholders who are concerned about the environmental and social impacts of the firm’s operations.
Use this research and analysis to evaluate, critique and discuss the key Global Reporting Initiative (GRI) disclosures concentrating on the interpretation of the accounting guidelines and frameworks. Your discussion should include:
1. An overview of the environmental and social impacts (positive and negative) of the firm’s operations. (10 marks)
2. A comparison of the quality and depth of environmental and social performance information provided with other firms in the sector. (20 marks)
3. A discussion of the key challenges faced by the firm when complying with the GRI Reporting Standards. (10 marks)
4. An evaluations of whether widespread compliance with the GRI Reporting Standards by other comparable organisations would benefit potential investors, current shareholders and other stakeholders of the firm. (10 marks)
Part B Strategic Initiative (40 Marks) 1,000 words
Jerry Pty Limited is considering a strategic initiative to develop a new range of products. The sales and production teams have developed a high level cost analysis. Prior to pursuing these initiatives they have asked for your management accounting focused input and guidance.
Prepare a short internal briefing document critically analysing the strategic initiative that you will distribute at a team meeting. As part of your briefing, consider the following:
1. What are the likely major costs associated with the ongoing operation for this strategic initiative. Estimate the cost behaviour (fixed, variable or otherwise) of each of the identified costs. (5 marks)
2. Develop a balanced scorecard that could be used to evaluate the success of this initiative. The scorecard should include the following perspectives: (15 marks)
· Financial
· Customer
· Internal business processes
· Learning and growth
Identify one objective for each perspective
Identify two measures for each objective (both financial and non-financial measures can be used).
Briefly discuss the key features of your scorecard and the reasons behind your chosen measures.
3. Critically evaluate whether break-even analysis would be a useful and reliable screening tool to assess the desirability of pursuing this new initiative. (5 marks)
4. Discuss the impact of the initiative on the organisations resources with reference to: (15 marks)
how many products will be need to be sold to break-even and achieve the given after-tax profit figure;
proposed strategies that you have developed that could enhance the break-even point and forecast profit. These strategies could impact the firm’s sales mix, selling prices, variable or fixed costs; and
include workings which illustrate how your proposed strategies could influence the break-even point and forecast profit.
Your responses to Part A and B must demonstrate an executive level understanding of the accounting concepts and analysis techniques and include at least 3 references to the academic literature.
Further details and guidance is provided in the presentation and requirements sections of this assessment item.
Rationale
This assessment task will assess the following learning outcome/s:
be able to explain and evaluate the concepts behind the management decision making processes associated with the efficient allocation of business resources.
Assessment Task 3 is designed to assess your understanding of the learning outcome above, covered by Topics 5, "Social and Environmental Accounting", Topic 6, "Management Accounting and Professional Ethics" and Topic 7, "Introduction to Management Accounting for Decision Making".
Presentation
This assignment must be submitted as a Word document. 10 marks have been allocated for referencing, presentation and communication skills for this assessment.
Part A Critical Analysis
Your critical analysis should be presented as an academic paper and be in MS word format:
· 12 point Arial
· Single line spacing
· Text justified left
· Use headings and sub headings
· Clearly acknowledge references in text and provide a reference list in accordance with the APA 6th edition style.
Your response should be no longer than 1,500 words (excluding referencing). Penalties apply where the word limit is exceeded by more than 10%.
Part B Strategic Initiative Briefing
Your internal briefing document should be presented as a formal business document suitable for an internal professional audience.
It must include all supporting workings and you can use the below table below to present your balanced score card.
Your internal briefing document should be no longer than 1,000 words (excluding referencing). Penalties apply where the word limit is exceeded by more than 10%.
Requirements
Part A Critical Analysis
Your response must be thoroughly researched and include the following sections.
1. Table of contents (linked to the headings in your report);
2. Introduction;
3. Body; and
4. Conclusion.
Ensure your academic writing:
· is clear and concise.
· is written in the third person.
· uses full sentences and paragraphs.
· is free from professional jargon.
· explicitly acknowledges and explains all assumptions.
Part B Strategic Initiative Briefing
Your internal briefing document can include headings, dot points and tables but must be written in the third person and be free from professional jargon.
You should explicitly acknowledge and explain all assumptions and include academic citations and references applying the APAP 6th edition style.