Please refer the below files and prepare my report accordingly.Please include in text referencing and a reference list for any external resources used.Please include appendices as well.
ACC73001 ADVANCED MANAGEMENT ACCOUNTING REPORT TWO: Implementing a balanced scorecard (Session 1 2020) This assignment is worth 20% of overall final grade See MySCU for more details about the time and submission requirements CPA Australia is one of the world's largest accounting bodies with a global membership of more than 164,695 members (as at 31 December 2018) working in 150 countries and regions around the world. Their core services to members include education, training, technical support and advocacy. Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the general public. In recent years CPA Australia has been under the spot light as their previous CEO Alex Malley came under significant criticism in the media and from CPA members in 2017 for his $1.8 million annual salary and for the significant amounts of CPA funds going towards promoting Malley and his personal interests, such as a paid television show and Malley's autobiography.[footnoteRef:1] [1: "A brief history of Alex Malley's unraveling CPA fiasco". Crikey. 5 June 2017. Retrieved 28 January 2020] The scandal surrounding Malley, combined with broader member discontent over executive changes that made the board unaccountable and debts accrued from the establishment of a financial planning arm, led to the resignation of the CPA president and two board members by June 2017. Since Andrew Hunter was appointed to the role of Chief Executive Officer (CEO) in April 2018 CPA Australia focus has shifted significantly. Andrew Hunter wants to ensure that CPA Australia continues to be successful in serving its members and strengthen its role as a trusted professional body of finance experts. You are the Senior Management Accountant for CPA Australia and have been engaged to assist the Project Manager of the Balanced Scorecard Implementation Project. You are guided by Andrew’s strong leadership and he recently defined CPA’s vision as one of “partnering with members to prepare for today and tomorrow in a globally connected world.”[footnoteRef:2] [2: https://www.cpaaustralia.com.au/about-us, CPA Australia, 31 Dec 2018, last retrieved 28 January 2020.] ACCA (Association of Chartered Certified Accountants), is one of CPA Australia’s biggest competitors and they have successfully implemented a balanced score card and a balanced scorecard does not currently exist for CPA Australia. Required: Write a report (Maximum 1,500 words, 10% (+/-) will be accepted with no penalty) to the Project Manager of the Balanced Scorecard Implementation project at CPA Australia to outline your Balanced Scorecard analysis and recommendations. The report should include: 1. A recommended balanced scorecard for CPA Australia by presenting the four perspectives of the balanced scorecard and list one or more performance objectives and measures for each perspective that is likely to be important to CPA Australia. Provide justification for each measure and how measuring it would link to improved financial performance. Indicate which measures are leading and which are lagging. 2. An overview of how you would implement the balanced scorecard at CPA Australia, including a high level project plan, key stakeholders, key considerations and identify any high level risks to ensure it is implemented successfully. 3. An outline of the pros and cons of implementing a balanced scorecard for CPA Australia, provide examples of how it could be used within the organisation and what financial and non-financial benefits could be realised. To determine the long-term strategic objectives of CPA Australia conduct your own research and utilise the information from the CPA Australia Annual Report 2018, Sustainability Report 2018 and the Independent Review Recommendations provided. Complete the assignment coversheet provided and Harvard Referencing[footnoteRef:3] should be followed. [3: http://libguides.scu.edu.au/management/referencing] The report should be submitted as a WORD (not PDF) document. ACC73001: Advanced Management Accounting Report 2 Outline: CPA Australia4 | Page Assessment Criteria Poor Unsatisfactory Satisfactory Good Excellent Recommended balanced scorecard (7.5 Marks) 0 - 1.5 Marks The recommended balanced scorecard is mostly inaccurate and incomplete. An understanding of the application of the course content in a business context has not been demonstrated. 1.5 – 3 Marks Some of the recommended balanced scorecard is accurate. Assignment instructions have not been followed and key items have been left out. 3 - 4.5 Marks Most of the recommended balanced scorecard is accurate and reasonable understanding of the application of course content has been demonstrated. 4.5 - 6 Marks All of the recommended balanced scorecard has been prepared accurately, however there are a few - minor errors arising from careless mistakes and lack of attention to detail. A very good understanding of the application of course content has been demonstrated. 6 -7.5 Marks All of the recommended balanced scorecard has been accurately prepared. An excellent understanding of course content has been demonstrated and executed. Balanced Scorecard Implementation Plan including pros & cons (7.5 Marks) 0 - 1.5 Marks Balanced Scorecard Implementation Plan are mostly inaccurate and incomplete. An understanding of the application of the course content in a business context has not been demonstrated. 1.5 – 3 Marks Some of the Balanced Scorecard Implementation Plan are accurate but there are inconsistencies in the data or basic calculations are incorrect. Assignment instructions have not been followed and key items have been left out. 3 - 4.5 Marks Most of the Balanced Scorecard Implementation Plan are accurate but there are inconsistencies in the data or basic calculations. A reasonable understanding of the application of course content has been demonstrated. 4.5 - 6 Marks The Balanced Scorecard Implementation Plan have been prepared and are mostly accurate - minor errors arising from careless mistakes and lack of attention to detail. A very good understanding of the application of course content has been demonstrated. 6 -7.5 Marks The Balanced Scorecard Implementation Plan has been accurately prepared. An excellent understanding of course content has been demonstrated and executed. Overall Presentation of Report (5 Marks) 0 – 1 Marks Presentation is unprofessional with numerous spelling and grammatical errors and it does not cover the key requirements set out in the assignment instructions. Inadequate analysis. Not presented in the format of a business report. Very limited use of visual aids. 1-2 Marks Presentation is reasonable but the key issues have not been adequately addressed. Spelling and grammatical errors make the report unpresentable requiring the report to be rewritten before it could be presented. Opinions expressed lack insight. Not all aspects of a business report format have been utilised. Limited use of visual aids. 2-3 Marks Presentation is reasonable and the key issues have been addressed but more insight into the business could be demonstrated. Some minor spelling and grammatical errors. Most components of a business report format have been incorporated. Reasonable use of visual aids. 3-4 Marks Good, well written presentation and all issues have been covered. Demonstrates a solid insight into the business and recommendations are appropriate. All components of a business report format have been incorporated. Good use of visual aids. 4-5 Marks Excellent presentation with no spelling or grammatical errors. Demonstrates excellent insight into the business operations and external issues that may affect the business. All components of a business report format have been incorporated. Excellent use of visual aids. 2018 GRI information P A G E 1 C P A A U S T R A L IA 2 0 1 8 To support our reporting under the Global Reporting Initiative (GRI) standards and improve conciseness of our report we provide further information on our management approach in some areas and further people, stakeholder and supply chain information online only. This information adds to that provided in our 2018 Integrated Report. CPA PROGRAM AND CERTIFICATION The CPA Program is a comprehensive postgraduate education program designed to provide candidates with a thorough grounding in accountancy, finance and business knowledge. In addition to technical accounting skills, it focuses on strategy, leadership, ethics and governance with a view to developing agile and adaptable accounting professionals who are ready to meet the challenges of a changing business world. Candidates study six subjects, four compulsory subjects and two electives, and must also demonstrate three years of practical experience. We continue to expand our offer to ensure that the CPA Program remains relevant and responsive to our profession. CPA Australia welcomes applicants with diverse or non-accounting educational backgrounds who wish to achieve the CPA designation. We offer a pathway to these candidates through Foundation exams. Foundation exams are a suite of six bridging subjects, equivalent to undergraduate level, that address specific areas of core knowledge required for entry into the CPA Program. While CPA Australia retains control of critical functions relating to content, design specifications, assessment and quality assurance across our education portfolio, we work with the following supply partners to deliver the CPA Program to our members and candidates: • DeakinCo, who develop teaching and learning materials such as study guides and knowledge checks • PearsonVUE, who provide exam development, exam delivery and assessment services • IVEO, who print and distribute study materials • BPP, who develop teaching and learning materials for the Foundation exams CPA Australia draws on the professional support of members working in academia and industry, as well as our own education and technical specialists, to ensure that the content of the CPA Program remains relevant and contemporary. We do this through a series of specialist committees, including the Professional Qualifications Advisory Committee (PQAC), which provides advice on the education framework for members, the Special Consideration Committee and Subject Advisory Panels. Members of these committees include professors and senior academics from prestigious educational institutions alongside leading industry experts. It is important that CPA Australia upholds the high standards of the profession when it comes to passing candidates. We have adopted best practice methodologies and implemented many measures to ensure assessment is rigorous, and that the marks awarded to a candidate are a true representation of the level of knowledge and skills they have demonstrated. In 2018, the Examinations Policy Advisory Committee (EPAC), was dissolved after consultation with the EPAC chair, as the committee was originally set up to review the CPA Program subject pass marks, a role which was no longer required due to the appointment of PearsonVUE and the psychometric approach to measurement and marking. The Special Consideration Committee now reports directly into PQAC. 2018 GRI INFORMATION P A G E 2 C P A A U S T R A L IA 2 0 1 8 PROFESSIONAL DEVELOPMENT AND KNOWLEDGE The value of the CPA designation stems not only from the