To help with choosing the articles for the assignment, I suggest the following: 1. Choose a recent and good real-life article/study on Standard Costing and Target Costing. 2. Thenrefer to the...

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To help with choosing the articles for the assignment, I suggest the following:


1. Choose a recent and good real-life article/study on Standard Costing and Target Costing.


2. Thenrefer to the reference list of the articleto view other real-life organisation studies on Standard Costing or Target Costing, that have been cited in that article.


3. Email your Lecturer the full reference of the articles you choose to check and approve.


4. You can choose 2 articles on each topic and your Lecturer can check if one is available.




HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL REFLECTIVE JOURNAL T3 2019 Assessment Details and Submission Guidelines Trimester T3 2019 Unit Code HI5017 Unit Title Managerial Accounting Assessment Type Assignment Assessment Title Individual Reflective Journal Purpose of the assessment (with ULO Mapping) The purpose of this assessment is to ensure each student is able to document a critical reflection of their personal learning process, as experienced during this unit (ULO 1, 5, 6, 7, 8). Weight 10% of the total assessments Total Marks 10 Word limit 1,000 words. Please use “word count” and include in assignment. Due Date Week 11 Friday at 11.59 p.m. Submission Guidelines  Students should complete the reflective journal individually.  All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page.  The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers.  Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.  It is the responsibility of the student who is submitting the work, to ensure that the work is in fact her/his own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking on Blackboard before final submission in the subject. For further details, please refer to the Unit Outline and Student Handbook. Page 2 of 3 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL REFLECTIVE JOURNAL T3 2019 Individual Reflective Journal Specifications Purpose: The Individual Reflective Journal is to ensure each student is able to contribute to document a critical reflection of their personal learning process, as experienced during this unit. A significant aspect of the reflective journal will be your reflections on what you learnt and experienced from your individual assignment. Assignment Task: 1. Reflections on the selected two peer reviewed journal articles based on the assignment topics. What went well, what did not go to plan, how did you addressed any difficulties, and what had you learnt from it. 2. Reflections on the research experience. What was enjoyable, what was difficult, what insights had you gained, and any issues, challenges you experienced. 3. Reflections on what you had learned from the individual assignment, including the relevance of the two costing techniques to businesses today. What insights had you gained and what had you learnt from it. Marking criteria: Marking criteria Weighting 1. Reflections on the selected two peer reviewed journal articles based on the assignment topics. 3% 2. Reflections on the research experience 3% 3. Reflections on what were learned from the individual assignment 4% TOTAL Weight 10% Page 3 of 3 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL REFLECTIVE JOURNAL T3 2019 Marking Rubric Excellent Very Good Good Satisfactory Unsatisfactory 1. Reflections on the selected two peer reviewed journal articles based on the assignment topics. (3 marks) Excellent reflections on the selected two peer reviewed journal articles based on the assignment topics. Very good reflections on the selected two peer reviewed journal articles based on the assignment topics. Good reflections on the selected two peer reviewed journal articles based on the assignment topics. Reasonable reflections on the selected two peer reviewed journal articles based on the assignment topics. Unable to present a proper reflection on the selected two peer reviewed journal articles based on the assignment topics. 2. Reflections on the research experience (3 marks) Excellent reflections on the research experience. Very good reflections on the research experience. Good reflections on the research experience. Reasonable reflections on the research experience. Unable to present a proper reflection on the research experience. 3. Reflections on what were learned from the individual assignment (4 marks) Excellent reflections on the insights gained from the individual assignment. Very good reflections on the insights gained from the individual assignment Good reflections on the insights gained from the individual assignment Reasonable reflections on the insights gained from the individual assignment Unable to present a proper reflection on the insights gained from the individual assignment Total Marks (10) /10
Answered Same DayJan 19, 2021HI5017

Answer To: To help with choosing the articles for the assignment, I suggest the following: 1. Choose a recent...

Vasudha answered on Feb 05 2021
124 Votes
Journal Article Critique
This report is the reflective analysis done on the two journals
Rao & Bargerstock (2011) and Woods et al. (2012).
I. Reflections on the selected two peer reviewed jou
rnal articles based on the assignment topics.
Standard costing is an estimation of the cost considering the pre-determined criteria. This may not be suitable for all kinds of business establishments. Each business functions in set of goals defined by their management and adopts under local conditions and environment. In this process, it may have to change the cost accordingly and incorporate the new cost to the product.
Standard cost is good way of estimating the cost, while formulating the budget. There are certain standards and protocol set while estimating and the same needs to be followed during the budget period. Standard cost is useful in the inventory costing, overhead cost application, product cost and more importantly for the master and departmental budget.
As standard cost is the managerial tool in determining the effectiveness and efficiency of the operation. These cost are determined before they occur and is compared with the actual, which may not be equal grounds for comparison. It might be challenge for the management to take decisions on such analysis. Standard costing comparison and analysis with the actual numbers, will not give desired results for new industries or organizations where processes still to be standardized.
Target costing and standard costing techniques although are designed to find the means of cost reduction, efficiency management; it takes considerable amount of time and cost in the implementation and the design stage, which small organizations and startup companies cannot afford and it also requires an element to adopt change from time to time, which again is a cost constraint.
II. Reflection on the research experience.
Research of a particular topic or a subject, takes to lot of...
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