ACC220 MANAGERIAL ACCOUNTING – SPRING TERM, 2021
GROUP HOMEWORK 1 (DUE: 19
th of February, Friday, 23:59)
GENERAL GUIDELINES:
– It is group assignment (maximum of 5 students per team). Hence, it is important
that students provide a complete and coherent work as one assignment.
– Any materials based on different source (i.e textbook, academic articles, newspapers
etc) should be clearly reference and bibliography provided. Students should aim to
write their own understanding and interpretation.
– All questions should be answered in full. If you miss any question, it can significantly
impact your overall mark.
For questions requiring only discussion (Q1 –Q3): 40%
– Students are expected to clearly explain their answers and provide a reasonable
discussion. Students should aim to write their own understanding and interpretation.
– Maximum length: Up to 600 words is expected for each 15-mark question. Up to
200 words is expected for each 5-mark question.
For questions with emphasis on calculations (Q4- Q9): 60%
– Students are expected to clearly explain their answers and cover each part of the
requirement in detail.
– All calculations and full workings should be clearly presented.
– Any assumptions made should be clearly written to support your workings.
Q1 & Q2: Answer two out three questions below. Kindly note that you should only
answer two questions!
Option 1: Critically discuss the role of management accounting for managers in key areas
decision making and how its role is changing in 21st century in managing and running a
company. (15 marks)
Note: It is expected that students actively use external sources such as latest reports,
academic and business articles, books, news etc. Minimum 8 sources for each
question. You are also encouraged to use company examples to support the discussion.
Option 2: Critically discuss the role of ethics, environment and sustainability for a
business and their implications on company performance and strategy. (15 marks)
Note: It is expected that students actively use external sources such as latest reports,
academic and business articles, books, news etc. Minimum 8 sources for each
question. You are also encouraged to use company examples to support the discussion.
Option 3: Critically discuss the impact of AI (artificial intelligence), machine learning,
automation, smart systems and blockchain on the industries and their wider implications on a
society. (15 marks)
Note: It is expected that students actively use external sources such as latest reports,
academic and business articles, books, news etc. Minimum 8 sources for each
question. You are also encouraged to use company examples to support the discussion.
Q3:
3.1 Explain the key concepts of opportunity cost, sunk cost, committed cost and sunk cost
fallacy in the context of relevant costing and decision making. Why should a business
take relevant cost into account as part of business decisions? Support the discussion
with examples. (5 marks)
3.2 Define terms fixed cost and variable costs. Explain how an understanding of the
distinction between them can be useful for managers in decision making in areas of BEP
and operating gearing. Support the discussion with examples (5 marks)
Q4 – Q9:
To be uploaded as a separate file “Group Homework 1 – Part 2 -Calculation Questions
only
