Developing your understanding of the purpose and use of management accounting systems, and its…

Individual Assignment SpecificationsPurpose:This assignment aims at developing your understanding of the purpose and use of management accountingsystems, and its usefulness in aiding managers make informed decisions. You are to critically evaluate theliterature (using journal articles) to analyse the practical use of management accounting systems bycontemporary companies, in terms of their relevance to thedecision-making by managers and achievementof business goals.Assignment Task:Journal Article Critique (30 Marks)You are required to conduct a literature search and discussion in this assignment.You are to choose apeer reviewed journal article (from any country) on the:-Use of Budgeting as a management techniquefor managing resources.The articleshould be published between 2010–2020. Choose your articleonly after you have accessedseveral relevant articles, and then choose the best articles that will answer the assignment question below. Required:Critically evaluate the relevanceand challengesof budgetingsystems by answering the 5 questionsbelow:Questions:1.Briefly discuss thebudgeting process. (5 marks)2.Based on yourselectedjournalarticle, discussciting exampleswhether thebudgeting processsatisfiesthe purpose ofplanning,controlling and evaluating performance.(5 marks)3.The twowidely used practices in preparingbudgets are ‘top down’ budgeting and ‘bottom up’budgeting.Identify and explain the practice adopted by the organisationdiscussed in yourselectedjournal article and further explain the behavioural implicationsof adopted practice.(5 marks)4.Based on your literature findings (above),critically evaluate the commentthat‘traditional budgetingpractices are constraint on creativity, and the time and energy spent on budget formulation is betterspent elsewhere’.5.Based on your literature findings (above),would you recommendbudgetingfor contemporaryorganisationsfor planning andcontrol purpose? Explain (5 marks)Additional Information:a)You are encouraged to choose the journal article from the following Accounting and ManagementAccounting Journals: Accounting, Auditing and Accountability Journal;

 

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