Individual Reflective Journal Specifications managerial accounting HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION HI5017 MANAGERIAL ACCOUNTING

Individual Reflective Journal Specifications
managerial accounting

HOLMES INSTITUTE

FACULTY OF
HIGHER EDUCATION

HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL REFLECTIVE JOURNAL T2 2020

Assessment Details and Submission Guidelines
Trimester T2 2020
Unit Code HI5017
Unit Title Managerial Accounting
Assessment Type Individual Assignment
Assessment Title Reflective Journal
Purpose of the
assessment (with ULO
Mapping)

The purpose of this assessment is to ensure each student is able to provide a

critical reflection of their personal learning process, as experienced during this

unit (ULO 1).

Weight 10% of the total assessments
Total Marks 10
Word limit 1,000 words. Please use word count and include the word count in the

assignment cover page.
Due Date Week 11 Monday, 28 September at 11.59 p.m.

Submission
Guidelines

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 anothers work or
ideas into ones 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.

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HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL REFLECTIVE JOURNAL T2 2020

Individual Reflective Journal Specifications
Purpose:
The Individual Reflective Journal is to ensure each student is able to provide 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 any topics covered in the unit that interests you the most. Why was it interesting
and what did you learn from it?

2. Reflections on what you learned from the individual assignment, including the relevance of your
chosen costing system to businesses. What insights did you gain and what had you learnt from it?

3. Reflections on your overall research experience from the individual assignment (e.g. looking for
journal articles, reading and reviewing the literature etc.) What was enjoyable, what was difficult,
and any challenges you experienced?

Assignment Structure:
The reflective journal should include the following components:

a. Assignment Cover Page clearly stating your name and student number
b. Table of contents (optional)
c. A brief introduction or overview of what the assignment is about
d. Body of the assignment with the written answers
e. Conclusion

There is to be no references provided, as these are your own thoughts, insights and experiences.

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HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL REFLECTIVE JOURNAL T2 2020

Academic Integrity

Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral

to maintaining academic quality and the reputation of Holmes graduates. Accordingly, all assessment tasks

need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity

breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please

consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these

resources can also be found through the Study Sills link on Blackboard.

Academic Integrity breaches are a serious offence punishable by penalties that may range from deduction of

marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of

course enrolment.

Table 1: Six categories of Academic Integrity breaches

Plagiarism Reproducing the work of someone else without attribution. When

a student submits their own work on multiple occasions this is

known as self-plagiarism.

Collusion Working with one or more other individuals to complete an

assignment, in a way that is not authorised.

Copying Reproducing and submitting the work of another student, with or

without their knowledge. If a student fails to take reasonable

precautions to prevent their own original work from being copied,

this may also be considered an offence.

Impersonation Falsely presenting oneself, or engaging someone else to present as

oneself, in an in-person examination.

Contract cheating Contracting a third party to complete an assessment task,

generally in exchange for money or other manner of payment.

Data fabrication and

falsification

Manipulating or inventing data with the intent of supporting false

conclusions, including manipulating images.

Source: INQAAHE, 2020

Marking criteria:

Marking criteria Weighting

1. Reflections on any one topic covered in the unit. 4%

2. Reflections on what you learned from the individual assignment. 3%

3. Reflections on the research experience. 3%

TOTAL Weight 10%

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HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL REFLECTIVE JOURNAL T2 2020

Marking Rubric
Excellent Very Good Good Satisfactory Unsatisfactory

Reflections on any one
topic covered in the
unit (4 marks)

(3.6 4 marks)
Excellent
reflections on a
topic covered in
the unit.

(2.9 3.5marks)
Very good
reflections on a
topic covered in
the unit.

(2.1 2.8 marks)
Good reflections
on a topic
covered in the
unit.

(1.6 – 2 marks)
Reasonable
reflections on a
topic covered in
the unit.

(0 1.5 mark)
Unable to
present a
proper
reflection on a
topic covered in
the unit.

Reflections on what you
learned from the
individual assignment
(3 marks)

(2.1 3 marks)
Excellent
reflections on
the insights
gained from the
individual
assignment.

(1.9 – 2 marks)
Very good
reflections on
the insights
gained from the
individual
assignment

(1.6 1.8 marks)
Good reflections
on the insights
gained from the
individual
assignment

(1.1 1.5marks)
Reasonable
reflections on
the insights
gained from the
individual
assignment

(0 – 1 marks)
Unable to
present a
proper
reflection on
the insights
gained from the
individual
assignment

Reflections on the
research experience
(3 marks)

(2.1 3 marks)
Excellent
reflections on

the research
experience.

(1.9 – 2 marks)
Very good
reflections on

the research
experience.

(1.6 1.8 marks)
Good reflections

on the research
experience.

(1.1 1.5marks)
Reasonable
reflections on
the research
experience.

(0 – 1 marks)
Unable to
present a
proper
reflection on
the research
experience.

Total Marks (10) /10 Running head: MANAGERIAL ACCOUNTING 2

MANAGERIAL ACCOUNTING 2

Managerial accounting
Student name
Institutional affiliation
Submission date

Contents
Summary 3
Introduction 3
Part one 4
Answer to question 1 4
Features of ABC 5
Firm selected 6
RMS manufacturing 6
ALS limited 7
Part B 8
Activity based costing 9
Conclusion 11
References 12

Summary
There is need of the best in terms of the understanding that will be acquitted to the issues of the idea within the aspects of the manager getting to make the identification in term of the issues they are associated to the production within the production process. In this case acts of the best in term of the races is all geared at the allocation of the best in the idea of the issues he is within the cost of allocation of the best in the issues of the efficacy levels. The report that will be presented was there is an aim the seek to present the costing method which haves been on the rise to becoming more in terms of the issues of popularity as the day passes. (Accounting Tools , 2018). There is am method understood as costing in such that the ideas such the it has the aspects of being an activity-based costing method. To have better understanding of the concept that is need to understand the way in which the manger will apply the activity base costing method in addition to the manner by which applied to the effect actualized within an organization process. There will also be the application of two articles within the discussion. The report will also provide for the detailed analysis of the activity-based costing method that will be inclusive of aspects and the ideas of the major findings that will be seen from the two articles.

Introduction
Costing can be defined as the acts of the issues allocated to the ideas of the process by which there is the aspects of the estimation in term of ideas that have relationship to the idea of any product allocated within a set case. This is especially products that are within the platform of the idea of the cost the have been incurred within the process of getting to produce the product being presented inti the market share. There is need for the utilization of diverse aspect by the managers for the calculation of the process. This is in terms of the idea presented to the case.

Part one

Answer to question 1
In this case the system that has been chosen for the outface asset in the case is the ideas of the issues in line to the issue of the ABC system. This can be defined as the ideas in the platform of the activity-based costing systems. The future for the system is in line to eh aspects of the ideas within the issues of the aspects in a way such that they will have the idea of having feature such as:
Within the activity-based costing system there is more in term of the reputation that will be inspirited to the aspects of getting better and more accurate results within the methodology within the services as well as the aspects that have been presented into systems case. There is also an enhancement in terms of the acts associated to the ideology of getting into place the aspects and the issues along the platform of the cost drivers in addition to the overhead as well as making the expenses to be higher, as well as certain decision that will be in line to the issues that have been presented to the stated case. (Krumwiede & Charles, 2014) There is also an enhancement in term of the non-valuably within the scoring states and the activities that will become more visible as well as noticeable into the stated a needed platform presented to the case study.
Chosen firm within the Australian region are the examples of the aspects for the firms understood as ALS and RMS limited. There is a reason that made It suitable for an individual to choose the ABC. the crucial aspects inn this case is within the idea of undertaking the methodology that will allocate the solid in addition to the reliable data in associated to the data within diverse territorial aspects. An example of such is in deal with the case of the issues they will be within the aspects of the base upon and the creation within the client gatherings, item gathering and other issues.
The manager within the firms will be applying the idea within the ABC methodology in the costing information for the idea of getting into place the best in term of the decision-making process they will make it better for the information to be preened into the stated case. There will also be more in terms of levels of reliability that will be preset into the case, and the decision making the will make improvement within the communications and more reliability within the idea of making this to more useful. (Accounting Tools , 2018). They will be also need to make the aspects to become more in terms of the efficacy level that will be associated to the need ideologies.
Activity based costing can be define as the ideas within an ideologue that is associated to the issues of the costing methodology or systems that has the ability to get the assignment on term of the allocation that will be needed within the overhead cost in relation to the services or products presented into the stated case.

Features of ABC
The idea has two stages within the products costing system which has the ability to get the assignment of initials allocating that give the responsibility to the costs within the actions in addition to the after-math allocation of the assignment that give the basis for all the process with needed regulatory pace.
There is also the platform from which there will more in terms of the idea associated to the aspects of cost pooling within the two-stage method that will get the accumulation in term of the activity related costs. (Bescos, et al. 2013)
There will also be reference to the activities within a system case they have discrete task in which there will be more in term of the parted case such they will be the need to get better in undertaking the idea of delivery for the processing of the products.
ABC has basis upon the ideas and the concept that goods and product acts as consumers of product in addition to the activity associated to them within the stated case.
There is also the prescription to the idea in such a way that, there is utilization in term of the presented case such that, any organization will need the best better in terms of the overall understanding then will be adhered to the stated case within the presented case study.

Firm selected
RMS and ALS limited
Reason for suitability of the two choices
The chosen forms have been categorized within the manufacturing sectors in addition to the ABC costing systems assisting the firm to become more in term of the idea of being multidimensional. Within the present-day business, the firms executive happens with an environment that is dynamic and evolving with a stated speed case. (Accounting Coach, 2018) In this case hence there is need to have broad aptitude. There is also an indication that, there is need for the presence of the present items and tools which will play a role in assisting the individual to get better in terms of the outcome presented to the case. There is little expected to the result being in line to the aspects of getting result that are good for the assessment.

RMS manufacturing
This is an organization that has been more of a collaborative engineering in addition to the switch board. In this case the company is allocated in Melbourne, Australia.
There is need for the costing of the idea within the case time. This because this is a time in which there is complexity in the level of the assembling in the firm to have the ability to get better in term of the cost in the bookkeeping sections.

ALS limited
This is a manufacturing firm located within the city of Brisbane in Australia. There is provision for inspection, verification, testing as well as certification within more than 50 nations. The central undertaken within the stated case is t0 have the ability to get best in terms of the ability to get the best in term of the approaches that will allocate the bests in term of the solid and most reliable data that will be seen from several territories. Example of such include the ideas of deals upon and client gatherings.
ABC costing strategy can be stated to be issues of the technique that will be indirectly affected within the costs which will be doled out within the article and themes while at the same applying item within diverse and brad range of the drivers at their present cost. (Bescos, et al. 2013)There is also the present of expenses associated to the idea in a away such that they will be defined in way when they will be within the customary variable cost and the will be also book keeping within reason as to which there will be more in term of the generally doled out article.
Activity based costing is a tool that is associated to the supporting of the decision-making systems. Such have an impact within the strategies in the organization as well as there will more in term of the issues allocated and related to the aspects of affecting the ability with the FC of the fixed costs with the normalitys in serving the platform presented to the case. (Accounting Tools , 2018)
There are activities which serve as the ideas of the ideologies within the presented case such that there is more in term of the ideas in a way such that there is more to do the the form served in a basis the is charged with the allocation of costs. There are used with the presented case such that is more to within stated case such that will more along the issues the are along the aspects of decision-making plans. Suck will be as follows: within the RMS the manager will be applying the ideas within the ABC costing data and inflations while they will be undertaking their session making to get the best and most accurate produce costing in addition to elevation as well as improvement of the level of the profit in the case study,. There is also need for the best in term of the issues associated to the aspects of the improvement within the working environments in addition to the operation within the physical locations. Such assigns the manager the issues of making the best decision for the organization.
Within the LS, there is also utilization of the ABC technique by the manager in such a way they will be costing the organization to get an implementation of the information in regard to the reliance factors assisted to the acts of decision making. (Accounting Coach, 2018) There is also issues associated to the improvement in the communications that will be made to become more reliable into the need space, there will also be need to become more useful as well as understand within the greater efficacy levels.

Part B
There will be the utilization of two journals within the case to try and understand more in terms of the question that will be need to be answered within presented case study. The initial article within stated case is within the case of issues along he paces of getting support within claims in accordance to the activity-based costing method. The title for the first article in the acts of the idea of measuring efficiencies by produces group: which was outline within the year 2010. The other article for the study is understood as being the article of implication of ABC and the imprisonments of performance: the study if morocco central bank the was published in the year 2012.

Activity based costing
the ideas of purchases have not been same over a long time. This is to mean that, the ideas of the case are along the aspects of the idea such a way that, there has not been automatic within the times. In this ca ether was n inclusion of the idea of the labors within the exclusive aspects of the labors costs as well as the material costs within the stated case. Traditional methods in this case hence have been applied for the issues and ideologies of getting production process to be in a system which is not efficient process of production. However, this is a process which has been undergoing radical changes within the stated case presented to the aspects of the issues. New production process has had to undergo several changes within diverse ages in times. (Accounting Tools , 2018). There has been an outdating of the older costing methods in that there was the need for the presented case to meet the advance production process from better chances and production process. The outcomes of such an activity is the idea of the activity-based costing will be led to the power they will have the ability to address all the gaps within the traditional setting.
There was more in terms of the power within the activity-based systems to have the ability to meet the idea of the power which has ben addressed within diverse complexities which have been on the rise to become the defining feature within the presented day process of production with the stated case presented. In this case it is because of the aspect in such that, organization will be failing to earn the needed profit because of the lack in the ability to be performing in the best and most efficient manner and at the same time have the ability to get the management of the costs incurred into the platform affected. In this case there has been more failure from the organization such that, there has been an issue in the need for the organization to have the ability to overcome the expense that will be undergone within the diverse platforms. The experiences needed to be overcome will have been incurred in time then they will be the need to get the organization product into place.
There has been an aim which need to be attained within the introduction of the ideas of getting into place the issues of activity based system in a way such there will be need to have in costing methodology that will be in association to help needed for the better in terms of the identification as well as managing of the costs that are associated to the idea and the aspect of the production process in the scene. There is need to be aware of the cost identified within the stated case in the best manner. (Cost Accounting , 2018). Such will be the best when it comes to getting into pace the best management of the cost that are associated to the costs the process of production. Costs whichve been identified within the stated case are allocated the needed products they will be in regard to them. Activity system of costing has been seen to have the ability to apply the systems in relation to the aspects of the idea of indirect and direct costs. This is an idea which has had the ability to make do and get an enhancement in term of the issues associated to the analogy of the applicability within the activity-based costing method. This is one of the acts that, there will be more in terms of the areas they will be within the limitations in traditional costing methodology.
Firm that have been producing large variety of products will lack to get the understanding on the issue associated to the aspects of the cost with the products presented to the stated case. This is because of their production being traditional inn the costing methods. Under such situation then, the activity-based system will be of help within then companies that will be engaging in the production of several typologies of products. (Accounting Coach, 2018) Also there will be the activity associated to the idea of activity-based costing that will get the calculations of the cost using the activities usage basis presented to the stated cases.
ABC was implemented by following up several steps in accordance to the aspect of:
Identification of the functional areas that are within the production department, identification of the crucial actin involves within the production production process, indirect cost allocations, cost driver allocation. Allocation of cost using activities usage in the criteria and the final step will be the ideas of getting the aspects of elimination in tend of the unnecessary cost with the presented case study.
There was the activation of the diverse studies within presented study in the first oat. (Bescos, et al. 2013)The goals attained was in line ideas of the evaluation of the acts within the activity based costing in addition to the data environment within the middle east back, there is also the evaluation of the segregated effect within the activity based costing in addition to the data envelopment within the locale as well as the final event which is also the aspects of the evaluation in term of the effect in the activities based costing in addition to the data within the envelopment 0f the middle east bank.

Conclusion
From the study there is evidence that will be stated to mean the ideas which have been presented in relation to the costing methodology which are the traditional setting will no longer have the ability to meet the needed goals. There is lack inn the abilities to meet the needed production levels and activities from the stated cases. In this case hence there is need to get into play the best in terms of the implementation of the process that will be used to get the best in terms of the efficacy levels. In this case then there is a lack in the understand adheres to the ABC method that is chance of the organizational profits levels to be affected in the negative side. There is thus need for the best in terms of the organizational elevation activity to attain the best profit within the set market platforms.

References
Accounting Coach, 2018. What is the traditional method used in cost accounting? [Online] Available at: https://www.accountingcoach.com/blog/taditional-method-cost-accounting [Accessed 28 September 2018].
Accounting Tools , 2018. Traditional costing. [Online] Available at: https://www.accountingtools.com/articles/what-is-traditional-costing.html [Accessed 28 September 2018].
Bescos, P.-L. & Charaf, K., 2013. THE ADOPTION OF ABC AND THE IMPROVEMENT OF PERFORMANCE: THE CASE OF THE CENTRAL BANK OF MOROCCO. Cost Management, 27(4), pp.27-38.
Cost Accounting , 2018. Cost Accounting Methods. [Online] Available at: https://www.cost-accounting-info.com/cost-accounting-methods.html [Accessed 28 September 2018].

Krumwiede & Charles, 2014. The Use of Activity-based Costing with Competitive Strategies: Impact on Firm Performance. Running head: MANAGERIAL ACCOUNTING 2

MANAGERIAL ACCOUNTING 2

Managerial accounting
Student name
Institutional affiliation
Submission date

Contents
Summary 3
Introduction 3
Part one 4
Answer to question 1 4
Features of ABC 5
Firm selected 6
RMS manufacturing 6
ALS limited 7
Part B 8
Activity based costing 9
Conclusion 11
References 12

Summary
There is need of the best in terms of the understanding that will be acquitted to the issues of the idea within the aspects of the manager getting to make the identification in term of the issues they are associated to the production within the production process. In this case acts of the best in term of the races is all geared at the allocation of the best in the idea of the issues he is within the cost of allocation of the best in the issues of the efficacy levels. The report that will be presented was there is an aim the seek to present the costing method which haves been on the rise to becoming more in terms of the issues of popularity as the day passes. (Accounting Tools , 2018). There is am method understood as costing in such that the ideas such the it has the aspects of being an activity-based costing method. To have better understanding of the concept that is need to understand the way in which the manger will apply the activity base costing method in addition to the manner by which applied to the effect actualized within an organization process. There will also be the application of two articles within the discussion. The report will also provide for the detailed analysis of the activity-based costing method that will be inclusive of aspects and the ideas of the major findings that will be seen from the two articles.

Introduction
Costing can be defined as the acts of the issues allocated to the ideas of the process by which there is the aspects of the estimation in term of ideas that have relationship to the idea of any product allocated within a set case. This is especially products that are within the platform of the idea of the cost the have been incurred within the process of getting to produce the product being presented inti the market share. There is need for the utilization of diverse aspect by the managers for the calculation of the process. This is in terms of the idea presented to the case.

Part one

Answer to question 1
In this case the system that has been chosen for the outface asset in the case is the ideas of the issues in line to the issue of the ABC system. This can be defined as the ideas in the platform of the activity-based costing systems. The future for the system is in line to eh aspects of the ideas within the issues of the aspects in a way such that they will have the idea of having feature such as:
Within the activity-based costing system there is more in term of the reputation that will be inspirited to the aspects of getting better and more accurate results within the methodology within the services as well as the aspects that have been presented into systems case. There is also an enhancement in terms of the acts associated to the ideology of getting into place the aspects and the issues along the platform of the cost drivers in addition to the overhead as well as making the expenses to be higher, as well as certain decision that will be in line to the issues that have been presented to the stated case. (Krumwiede & Charles, 2014) There is also an enhancement in term of the non-valuably within the scoring states and the activities that will become more visible as well as noticeable into the stated a needed platform presented to the case study.
Chosen firm within the Australian region are the examples of the aspects for the firms understood as ALS and RMS limited. There is a reason that made It suitable for an individual to choose the ABC. the crucial aspects inn this case is within the idea of undertaking the methodology that will allocate the solid in addition to the reliable data in associated to the data within diverse territorial aspects. An example of such is in deal with the case of the issues they will be within the aspects of the base upon and the creation within the client gatherings, item gathering and other issues.
The manager within the firms will be applying the idea within the ABC methodology in the costing information for the idea of getting into place the best in term of the decision-making process they will make it better for the information to be preened into the stated case. There will also be more in terms of levels of reliability that will be preset into the case, and the decision making the will make improvement within the communications and more reliability within the idea of making this to more useful. (Accounting Tools , 2018). They will be also need to make the aspects to become more in terms of the efficacy level that will be associated to the need ideologies.
Activity based costing can be define as the ideas within an ideologue that is associated to the issues of the costing methodology or systems that has the ability to get the assignment on term of the allocation that will be needed within the overhead cost in relation to the services or products presented into the stated case.

Features of ABC
The idea has two stages within the products costing system which has the ability to get the assignment of initials allocating that give the responsibility to the costs within the actions in addition to the after-math allocation of the assignment that give the basis for all the process with needed regulatory pace.
There is also the platform from which there will more in terms of the idea associated to the aspects of cost pooling within the two-stage method that will get the accumulation in term of the activity related costs. (Bescos, et al. 2013)
There will also be reference to the activities within a system case they have discrete task in which there will be more in term of the parted case such they will be the need to get better in undertaking the idea of delivery for the processing of the products.
ABC has basis upon the ideas and the concept that goods and product acts as consumers of product in addition to the activity associated to them within the stated case.
There is also the prescription to the idea in such a way that, there is utilization in term of the presented case such that, any organization will need the best better in terms of the overall understanding then will be adhered to the stated case within the presented case study.

Firm selected
RMS and ALS limited
Reason for suitability of the two choices
The chosen forms have been categorized within the manufacturing sectors in addition to the ABC costing systems assisting the firm to become more in term of the idea of being multidimensional. Within the present-day business, the firms executive happens with an environment that is dynamic and evolving with a stated speed case. (Accounting Coach, 2018) In this case hence there is need to