ACC101A UTS Significance and Components of Master Budget Research Paper

ACC101A UTS Significance and Components of Master Budget Research Paper
Subject Title
Financial and Commercial Literacy
Subject Code
ACC101A
Assessment Title
Budget Report
Graduate Capabilities
List the graduate capabilities being developed in this assessment
GC1 – Professional Expertise
GC3 – Innovative Problem Solving
GC6 – Independent self-management
GC7 – Technology and information literacy
Learning Outcome/s (found
in the Subject Outline)
Assessment type (group or
individual)
a. Identify the terminology and concepts that underlie the preparation of
general-purpose financial reports
b. Summarise financial statements to support business decision making
c. Explain the information needs of management
d. Compare the various components of budgets
Individual
Weighting %
40%
Word count / Time limit
1,000 – 1,500 words
Due day
Week 10 Sunday 11:55pm
Submission type
Turnitin ☒
Format / Layout of
Assessment
Report:
Assessment instructions
ICMS Cover Page

Table of Contents

Introduction

Body

Conclusion

Reference List

The success of a business is often dependent on its ability to effectively manage
its Master budget. The Master budget is a collection of interrelated budgets, each
related to one or more business units of the organisation. The performance of
each business unit manager is thereby influenced by their budget/s.
Your task is to write a report on the significance of the Master budget on the
success of a business. As part of your report, you are required to explain:
1. THREE (3) of the budgets of the Master Budget (one of them being the
Cash Budget) and how they relate to each other. (400 – 600 words)
2. TWO (2) business units (i.e. departments within a business) and how their
manager’s performance is affected (i.e. judged or gauged) by at least ONE
of the budgets mentioned above. (300 – 500 words)
3. How adherence to the budget affects the business’ overall profitability.
(i.e. how and why budgeting in business is important). (100-200 words).
Readings for the assessment
In addition to an introduction and conclusion (100 words each), your report should
be between 1,000 and 1,500 words. You are also required to use in-text
referencing and a reference list using APA referencing.
Refer to your resources for Topics 7 – 10.
Grading Criteria / Rubric
Please refer to the table provided below:
Assessment 4 – Marking Rubric
HD
D
CR
PASS
FAIL
(85-100)
(75-84)
(65-74)
(50-64)
(0-49)
Understanding and Demonstrates outstanding Demonstrates very good Demonstrates sound
Demonstrates
Demonstrates an unsatisfactory
comparison of the understanding of three (3) understanding of three understanding of three satisfactory
understanding of the budgets of
budgets of an
key budgets of an
(3) key budgets of an
(3) key budgets of an understanding of three an organization, with poor or no
organisation (30%) organization, with
organization, with good organization, with
(3) key budgets of an
comparisons made between
excellent comparisons
comparisons made.
reasonable comparisons organization, with some them.
made.
made.
comparisons made OR
demonstrates very good
understanding of two (2)
key budgets of an
organization, with good
comparisons made.
Explanation of the Provides a comprehensive Provides a strong
Provides a good
Provides an explanation Provides a poor and/or limited
implications on the explanation of the
explanation of the
explanation of the
of the implications of
explanation of how business unit
performance of
implications of budgets implications of budgets implications of budgets budgets on at least one managers are affected by
business unit
on two (2) business unit on two (2) business unit on business unit
business unit manager. budgets.
managers (30%)
manager with examples manager with examples managers with an
strongly demonstrating demonstrating the effect example demonstrating
the effect on their
on their performance. the effect on their
performance.
performance.
Discussing the
Concisely discusses the Discusses the impact of Concisely discusses the Concisely discusses the Poorly discusses the impact of
effect of the budget impact of the budget on the budget on the
impact of the budget on impact of the budget on the budget on the business’
on the business’
the business’ overall
business’ overall
the business’ overall
the business’ overall
profits with unsatisfactory and/or
overall profitability profitability with
profitability with very profitability with good profitability with
limited observations.
(20%)
excellent observations. good observations.
observations.
satisfactory observations,
Report structure Terrific structure that
Very good structure that Sound structure that
Some structure that
Poor structure that does not
(20%)
includes all sections
includes
all
sections
includes
most
sections
provide all sections required. A
includes all sections
required and the report in required and the report required and the report required and the report in significant amount of spelling
general has an
in general has a
general mostly accurate and grammar errors, and poor
in general has a good
outstanding flow, perfect
reasonable flow, mostly spelling and grammar, flow in general. Referencing is
flow, spelling and
spelling and grammar,
accurate spelling and and referencing. Flow is either not included or poorly
Criteria
and accurate referencing.
grammar, and
referencing.
good in sections, but not executed.
grammar, and accurate
referencing.
so in the report in
general.

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