FIN401 FINANCIAL & MANAGEMENT ACCOUNTING

FIN401 FINANCIAL & MANAGEMENT ACCOUNTING
SUMMATIVE GROUP BUSINESS ASSIGNMENT (50%)
DATE DUE: 6
th May 2022 @ 23:59pm
GENERAL INSTRUCTIONS TO CANDIDATES:
The paper is expected to be not more than 2000 words and the deadline is 6
th May 2022. Please do
ensure that the submission is typed (handwritten assignments will not be allowed). Make sure that
the name of your group members and ID Numbers are on the assignment. This assignment
constitutes 50% of your overall mark for this module.
It is recommended that you use Times New Roman, Font size 12 and double space. This is just a
recommendation
INTENDED LEARNING OUTCOMES
Knowledge and understanding
Demonstrate a broad understanding of the knowledge base of the selected pathway specialisation
and its terminology; appreciate that areas of this knowledge base are open to ongoing debate and
reformulation.
Skills
Work collaboratively and effectively with others and recognises the factors that affect team
performance. Demonstrate self-awareness, values and self-leadership through planning and
reflection.
Budgeting Group Coursework
Scenario
Your team of five students (in seminar) are planning to start up your own business venture, making
and marketing a single product using at least two types of both materials & labour; however, as you
only have £100,000 in cash personally to use towards this, you will need to prepare a summary
business plan and supporting budgets in order to raise the additional finance required to meet your
budgeted operations. You may assume that you can apply for the funds needed from a bank at their
prevailing market interest rate.
Your team must initially submit a proposal via email by 28th February 2022 with the names of
members of your group otherwise you will be allocated groups.
A major task involves drawing up the following budgets for one year to resource your proposed
activities and to persuade potential lenders to contribute finance to your business venture:
1. Table of Assumptions – Any and all assumptions made in estimating figures must be
researched, referenced, reasonable & clearly stated in this table
2. Budgeted Contribution Statement, Total contribution & C/S ratio
3. Capital Expenditure (Fixed Assets) Budget
4. Sales Budget
5. Production Budget
6. Purchases
7. Direct Labour Budget
8. Overheads Budget
9. Cash Budget
**It is Imperative that budgets 4 – 9 include a total column for the 12 – months**
10. Budgeted (Annual) Income Statement
11. Budgeted (Annual) Balance Sheet
12. Calculations showing the Break-Even Point in units, £ of sales & percentage
13. Calculations showing the Margin of Safety in units, £ of sales & percentage
• You must use spreadsheets in Appendices with formulae correctly applied for each
of the budgets 2 – 13 above
Other Instructions
• Your groups’ names, your seminar tutor’s name & module code must appear on your cover
page
• Indicate your names in the section each member of the group produced.
• Your business plan must be word processed and spell checked, showing the word count, with
a maximum of 2,000 words, excluding Appendices
• Your group assignment in words, excel spreadsheets and individual reflections must be
submitted through Blackboard by Friday 6
th May 2022 before 23:59hrs, clearly labelled with
your groups’ names.
Note there are penalties for late submission which will reduce your marks
Mark Allocation Guide
1. Proposal 5%
2. Table of Assumptions based on GAAP, research & business acumen 5%
3. Budgeted Contribution Statement Total contribution & C/S ratio 5%
4. Capital Expenditure Budget 5%
5. Sales Budget 4%
6. Production Budget 4%
7. Purchases Budget 6%
8. Direct Labour Budget 4%
9. Cash Budget 10%
10. Budgeted Annual Income Statement 10%
11. Budgeted Annual Balance Sheet 10%
12. & 13. Break-Even & Margin of Safety calculations 5%
14. Quality of Presentation and the use of Spreadsheet Formulae 4%
15. Consistency of the Inter-relationships between all Budgets 4%
16. Word count/Referencing/academic & research-based Bibliography 4%

17. Individually, you will write to maximum of 500 words on your
personal experience of participating in this coursework and the area
of the work you did – difficulties encountered and your learning 15%
TOTAL 100%
For each of the components above, the maximum mark will only be awarded if all of your calculations
are consistent, complete, accurate & appropriately presented.
Please also refer to the further guidance posted to Blackboard. Advice & guidance tutorials are always
available, just ask via email.
Common Assessment Scale
The scale consists of eight different numeric bands (0-8) with their matching descriptors of students’
performance. In order to award a final mark, first a numeric band will be given to the assessed piece,
according to the descriptors that suit each piece of work. After this process, and following the
conversion table below, academics will decide the most suitable percentage within the range
proposed for the band awarded.
Bands Generic descriptors
8
(90-100%)
• All learning outcomes and task specifications have been achieved to an exceptionally high standard
(according to the level of study).
• The outcome of the assessment task is presentable in a professional context and may extend practical or
theoretical knowledge in the field. It displays an exceptionally high level of understanding, evaluation,
insight, analysis, reflection and/or criticality (according to the level of study), and connections are
developed both within and beyond the task set.
• The work’s organisation, structure and presentation are developed to an exceptionally high standard.
7
(80-89%)
• All learning outcomes and task specifications have been achieved to an outstanding standard (according
to the level of study).
• The outcome of the assessment demonstrates an outstanding display of understanding, exploration,
evaluation, insight, analysis, reflection, criticality and/or research (according to the level of study).
Connections are developed both within and beyond the task set.
• The work’s organisation, structure and presentation are developed to an outstanding standard.
6
(70-79%)
• All learning outcomes and task specifications have been achieved to high standard (according to the level
of study).
• The outcome of the assessment demonstrates an excellent display of understanding, exploration,
evaluation, insight analysis, reflection, criticality and/or research (according to the level of study), and
connections are developed both within and beyond the task set.
• The work’s organisation, structure and presentation may be developed to an excellent standard.
5
(60-69%)
• All learning outcomes have been achieved at a good and some to a very good standard (according to the
level of study).
• The outcome of the assessment demonstrates a very good level of understanding, exploration,
evaluation, analysis, reflection, criticality, some insight and/or very good research (according to the level
of study), and connections are established within the task set, and in some cases reaching beyond.
• The work’s organisation, structure and presentation may be developed to a very good standard.
4
(50-59%)
• Most learning outcomes have been met at a good standard (according to the level of study).
• The outcome of the assessment demonstrates a good understanding, exploration, evaluation, analysis,
and some reflection, criticality and/or appropriate research. (According to the level of study)
• The work’s organisation, structure and presentation may be appropriately developed.
3
(40-49%)
• All learning outcomes have been met to a minimum satisfactory standard (according to the level of
study).
• The outcome of the assessment shows an adequate understanding, of major ideas, with little insight and
basic research. Limited level of analysis, reflection and/or criticality (according to the level of study).
• The outcome of the task shows ability to paraphrase concepts and theories, with limited ability to make
connections.
• The work may be disorganised, and the structure and presentation may be barely adequate.
2
(30-39%)
• Most learning outcomes have almost been met, whilst the rest have not (according to the level of study).
• The outcome of the assessment shows a limited understanding of major ideas, with little insight, very
basic research, and very limited ability to make connections. No analysis, reflection and/or criticality
(according to the level of study)
• The work may be disorganised, and the structure and presentation may be barely adequate.
1
(11-29%)
• The majority of the learning outcomes have not been met (according to the Level). The outcome of the
assessment task is incomplete, flawed, very limited and/or presents significant inaccuracies.
• The outcome of the assessment shows very limited understanding with no insight, and very limited
ability to make connections within basic ideas in the field, very fragmented. Lacks research. No analysis,
reflection or criticality (according to the level of study)
• The work is disorganised, and unstructured. Presentation is barely adequate.
0
(0-10%)
• None of the learning outcomes have been met. The task has not been addressed by the student, or there
is no assessable task.
• The outcome of the assessment shows no understanding of basic ideas, with no insight and shows no
ability to make connections within basic ideas in the field, or the connections are completely irrelevant.
Lacks research. No understanding, analysis, reflection nor criticality.
• The work completely lacks organisation and structure. Presentation is completely inadequate