Cost Accounting– BUSS 1602 – Fall -2018 – CW2–QP Individual Assignment- Fall 2018 Module: Cost Accounting (BUSS 1602) Max. Marks: 100 (Weightage 20%) Level: 5 Duration: 4 weeks Outcomes Assessed: 1. Apply accounting techniques related to inventory, labour, and overheads. 2. Use different costing techniques such as marginal, absorption, job and batch costing Instructions to the Students: 1. Answer all questions. 2. Assignment should be completed individually and not in groups. 3. This assessment would be weighted to 20% towards the final marks. 4. The report should have a table of contents, answers to the questions and appropriate references. 5. Use Harvard style of referencing to do this assignment. 6. The report must have a cover page indicating the module title, name of student, name of faculty and date of submission. 7. The report should be done in Word, font size 12, font style Times New Roman, text color black, colors can be used ONLY in appendices, if required. 8. As per MEC policy, any form of violation of academic integrity will invite penalty. Plagiarized documents, in part or in whole, submitted by the students will be subject to this policy. (Refer Plagiarism Policy in detail in Page 2) 9. Assessment is subject to MEC viva policy. 10. Total number of words to be used to complete this assignment should be 1800. 11. Late submission shall be penalized as per the norms of MEC mentioned in the Module Information Guide. Penalty for late submission - 5% of the maximum mark specified for the assessment is to be deducted for each working day for a maximum of one week. BUSS 1602 (QP) Page 1 of 6 Cost Accounting– BUSS 1602 – Fall -2018 – CW2–QP MEC Plagiarism Policy A. First offence of plagiarism a) A student will be allowed to re-submit the assignment once, within a maximum period of one week. However, a penalty of deduction of 25% of the marks obtained for the resubmitted work will be imposed. b) Mark deduction: When the work is resubmitted, the marking will be undertaken according to the marking criteria. In compliance with this policy, the 25% deduction is then made on the marks obtained. For example, in an assessment that carries a maximum of 50 marks, suppose a student were to obtain 30 marks for the resubmitted work, the final marks for that assessment will be 22.5 (after deducting 25% of the marks actually obtained for the resubmitted work). c) Period of resubmission: The student will have to resubmit the work one week from the date he or she is advised to resubmit. For example, if the formal advice to resubmit was communicated to the student on a Sunday (latest by 5 pm), the student will have to resubmit the work latest by next Sunday 5 pm d) If the re-submitted work is also detected to be plagiarized, then the work will be awarded a zero. e) Resubmission of the work beyond the maximum period of one week will not be accepted and the work will be awarded a zero. B. Repeated Offence of Plagiarism Any further offence of plagiarism If any student is again caught in an act of plagiarism during his/her course of study (either in the same module, same semester or in any other semester), the student will directly be awarded zero for the work in which plagiarism is detected. In such cases, the student will not be allowed to re-submit the work. C. Guidelines a) Type 1: In case plagiarism is detected in any component or part submission (submitted at different times) of one assessment (assignment), the deduction in marks will be applicable for the whole assessment (assignment), even if only the component or part submission alone needs to be resubmitted. b) Type 2: In case plagiarism is detected in a group assessment, all students of the group will be considered as having committed an act of plagiarism irrespective of whether plagiarism is on account of the act of all or a few or only one member. The policy will then be applied to all students. c) Type 3: (Combination of Type 1 and Type 2) In case plagiarism is detected in any component or part submission (submitted at different times) of a group assessment (assignment), the deduction in marks will be applicable for the whole assessment (assignment), even if only the component or part submission alone needs to be resubmitted. All students of the group would be considered as having committed an act of plagiarism irrespective of whether plagiarism is on account of the act of all or a few or only one member. The policy will then be applied to all the students of the group. 3 d) Type 4: (Variation of Type 1 and Type 2) In cases where the assessment consists of components or part submissions that could be a group assessment component (e.g. group assignment) and an individual assessment component (e.g. individual reflection), the following will be applicable: 1. If plagiarism is detected in the group assessment component, all students of the group will be considered as having committed an act of plagiarism, irrespective of whether plagiarism is on account of the act of all or a few or only one member. The policy will then be applied to all students of the group. In such cases the group assessment component will be resubmitted as per the policy. 2. If plagiarism is detected in the individual assessment component, the individual assessment component will be resubmitted as per the policy. The policy will then be applied to that student alone. BUSS 1602 (QP) Page 2 of 6 Cost Accounting– BUSS 1602 – Fall -2018 – CW2–QP 3. In both cases (a) and/or (b), the deduction in marks will be applicable for the whole assessment (assignment). D. Amount of similar material a) The total amount of similar material in any form of student work from all sources put together should not exceed 30% (including direct quotations). b) The total amount of quoted material (direct quotations) in any form of student work from all sources put together should not exceed 10%. c) The total amount of similar material in any form of student work from a single source should not exceed 7 percent. However, cases having a similarity of less than 7 percent in such cases may still be investigated by the faculty depending on the seriousness of the case. d) If faculty member find enough merit in the case of a student work with a similarity (with a single source) of more than 7 percent as not a case of plagiarism, the faculty member should provide detailed comments/remarks to justify the case. Assessment Grading Criteria 90-100% Outstanding 80-89% Excellent 70-79% Very good 60-69% Good 50-59% Competent 40-49% Basic 30-39% Retrievable fail BUSS 1602 (QP) Exceptionally detailed and original response to the assignment, with critical use of independently sourced contextual material. Outstanding demonstration of linked understanding of relevant theory, concepts and models. Extremely well structured with high level of analysis. No obvious errors in referencing or grammar or syntax as appropriate. Very full, independent response to the assignment with totally relevant material which is well beyond any module input, demonstrating independent study. Excellent understanding of relevant theory, concepts and models. Very clear logical structure. Very few errors in referencing or grammar or syntax as appropriate. Full response to the assignment with all content relevant and focused. Very good understanding of relevant theory, concepts and models. Application of appropriate theory to examples/practice, demonstrating a rigorous approach to a variety of ideas, contexts and frameworks. Few errors in referencing or grammar or syntax as appropriate. Answers most if not all detailed aspects of the question. Content mainly relevant. Good k nowledge and understanding of relevant theory and concepts and application of theoreti cal models. Evidence of a developing appreciation of contextual issues. Some small repeated errors in referencing or grammar or syntax as appropriate Main issues addressed and solid attempt to answer question. Some relevant content applied. Sound knowledge and understanding of relevant theory and concepts and identification of main issues Some repeated errors in referencing or grammar or syntax as appropriate. Satisfactory attempt to address question/issues with some content relevant to assignment topic. Material engages with relevant module materials, but large ly repeats taught input and lacks development or personal interpretation. Some general understanding of topic theory and concepts. Lacks coherence. Some learning outcomes and / or assessment criteria not met. Questions not answered fully. Content not wholly relevant. Little or no evidence of under standing of relevant theory. Very repetitive of taught input – no development or application. The use of extensive quoted passages evident. Page 3 of 6 Cost Accounting– BUSS 1602 – Fall -2018 – CW2–QP Evidence of sufficient grasp of learning outcomes to suggest that the participant will be able to retrieve the module on resubmis sion. 20-29% No learning outcomes fully met. Little attempt to engage with the module materials or id eas. 10-19% Little attempt to engage with assignment brief and has not met learning outcomes. Inade quate demonstration of knowledge or understanding of key concepts, theories or practice. 0-9% No real attempt to address the assignment brief or learning outcomes BUSS 1602 (QP) Page 4 of 6 Cost Accounting– BUSS 1602 – Fall -2018 – CW2–QP Assignment Task You are required to select a manufacturing business based in Oman, collect the below mentioned information, analyse them wherever required and submit a report. 1. General description of the chosen company (History, nature of the business and why you have chosen this firm/company for your study etc) (5 Marks) 2. Identify the manufacturing and non-manufacturing overheads of the company. (15Marks) 3. a. Inquire the method of overheads allocation used by the chosen company and b. Summarise reasons for selection of the method. c. Critically evaluate the method based on its merits and demerits. (5marks) (15 Marks) (10 Marks) 4. Comment on the techniques used in the company related to: a. Inventory Accounting b. Labour Accounting (10Marks) (10 Marks) 5. a. Identify type of costing techniques used at this company and b. Critically evaluate the effectiveness/ suitability of this technique. (10 Marks) (10 Marks) (Writing, referencing and formatting will be awarded a maximum of 10 Marks) BUSS 1602 (QP) Page 5 of 6 Cost Accounting– BUSS 1602 – Fall -2018 – CW2–QP Further Guidelines for completing this assignment: 1. Students are expected to write a general description of the company (in detail) which should include, but not limited to : a) History of the Company b) Nature of business it is in c) Why chose this Business 2. Students are expected to visit the company and collect information about the below and make a report: a) Manufacturing overheads of the company and b) Non-manufacturing overheads of the company and c) Explain them in details; Why you believe they are Manufacturing & Non-manufacturing overheads, for the selected company Students are expected to write why do they believe those are Manufacturing & Non-manufacturing overheads, for the selected company 3. Students are also expected to know the a) Method of overhead allocation used by the company and b) Reasons why the company has selected that specific method. c) Finally critically evaluate the method using with a detailed account of its merits and demerits. 4. Find out the below used in the chosen company a) Accounting techniques related to inventory and Comment/explain b) Accounting techniques related to labour and Comment/explain 5. You visit the company and the factory manager to a) Identify type of costing techniques used at this company and b) Then critically evaluate the effectiveness/ suitability of this technique by yourself. c) Give your reasons for that 6. Students should note that Clear Writing, Referencing and formatting will be awarded another 10 Marks for this assignment. 7. Total number of words should not exceed 1800. BUSS 1602 (QP) Page 6 of 6