Assignment/Coursework Remit
Programme Title BSc Accounting & Finance, BSc Money Banking & Finance
Module Title Decision Making and Control
Module Code 32181
Assignment Title Supplementary Individual Coursework Assignment
Level LC
Weighting 40%
Hand Out Date 8
th July 2024
Deadline Date & Time 8th August 2024 12pm
Feedback Post Date TBC
Assignment Format Essay
Assignment Length 1750 words
Submission Format Online Team
Assignment:
Detail of the tasks that students are expected to complete as part of the assignment remit.
Module Learning Outcomes:
In this assessment the following learning outcomes will be covered :
LO 1. Explain the main concepts of management accounting and business analytics and the context in which they operate
LO 3. Apply the basic concepts, techniques and practices of business analytics and management accounting, to solve structured problems in managing organisations
LO 5. Discuss the use of management accounting and other information in organisational management and the strengths of varying approaches
LO 6. Assess the potential of analytic techniques in addressing business issues LO 7. Identify and apply a range of analytical techniques to business cases
Grading Criteria:
Grading criteria must be included, ideally a marking rubric should be attached at the end.
Feedback to Students:
Both Summative and Formative feedback is given to encourage students to reflect on their learning that feed forward into following assessment tasks. The preparation for all
assessment tasks will be supported by formative feedback within the tutorials/seminars. Written feedback is provided as appropriate. Please be aware to use the browser and not the Canvas App as you may not be able to view all comments.
Plagiarism:
It is your responsibility to ensure that you understand correct referencing practices. You are expected to use appropriate references and keep carefully detailed notes of all your information sources, including any material downloaded from the Internet. It is your responsibility to ensure that you are not vulnerable to any alleged breaches of the assessment regulations. More information is available at
https://intranet.birmingham.ac.uk/as/registry/policy/conduct/plagiarism/index.aspx .
Use of Generative AI:
Unless explicitly stated otherwise, students should assume that the use of generative AI
within an assessment or assignment is not permitted. Any assessment submitted that is not a student’s own work, including that written by generative AI tools, are in breach of the
University’s Code of Practice on Academic Integrity
(https://intranet.birmingham.ac.uk/as/registry/policy/conduct/plagiarism/index.aspx
Wellbeing Extenuating Circumstances:
The process for Extenuating Circumstances is to support students who have experienced
unforeseen issues that have impacted their ability to engage with their studies and/or
complete assessments. Students should notify Wellbeing of any extenuating circumstances as soon as possible via the online form, following the guidance provided.
https://intranet.birmingham.ac.uk/social-sciences/college-services/wellbeing/index.aspx
Decision Making and Control 2023-24
07 31281
Supplementary Individual Coursework Assignment (40%)
Mangrove Ltd is a toy company based in the UK for which the demand is influenced by changes in technology. Therefore, the company continually reviews the product lifecycles to survive in the competitive environment that it operates. The production manager has designed the manufacturing facilities in such away that it is able to produce all products on the same equipment and use the same multi-skilled workforce. Management estimate that the annual production capacity of the company is equivalent to a turnover value of £30m.
The turnover figures (actual and forecast) are shown below for each of products: ToyA, Toy B and Toy C from the beginning of the life cycle of each product up to 2023, which are the only products for which Mangrove Ltd has sales for the years 2018-2026 (actual or forecast). There are no other plans to introduce other product lines at this stage.
Sales Revenue (£million) – actual (A) or forecast (F)
Product 2018 A 2019 A 2020 A 2021 A 2022 A 2023 A 2024 F 2025 F 2026 F
Toy A 3.0 6.0 9.0 10.5 6.75 4.5 3.0 2.25 nil
Toy B nil nil 4.5 9.0 12.0 13.5 4.5 1.5 nil
Toy C nil nil nil 6.0 7.5 9.75 11.25 12.0 10.5
Sales Volume in Units (‘000) – actual (A) or forecast (F)
Product 2018 A 2019 A 2020 A 2021 A 2022 A 2023 A 2024 F 2025 F 2026 F
Toy A 150 240 300 300 270 225 200 150 nil
Toy B nil nil 125 160 240 300 180 96 nil
Toy C nil nil nil 400 600 780 1000 1200 1000
Other relevant actual and forecasted information relating to the products for the years 2018-2026 areas follows:
1. Profit-volume ratios for each product are expected to be: Toy A (70%); Toy B (75%) and Toy C (60%).
2. The company’s general fixed costs per year are £3.75m, which are equally
distributed to each toy. In addition, product specific fixed costs are estimated as follows:
|
|
2018 £m
|
2019 £m
|
2020 £m
|
2021 £m
|
2022 to 2026 £m
|
|
Toy A
|
1.8
|
1.8
|
1.8
|
1.8
|
2.0
|
|
Toy B
|
-
|
-
|
2.0
|
4.0
|
4.0
|
|
Toy C
|
-
|
-
|
-
|
3.2
|
3.2
|
Current Retail Price for Similar Equivalent Product in the UK Toy Market (£)
|
Product/Brand
|
Lego
|
Yotto
|
Brio
|
Lottie
|
Melissa & Doug
|
|
Toy A
|
19.99
|
21.50
|
18.71
|
-
|
-
|
|
Toy B
|
44.00
|
35.99
|
89.99
|
69.99
|
58.17
|
|
Toy C
|
75.00
|
-
|
29.90
|
-
|
-
|
Annual Demands of Toys in UK* (million units) - actual (A) or forecast (F)
|
Product
|
2018 A
|
2019 A
|
2020 A
|
2021 A
|
2022 A
|
2023 A
|
2024 F
|
2025 F
|
2026 F
|
|
Toy A
|
5.76
|
5.85
|
6.67
|
6.72
|
7.26
|
7.54
|
7.78
|
7.91
|
8.38
|
|
Toy B
|
2.24
|
2.36
|
2.61
|
2.78
|
3.26
|
3.55
|
3.72
|
3.91
|
4.05
|
|
Toy C
|
4.55
|
4.82
|
5.13
|
5.36
|
5.54
|
5.71
|
5.92
|
6.11
|
6.28
|
Note: The annual demand refers to all toy manufacturers in the UK
Required
Write a 1750-word individual essay, addressing the following information:
1. Use proper data visualisation tools to visualise the following:
1) Total revenue, total contribution, total profit and total fixed costs for all of Mangrove Ltd’sproducts during 2018-2026.
2) The life cycle pattern for each of Mangrove Ltd’s products expressed in terms of total contribution (£m) during 2018-2026.
NB: You are expected to a report using proper data visualisation tools, showing the overall trend of total revenue, total contribution, total fixed cost and total profit for each product during 2018-2026. Select the correct chart types for each set of data and produce charts that convey the key messages to managers in a clear and understandable way.
2. Discuss the different stages in the product lifecycle using the visualization prepared in 1 to assist your answer, identify proper pricing strategies that Mangrove may consider in each stage. Suggest how Mangrove Ltd can attempt to extend the product life cycle for their products.
NB: You are expected to identify different stages in the product lifecycle for each product, use results in the above step to assist your answer. Then, suggest proper pricing strategies that Mangrove may consider in different stages. Notice that a full income statement is not required to reach the contribution and profit for each product, but a table showing any calculative workings must be clearly shown in the appendix. You are also to suggest Mangrove Ltd how to possibly extend the lifecycle for each of the product.
3. Critically evaluate the usefulness of your analytical approach in analysing product life cycle.
NB: Your discussions should cover critical reflections on your data analytics and decision making include, but not limited to, the following points
• What visualization tools did you use to present your data?
• Why were they the best ways to communicate this data?
• Do you think alternative techniques could be used for the same purpose?
• To what extent is product life cycle a useful decision-making tool?
• What other information would be useful for information users that have not been covered in your selected data?
4. This assignment should be in an essay format, including a clear introduction, structured and logical discussion, summative conclusion and reasonable academic presentation, within the word limit of no more than 1750 words excluding reference list.
5. Reference should strictly follow Harvard (author-date) referencing system, see below for details:
https://intranet.birmingham.ac.uk/as/libraryservices/library/referencing/icite/harvard/i ndex.aspx