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RT-F4/Entrepreneurship and Small Business Management/Module Booklet/Academic Writing 2.pdf

Academic writing skills

Writing, referencing & using electronic resources

“Care in the choice of one’s words is the respect that the mind

pays

to the instrument of its own being”

Agenda

• Writing

– What is academic writing

• Referencing

– Books

– Articles

– Others

• Electronic resources

Academic writing

• What is it all about?

Writing

• Academic writing is Formal

– No exaggeration (Not: extremely important)

– Impersonal (no use of “I am”)

– Direct to the meaning

– No final judgment!! Always allow for arguing and

accepting other opinions!!

WHAT DOES FORMAL WRITING

LOOK LIKE?

• Focus on the issue, not the writer Keeping

your writing objective and impersonal can make

it more convincing.

– It will be argued that the benefits of sales

promotion outweigh the disadvantages.

– I will argue in this assignment that ...

Choose words with precise

meanings

• Avoid words with vague meanings

– Compare:

• The writer looks at the issue

– with

• The writer examines the issue.

• The second option is more formal.

– Formal choices:

• He states … maintains … argues

– Informal choices:

• He says … talks about …

Add some style

• Writing is a very logical exercise, adding

style to it will enhance clearness and

power of convincing…

– Phrases for transition

– Phrases for emphasis

– Phrases for counterpoint

Phrases for transition

• Regarding

• Admittedly

• Consequently

• As a result

• Ultimately

• According to

• For this reason

Phrases for emphasis

• Moreover

• In fact

• Additionally

• For example

• In point of fact

• As a matter of fact

• Indeed

Phrases for counterpoint

• Conversely

• On the other hand

• However

• Nevertheless

• Notwithstanding

• Nonetheless

• Yet

• Despite

• Although

• Instead

Referencing

• What does referencing mean?

• Why should I include references in my

work?

• How do I reference my work?

What does referencing mean?

• When writing an academic piece of work

you need to acknowledge any ideas,

information or quotations which are the

work of other people. This is known as

referencing or citing.

Why should I include references

in my work?

• You should include references in order to:

– acknowledge the work of others

– provide evidence of your own research

– illustrate a particular point

– support an argument or theory

– allow others to locate the resources you have used

• And most importantly:

– avoid accusations of plagiarism

How do I reference my work?

• Your references should be consistent and

follow the same format. Various systems

have been devised for citing references,

but most Schools use the Harvard system

Referencing while writing

• References will be cited in your work in

two places: -

– 1) Where a source is referred to in the text

(Citation)

– 2) In a list (the Bibliography/List of references)

at the end of the assignment.

Citing references in the text

• Citing the author in the text

• Whenever a reference to a source is

made, its author's surname and the year

of publication are inserted in the text as

in the following examples...

Citing references in the text Cont.

– Dogs were the first animals to be

domesticated (Sheldrake, 1999).

• If the author's name occurs naturally in the

sentence the year is given in brackets .>>

– Sheldrake (1999) asserts that dogs were the

first animals to be domesticated.

Using direct quotes

• If you quote directly from a source you must

insert the author’s name, date of publication

and the page number of the quotation.

– ‘The domestication of dogs long predated the

domestication of other animals.’ (Sheldrake, 1999,

p.5).

• The page number should be given at the end of

the quote, in separate brackets if necessary, as

in the example below.

– Sheldrake (1999) asserts that the ‘domestication of

dogs long predated that of other animals.’ (p.15).

Citing works by more than one

author

• If your source has two authors you should

include both names in the text.

– Anderson and Poole (1998) note that a

‘narrow line often separates plagiarism from

good scholarship.’ (p.16).

Citing works by three or more authors

• If there are three or more authors you should

include the first named author and then add ‘et

al.’ in italics followed by a full stop. This is an

abbreviation of ‘et alia’ which means ‘and others’

in Latin.

– In the United States revenue from computer games

now exceeds that of movies (Kline et al., 2003).

Citing works by the same author written

in the same year

• If you cite two or more works written in the same year by the same author, then you must differentiate between them in both the text and your List of references by listing them as a,b,c etc.

– Natural selection can cause rapid adaptive changes in insect populations (Ayala, 1965a) and various laboratory experiments have been conducted to assess this theory (Ayala, 1965b).

Citing secondary sources

• When citing secondary sources (i.e. an author refers to a work you have not read) cite the secondary source, but include the name of the author and date of publication of the original source in the text. Only the secondary source should be listed in your references. You should only cite secondary sources if you are unable to read the original source yourself.

– Sheff (1993) notes that Nintendo invested heavily in advertising (cited in Kline et al.,2003, p.118).

Writing a Bibliography or List of

references

• The List of references appears at the end of

your work and gives the full details of everything

that you have cited in the text in alphabetical

order by the author’s surname

Printed books

• Printed books should be referenced using the following format and punctuation.

– Author/editor’s surname and initials.,

– (Year of publication).

– Title of book: including subtitles. (in italics or underlined)

– Edition. (if applicable)

– Place of publication: (followed by a colon)

– Name of publisher.

• Reference to a book with one author

– Sheldrake, R., (1999). Dogs that know when

their owners are coming home: and other

unexplained powers of animals. London:

Arrow Books.

• Reference to a book with two authors

– Anderson, J. and Poole, M., (1998).

Assignment and thesis writing. 3rd ed.

Chichester: John Wiley & Sons.

Print journals and newspapers

• Print journals should be referenced using the following format and punctuation. – Author's surname, initials., (or Newspaper title where

there is no author,)

– (Year of publication).

– Title of article.

– Name of journal. (in italics or underlined),

– Date of publication (if applicable e.g. 18 June)

– Volume number (in bold) (if applicable)

– (Part/issue number), (if applicable)

– Page numbers.

Example

• Britton, A., (2006). How much and how

often should we drink? British Medical

Journal. 332 (7552), 1224-1225.

• Britton, A., (2006). How much and how

often should we drink? British Medical

Journal. Vol. 332, No. 7552, pp.1224-1225

E-journal article accessed via

website on the open Internet

• Britton, A., (2006). How much and how often

should we drink? British Medical Journal. 332

(7552), 1224-1225. [online] Available

from:http://bmj.bmjjournals.com/cgi/content/full/3

32/7552/1224 [Accessed 2 June 2006].

http://bmj.bmjjournals.com/cgi/content/full/332/7552/1224

Websites, web pages

• Websites, web pages and PDF documents downloaded from the Internet should be referenced using the following format and punctuation. – Author/editor’s surname, initials., or name of owning organization

e.g. University of London)

– (Year of publication).

– Title. (in italics or underlined)

– Edition. (if applicable, e.g. update 2 or version 4.1)

– [online]

– Place of publication: (if known)

– Name of publisher. (if known)

– Available from: <URL>

– [Accessed (enter date you viewed the website)].

References

– Holland, M., (2005). Citing references. [online] Poole:

Bournemouth University. Available from:

<http://www.bournemouth.ac.uk/academic_services/d

ocuments/Library/Citing_References.pdf> [Accessed

2 June 2006].

– University of Westminster, (2007). Harry Potter fans to

cast spell over Westminster. [online] London:

University of Westminster. Available from:

<http://www.wmin.ac.uk/page-14428> [Accessed 24

July 2007].

RT-F4/Entrepreneurship and Small Business Management/Module Booklet/Academic Writing Skills 1.pdf

Dr Marco Angelini,

UCL Transition Programme

With thanks to Dr Colleen McKenna for kind

permission in reproducing her material in this

presentation

Approaches to critical reading and writing

Outline for today

 Introduction

 Considering your writing practices

 Reading as part of writing

 Writing as part of thinking

 Planning

 Organising written work

 Looking at text

 Finding time to write

What type of writer are you?

The diver

The patchworker

The architect

The grand planner

Identifying your writing style

Previous writing experiences …

Reading as part of writing

Critical reading (and how it benefits your writing)

 Helps you determine what is and

what is not a robust piece of

research and writing in your field

 Helps you identify where existing

research has left a gap that your

work could fill

 Attention you pay to writing of others

helps you become more self-aware

of your own written work:

– Sufficient evidence to back up claims;

argumentation/reasoning; becoming

alert to your assumptions and how they

affect your claims

 Wallace and Wray, 2006

Critical reading?

How do you go about

reading an academic text

in your field?

Critical reading? Some possible approaches

How do you go about reading an

academic text?

 Use parts of the text: abstract,

contents, index, sub-headings,

graphs, tables, introduction and

conclusion

 Skim to get the gist of the argument

 Read with questions in mind

Critical reading? Some possible approaches

 Make notes/mind map/ use

highlighter

 Write a summary in your own words

 Write a brief critical response

 Keep note of bibliographic details

Critical reading/ critical writing

Handout – p. 12-13 Wallace and Wray

 As a critical reader, one evaluates

the attempts of others to

communicate with and convince

their target audience by means of

developing an argument;

 As a writer, one develops one's own

argument, making it as strong and

as clear as possible, so as to

communicate with and convince

one's target audience.

– Wallace and Wray, 2006

Free writing

 Way of using writing as a tool for

thinking

 Allows you to write without

constraints.

To do it –

Write continuously, in complete

sentences, anything that occurs to

you.

Free writing

Please write down EITHER

1. An idea / theme from your field

2. Use the topic:

‘what I enjoy about writing…’

Use a free writing technique to write

anything at all that occurs to you

about this topic.

This writing will not be shown to

anyone else.

Planning (Sharples)

 Plans should be flexible

 Through the writing process a deeper

understanding of topic is gained – thus,

planning is increasingly out of step as

writing develops:

– “The act of writing brings into being ideas

and intentions that the writer never had at

the start of the task or that could not be

expressed in any detail.”

Plans

 Free writing

 Notes/sketches

 Idea lists

– Ideas on post-it notes

 Mind map

 Skeleton paper with

sub-headings

 Outline

 Draft text

 Adapted from

Sharples, 1999

 What techniques do you use to

develop ideas in your writing

and/or signpost an argument?

Developing/sustaining argument

 ‘proving’ the thesis statement or

controlling argument

 Signposting argument (Giving the

reader cues; anticipating/referring

back)

 Using words which signal transition or

development – “However”,

“Nevertheless”, “Thus”, “Therefore”,

“Despite”

 Illustrating theoretical positions with

concrete examples

 Generalising from a particular set of

findings if possible

 Using subheadings

 Using/responding to counterarguments

and examples

 Anticipate next paragraph at end of

previous one

Signposting and making transitions

 Links between paragraphs – pick up point from the end of a paragraph at the start of next one.

 Conjunctions to express different kinds of meaning relations

– Temporal: when, while, after, before, then

– Causative: because, if, although, so that, therefore

– Adversative: however, alternatively, although, nevertheless, while

– Additive: and, or, similarly, incidentally

 Signposting through pronouns - this, these, those, that, they, it, them

 Adverbs: Firstly, secondly, etc

 Illustrative: For example, in illustration, that is to say,

Signalling conclusions

Citation

Examples of Citing

• The hip bone is confirmed to be connected to the thigh bone (Funny Bones, 1989).

• The cytoskeletal network acts like the strong bars within a scaffolding (Alberts et al., 1998)

• Slavic-Smith (2006) postulated three classifications for nucleoli in neurons

• It was shown in 2006 by Take That, that a successful comeback tour was possible [1].

Bibliographies

 Alberts, Bray, Johnson, Lewis,

Raff, Roberts & Walter. Essential

Cell Biology, 1st Edition, Garland,

1998

 Dickson, B (2002) Molecular

Mechanisms of Axon Guidance.

Science 298 1959-1964

 [1] www.bbc.co.uk/news

Writing tips

 Write a sentence for each paragraph you want

to write – you can then move them about easily

to form thread of argument

 Index tag the main points you want to use in

your references, so they can be found easily

while writing

 Write the introduction last

 Write the conclusion first

 Read what you have written aloud to see if it

sounds right

 Find best environment for you – when and

where do you work best

 Take a break before trying to do your final check

 Use a writing checklist

Making time for writing

 Write throughout the course

 Do free writing as frequently as

possible

 Snack and binge writing (Rowena

Murray)

 Writing groups

 Don’t wait until you feel ‘ready’ to

write…

Writing for learning

 Read regularly in the field. Find writers whose work you admire and study what and how they do things.

 View writing as part of a process rather than a product

 Find models of good writing in your discipline – analyse it; ask what works and what doesn’t; consider writing style; vocabulary; techniques – metaphor; explanation; signposting

 Reflect on your own writing practices

 Keep a notebook or learning journal

 Explore free writing

To sum up…

1. Asked ‘what type of writer are

you’? What are your writing

practices?

2. What are your approaches to

reading? How might you link

reading and writing?

3. Free writing as a means of

generating ideas

4. Thought about structure of the

essay at the paragraph level and

the overall level

5. Tried to relate these ideas back

to the outline.

Reference

Academic Writing Skills

Presentation - UCL https://www.ucl.ac.uk/transition/study-

skills.../Academic_Writing_Skills_11.pptx

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0ahUKEwiluJHzxJHXAhVBBBoKHRQjCzoQFggmMAA&url=https%3A%2F%2Fwww.ucl.ac.uk%2Ftransition%2Fstudy-skills-resources%2FAcademic_Writing_Skills_11.pptx&usg=AOvVaw3tPjWzxu-gowAkd1JhDCUx

RT-F4/Entrepreneurship and Small Business Management/Module Booklet/BIS - A guide to legal forms for social enterprise.pdf

A GUIDE TO LEGAL FORMS FOR SOCIAL ENTERPRISE

NOVEMBER 2011

A Guide to Legal Forms for Social Enterprise

Definition of a Social Enterprise

The term “Social Enterprise” describes the purpose of a business, not its legal form. It is defined (by Government) as “a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners".

Setting up a social enterprise

At the simplest level, a social enterprise can be a sole trader who has decided to donate the majority of the profit he or she makes to a good cause. Social enterprises may however take a variety of legal forms and the process for establishing one will depend on which legal form is chosen. Commonly used legal forms include Limited company, Community Interest Company (CIC), and Industrial and Provident Society. However some social enterprises may also take on an unincorporated legal form such as an unincorporated association or a trust (or a combination of the two).

This emphasises an important distinction between setting up a business (social enterprise or otherwise) – which simply involves the decision to trade in goods and services – and establishing a company (or other incorporated entity) which involves being subject to registration and other legal requirements.

Unincorporated forms

If a social enterprise remains unincorporated, as a sole trader or partnership, its profits will be taxed as income of the individuals involved. They would normally be treated as self- employed and be required to use self-assessment to calculate the income tax and national insurance contributions applicable to any profits taken out of the business. Unincorporated associations may be similarly treated for tax purposes, although many are liable for corporation tax on their income and must register with HM Revenue and Customs (HMRC) for this purpose.

All businesses (whether incorporated or not) are required to register with HMRC for VAT if their VAT taxable turnover exceeds £70,000 per annum, and for PAYE and employer national insurance contributions if and when they decide to take on employees. Similarly certain other legal requirements apply to all businesses – for instance those governing business names, record keeping (for tax purposes as relevant), and consumer protection legislation.

Incorporated forms

As with any business, there are some key advantages for social enterprises in choosing an incorporated legal form: such forms have a separate legal personality and limited liability for investors. Incorporation is advisable, and often necessary, where businesses are taking

on significant contractual obligations or raising external capital. A brief overview of the processes for establishing the main incorporated forms, and their applicability for use by social enterprises is set out below.

Limited companies: The most common incorporated form for business is the private company - limited either “by shares”, or alternatively “by guarantee”. The limited company is subject to stricter regulatory requirements than unincorporated forms: greater accountability and transparency to shareholders and to the public is the price to pay for the benefit of limited liability.

In order to establish a limited company the business must register with Companies House, and with HMRC for corporation tax. This “incorporation” process is relatively straightforward. Those intending to incorporate the company must submit a form to Companies House with the proposed company’s details which include, the company’s proposed name, registered office address, company officers, and whether it will be private or public, as well as a statement of capital and initial shareholdings or statement of guarantee. Alongside this they must submit a Memorandum of Association, for which Companies House provide a proforma on their website. They must also indicate if the company is adopting the model Articles of Association provided, or an amended version of these articles, or bespoke articles of their own (although note that the model articles apply by default if no indication is given).

Once a company has been incorporated, Companies House will inform HMRC that a new company has been incorporated, which triggers HMRC to send an information pack to the Registered Office Address of the company. The company is then required to file a paper form to register for corporation tax (if it has taxable income or profits).

The limited company form offers flexibility for various types of business, including social enterprises. It is quite possible for example for the members of a company to include provisions in its articles of association which define its social purpose. It is important to note that it will always be possible for these provisions to be overturned or amended by a special resolution of the company’s members. Note that this may not be an issue if, for instance, the social enterprise company is a wholly owned trading subsidiary of a charity, or if shares are given to other benefitting from the social enterprise.

Community Interest Companies (CICs): A Community Interest Company (CIC) is a form of company specifically created for the social enterprise sector. The CIC form has been growing in popularity since its establishment in 2004, and there are now over 5,500 registered CICs. CIC’s are required by law to have provisions in their articles of association to enshrine their social purpose, specifically an ‘asset lock’, which restricts the transfer of assets out of the CIC, ultimately to ensure that they continue to be used for the benefit of the community; and a cap on the maximum dividend and interest payments it can make. CIC structure provides a clear signal to investors that the enterprise operates for the benefit of the community, and that this social purpose is protected by proportionate regulation. A CIC may convert into a charity, or into a Community Benefit Society (see below), or it may voluntarily dissolve – but once established it may not convert into a standard limited company.

The process for setting up a CIC is relatively simple. It is essentially the same as that for a limited company except those wishing to register a CIC must also submit a second form comprising a community interest statement, providing evidence that the CIC will meet the community interest test defined in law. This statement is passed by Companies House, which manages the Registration process, to the CIC Regulator prior to registration for review and decision. The CIC Regulator also provides a series of model articles of association for prospective CICs to adopt “off the shelf” to ensure that the process is as straightforward as possible.

Industrial and Provident Societies (IPSs): There are two kinds of Industrial and Provident Society (IPS) – Co-operative Societies (which may be social enterprises) and Community Benefit Societies or ‘BenComms’ whose purpose must primarily be “for the benefit of the community”. IPSs must register with the Financial Services Authority rather than Companies House. This process consists of a short paper-based form to which the society must attach two copies of its proposed rules.

Limited Liability Partnerships (LLPs): A Limited Liability Partnership (LLP) has a separate legal personality similar to a company. Unlike a standard partnership, members of the LLP enjoy limited liability as the name suggests, but the partnership is essentially transparent for tax purposes: non-corporate partners register for self assessment and pay income tax on their share of the profits, while profits shared by corporate partners will be liable to pay corporation tax on this income.

Although not originally designed for the purpose, the LLP form provides a flexible model for social enterprises, particularly where they seek to work in partnership with other organisations or investors, or adopt a mutual model for ownership and control. LLPs have much more freedom than companies to arrange their affairs as they wish – for example in the way decisions are made, and the way in which profits are distributed to members. Thus is order to be a social enterprise an LLP need only decide that, rather than each member taking an equal share of the profits, a majority proportion of the profits will be dedicated to a social purpose.

Two considerations are especially important in drawing up the membership agreement of an LLP social enterprise. First, partners’ salaries are normally treated as profit in the LLPs accounts, whereas in a company they would be treated as operating costs. This can be misleading for investors and others, particularly when the business is starting out and profits after salary costs are limited, because in strict accounting terms a majority of the profits may not be reinvested or distributed for a social purpose. It is therefore crucial that the membership agreement makes the underlying social purpose and the terms of partners’s remuneration extremely clear. Second, as with a company, it is difficult to completely lock the social purpose into the LLP’s membership agreement. Ultimately if all partners resolved to amend the membership agreement they have the ability to do so. However it is of course possible to give partnership status in the LLP to those individuals or organisations benefitting from the social enterprise.

LLPs are straightforward to set up and register: Companies House provide a simple registration form. There is no requirement to submit an LLP’s full membership agreement to Companies House, and the ongoing requirements to file document with Companies House are less onerous than for a limited company.

You may re-use this information (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence. Visit www.nationalarchives.gov.uk/doc/open-government-licence, write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected].

This publication is also available on our website at www.bis.gov.uk

Any enquiries regarding this publication should be sent to:

Department for Business, Innovation and Skills 1 Victoria Street London SW1H 0ET Tel: 020 7215 5000 If you require this publication in an alternative format, email [email protected], or call 020 7215 5000. URN 11/1400

RT-F4/Entrepreneurship and Small Business Management/Module Booklet/Referencing Format.pdf

@ICTM PAGE 1 OF 9

ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT

Harvard Referencing and Citation Guidelines

Referencing:

This is a method used to demonstrate to the assessors that a learner has conducted a thorough

and appropriate literature search. Equally, referencing is an acknowledgement that you have

used the ideas and written material belonging to other authors in your own work. As with all

referencing styles, there are two parts: Citing and the Reference List.

Referencing list format:

This is your list of all the sources that have been cited in the assignment. The list is inclusive showing books, journals, etc., listed in one list, not in separate lists according to source type. The list should be in Alphabetical Order by author/editor/company name, etc. (No bullet

points or numbering)

PRINTED/PUBLISHED SOURCES

Book: by one Author

Author (surname), Initials. (Year) Title of book (Italic). Edition. (only include this if not the first edition) Place of publication (this must be a town or city, not a country): Publisher. Reference List: Where 1st edition

Baron, D. P. (2008) Business and the Organisation. Chester: Pearson. Where 3rd edition Redman, P. (2006) Good essay writing: a social sciences guide. 3rd ed. London: Open University in assoc. with Sage. In text reference:

According to (Baron, 2008) organization structure … Leading social scientist (Redman, 2006; Baron, 2008; Smith, 2008) have noted … Book: by two, three authors The required elements for a reference are: Author, Initials.(Year) Title of book. Edition (only include this if not the first edition). Place: Publisher.

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Reference List: Barker, R., Kirk, J. and Munday, R.J. (1988) Narrative analysis. 3rd ed. Bloomington: Indiana University Press. In text reference for the above examples:

A new theory (Barker and Munday, 1988) has challenged traditional thinking … Book: by four or more authors Author (surname), Initials. et al (Year) Title of book. Edition (only include this if not the first edition). Place: Publisher. Reference List:

Grace, B. et al. (1988) A history of the world. Princeton, NJ: Princeton University Press. In text reference for the above examples: Leading business fellows Grace et al (1988) noted that… Foreign Book Author (surname), initial. (Year) Title of Book [either as given or an English translation in square brackets] Place of publication Publisher Language of translation in round brackets Reference List: Borges, J. L. (1995) [Ficciones] Madrid: Alianza Editorial.

Book: Translated Author (surname), Initials. (Year) Title of book. Translated from (language) by (name of translator) Place of publication: Publisher.

Canetti, E. (2001) The voices of Marrakesh: a record of a visit. Translated from German by J.A.Underwood. San Francisco: Arion.

Multiple Books by same Author published in the same year Author (surname), Initals.(Year a/b/c) Title of book. Place: Publisher.

Reference List: Soros, G. (1966a) The road to serfdom. Chicago: University of Chicago Press. Soros, G. (1966b) Beyond the road to serfdom. Chicago: University of Chicago Press. In text reference for the above examples:

Soros (1966a) mentioned in his …………… According to Soros (1966b) modern literature……….

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Chapter of edited book or Secondary reference for Book and Journal

When an author refers to another author’s work and the primary source is not available

Chapter author(s) surname(s) and initials. Year of chapter. Title of chapter followed by In: Book editor(s) initials and surnames with ed. or eds. after the last name. Year of book. Title of book. Place of publication: Publisher. Chapter number or first and last page numbers followed by full-stop.

References List:

Smith, J. (1975) “A source of information.” In: W. Jones, ed. (2000). One hundred and one ways to find information about health. Oxford: Oxford University Press. Ch. 2. Samson, C. (1970) “Problems of information studies in history.” In: S. Stone, ed. (2002). Humanities information research. Sheffield: CRUS, pp. 44-68. In text reference for the above examples: (Smith, 1975) (Samson, 1970)

N.B. You are advised that secondary referencing should be avoided wherever possible and you should always try to find the original work

Journal Articles

Author (surname), Initials. (Year) Title of article. Full Title of Journal, Volume number (Issue/Part number), Page number(if single page then use ‘p’ if more than one page use ‘pp’) References List:

Boughton, J.M. (2002) The Bretton Woods proposal: an in-depth look. Political Science Quarterly, 42(6), pp.564-78.

Foreign Journal

Author (surname), initials. (Year) Title of article [square brackets] Journal title Edition Page number Language of translation (round brackets) References List:

Caballero, D. (2003) [Policing without borders] Cambi16. 1(668) pg. 24 (in Spanish)

Report

Author (surname), initials. (Year) Title of report (underline or italicise) Publisher Report code and number (in brackets) References List:

Dearing, R. (1996) Review of qualifications for 16 – 19 year olds: quality and rigour in A Level examinations. London: SCAA Publications (COM/96/467)

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Annual Report:

Corporate author, Year of publication. Full title of annual report (if available), Place of Publication: Publisher.

Marks & Spencer (2004) The way forward, annual report 2003-2004, London: Marks & Spencer. For an e-version of an annual report. The required elements for a reference are: Author or corporate author, Year. Title of document or page, [type of medium]Available at: include web site address/URL(Uniform Resource Locator)[Accessed date]

Marks & Spencer (2004) Annual report 2003-2004. [Online] Available at: http://www- marks-and-spencer.co.uk/corporate/annual2003/[Accessed 4 June 2005]. Theses Author (surname), initials. (Year) of submission. Title of theses (underline or italicise) Degree statement Degree-awarding body References List:

Hounsome, I. W. (2001) Factors affecting the design and performance of flexible ducts in trench reinstatements. Unpublished Ph.D. thesis. Napier University.

Newspaper

Article with author

Author (surname), initials. (Year) Article Title (underline or italicise) Name of Newspaper Date (day, month, year) Page number References List:

Ward, L. (2004) Diploma plan to reward lower and higher abilities. The Guardian.18th February, p.4.

Article without an author

Title of publication Year of publication (in brackets) Title of article (underline or italicise) Day and Month Page number References List:

The Guardian (2004) HSBC CEO has come down at last. 23rd November, p. 10.

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ELECTRONIC SOURCES

Electronic Book (e-book)

Author (surname), initials. (Year) Title of book (underline or italicise) Name of e-book supplier [Online] Available at: URL (Date accessed) References List:

Krug, B. and White, S. E. (2004) EBay secrets: how to create Internet auction listings that make 30% more money while selling every item you list. Amazon [Online]. Available at: http://www.amazon.com/exec/obidos/tg/detail/ (Accessed: 16 August 2004).

Articles in Electronic Journal

Author (surname), initials. (Year) Title of article (in quotation marks) Title of journal (underline or italicise) Volume, issue, page numbers Database Name [Online] Available at: URL of collection (Date accessed). References List:

Haliday, J. (2004) 'Ford dealers test custom cable ads', Advertising age,75 (42), pg. 6. Proquest [Online]. Available at: http://proquest.umi.com/ (Accessed: 23 November 2004).

Article in Internet Journal Database

Author (surname), initials. (Year) Title of article (underline or italicise) Title of Journal (underline or italicise) [Online] Volume, issue Available at: URL of web page (Date accessed). References List:

Lloyd, J. (2001) Blessed are the pure in heart: globalisation. New Statesman, 23 April [Online]. Available at: http://www.findarticles.com/p/articles(Accessed: 23 November 2004).

Online Material in the Internet without Date

Author (surname), initials. (Year) Title of article (underline or italicise) [Online], issue [Online] Available at: URL of web page (Date accessed).

References List:

Lloyd, J. (No Date) Blessed are the pure in heart: globalisation [Online]. Available at: http://www.findarticles.com/p/articles (Accessed: 23 November 2004).

Online Material from Internet without Author’s Name

Name of the Organisation, (Year) Title of article (underline or italicise) [Online] Available at: URL of web page (Date accessed).

References List: Marks & Spencer (2010) Marks and Spencer’s Corporate Strategy [Online]. Available at: http://www.m&s.co.uk/corporate/ (Accessed: 23 November 2004)

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Name of sender and email address, (Year) Message or subject title from posting line. [type of medium] Recipient's name and email address. Date sent: Including time. Available at: URL (e.g. details of where message is archived). [Accessed date].

Jones, P. ([email protected]), (2005) Mobile phone developments. [email] Message to R. G. Schmit ([email protected]). Sent Monday 7 June 2005, 08:13. Available at: <http://gog.defer.com/2004_07_01_defer_archive.html> [Accessed 7 July 2005]. N.B: Permission should be sought before these sources are quoted. Copies of such correspondence should be kept, as these may need to be submitted as an appendix in an academic submission

Images from the Internet

Author (surname), initials. (Year) Title of image (underline or italicise) [Online image] Available at: URL (Date accessed) References List:

Marshall, J. (2000) Cathedral clock. [Online image]. Available at: http://www.westminstercathedral.org.uk/art/art_cathclock.html (Accessed 23 November 2004).

OTHER SOURCES

Computer Programme

Author (surname), initials. (Year) Title of programme (underline or italicise) Version (in brackets) Form, i.e. Computer programme [in square brackets] Availability, i.e. distributor, address, order number (if given)

References List:

Sanders, B. and William, B. (2001) Java in 2 semesters. (version 2) [computer programme] Microsoft Inc. New York.

Atlas

As for books, using the title page to find the information

References List:

The times atlas of the world (2004) London: Times Books.

Video / Film

Title of programme/film (underline or italicise) Year of distribution (in brackets) Director [Videocassette] Place of distribution: distribution company

References List

All about Eve (1977) Directed by Joseph Mankiewiez [Film]. United States: Twentieth Century Fox.

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Television programme Title of programme (underline or italicise) Year of publication (in brackets) Name of channel Date of transmission (day/month/time)

References List

Coronation Street (2004) ITV1, 25 November. 19.00hrs.

Audiocassette/CD/DVD

Author (if available, if not use title first) Year of publication (in brackets) Title of recording (underline or italicise) [Audiocassette] Place of publication: publisher. References List

Buenos: world Spanish (1995) [Audiocassette or CD or DVD]. London: BBC Books.

QUOTATIONS AND CITING INSIDE THE TEXT

Citation: When you use another person’s work in your own work, either by referring to their ideas, or by including a direct quotation, you must acknowledge this in the text of your work. This acknowledgement is called a citation. It is important that information taken from another author’s work is properly cited and referenced, giving credit to the original author. This includes the use of direct quotations as well as summaries, paraphrased information, statements and conclusions. If you do not cite information in the correct way you will be accused of plagiarism. This allows the reader to find the source of all the ideas including direct quotations that are presented in your work in the list provided in the Reference List. The information given at this point should be the author, and the date of the publication. The aim is to keep it short so that it does not detract from the text. There are a range of ways of presenting this and situations that might dictate the style.

You can incorporate references and quotations in a number of ways. The following examples use the Harvard Referencing.

Short quotations of a sentence or two are enclosed with quotation marks (“…”) and included in the main text.

Short Quotation

In this example, you are making a direct quote. Up to two lines can be included in the body of the text and must include the page number.

Smith (2003, p. 11) states that “Harvard referencing has to be done accurately”

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Longer Quotation

This should be indented in a separate paragraph. If part of the quotation is omitted, then this can be indicated by three dots.

Cottrell (1999, p. 10) in discussing plagiarism states that, plagiarism is using the work of others without acknowledging your sources of information or inspiration. This includes: using words more or else exactly as they……….

N.B: Longer quotations are separated from the text, placed in their own paragraph and do not need to be enclosed in quotation marks. Avoid long quotations as they will be picked up by (Turnitin) as plagiarism. Long words for quotation should be avoided but it is acceptable to include them if they are presented in the following way.

Citations (inside the text)  If the originator’s name occurs naturally in the sentence, the year of publication

should follow in brackets. Example

Smith (2003) found that…or, In a recent study Smith (2003) argued that…

 If the author’s name would not naturally be included in the sentence add the author’s

name and year of publication in brackets i.e. Example

Management theories have become much more diverse (Anderson, 1996)

 For publications by two authors:

Example

In a recent study (Smith & Jones, 2003) it was argued that…

 If you are referring to a particular page or section of a work and the author’s name

would naturally be included in the sentence the date and page numbers follow in brackets i.e.

Example

In a recent study Smith (1996, p.26) argued that….

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 If the author’s name will not normally be included in the sentence all information is given in brackets i.e.

Example

In a recent study (Smith, 1996, p.26) it was argued that…

 In cases where the name of the author cannot be identified, the item should be referred to by title:

Example

Figures in a recent survey (Tourism trends, 2003. p. 12) showed that…

 In cases where the date of an item cannot be identified, the item should be cited:

Example

The earliest report (Smith, no date, p. 231) showed that…

 If the author and date are unknown:

Example

 When you refer to a corporate publication e.g. a company report, use the Company

Name: Example

A survey (Tourism trends, no date) showed that…

The recession affected………..(Hanson Trust plc, 1990)

RT-F4/Entrepreneurship and Small Business Management/Module Booklet/Unit 9 Ent and Small Bus Mgmnt Assignment Brief Feb 2018 ZH.pdf

ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT Pearson BTEC HND in Business

Unit 9 Entrepreneurship and Small Business Management (RQF) Assignment Brief

Session: February 2018

Programme title TNA67 Pearson BTEC HND in Business (RQF)

Unit number and title Unit 9 Entrepreneurship and Small Business Management

Unit Type Optional

Unit Level and Credit Value

Level 4 15 Credit

Assessor (s) Prof Zakir Hossain, Dr Reza Aboutalebi; Mr Tony Doherty, Mrs Kavita Seth, Mr Chris Dampare

Issue Date 3 March 2018

Final assignment submission deadline

11-16 June 2018

Late submission deadline

18-23 June 2018

The learners are required to follow the strict deadline set by the College for submissions of assignments in accordance with the BTEC level 4–7 submission guidelines and College policy on submissions.

Resubmission deadline TBA

Feedback

Formative feedback will be available in class during the semester.

Final feedback will be available within 2 weeks of the assignment submission date.

General Guidelines

 The work you submit must be in your own words. If you use a quote or an illustration from somewhere you must give the source.

 Include a list of references at the end of your document. You must give all your sources of information.

 Make sure your work is clearly presented and that you use correct grammar.

 Wherever possible use a word processor and its “spell-checker”.

Internal verifier Prof Zakir Hossain

Signature (IV of the brief) *

[email protected] Date 1/3/18

mailto:[email protected]

Assignment Brief – continued

ICON College of Technology and Management Pearson BTEC HND in Business (RQF)

Unit 9: Entrepreneurship and Small Business Management Session: February 2018

Coursework Recommended Word limit: 3,000–4,000

This Unit will be assessed by assignment. You are strongly advised to read “Preparation guidelines of the Coursework Document” before answering your assignment. ASSIGNMENT Assignment Context and Scenario: You have been approached by a growing UK-based small business enterprise of your choice to

help them introduce a new business/branch in the UK with an objective to diversifying products and

services as part of innovation.

You are required to write a report on exploring the range of venture types which are of

entrepreneurial. You need to assess the impact of the proposed business in the local and

national economy. You are to identify the key aspects of an entrepreneurial mindset after a

thorough assessment. You are also required to identify the environmental factors and examine

how those factors foster or obstruct entrepreneurship. This report should be submitted to the

manager of your chosen small business enterprise.

What you must do The following tasks are required to be carried out: LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial. Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship. [P1] To achieve M1, you should investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both public and corporate sector. To achieve D1 you should critically examine the scope, development and growth of entrepreneurial ventures. Explore the similarities and differences between entrepreneurial ventures. [P2] LO2 Assess the impact of small business on the economy.

Interpret and assess relevant data and statistics to illustrate how micro and small business

impact on the economy [P3].

Assignment Brief – continued

To achieve M2, you should evaluate the differences small, medium and large businesses make to

the economy, applying relevant data and statistics.

To achieve D2, you should critically examine how small businesses have an impact on different

levels of the economy (local, regional and national) and an international context. Explain the importance of small businesses and business starts-ups to the growth of social economy. [P4].

LO3 Determine and assess the key aspects of an entrepreneurial mindset.

Determine the characteristic traits and skills of successful entrepreneurs that differentiate them

from other business managers. [P5]

To achieve M3, you should explore and examine different lines of argument relating to

entrepreneurial characteristics.

To achieve D3, you should analyse the characteristic traits, skills and motivational drivers of

successful entrepreneurs, supported by specific examples.

Assess how aspects of the entrepreneurial aspects personality reflect entrepreneurial motivation and mindset. [P6] LO4 Examine the different environments that foster or hinder entrepreneurship. Examine, using relevant examples, how background and experience can hinder or foster

entrepreneurship. [P7]

To achieve M4, you should analyse the link between entrepreneurial characteristics and the

influence of personal background and experience to specific successful entrepreneurs.

To achieve D4, you should critically evaluate how background and experience influences

entrepreneurs, both positively and negatively, by comparing and contrasting examples.

Assignment Brief – continued

Grading Criteria

Learning Outcome Pass Merit Distinctions

LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial.

P1 Examine different

types of

entrepreneurial

ventures and explain

how they relate to the

typology of

entrepreneurship.

P2 Explore the similarities and differences between entrepreneurial ventures

M1: Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both public and corporate sector.

D1: Critically examine the scope, development and growth of entrepreneurial ventures.

LO2 Assess the impact of small business on the economy.

P3 Interpret and

assess relevant data

and statistics to

illustrate how micro

and small business

impact on the

economy.

P4 Explain the importance of small businesses and business starts-ups to the growth of social economy

M2: Evaluate the

differences small,

medium and large

businesses make to

the economy,

applying relevant

data and statistics.

D2: Critically examine how

small businesses have an

impact on different levels of

the economy (local, regional

and national) and an

international context.

LO3 Determine and assess the key aspects of an entrepreneurial mindset.

P5 Determine the

characteristic traits

and skills of

successful

entrepreneurs that

differentiate them

from other business

managers.

P6 Assess how aspects of the entrepreneurial aspects personality reflect entrepreneurial motivation and mindset

M3: Explore and

examine different

lines of argument

relating to

entrepreneurial

characteristics.

D3: analyse the characteristic traits, skills and motivational drivers of successful entrepreneurs, supported by specific examples

LO4 Apply Human Resource Management practices in a work- related context

P7 Examine, using relevant examples, how background and experience can hinder or foster entrepreneurship.

M4: Analyse the link between entrepreneurial characteristics and the influence of personal background and experience to specific successful entrepreneurs

D4: Critically evaluate how background and experience influences entrepreneurs, both positively and negatively, by comparing and contrasting examples.

Assignment Brief – continued

Relevant Information Guide to student 1. Preparation guidelines of the Coursework Document

a. All coursework must be word processed. b. Document margins must not be more than 2.54 cm (1 inch) or less than 1.9cm (3/4 inch). c. The assignment should be in a formal business style using single spacing and font size 12. d. Standard and commonly used type face such as Arial should be used. e. All figures, graphs and tables must be numbered. f. Material taken from external sources must be properly referenced using the Harvard

referencing system. g. You should provide references using the Harvard referencing system. h. Do not use Wikipedia as a reference.

2. Plagiarism and Collusion

Any act of plagiarism or collusion will be seriously dealt with according to the College regulations. In this context the definitions and scope of plagiarism and collusion are presented below: Plagiarism is presenting somebody else’s work as your own. It includes copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort. Collusion is copying another student’s coursework; stealing coursework from another student and submitting it as your own work. Suspected plagiarism or collusion will be investigated and if found to have occurred will be dealt with according to the College procedure (For details on Plagiarism & Collusion please see the Student Handbook).

3. Submission

a. Initial submission of coursework to the tutors is compulsory in each unit of the course. b. The student must check their assignments on ICON VLE with plagiarism software Turnitin to make

sure the similarity index for their assignment stays within the College approved level. A student can check the similarity index of their assignment three times in the Draft Assignment submission point located in the home page of the ICON VLE.

c. All Final coursework must be submitted to the Final submission point into the Unit (not to the Tutor). The student would be allowed to submit only once and that is the final submission.

d. Any computer files generated such as program code (software), graphic files that form part of the coursework must be submitted as an attachment to the assignment with all documentation.

e. Any portfolio for a Unit must be submitted as a hardcopy to examination office. f. The student must attach the tutor’s feedback from the First submission in between the cover page and

the answer in the case of Resubmission. 4. Good practice

a. Make backup of your work in different media (hard disk, memory stick, etc.) to avoid distress for loss or damage of your original copy.

5. Extension, Late Submission and Resubmission

a. If you need an extension for a valid reason, you must request one using an Exceptional Extenuating Circumstances (EEC) form available from the College examination office and ICON VLE. Please note that the tutors do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick, and should be submitted to the Examination Office.

b. Late submission will be accepted and marked according to the College procedure. It should be noted that late submission may not be graded for Merit and Distinction.

c. All late coursework must be submitted to the Late submission point into the unit (not to the Tutor) in the ICON VLE. A student is allowed to submit only once and that is also treated as the final submission.

d. Only one opportunity will be given for reassessment (resubmission) will be permitted and the assessment will be capped at Pass for the unit. In addition, no resubmission will be allowed

Assignment Brief – continued

in any component of the assessment for which a Pass grade or higher has been achieved. e. Repeat Units – A student who has failed to achieve a Pass in both Final/Late submission

and in the Resubmission must retake the unit with full attendance and payment of the unit fee. The overall unit grade for a successfully completed repeat unit is capped at Pass for that unit. Units can only be repeated once.

6. Submission deadlines Online to the ICON College VLE

Final Submission date: 11-16 June 2018 Late Submission date: 18-23 June 2018

Glossary:

Analyse: Identify separate factors, say how they are related and how each one contribute to the topic. Assess: to determine the importance, size and value of something. Or give careful consideration to all the factors or events that apply or identify which are the most important or relevant. Critically evaluate: Point out differences which are particularly significant.

Evaluate: review the information then bring it together to form a conclusion. Give evidence of each of your views or statement. Explain: Set out in detail the meaning of something, with reasons. More difficult than describe or list; it can help to give an example to show what you mean. Start by introducing the topic then give the ‘how’ and ‘why’ OR provide details and give reasons and/or evidence to clearly support the argument you are making. Explore: Inquire into or research about any factors pertinent to a particular issue. Examine: When you evaluate you look at the arguments for and against an issue. Identify: Point out or choose the right one/ give a list of main features. Illustrate: Include examples or a diagram to show what you mean. Determine: Ascertain or establish exactly by research.

RT-F4/Entrepreneurship and Small Business Management/Module Booklet/Unit 9 ESBM SoW - Feb 18.pdf

Page 1 of 3

ICON College of Technology and Management Pearson BTEC HND in Business (RQF)

Unit 9: Entrepreneurship and Small Business Management Scheme of Work

Session: February 2018

This unit is aimed at achieving the following learning outcomes: LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial

LO2 Assess the impact of small businesses on the economy LO3 Determine and assess the key aspects of an entrepreneurial mindset LO4 Examine the different environments that foster or hinder entrepreneurship

Programme Title TNA67 Pearson BTEC in Business

Unit number and Title Unit 9 Entrepreneurship and Small Business Management

Unit Type Optional Unit Level Level 4 15 Credit

Sessions Indicative Contents Session Activities

Week 1: LO1: Explore and

illustrate the range of venture

types that might be considered

entrepreneurial

Lecture 1: Introduction

Unit learning outcome, Syllabus, and

Assignment briefing, Assessment ,

Reading, Academic Skill, citation and

referencing

Providing course work

overview

Week 2 LO1

Lecture 2: Scoping and

defining entrepreneurship

What is entrepreneurship? Defining

entrepreneurship, entrepreneurial activity

and enterprise.

The differences between serial

entrepreneurs, intrapreneurs and owner

managers.

Brainstorm definitions of the

terms entrepreneur and

entrepreneurship

Week 3: LO1

Lecture 3: The typology of

entrepreneurship and social

enterprise

Lifestyle and growth firms.

Entrepreneurship in a corporate or public

sector context. Roles and characteristics of

micro, small and medium-sized

organisations.

Understanding social enterprise, social

entrepreneurs and the growth of the social

economy.

Discussion activity –

the meaning of social

enterprise and

entrepreneurship and

the key differences vs

entrepreneurship.

Week 4: LO2: Assess the

impact of small business on

the economy

Lecture 4: Where

entrepreneurship ideas come

from

Definitions of creativity and innovation

The main sources of generating business

and entrepreneurial ideas

How businesses protect intellectual

property rights

Discussion activity – the value

and importance of encouraging

small business growth within

the economy.

Formative Feedback

Brief tutor-led overview of

assessment requirements

Academic writing

Week 5: LO2

Lecture 5: The role and

importance of small firms and

international aspects of

entrepreneurship

The number and type of small firms and

their contribution to the economy at

national, regional and local level.

Factors to consider: size, turnover, profit,

rate of growth, innovation, sustainability

and adaptability.

Group activity – compare

and contrast the size,

turnover, growth and

sustainability of case study

organisations.

Week 6: LO2

Lecture 6: International

aspects of entrepreneurship

How international differences impact upon

business start-up. Group activity –

discuss and highlight

Page 2 of 3

International vs domestic entrepreneurship.

The benefits of international

entrepreneurship.

Entrepreneurial entry into new business and

barriers.

Factors that support international

entrepreneurship.

different strategies used

to enter into new

business.

Academic writing

Week 7: LO3: Determine and

assess the key aspects of an

entrepreneurial mindset

Lecture 7: Entrepreneurial

characteristics and mindset

Research on personal characteristics of

entrepreneurs and small business owners

Different arguments relating to

characteristics of entrepreneurs such as are

they born or made?

Can the characteristics be learnt and

adapted by anyone?

Debate activity – split students

into groups ‘for’ and ‘against’

and examine the research

provided. Questions debated:

are entrepreneurs born or

made? (Nature vs nurture).

Can entrepreneurship be

taught?

Week 8: LO3

Lecture 8: Skills set of the

entrepreneur and personal

entrepreneurial tendency

The types of skills that typify entrepreneurs

and how these skills differentiate from

other organisation managers.

Entrepreneurial characteristics and

situational factors in a personal context,

including family upbringing, lifestyle,

cultural differences and personal motivation

and drivers.

Groups explore

different entrepreneurs

and identify shared

personal common

traits.

Groups to present findings and

discuss.

Business Show Olympia 2017

Visit – 16 November

Week 9: LO4:

Examine the different

environments that foster or

hinder entrepreneurs

Lecture 9: The factors that

influence the decision to start

business

The range of factors that influence the

choice to start-up a business, including

personal background and education,

national culture, economic circumstances

and character traits.

In groups, students identify

key factors that contribute to

making a business either

successful or a failure.

Formative Feedback

Brief tutor-led overview of

assessment requirements

Academic writing

Week10: LO4

Lecture 10: The risks and

rewards of business start-up

The potential rewards of business start-up.

The risks and uncertainties of business

start-up and how they can be mitigated.

Pair work - strategies to

mitigate risk when setting up

a business.

Week 11: Assignment

Workshop Review student progress on

assignment writing.

Brief tutor-led overview of

assessment requirements.

Open question and answer

activity to address general

questions and concerns.

Review of academic

requirements and submission

format.

Individual student queries and

questions.

Week 12 Reserve class to cover any missing class Formative Feedback

Week 13 Study Week

Week 14 Final Submission Final Draft submission

Page 3 of 3

Burns, P. (2011), Entrepreneurship and Small Business. 3rd Ed. Basingstoke: Palgrave MacMillan.

https://secure3.ehaus.co.uk/macmillanhe/resources/sample-chapters/9781137430359_sample.pdf

https://he.palgrave.com/resources/sample-chapters/9781137430359_sample.pdf Burns, T. and Sinfield, S (2016), Essential Study Skills: The Complete Guide to Success at University, Los Angeles, SAGE

Carter, S. and Jones-Evans, D. (2012), Enterprise and Small Business: Principles, Practice and Policy,

London: Pearson.

Down, S. (2010), Enterprise, Entrepreneurship and Small Business. London: Sage.

Griffiths, A. and Wall, S. (2011), Economics for Business and Management. 3rd Ed. Harlow: Pearson. Swales, J. M and Feak, C, B. (2012), Academic Writing for Graduate Students, Ann Abor, The University of Michigan

Websites

The Institute for Small Business and Entrepreneurship (ISBE) website: www.isbe.org.uk Quizes Entrepreneurship And Innovation https://www.proprofs.com/quiz-school/story.php?title=ODQ4MzEyRO6E https://www.bizmove.com/other/quiz.htm Journals: Harvard Business Review (available in ICON Library) Economist (available in ICON Library

Journal of Small Business Management, Oxford: Wiley-Blackwell.

(http://onlinelibrary.wiley.com/journal/10.1111/ (ISSN) 1540-627X) News Papers The Financial Times Business http://www.ft.com/home/uk Evening Standard Business http://www.standard.co.uk/business/ CITY A.M. Business http://www.cityam.com/ Pearson Resources: Student Portal: HN Global Please access HN Global for additional resources support and reading for this unit. For further guidance and support on presentation skills please refer to the Study Skills Unit on HN Global. Link to: https://www.highernationals.com/

https://secure3.ehaus.co.uk/macmillanhe/resources/sample-chapters/9781137430359_sample.pdf

https://he.palgrave.com/resources/sample-chapters/9781137430359_sample.pdf

https://www.proprofs.com/quiz-school/story.php?title=ODQ4MzEyRO6E

https://www.bizmove.com/other/quiz.htm

http://onlinelibrary.wiley.com/journal/10.1111/

http://www.ft.com/home/uk

http://www.standard.co.uk/business/

http://www.cityam.com/

https://www.highernationals.com/

RT-F4/Innovation and Commercialisation/Module Booklet/Harvard Referencing.pdf

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ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT

Harvard Referencing and Citation Guidelines

Referencing:

This is a method used to demonstrate to the assessors that a learner has conducted a thorough

and appropriate literature search. Equally, referencing is an acknowledgement that you have

used the ideas and written material belonging to other authors in your own work. As with all

referencing styles, there are two parts: Citing and the Reference List.

Referencing list format:

points or numbering)

PRINTED/PUBLISHED SOURCES

Book: by one Author

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Reference List: Barker, R., Kirk, J. and Munday, R.J. (1988) Narrative analysis. 3rd ed. Bloomington: Indiana University Press. In text reference for the above examples:

Book: Translated Author (surname), Initials. (Year) Title of book. Translated from (language) by (name of translator) Place of publication: Publisher.

Canetti, E. (2001) The voices of Marrakesh: a record of a visit. Translated from German by J.A.Underwood. San Francisco: Arion.

Multiple Books by same Author published in the same year Author (surname), Initals.(Year a/b/c) Title of book. Place: Publisher.

Soros (1966a) mentioned in his …………… According to Soros (1966b) modern literature……….

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Chapter of edited book or Secondary reference for Book and Journal

When an author refers to another author’s work and the primary source is not available

References List:

N.B. You are advised that secondary referencing should be avoided wherever possible and you should always try to find the original work

Journal Articles

Boughton, J.M. (2002) The Bretton Woods proposal: an in-depth look. Political Science Quarterly, 42(6), pp.564-78.

Foreign Journal

Author (surname), initials. (Year) Title of article [square brackets] Journal title Edition Page number Language of translation (round brackets) References List:

Caballero, D. (2003) [Policing without borders] Cambi16. 1(668) pg. 24 (in Spanish)

Report

Author (surname), initials. (Year) Title of report (underline or italicise) Publisher Report code and number (in brackets) References List:

Dearing, R. (1996) Review of qualifications for 16 – 19 year olds: quality and rigour in A Level examinations. London: SCAA Publications (COM/96/467)

@ICTM PAGE 4 OF 9

Annual Report:

Corporate author, Year of publication. Full title of annual report (if available), Place of Publication: Publisher.

Hounsome, I. W. (2001) Factors affecting the design and performance of flexible ducts in trench reinstatements. Unpublished Ph.D. thesis. Napier University.

Newspaper

Article with author

Author (surname), initials. (Year) Article Title (underline or italicise) Name of Newspaper Date (day, month, year) Page number References List:

Ward, L. (2004) Diploma plan to reward lower and higher abilities. The Guardian.18th February, p.4.

Article without an author

Title of publication Year of publication (in brackets) Title of article (underline or italicise) Day and Month Page number References List:

The Guardian (2004) HSBC CEO has come down at last. 23rd November, p. 10.

@ICTM PAGE 5 OF 9

ELECTRONIC SOURCES

Electronic Book (e-book)

Author (surname), initials. (Year) Title of book (underline or italicise) Name of e-book supplier [Online] Available at: URL (Date accessed) References List:

Articles in Electronic Journal

Haliday, J. (2004) 'Ford dealers test custom cable ads', Advertising age,75 (42), pg. 6. Proquest [Online]. Available at: http://proquest.umi.com/ (Accessed: 23 November 2004).

Article in Internet Journal Database

Lloyd, J. (2001) Blessed are the pure in heart: globalisation. New Statesman, 23 April [Online]. Available at: http://www.findarticles.com/p/articles(Accessed: 23 November 2004).

Online Material in the Internet without Date

Author (surname), initials. (Year) Title of article (underline or italicise) [Online], issue [Online] Available at: URL of web page (Date accessed).

References List:

Lloyd, J. (No Date) Blessed are the pure in heart: globalisation [Online]. Available at: http://www.findarticles.com/p/articles (Accessed: 23 November 2004).

Online Material from Internet without Author’s Name

Name of the Organisation, (Year) Title of article (underline or italicise) [Online] Available at: URL of web page (Date accessed).

References List: Marks & Spencer (2010) Marks and Spencer’s Corporate Strategy [Online]. Available at: http://www.m&s.co.uk/corporate/ (Accessed: 23 November 2004)

@ICTM PAGE 6 OF 9

Images from the Internet

Author (surname), initials. (Year) Title of image (underline or italicise) [Online image] Available at: URL (Date accessed) References List:

Marshall, J. (2000) Cathedral clock. [Online image]. Available at: http://www.westminstercathedral.org.uk/art/art_cathclock.html (Accessed 23 November 2004).

OTHER SOURCES

Computer Programme

References List:

Sanders, B. and William, B. (2001) Java in 2 semesters. (version 2) [computer programme] Microsoft Inc. New York.

Atlas

As for books, using the title page to find the information

References List:

The times atlas of the world (2004) London: Times Books.

Video / Film

Title of programme/film (underline or italicise) Year of distribution (in brackets) Director [Videocassette] Place of distribution: distribution company

References List

All about Eve (1977) Directed by Joseph Mankiewiez [Film]. United States: Twentieth Century Fox.

@ICTM PAGE 7 OF 9

Television programme Title of programme (underline or italicise) Year of publication (in brackets) Name of channel Date of transmission (day/month/time)

References List

Coronation Street (2004) ITV1, 25 November. 19.00hrs.

Audiocassette/CD/DVD

Author (if available, if not use title first) Year of publication (in brackets) Title of recording (underline or italicise) [Audiocassette] Place of publication: publisher. References List

Buenos: world Spanish (1995) [Audiocassette or CD or DVD]. London: BBC Books.

QUOTATIONS AND CITING INSIDE THE TEXT

You can incorporate references and quotations in a number of ways. The following examples use the Harvard Referencing.

Short quotations of a sentence or two are enclosed with quotation marks (“…”) and included in the main text.

Short Quotation

In this example, you are making a direct quote. Up to two lines can be included in the body of the text and must include the page number.

Smith (2003, p. 11) states that “Harvard referencing has to be done accurately”

@ICTM PAGE 8 OF 9

Longer Quotation

This should be indented in a separate paragraph. If part of the quotation is omitted, then this can be indicated by three dots.

Citations (inside the text)  If the originator’s name occurs naturally in the sentence, the year of publication

should follow in brackets. Example

Smith (2003) found that…or, In a recent study Smith (2003) argued that…

 If the author’s name would not naturally be included in the sentence add the author’s

name and year of publication in brackets i.e. Example

Management theories have become much more diverse (Anderson, 1996)

 For publications by two authors:

Example

In a recent study (Smith & Jones, 2003) it was argued that…

 If you are referring to a particular page or section of a work and the author’s name

would naturally be included in the sentence the date and page numbers follow in brackets i.e.

Example

In a recent study Smith (1996, p.26) argued that….

@ICTM PAGE 9 OF 9

 If the author’s name will not normally be included in the sentence all information is given in brackets i.e.

Example

In a recent study (Smith, 1996, p.26) it was argued that…

 In cases where the name of the author cannot be identified, the item should be referred to by title:

Example

Figures in a recent survey (Tourism trends, 2003. p. 12) showed that…

 In cases where the date of an item cannot be identified, the item should be cited:

Example

The earliest report (Smith, no date, p. 231) showed that…

 If the author and date are unknown:

Example

 When you refer to a corporate publication e.g. a company report, use the Company

Name: Example

A survey (Tourism trends, no date) showed that…

The recession affected………..(Hanson Trust plc, 1990)

RT-F4/Innovation and Commercialisation/Module Booklet/Unit 8 Inn Commerce SoW - Feb 18.pdf

Page 1 of 3

ICON College of Technology and Management Pearson BTEC HND in Business (RQF)

Unit 8: Innovation and Commercialisation Schedule of Work

Session: February 2018 This unit is aimed at achieving the following learning outcomes:

LO1 Explain the context for innovation and determine the difference between invention and innovation.

LO2 Explain the different types of innovation.

LO3 Discuss the process required to commercialise innovation.

LO4 Evaluate the range of methods for protecting ideas and understand their advantages and disadvantages.

Programme Title TNA67 Pearson BTEC in Business

Unit number and Title Unit 8 Innovation and Commercialisation

Unit Type Optional

Unit Level Level 5 15 Credit

Sessions Indicative Contents Session Activities

Week1:

LO1

Lecture 1

Unit learning outcome, Syllabus, and Assignment

briefing, Assessment, Reading, Academic Skill, citation

and referencing.

Providing course

work overview

Week 2 LO1

Lecture 2

Definition of innovation and commercialisation,

Challenges created for small businesses.

Definition of invention and how invention is created.

Turning invention into innovation and sources of

innovation.

Lecturing and

group discussion.

(Group

discussion:

Innovation and

entrepreneurship)

Week3:

LO1

Lecture 3

Creating a structure and culture of innovation.

Difference between invention and innovation.

Developing innovation vision and leadership,

entrepreneurial teams and innovation networks.

Activity

Lecture

Seminar on

developing

innovation vision

and leadership

Week 4

LO2

Lecture 4

The use of innovation funnel to manage new

solution/idea development.

Overview of different types of innovation with a focus

on disruptive and incremental innovation and exploring

pros and cons of each approach

(Group discussion

on different types

of innovation.)

Week5:

LO2

Lecture 5

The 4 Ps and innovation space strategy.

The development of frugal innovation in response to

necessity vs market driven innovation.

(Mini exercise)

Formative

Feedback

Brief tutor-led

overview of

assessment

requirements

Academic writing

Week6

LO3

Lecture 6

Adopting the New Product Development (NPD) and

commercialisation funnel to drive new products to

market.

Building the innovation business case, in market testing

and iteration routes to market and market launch

Seminar on NPD

Page 2 of 3

Week7

LO3:

Lecture 7

The impact of advanced technology and information

management on research, testing and development

methods.

Consideration of big data and cognitive systems to

predict behaviours and future trends, social media and

constructing multimedia platforms for promotion and

distribution.

Workshop and

seminar

Formative

Feedback

Brief tutor-led

overview of

assessment

requirements

Academic writing

Week8

LO3

Lecture 8

The reasons why an organization would want to access

funding (e.g. product development, marketing) and the

different types of funding sources available.

Considering of resources a small business may require

to commercialise their offering (e.g. office space etc.)

Activity on

source of funding.

Week 9

LO3

Lecture 9

The definition of intellectual property (IP).

Exploiting knowledge and intellectual property rights.

Overview of key IP tools including copyrights,

trademarks, design rights and patents.

Activities on IP

tools

Week10

LO4

Lecture 10

The role of branding in protecting the innovation and

the limitations of IP in an international context.

The implications of growth of open source and open

innovation platforms upon IP.

Formative

Feedback

Brief tutor-led

overview of

assessment

requirements

Academic writing

Week 11

LO4

Session 11

Reserve class to cover any missing class or

Presentations.

Week 12 Session 12 Revision Formative

Feedback

Week 13 Session 13 Study Week

Week 14 Final Submission Final Draft

submission

Page 3 of 3

Pearson Edexcel Standard Verifier (EE): Cheran Stevens Standard Verifier (EE): Visit Date: TBA Recommended Reading

Text Books:

Bailey, S. (2011), Academic Writing – A Handbook for International Students, London, Routledge

Bessant, J, and Tidd, J. (2015), Innovation and Entrepreneurship. 3 rd

Ed. Oxford: Willey.

Burns, T. and Sinfield, S (2016), Essential Study Skills: The Complete Guide to Success at University, Los

Angeles, SAGE.

Drucker, P. (2006), Innovation and Entrepreneurship. London: Harper Business.

Matthews, C and Brueggemann, R. (2015), Innovation and Entrepreneurship: A Competency Framework.

London: Routledge.

Trott, P. (2012), Innovation Management and New Product Development, Harlow: Pearson.

Valikangas, L and Gibbert, M. (2015), Strategic Innovation: The Definitive Guide to Outlier Strategies

London: Pearson FT Press.

Journal Articles:

The 4Ps of Innovation

https://hbr.org/2010/06/the-4ps-of-innovation

Journals:

Journal of Small Business Management. Oxford: Wiley-Blackwell.

(http://onlinelibrary.wiley.com/journal/10.1111/ (ISSN) 1540-627X)

Websites

The Institute for Small Business and Entrepreneurship (ISBE)

www.isbe.org.uk

Pearson Resources:

Student Portal: HN Global

Please access HN Global for additional resources support and reading for this unit. For further guidance and

support on presentation skills please refer to the Study Skills Unit on HN Global. Link to:

https://www.highernationals.com/

https://hbr.org/2010/06/the-4ps-of-innovation

http://onlinelibrary.wiley.com/journal/10.1111/

http://www.isbe.org.uk/

https://www.highernationals.com/

RT-F4/Innovation and Commercialisation/Module Booklet/Unit 8 Innov and Commerce Assignment Brief Feb 2018 NN.pdf

ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT Pearson BTEC HND in Business

Unit 8: Innovation and Commercialization (RQF) Assignment Brief

Session: February 2018

Programme title TNA67 Pearson BTEC HND in Business (RQF)

Unit number and title Unit 8 Innovation and Commercialization

Unit Type Optional

Unit Level and Credit Value

Level 5 15 Credit

Assessor (s) Prof Zakir Hossain, Dr Uzo Anozie, Mr Harish Jyawali

Issue Date 3 March 2018

Final assignment submission deadline

11-16 June 2018

Late submission deadline

18 June – 23 June 2018

Resubmission deadline TBA

Feedback

In-class feedback will be available from draft submissions on a task-by- task basis as a formative assessment as well as summative feedback in the form of initial submission.

Final feedback will be available within 2 weeks of the assignment submission date.

General Guidelines

 The work you submit must be in your own words. If you use a quote or an illustration from somewhere you must give the source.

 Include a list of references at the end of your document. You must give all your sources of information.

 Make sure your work is clearly presented and that you use correct grammar.

 Wherever possible use a word processor and its “spell-checker”.

Internal verifier Prof Nurun Nabi

Signature (IV of the brief) *

[email protected] Date 1/3/18

Assignment Brief – continued

ICON College of Technology and Management Pearson BTEC HND in Business (RQF)

Unit 9: Innovation and Commercialization Session: February 2018

Coursework Recommended Word limit: 2,000–2,500

Case Study: Healthy Drinks When Mr Daniel Green, the founder of Healthy Juice, started the company two years ago he could not have foreseen the rapid early stage growth that took place. He launched the company with one drink (a healthy milkshake) into the UK market and achieved a dramatic rise in sales in his first year due to the innovative formula and distribution capability. However, as the company enters its third year of trading there has been a significant decrease in sales as a number of competitors have entered the market. Mr Green thinks the answer is to create an innovative new range of drinks, juice or smoothie but does not want to move away from juice. You have been hired as an innovation consultant to evaluate the situation and present recommendations on how the company should move forward. You should answer the following four tasks in a business report format to be presented to Mr Green. The business report will address the following: 1. Explanation of the difference between invention and innovation. 2. The value and importance of innovation to organisations and how this can be embedded within the organisational leadership and culture. 3. The different forms of innovation and the four directions of change an organisation can take. Explain the 4Ps of innovation and how this supports capability and management of innovation. Advise Mr Green which form of innovation he should engage in. 4. Discuss the approaches that Mr Green can take to process innovative ideas, including the innovation funnel and frugal innovation. 5. Explain the steps Mr Green should go through to derive a new and innovative drink.

Assignment Brief – continued

What you must do The following tasks are required to be carried out: LO1 Explain the context for innovation and determine the difference between invention and innovation. Explain innovation and determine its importance to organizations in comparison with invention. [P1]

Explain how organisational vision, leadership, culture and teamwork can shape innovation and commercialisation. [P2] To achieve M1 you should analyse different sources of innovation, and how organisations can foster and develop an environment and culture of innovation.

LO2 Explain the different types of innovation.

Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas. [P3].

Explain developments in frugal innovation and provide examples of how it is used in an organisational context. [P4].

To achieve M2, you should analyse and apply the innovation funnel in organisational context of Mr Green’s healthy drinks. To achieve M3, you should evaluate the role of frugal innovation in organisational context of Mr Green’s healthy drinks.

To achieve D1 you should critically analyse how innovation is developed, embedded and measured in an organisational context of Mr Green’s healthy drinks.

LO3 Discuss the process required to commercialise innovation. Explain the importance of the commercial funnel and the application of new product development (NPD) processing for commercialisation of innovation. [P5] Build an innovation business case for an organisation, including ways to access funding. . [P6]

To achieve M4, you should build a detailed innovation business case which includes how to measure its overall effectiveness using appropriate techniques available to test, iterate and improve.

LO4 Evaluate the range of methods for protecting ideas and understand their advantages and disadvantages.

Evaluate the different tools that Mr Green can use to develop, retain and protect knowledge and intellectual property. [P7]

To achieve M5, you should present supported evidence-based evaluation of these different tools in the context of the wider business environment

Assignment Brief – continued

To achieve D2, you should critically evaluate the nature of innovation and the context in which it is developed, providing evidence-based judgements on how Mr Green can overcome challenges to develop successful innovations.

Grading Criteria

Learning Outcome Pass Merit Distinctions

LO1 Explain the context for innovation and determine the difference between invention and innovation.

P1 Explain innovation and determine its importance to organisations in comparison with invention. P2 Explain how organisational vision, leadership, culture and teamwork can shape innovation and commercialisation.

M1: Analyse different sources of innovation, and how organisations can foster and develop an environment and culture of innovation.

D1: Critically analyse how innovation is developed, embedded and measured in an organisational context.

LO2 Explain the different types of innovation.

P3 Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas. P4 Explain developments in frugal innovation and provide examples of how it is used in an organisational context.

M2 Analyse and apply the innovation funnel in an organisational context. M3 Evaluate the role of frugal innovation in an organisational context.

LO3 Discuss the process required to commercialise innovation

P5 Explain the importance of the commercial funnel and the application of new product development (NPD) processing for commercialisation of innovation. P6 Build an innovation business case for an organisation, including ways to access funding.

M4 Build a detailed innovation business case which includes how to measure its overall effectiveness using appropriate techniques available to test, iterate and improve.

D2 Critically evaluate the nature of innovation and the context in which it is developed, providing evidence-based judgements on how organisations can overcome challenges to develop successful innovations.

LO4 Evaluate the range of methods for protecting ideas and understand their advantages and disadvantages.

P7 Evaluate the different tools that organisations can use to develop, retain and protect knowledge and intellectual property..

M5 Present supported evidence-based evaluation of these different tools in the context of the wider business environment. entrepreneurs

Relevant Information Guide to student 1. Preparation guidelines of the Coursework Document

a. All coursework must be word processed.

Assignment Brief – continued

b. Document margins must not be more than 2.54 cm (1 inch) or less than 1.9cm (3/4 inch). c. The assignment should be in a formal business style using single spacing and font size 12. d. Standard and commonly used type face such as Arial should be used. e. All figures, graphs and tables must be numbered. f. Material taken from external sources must be properly referenced using the Harvard

referencing system. g. You should provide references using the Harvard referencing system. h. Do not use Wikipedia as a reference.

2. Plagiarism and Collusion

3. Submission

a. Initial submission of coursework to the tutors is compulsory in each unit of the course. b. The student must check their assignments on ICON VLE with plagiarism software Turnitin to make

c. All Final coursework must be submitted to the Final submission point into the Unit (not to the Tutor). The student would be allowed to submit only once and that is the final submission.

d. Any computer files generated such as program code (software), graphic files that form part of the coursework must be submitted as an attachment to the assignment with all documentation.

e. Any portfolio for a Unit must be submitted as a hardcopy to examination office. f. The student must attach the tutor’s feedback from the First submission in between the cover page and

the answer in the case of Resubmission. 4. Good practice

a. Make backup of your work in different media (hard disk, memory stick, etc.) to avoid distress for loss or damage of your original copy.

5. Extension, Late Submission and Resubmission

b. Late submission will be accepted and marked according to the College procedure. It should be noted that late submission may not be graded for Merit and Distinction.

d. Only one opportunity will be given for reassessment (resubmission) will be permitted and the assessment will be capped at Pass for the unit. In addition, no resubmission will be allowed in any component of the assessment for which a Pass grade or higher has been achieved.

e. Repeat Units – A student who has failed to achieve a Pass in both Final/Late submission and in the Resubmission must retake the unit the full attendance and payment of the unit fee. The overall unit grade for a successfully completed repeat unit is capped at Pass for that unit. Units can only be repeated once.

Assignment Brief – continued

6. Submission deadlines Online to the ICON College VLE

Final Submission date: 11-16 June 2018 Late Submission date: 18-23 June 2018

Glossary:

RT-F4/Innovation and Commercialisation/Support/Academic Writing 2.pdf

Academic writing skills

Writing, referencing & using electronic resources

“Care in the choice of one’s words is the respect that the mind

pays

to the instrument of its own being”

Agenda

• Writing

– What is academic writing

• Referencing

– Books

– Articles

– Others

• Electronic resources

Academic writing

• What is it all about?

Writing

• Academic writing is Formal

– No exaggeration (Not: extremely important)

– Impersonal (no use of “I am”)

– Direct to the meaning

– No final judgment!! Always allow for arguing and

accepting other opinions!!

WHAT DOES FORMAL WRITING

LOOK LIKE?

• Focus on the issue, not the writer Keeping

your writing objective and impersonal can make

it more convincing.

– It will be argued that the benefits of sales

promotion outweigh the disadvantages.

– I will argue in this assignment that ...

Choose words with precise

meanings

• Avoid words with vague meanings

– Compare:

• The writer looks at the issue

– with

• The writer examines the issue.

• The second option is more formal.

– Formal choices:

• He states … maintains … argues

– Informal choices:

• He says … talks about …

Add some style

• Writing is a very logical exercise, adding

style to it will enhance clearness and

power of convincing…

– Phrases for transition

– Phrases for emphasis

– Phrases for counterpoint

Phrases for transition

• Regarding

• Admittedly

• Consequently

• As a result

• Ultimately

• According to

• For this reason

Phrases for emphasis

• Moreover

• In fact

• Additionally

• For example

• In point of fact

• As a matter of fact

• Indeed

Phrases for counterpoint

• Conversely

• On the other hand

• However

• Nevertheless

• Notwithstanding

• Nonetheless

• Yet

• Despite

• Although

• Instead

Referencing

• What does referencing mean?

• Why should I include references in my

work?

• How do I reference my work?

What does referencing mean?

• When writing an academic piece of work

you need to acknowledge any ideas,

information or quotations which are the

work of other people. This is known as

referencing or citing.

Why should I include references

in my work?

• You should include references in order to:

– acknowledge the work of others

– provide evidence of your own research

– illustrate a particular point

– support an argument or theory

– allow others to locate the resources you have used

• And most importantly:

– avoid accusations of plagiarism

How do I reference my work?

• Your references should be consistent and

follow the same format. Various systems

have been devised for citing references,

but most Schools use the Harvard system

Referencing while writing

• References will be cited in your work in

two places: -

– 1) Where a source is referred to in the text

(Citation)

– 2) In a list (the Bibliography/List of references)

at the end of the assignment.

Citing references in the text

• Citing the author in the text

• Whenever a reference to a source is

made, its author's surname and the year

of publication are inserted in the text as

in the following examples...

Citing references in the text Cont.

– Dogs were the first animals to be

domesticated (Sheldrake, 1999).

• If the author's name occurs naturally in the

sentence the year is given in brackets .>>

– Sheldrake (1999) asserts that dogs were the

first animals to be domesticated.

Using direct quotes

• If you quote directly from a source you must

insert the author’s name, date of publication

and the page number of the quotation.

– ‘The domestication of dogs long predated the

domestication of other animals.’ (Sheldrake, 1999,

p.5).

• The page number should be given at the end of

the quote, in separate brackets if necessary, as

in the example below.

– Sheldrake (1999) asserts that the ‘domestication of

dogs long predated that of other animals.’ (p.15).

Citing works by more than one

author

• If your source has two authors you should

include both names in the text.

– Anderson and Poole (1998) note that a

‘narrow line often separates plagiarism from

good scholarship.’ (p.16).

Citing works by three or more authors

• If there are three or more authors you should

include the first named author and then add ‘et

al.’ in italics followed by a full stop. This is an

abbreviation of ‘et alia’ which means ‘and others’

in Latin.

– In the United States revenue from computer games

now exceeds that of movies (Kline et al., 2003).

Citing works by the same author written

in the same year

• If you cite two or more works written in the same year by the same author, then you must differentiate between them in both the text and your List of references by listing them as a,b,c etc.

– Natural selection can cause rapid adaptive changes in insect populations (Ayala, 1965a) and various laboratory experiments have been conducted to assess this theory (Ayala, 1965b).

Citing secondary sources

– Sheff (1993) notes that Nintendo invested heavily in advertising (cited in Kline et al.,2003, p.118).

Writing a Bibliography or List of

references

• The List of references appears at the end of

your work and gives the full details of everything

that you have cited in the text in alphabetical

order by the author’s surname

Printed books

• Printed books should be referenced using the following format and punctuation.

– Author/editor’s surname and initials.,

– (Year of publication).

– Title of book: including subtitles. (in italics or underlined)

– Edition. (if applicable)

– Place of publication: (followed by a colon)

– Name of publisher.

• Reference to a book with one author

– Sheldrake, R., (1999). Dogs that know when

their owners are coming home: and other

unexplained powers of animals. London:

Arrow Books.

• Reference to a book with two authors

– Anderson, J. and Poole, M., (1998).

Assignment and thesis writing. 3rd ed.

Chichester: John Wiley & Sons.

Print journals and newspapers

• Print journals should be referenced using the following format and punctuation. – Author's surname, initials., (or Newspaper title where

there is no author,)

– (Year of publication).

– Title of article.

– Name of journal. (in italics or underlined),

– Date of publication (if applicable e.g. 18 June)

– Volume number (in bold) (if applicable)

– (Part/issue number), (if applicable)

– Page numbers.

Example

• Britton, A., (2006). How much and how

often should we drink? British Medical

Journal. 332 (7552), 1224-1225.

• Britton, A., (2006). How much and how

often should we drink? British Medical

Journal. Vol. 332, No. 7552, pp.1224-1225

E-journal article accessed via

website on the open Internet

• Britton, A., (2006). How much and how often

should we drink? British Medical Journal. 332

(7552), 1224-1225. [online] Available

from:http://bmj.bmjjournals.com/cgi/content/full/3

32/7552/1224 [Accessed 2 June 2006].

http://bmj.bmjjournals.com/cgi/content/full/332/7552/1224

Websites, web pages

e.g. University of London)

– (Year of publication).

– Title. (in italics or underlined)

– Edition. (if applicable, e.g. update 2 or version 4.1)

– [online]

– Place of publication: (if known)

– Name of publisher. (if known)

– Available from: <URL>

– [Accessed (enter date you viewed the website)].

References

– Holland, M., (2005). Citing references. [online] Poole:

Bournemouth University. Available from:

<http://www.bournemouth.ac.uk/academic_services/d

ocuments/Library/Citing_References.pdf> [Accessed

2 June 2006].

– University of Westminster, (2007). Harry Potter fans to

cast spell over Westminster. [online] London:

University of Westminster. Available from:

<http://www.wmin.ac.uk/page-14428> [Accessed 24

July 2007].

RT-F4/Innovation and Commercialisation/Support/Academic Writing Skills 1.pdf

Dr Marco Angelini,

UCL Transition Programme

With thanks to Dr Colleen McKenna for kind

permission in reproducing her material in this

presentation

Approaches to critical reading and writing

Outline for today

 Introduction

 Considering your writing practices

 Reading as part of writing

 Writing as part of thinking

 Planning

 Organising written work

 Looking at text

 Finding time to write

What type of writer are you?

The diver

The patchworker

The architect

The grand planner

Identifying your writing style

Previous writing experiences …

Reading as part of writing

Critical reading (and how it benefits your writing)

 Helps you determine what is and

what is not a robust piece of

research and writing in your field

 Helps you identify where existing

research has left a gap that your

work could fill

 Attention you pay to writing of others

helps you become more self-aware

of your own written work:

– Sufficient evidence to back up claims;

argumentation/reasoning; becoming

alert to your assumptions and how they

affect your claims

 Wallace and Wray, 2006

Critical reading?

How do you go about

reading an academic text

in your field?

Critical reading? Some possible approaches

How do you go about reading an

academic text?

 Use parts of the text: abstract,

contents, index, sub-headings,

graphs, tables, introduction and

conclusion

 Skim to get the gist of the argument

 Read with questions in mind

Critical reading? Some possible approaches

 Make notes/mind map/ use

highlighter

 Write a summary in your own words

 Write a brief critical response

 Keep note of bibliographic details

Critical reading/ critical writing

Handout – p. 12-13 Wallace and Wray

 As a critical reader, one evaluates

the attempts of others to

communicate with and convince

their target audience by means of

developing an argument;

 As a writer, one develops one's own

argument, making it as strong and

as clear as possible, so as to

communicate with and convince

one's target audience.

– Wallace and Wray, 2006

Free writing

 Way of using writing as a tool for

thinking

 Allows you to write without

constraints.

To do it –

Write continuously, in complete

sentences, anything that occurs to

you.

Free writing

Please write down EITHER

1. An idea / theme from your field

2. Use the topic:

‘what I enjoy about writing…’

Use a free writing technique to write

anything at all that occurs to you

about this topic.

This writing will not be shown to

anyone else.

Planning (Sharples)

 Plans should be flexible

 Through the writing process a deeper

understanding of topic is gained – thus,

planning is increasingly out of step as

writing develops:

– “The act of writing brings into being ideas

and intentions that the writer never had at

the start of the task or that could not be

expressed in any detail.”

Plans

 Free writing

 Notes/sketches

 Idea lists

– Ideas on post-it notes

 Mind map

 Skeleton paper with

sub-headings

 Outline

 Draft text

 Adapted from

Sharples, 1999

 What techniques do you use to

develop ideas in your writing

and/or signpost an argument?

Developing/sustaining argument

 ‘proving’ the thesis statement or

controlling argument

 Signposting argument (Giving the

reader cues; anticipating/referring

back)

 Using words which signal transition or

development – “However”,

“Nevertheless”, “Thus”, “Therefore”,

“Despite”

 Illustrating theoretical positions with

concrete examples

 Generalising from a particular set of

findings if possible

 Using subheadings

 Using/responding to counterarguments

and examples

 Anticipate next paragraph at end of

previous one

Signposting and making transitions

 Links between paragraphs – pick up point from the end of a paragraph at the start of next one.

 Conjunctions to express different kinds of meaning relations

– Temporal: when, while, after, before, then

– Causative: because, if, although, so that, therefore

– Adversative: however, alternatively, although, nevertheless, while

– Additive: and, or, similarly, incidentally

 Signposting through pronouns - this, these, those, that, they, it, them

 Adverbs: Firstly, secondly, etc

 Illustrative: For example, in illustration, that is to say,

Signalling conclusions

Citation

Examples of Citing

• The hip bone is confirmed to be connected to the thigh bone (Funny Bones, 1989).

• The cytoskeletal network acts like the strong bars within a scaffolding (Alberts et al., 1998)

• Slavic-Smith (2006) postulated three classifications for nucleoli in neurons

• It was shown in 2006 by Take That, that a successful comeback tour was possible [1].

Bibliographies

 Alberts, Bray, Johnson, Lewis,

Raff, Roberts & Walter. Essential

Cell Biology, 1st Edition, Garland,

1998

 Dickson, B (2002) Molecular

Mechanisms of Axon Guidance.

Science 298 1959-1964

 [1] www.bbc.co.uk/news

Writing tips

 Write a sentence for each paragraph you want

to write – you can then move them about easily

to form thread of argument

 Index tag the main points you want to use in

your references, so they can be found easily

while writing

 Write the introduction last

 Write the conclusion first

 Read what you have written aloud to see if it

sounds right

 Find best environment for you – when and

where do you work best

 Take a break before trying to do your final check

 Use a writing checklist

Making time for writing

 Write throughout the course

 Do free writing as frequently as

possible

 Snack and binge writing (Rowena

Murray)

 Writing groups

 Don’t wait until you feel ‘ready’ to

write…

Writing for learning

 Read regularly in the field. Find writers whose work you admire and study what and how they do things.

 View writing as part of a process rather than a product

 Find models of good writing in your discipline – analyse it; ask what works and what doesn’t; consider writing style; vocabulary; techniques – metaphor; explanation; signposting

 Reflect on your own writing practices

 Keep a notebook or learning journal

 Explore free writing

To sum up…

1. Asked ‘what type of writer are

you’? What are your writing

practices?

2. What are your approaches to

reading? How might you link

reading and writing?

3. Free writing as a means of

generating ideas

4. Thought about structure of the

essay at the paragraph level and

the overall level

5. Tried to relate these ideas back

to the outline.

Reference

Academic Writing Skills

Presentation - UCL https://www.ucl.ac.uk/transition/study-

skills.../Academic_Writing_Skills_11.pptx

RT-F4/Innovation and Commercialisation/Support/Innovation and Commercialisation - Lecture 1 Introduction.pdf

Lecture 1: Introduction of the Unit

Prepared by: Dr Gilbert Zvobgo

ICTM

 Aim of Session: To introduce the Unit’s content and the Unit

assessment

 1. Ground Rules

 2. Going over the Assignment Brief, including the assessment

criteria of the Unit

 3. Going over the Scheme of Work so that students see how

they could allocate their time wisely.

 4. Going over the Unit Specification so that students have an

overview of the syllabus (also available on ICON VLE).

 5. Library visit to help students check available books in their

Unit and to suggest those they want the College to purchase.

 6. Ask students to register with HN Global at:

Pearson Resources: Student Portal: HN Global (RQF)

https://www.highernationals.com/

 7. Help students understand the importance of academic

skills, academic writing, and referencing (citation and

references).

RT-F4/Innovation and Commercialisation/Support/Lecture 2 Innov and Commerce.pdf

Innovation and Commercialization

Lecture I LO1: LO1: The context for innovation and determine the difference between invention and innovation.

P1: Explain innovation and determine its importance

End of the Session Objectives You will be able to:

• Understand innovation and invention

• Understand commercialization

• Understand differences between invention

and innovation.

• Understand how innovation is created and

the sources of innovation.

Defining Innovation

• All innovation begins with creative ideas . One definition for innovation is the successful implementation of creative ideas within an organization

• Innovation is the process that translates knowledge into economic growth and social well-being. It encompasses a series of scientific, technological, organizational, financial and commercial activities.

• It is the process whereby ideas for new (or improved) products, processes or services are developed and commercialized in the marketplace.

Commercialization

• Commercialization is the process by which a new

product or service is introduced into the general

market. The process of commercialization is

broken into phases, from the initial introduction of

the product through its mass production and

adoption. It takes into account the production,

distribution, marketing, sales and customer

support required to achieve commercial success.

http://www.investopedia.com/terms/m/mass-production.asp

Enabling Innovation

• Nurturing innovation is a process

• In the university context, the process is to transform intellectual resources (thoughts, ideas and insights) into intellectual assets

• Intellectual assets become intellectual property (“IP”) through legal protection.

• IP defines the value on which a company depends for successful commercialization.

Invention vs Innovation

Importance of innovation

• The word is full of problems that are hard to solve and

aren’t going away

• Adapting to Black Swan Events: are random and

unpredictable events that cannot be anticipated and require

us to find new ways of responding and adapting to them,

and their impact, when they happen.

• Taking advantage of the global entrepreneurship

movement

• Flowing with advances in technology

• Adapting to changing workplace dynamics and trends

• Responding to increasing customer expectations and

choices

• Maximizing globalization connectivity

Meaningful Uniqueness

Stimulus & Diversity

Drive Out Fear 1.0

Insight & Market Mining

Patent 1.0 - Tech

Mining

Future Mining

Create Sessions –

Spark Decks

Check Lists, Matrices & I Engineering

Create Sessions - Leadership

Lateral Thinking

Techniques

Triz

Problem Solving

Sessions

CREATE

COMMUNICATE

Customer & Problem

Benefit Promise

true Proof

Complete Ideas - Synergy

Ideas to Paper Free Writing

Clarity - Name and Headline

Advanced Benefit Promise

Secondary Proof

Patent 2.0 - Tech Translation & ®

Communication Translations

Proactive Selling

Meaningful vs. Mindless Marketing

COMMERCIALIZE

SYSTEMS

Innovation and Challenges for Small Business

•Cash flow: Healthy cash flow is a vital part of running a business. It

is, literally, the make or break for many business owners who need to

stay on top of their finances, especially cash flow, to ensure they can

operate successfully.

•Profitability: Beyond just a stable operating budget, the real reason

business owners create and progress their ventures is because

they want to create lasting wealth, driven by profit.

•Productivity: If profitability is about squeezing every cent out of a

dollar, then productivity is getting the most from every minute. With

every digital leap we take, we’re given new challenges to stay

effective, focussed and productive.

Innovation and Challenges for Small Business

• Connections: It’s no secret in the business world that it’s not

what you know, it’s who you know. As social creatures, we

like doing business with people we know and trust.

• Customers: Customers are the heart of a business. How can

we help small business owners attract, retain and maximise

their customers?

• Regulation: Nobody likes red tape. Least of all small

business owners with limited time and multiple aspects of a

business to take care of themselves.

• Processes: From hiring, on boarding, HR, running finances,

doing marketing, paying bills, and then actually doing

their real work – entrepreneurs and business owners are

stretched across many business functions themselves.

Innovation and Challenges for Small Business

• Marketing: Direct, social, online, offline. Marketing comes

in all shapes and colours. According to LinkedIn data,

social media marketing was the single highest in-demand

skill in Australia in 2015, closely followed by digital

media marketing. • Time: While time is infinite, the hours in a day are not. Of

course owners are stretched for time. Having more

time boils down to two steps: Identify the essential.

Eliminate the rest.

• R&D: Given the range of tasks above, it’s no wonder that

innovation – tomorrow’s problem – is often shifted to the

backburner.

How invention is created

Turning invention into innovation

• Disruption – A product, process or service needs to

radically disrupt the status quo of the nature. If the

invention is not interesting, nor does it have unique value

and cost differentiation, it’s just an incremental innovation,

at best. (Incremental innovation is fine, but uninteresting in

the context here. And, it is always a target to be

marginalized by true disruptive innovation.

• Business Model Structure – The invention stands a

greater chance for success if it has obvious and immediate

value to the buyer (B2B or B2C), and that is often a

function of a business model disruption. The price seems

lower, but the business model structure is such that it’s

easier to buy more, more often, and feel good about it.

Turning invention into innovation

• Business Model Infrastructure – Slightly different than the prior

element, this involves leveraging the business model

infrastructure available. Think of this as the shift from cash

registers to Point of Sale (POS) terminals. Or more recently, the

transition from credit cards to the virtual wallet. For most

industries (B2B or B2C), it’s the transition to online, not just for

retail, but in terms of any and all financial transactions and fair

exchange of fees.

• Adoption – The invention must have been lead with customer-

centric design thinking. Leading with marketing, especially in the

social era, is to surround the invention with marketing as strategy

– broad committed effort to gain customer interest, drive market

adoption and build industry velocity. The outcome

is adoption measured in terms of numbers of users and customers.

Turning invention into innovation

• Timing – all of these elements are subject to timing. As

products, services, customers and markets create an

ecosystem of opportunity; it requires that these elements

come together at a common time. They can be driven by

a marketing as strategy, approach. Apple does this well.

Others come together as industries anchored in legacy let

go of the past. Banking, moving toward the virtual wallet

is one example. The transition to SaaS and PaaS cloud

software for ERP, and other critical back-office systems, is

another.

Sources of Innovation

• The Unexpected.

• The Incongruity.

• Process Need.

• Industry and Market Structure Change.

• Demographics.

• Changes in Perception, Meaning, and

Mood.

• New Knowledge.

The Unexpected

• The market place is the number one area to

look for opportunities. A good manager

should be constantly studying the market. Is

a particular product or service in greater or

lesser demand than anticipated? Why? Is

there a way we can exploit this unexpected

success? What has to happen if we want to

convert this success into an opportunity?

The Incongruity

• There is a discrepancy between what is and

what should be. This is a key to developing

wildly successful businesses but it’s tricky.

One of the best places to look for

incongruity is in your own customers. Their

complaints and unmet wants are all the hints

you need.

Process Need

• Process need involves identifying your company’s process

weak spots and correcting or redesigning them. This is a

task oriented solution meaning that the source of

innovation comes from within your existing capabilities

and ways of doing business – not the market.

• An example might be a restaurant that identifies that

people wait too long for their entrees and so decides to hire

another chef to speed up creation times.

• Essentially your company will want to look for all weak

links and eliminate them

Industry and Market Structure Change

• Your industry and the market are in continual flux.

Regulations change and some product lines expand while

others shrink. Firms should continually be on the watch for

this.

• One example is deregulation. When a previously regulated

industry becomes open there is historical precedence for

companies that enter early to be very successful. Other

things to watch out for are the convergence of multiple

technologies and structural problems that occur from time

to time (often immediately following an industry boom).

Demographics

• We constantly see changes occur in populations, income

levels, human capital (education) and age ranges. Smart

firms are constantly paying attention to this.

• When it comes to the baby boomers businesses have been

following them constantly as they got older. At present

they are one of the largest as well as the most affluent

demographic groups with high levels of disposable

income.

• Combining demographic data with segmentation and

targeting is a powerful method of accurately meeting a

target market’s desires.

Changes in Perception, Meaning, and Mood

• Over time populations and people change. The way they

view life changes, where they take their meaning from, and

how they feel about things also is modified over time and

smart companies must pay attention to this in order to

capitalize (and avoid becoming forgotten, a relic of ages

past).

• Here are two really good examples. First is a principle

called “downaging” which refers to people who look at 50

as being 40. Industries have responded to this, most

notably in the cosmetic and personal care industry which

provides plenty of solutions to help these people look

younger. Full industries are creeping up that make people

feel younger. Have you spotted any lately?

RT-F4/Innovation and Commercialisation/Support/Lecture 3 Innov and Commerce.pdf

Innovation and Commercialization

Lecture 2 LO1: The context for innovation and determine the difference between invention and innovation.

P2: vision, leadership, culture and team

End of the Session Objectives You will be able to:

• Understand the structure and culture of

innovation

• Understand vision, leadership and team

• Understand the benefits of vision.

Creating a structure and culture of innovation

• Open Communication Between All Company Levels:

Organizing your company around open communication

works wonders. A framework in which every employee

feels that his or her voice is valued is key to getting your

staff involved. Open up lines of communication between

employees and top management by optimizing corporate

communication channels, holding company wide

events/brainstorming sessions, or by allowing employees

to submit ideas digitally through an employee submission

box. Perhaps teams or middle management can begin

weekly meetings with a brainstorming session, where a

prize is presented for the best new idea in the company.

Encouraging open innovation will keep all employees

involved and support employees in sharing their best ideas.

https://www.qmarkets.net/solutions/by-use-case/marketing-and-strategy/

Creating a structure and culture of innovation

• Create a Climate of Ideas: Innovation happens when people feel

their ideas are valued. Make it ok to brainstorm, to offer a germ of

an idea and to make mistakes. Without the fear of failure, your

employees will be free to come up with something really fresh and

new. Encourage executives and managers to utilize crowdsourcing

as a part of their toolbox for employee engagement. The first step

in getting people to innovate is to create a climate in your

companies where all ideas – the good, the bad and the ugly – are

celebrated. This attitude will cultivate new ideas and will also

foster a can-do, innovative attitude of continuous improvement.

Anita McGahan, in the article “5 Top Gurus Talk Innovation

Principles and Practices” says clearly: “A failed experiment is a

success when it reveals underlying market demand for a new

product or when it shows the true costs of a new process. An

experiment is a true failure when nothing is learned.”

http://www.cio.com/article/2441359/innovation/5-top-gurus-talk-innovation-principles-and-practices.html

Creating a structure and culture of innovation

• Project Promotion: In my experience helping leading

organizations across the globe to overcome their

innovation challenges, end-user engagement is often a

deciding factor. Some project managers will take a very

hands-off approach, expecting the initiative to achieve

instant success as soon as a solution is implemented. This

can sometimes work, but the companies who generate the

strongest results are those who take a serious approach to

marketing the project internally.

Creating a structure and culture of innovation

• Reward Innovation – Not Success: Provide incentives for

coming up with viable ideas. Make the act of creativity

itself the one that is lauded and rewarded in your company.

Let your employees know that when they think out of the

box you are listening and appreciating. Institute an

“Innovator of the Month” award, and occasionally choose

an employee for their level of activity/application rather

than their results. Organize contests for “Best New Idea”

that employees come up with in their free time, and remind

them that you appreciate their contribution to the process,

no matter how big or small.

Creating a structure and culture of innovation

• Build a Diverse Team: Although you ideally will look to

hire employees who share the passion and vision of your

company culture, bringing in individuals with a diverse set

of problem solving skills can catapult your process. Bring

professionals with diverse skill-sets and proficiencies

together in order to create an environment that breaks

traditional boundaries and can offer new solutions and

perspectives.

http://www.forbes.com/sites/theyec/2012/12/31/6-ideas-to-promote-innovation-in-your-workplace-this-year/#3c4293202a50

Creating a structure and culture of innovation

• Set Objectives and Track Progress: One of the most

critical elements of business innovation management is

setting clear goals. Brainstorming in a vacuum can end up

leading nowhere, and experiments without boundaries can

indeed be a drain of resources. Yes, you should let your

people run wild with ideas, but at the same time, provide a

clear structure. Your team came up with an idea for

disruptive innovation? Great! Create a framework in which

you can track progress and test your hypotheses, so you

don’t find yourself on costly tangents that don’t meet

market requirements. Although it may feel

counterintuitive, providing structure enables real creativity

and innovation.

https://www.qmarkets.net/

How to Develop a Vision for Innovation, leaders and teams members

• You cannot expect your team to be innovative if they do

not know the direction in which they are headed.

Innovation must have a purpose. It is up to the leader to set

the course and give a bearing for the future. This is set in

broad terms and is described as the mission, core purpose

or vision for the organization. Although each of these is

different, they share much in common and whichever you

choose, there should be one overarching statement which

defines the direction for the business and which people will

readily understand and remember.

How to Develop a Vision for Innovation, leaders and teams members

• As a leader you don’t want happy, comfortable people in

your team. You want passionate, energetic people who are

keen for the journey and ready to take on a challenge. Your

job is to communicate a destination and to persuade them it

is a target that they can believe in and a goal worth

reaching. You can then ask them how best to reach the

destination. Once you have established a vision that is

inspiring you can ask people to be creative and innovative

in moving towards it.

How to Develop a Vision for Innovation, leaders and teams members

• The vision or mission is the starting point for strategic

plans, objectives and metrics. The key performance

indicators of the business will measure how progress is

made in meeting the goals that flow from the vision.

Striving for the vision will always involve change. It is a

journey from where we are today to a better future. There

is a risk in making the changes necessary on this journey

but the leader has to persuade people that there is a bigger

risk in standing still.

• Vision must be desirable, challenging and believable.

Benefits of desirable vidion

• People share a common goal and have a sense of

embarking on a journey or adventure together. This means

they are more willing to accept the changes, challenges and

difficulties that any journey can entail.

• It means that more responsibility can be delegated. Staff

can be empowered and given more control over their work.

Because they know the goal and direction in which they

are headed, they can be trusted to steer their own raft and

to figure out the best way of getting there.

• People will be more creative and contribute more ideas if

they know that there are unsolved challenges that lie

ahead. They have bought into the adventure so they are

more ready to find routes over and around the obstacles on

the way.

RT-F4/Management Accounting/Module Booklet/Harvard Referencing.pdf

@ICTM PAGE 1 OF 9

ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT

Harvard Referencing and Citation Guidelines

Referencing:

This is a method used to demonstrate to the assessors that a learner has conducted a thorough

and appropriate literature search. Equally, referencing is an acknowledgement that you have

used the ideas and written material belonging to other authors in your own work. As with all

referencing styles, there are two parts: Citing and the Reference List.

Referencing list format:

points or numbering)

PRINTED/PUBLISHED SOURCES

Book: by one Author

@ICTM PAGE 2 OF 9

Reference List: Barker, R., Kirk, J. and Munday, R.J. (1988) Narrative analysis. 3rd ed. Bloomington: Indiana University Press. In text reference for the above examples:

Book: Translated Author (surname), Initials. (Year) Title of book. Translated from (language) by (name of translator) Place of publication: Publisher.

Canetti, E. (2001) The voices of Marrakesh: a record of a visit. Translated from German by J.A.Underwood. San Francisco: Arion.

Multiple Books by same Author published in the same year Author (surname), Initals.(Year a/b/c) Title of book. Place: Publisher.

Soros (1966a) mentioned in his …………… According to Soros (1966b) modern literature……….

@ICTM PAGE 3 OF 9

Chapter of edited book or Secondary reference for Book and Journal

When an author refers to another author’s work and the primary source is not available

References List:

N.B. You are advised that secondary referencing should be avoided wherever possible and you should always try to find the original work

Journal Articles

Boughton, J.M. (2002) The Bretton Woods proposal: an in-depth look. Political Science Quarterly, 42(6), pp.564-78.

Foreign Journal

Author (surname), initials. (Year) Title of article [square brackets] Journal title Edition Page number Language of translation (round brackets) References List:

Caballero, D. (2003) [Policing without borders] Cambi16. 1(668) pg. 24 (in Spanish)

Report

Author (surname), initials. (Year) Title of report (underline or italicise) Publisher Report code and number (in brackets) References List:

Dearing, R. (1996) Review of qualifications for 16 – 19 year olds: quality and rigour in A Level examinations. London: SCAA Publications (COM/96/467)

@ICTM PAGE 4 OF 9

Annual Report:

Corporate author, Year of publication. Full title of annual report (if available), Place of Publication: Publisher.

Hounsome, I. W. (2001) Factors affecting the design and performance of flexible ducts in trench reinstatements. Unpublished Ph.D. thesis. Napier University.

Newspaper

Article with author

Author (surname), initials. (Year) Article Title (underline or italicise) Name of Newspaper Date (day, month, year) Page number References List:

Ward, L. (2004) Diploma plan to reward lower and higher abilities. The Guardian.18th February, p.4.

Article without an author

Title of publication Year of publication (in brackets) Title of article (underline or italicise) Day and Month Page number References List:

The Guardian (2004) HSBC CEO has come down at last. 23rd November, p. 10.

@ICTM PAGE 5 OF 9

ELECTRONIC SOURCES

Electronic Book (e-book)

Author (surname), initials. (Year) Title of book (underline or italicise) Name of e-book supplier [Online] Available at: URL (Date accessed) References List:

Articles in Electronic Journal

Haliday, J. (2004) 'Ford dealers test custom cable ads', Advertising age,75 (42), pg. 6. Proquest [Online]. Available at: http://proquest.umi.com/ (Accessed: 23 November 2004).

Article in Internet Journal Database

Lloyd, J. (2001) Blessed are the pure in heart: globalisation. New Statesman, 23 April [Online]. Available at: http://www.findarticles.com/p/articles(Accessed: 23 November 2004).

Online Material in the Internet without Date

Author (surname), initials. (Year) Title of article (underline or italicise) [Online], issue [Online] Available at: URL of web page (Date accessed).

References List:

Lloyd, J. (No Date) Blessed are the pure in heart: globalisation [Online]. Available at: http://www.findarticles.com/p/articles (Accessed: 23 November 2004).

Online Material from Internet without Author’s Name

Name of the Organisation, (Year) Title of article (underline or italicise) [Online] Available at: URL of web page (Date accessed).

References List: Marks & Spencer (2010) Marks and Spencer’s Corporate Strategy [Online]. Available at: http://www.m&s.co.uk/corporate/ (Accessed: 23 November 2004)

@ICTM PAGE 6 OF 9

Images from the Internet

Author (surname), initials. (Year) Title of image (underline or italicise) [Online image] Available at: URL (Date accessed) References List:

Marshall, J. (2000) Cathedral clock. [Online image]. Available at: http://www.westminstercathedral.org.uk/art/art_cathclock.html (Accessed 23 November 2004).

OTHER SOURCES

Computer Programme

References List:

Sanders, B. and William, B. (2001) Java in 2 semesters. (version 2) [computer programme] Microsoft Inc. New York.

Atlas

As for books, using the title page to find the information

References List:

The times atlas of the world (2004) London: Times Books.

Video / Film

Title of programme/film (underline or italicise) Year of distribution (in brackets) Director [Videocassette] Place of distribution: distribution company

References List

All about Eve (1977) Directed by Joseph Mankiewiez [Film]. United States: Twentieth Century Fox.

@ICTM PAGE 7 OF 9

Television programme Title of programme (underline or italicise) Year of publication (in brackets) Name of channel Date of transmission (day/month/time)

References List

Coronation Street (2004) ITV1, 25 November. 19.00hrs.

Audiocassette/CD/DVD

Author (if available, if not use title first) Year of publication (in brackets) Title of recording (underline or italicise) [Audiocassette] Place of publication: publisher. References List

Buenos: world Spanish (1995) [Audiocassette or CD or DVD]. London: BBC Books.

QUOTATIONS AND CITING INSIDE THE TEXT

You can incorporate references and quotations in a number of ways. The following examples use the Harvard Referencing.

Short quotations of a sentence or two are enclosed with quotation marks (“…”) and included in the main text.

Short Quotation

In this example, you are making a direct quote. Up to two lines can be included in the body of the text and must include the page number.

Smith (2003, p. 11) states that “Harvard referencing has to be done accurately”

@ICTM PAGE 8 OF 9

Longer Quotation

This should be indented in a separate paragraph. If part of the quotation is omitted, then this can be indicated by three dots.

Citations (inside the text)  If the originator’s name occurs naturally in the sentence, the year of publication

should follow in brackets. Example

Smith (2003) found that…or, In a recent study Smith (2003) argued that…

 If the author’s name would not naturally be included in the sentence add the author’s

name and year of publication in brackets i.e. Example

Management theories have become much more diverse (Anderson, 1996)

 For publications by two authors:

Example

In a recent study (Smith & Jones, 2003) it was argued that…

 If you are referring to a particular page or section of a work and the author’s name

would naturally be included in the sentence the date and page numbers follow in brackets i.e.

Example

In a recent study Smith (1996, p.26) argued that….

@ICTM PAGE 9 OF 9

 If the author’s name will not normally be included in the sentence all information is given in brackets i.e.

Example

In a recent study (Smith, 1996, p.26) it was argued that…

 In cases where the name of the author cannot be identified, the item should be referred to by title:

Example

Figures in a recent survey (Tourism trends, 2003. p. 12) showed that…

 In cases where the date of an item cannot be identified, the item should be cited:

Example

The earliest report (Smith, no date, p. 231) showed that…

 If the author and date are unknown:

Example

 When you refer to a corporate publication e.g. a company report, use the Company

Name: Example

A survey (Tourism trends, no date) showed that…

The recession affected………..(Hanson Trust plc, 1990)

RT-F4/Management Accounting/Module Booklet/Unit 5 Mgmnt Accounting Assignment Brief - Feb 2018 NN.pdf

ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT Pearson BTEC HND in Business (RQF)

Unit 5 Management Accounting

Assignment Brief Session: February 2018

Programme title TNA67 Pearson BTEC HND in Business

Unit number and title Unit 5 Management Accounting

Unit Type Core

Unit Level and Credit Value

Level 4 15 Credit

Assessor (s) Mr A Appiah, Dr A Akanga, Mr K Barimah, Mr B Klichev, Mr Dan Sookun

Issue Date 3 March 2018

Final assignment submission deadline

11-16 June 2018

Late submission deadline

18-23 June 2018

Resubmission deadline TBA

Feedback

Formative feedback will be available in class during the semester.

Final feedback will be available within 2 weeks of the assignment submission date.

General Guidelines

 The work you submit must be in your own words. If you use a quote or an illustration from somewhere you must give the source.

 Include a list of references at the end of your document. You must give all your sources of information.

 Make sure your work is clearly presented and that you use correct grammar.

 Wherever possible use a word processor and its “spell-checker”.

Internal verifier Prof Nurun Nabi

Signature (IV of the brief) *

[email protected] Date 1/3/18

mailto:[email protected]

Assignment Brief – continued

ICON College of Technology and Management Pearson BTEC HND in Business (RQF)

Unit 5: Management Accounting (L4) Session: February 2018

Coursework Recommended Word limit: 3,000–4,000

This Unit will be assessed by assignment. You are strongly advised to read “Preparation guidelines of the Coursework Document” before answering your assignment. ASSIGNMENT

Assignment Context and Business Scenario

You have been the Management Accountant of Zylla Company for a number of years. It is a large multinational organisation, which has undergone a number of changes over some time, the result of expansion into new markets and locations, restructuring and acquisitions. The Finance Director considers that the existing management accounting system needs to be revamped to make it more relevant to the changes that have occurred. You are required to review the existing system, and conduct a research on developments in

management accounting, with the view to recommending comprehensive changes to Zylla

Company management accounting system, and preparing a report of same to the Finance

Director for review and onward submission to the Board of Directors.

Your report must consider a number of themes in management accounting. Specifically it must

recommend changes that cover the following:

1. Management accounting and management accounting systems,

2. Management accounting techniques for determining costs,

3. Management accounting planning tools, and

4. Response to financial problems using management accounting.

Your report must also provide examples of income statements prepared on the basis of

absorption costing and marginal costing. In order to do this, you may use the data attached to

this assignment brief, or you may collect your own data for that purpose. These may be

presented as appendices appropriately referenced in the body of your report.

Your report must be appropriately structured. The following is suggested as a guide of how a

good report should be:

 An introductory section with brief a description of Zylla Company and what the report is

about.

 The main section (body) of the report, which may be subdivided on the basis of the four

themes listed above corresponding to the tasks on the next page.

 A concluding section that briefly summarises your work.

Assignment Brief – continued

What you must do

The following tasks are required to be carried out: LO1: Demonstrate an understanding of management accounting systems Explain management accounting and give the essential requirements of different types of management accounting. [P1]. Explain different methods used for management accounting reporting. [P2]. To achieve M1, you should evaluate the benefits of management accounting systems and their application within an organisational context. To achieve D1, you should provide a critical evaluation of how management accounting systems and management accounting reporting are integrated within organisational processes. LO2: Apply a range of management accounting techniques. Calculate costs using appropriate techniques of cost analysis to prepare an income statement using marginal and absorption costing. (You may use attached data or your own) [P3]. To achieve M2, you should apply a range of management accounting techniques and produce appropriate financial reporting documents. To achieve D2, you should produce financial reports that accurately apply and interpret data for a

range of business activities. LO3: Explain the use of planning tools used in management accounting

Explain the advantages and disadvantages of different types of planning tools used in

budgetary control [P4].

To achieve M3, you should analyse the use of different planning tools and their application for preparing and forecasting budgets. LO4: Compare ways in which organisations could use management accounting to respond to financial problems. Compare how organisations are adapting management accounting systems to respond to financial problems. [P5]. To achieve M4, you should analyse how, in responding to financial problems, management accounting can lead organisations to sustainable success.

To achieve D3, you should critically evaluate how planning tools for accounting respond appropriately to solving financial problems to lead organisations to sustainable success.

Assignment Brief – continued

Grading Criteria

Learning Outcome Pass Merit Distinction

LO1 Demonstrate an

understanding of

management

accounting systems..

P1 Explain

management

accounting and give

the essential

requirements of

different types of

management

accounting systems.

P2 Explain different

methods used for

management

accounting reporting.

M1 Evaluate the

benefits of

management

accounting systems

and their application

within an organisational

context.

D1 Critically evaluate

how management

accounting systems

and management

accounting reporting is

integrated within

organisational

processes.

LO2 Apply a range of

management

accounting techniques

P3 Calculate costs

using appropriate

techniques of costs

analysis to prepare an

income statement

using marginal and

absorption costs.

M2 Accurately apply a

range of management

accounting techniques

and produce

appropriate financial

reporting documents

D2 Produce financial

reports that accurately

apply and interpret

data for a range of

business activities

LO3 Explain the use of

planning tools used in

management

accounting

P4 Explain the advantages and disadvantages of different types of planning tools used in budgetary control.

M3 Analyse the use of

different planning tools

and their application

for preparing and

forecasting budgets.

D3 Evaluate how

planning tools for

accounting respond

appropriately to solving

financial problems to

lead organisations to

sustainable success. LO4 Compare ways in

which organisations

could use management

accounting to respond

to financial problems

P5 Compare how organisations are adapting management accounting systems to respond to financial problems.

M4 Analyse how, in responding to financial problems, management accounting can lead organisations to sustainable success.

Assignment Brief – continued

Relevant Information Guide to student 1. Preparation guidelines of the Coursework Document

referencing system. g. You should provide references using the Harvard referencing system. h. Do not use Wikipedia as a reference.

2. Plagiarism and Collusion

Any act of plagiarism or collusion will be seriously dealt with according to the College regulations. In this context the definition and scope of plagiarism and collusion are presented below: Plagiarism is presenting somebody else’s work as your own. It includes copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort. Collusion is copying another student’s coursework; stealing coursework from another student and submitting it as your own work. Suspected plagiarism or collusion will be investigated and if found to have occurred will be dealt with according to the College procedure. (For details on Plagiarism & Collusion please see the Student Handbook)

3. Submission

a. Initial submission of coursework to the tutors is compulsory in each unit of the course. b. Student must check their assignments on ICON VLE with plagiarism software Turnitin to

make sure the similarity index for their assignment stays within the College approved level. A student can check the similarity index of their assignment three times in the Draft Assignment submission point located in the home page of the ICON VLE.

c. All Final coursework must be submitted to the Final submission point into the unit (not to the Tutor). A student would be allowed to submit only once and that is the final submission.

d. Any computer files generated such as program code (software), graphic files that form part of the coursework must be submitted as an attachment to the assignment with all documentation.

e. Any portfolio for a unit must be submitted as a hardcopy to the Examination Office. f. The student must attach a tutor’s comment in between the cover page and the answer in the

case of Resubmission. 4. Good practice

a. Make backup of your work in different media (hard disk, memory stick, etc.) to avoid distress due to loss or damage of your original copy.

Assignment Brief – continued

5. Extension and Late Submission and Resubmission

a. If you need an extension for a valid reason, you must request one using an Exceptional Extenuating Circumstances (EEC) form available from the Examination Office and ICON VLE. Please note that the tutors do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick.

b. Late submission will be accepted and marked according to the College procedure. It is noted that late submission may not be graded for Merit and Distinction.

c. All Late coursework must be submitted to the Late submission point into the unit (not to the Tutor). A student will be allowed to submit only once and that is the final submission.

e. Repeat Units – A student who has failed to achieve a Pass in both Final/Late submission and in the Resubmission must retake the unit with full attendance and payment of the unit fee. The overall unit grade for a successfully completed repeat unit is capped at Pass for that unit. Units can only be repeated once.

6. Submission deadlines

Submission deadlines Online to the ICON College VLE Final Submission date: 11-16 June 2018 Late Submission date: 18-23 June 2018

Glossary:

Analyse: Break an issue or topic into smaller parts by looking in depth at each part. Support each part with arguments and evidence for and against (Pros and cons). Break something down into its components; examine factors methodically and in detail to recognise patterns by applying concepts and making connections to predict consequences. Apply: Use a particular method/technique to solve a problem Critically Evaluate/Analyse: When you critically evaluate you look at the arguments for and against an issue. You look at the strengths and weaknesses of the arguments. Conduct: To do or carry out, to organise and perform a particular activity Determine: Find a solution by argument, making clear your reasoning (e.g., determine the type of event that has occurred, based on the data provided”) (application) or “Determine the most appropriate course of action for the company, within the given constraints” (higher order skills). Demonstrate: Show that you can do a particular activity or skill. Provide several relevant examples or related evidence which clearly support the arguments you are making. Explain: When you explain you must say why it is important or not important. Clarify a topic by giving a detailed account as to how and why it occurs, or what is meant by the use of this term in a particular context. Identify: When you identify you look at the most important points. Establish or indicate the origin, nature or definitive character of something

RT-F4/Management Accounting/Module Booklet/Unit 5 Mngmt Accounting SoW - Feb 18.pdf

Page 1 of 5

ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT Pearson BTEC HND in Business (RQF)

Unit 5 Management Accounting Scheme of Work

Session: February 2018

This unit is aimed at achieving the following learning outcomes: LO1: Demonstrate an understanding of management accounting systems LO2: Apply a range of management accounting techniques. LO3: Explain the use of planning tools used in management accounting LO4: Compare ways in which organisations could use management accounting to respond to financial problems

Programme Title: TNA67 Pearson BTEC HND in Business

Level:

Unit number and Title Unit 5 Management Accounting

Unit Type Core

Level 4

Unit Level and Credit Value Level 4 15 Credit

Sessions Learning Outcomes Session Activities

Session 1 Lecture 2 hours Tutorial 2 hours

LO1: To introduce the Unit’s content and the Unit assessment

Introduction to the Unit learning outcome, Syllabus, and assignment briefing Reading, Academic Skill, citation and referencing, group formation.

Session 2 Lecture 2 hours Tutorial 2 hours

LO1: Demonstrate an understanding of management accounting systems

Introduction to management accounting: Definition of management accounting and

systems; importance of integrating these

within the organisation. Origin, role and

principles of management accounting;

distinction between financial accounting

Sample activities: Mini case report writing on variance analysis

Group activity: Events and epochs in the development

of management accounting and the relevant

management accounting principles based on Johnson

and Kaplan (1987), post-war Japanese Quality

Management, Marketing and Strategic Management

era to modern IT-driven Integrated Planning and

Production and CIM

Session 3 Lecture 2 hours Tutorial 2 hours

LO1: Demonstrate an understanding of management accounting systems Topic: Different types of management accounting systems

Management accounting systems:

Cost-accounting systems, inventory management

systems, job-costing systems and price-optimising

systems

Sample activities: Question and answer activity on types of management

accounting systems

Group activity – Whether any or all of these systems fit

Johnson and Kaplan’s “Lost Relevance” and why

Session 4: Lecture 2 hours Tutorial 2 hours

LO1: Demonstrate an understanding of management accounting systems Topic: Presentation of financial information

Why information should be relevant to the user, up to

date, reliant and accurate

Why the way in which information is presented must

be understandable

Differences types of managerial accounting reports Sample activities: Group activity – Relative merits and demerits of different types of managerial accounting reports

Page 2 of 5

Class discussion – Why should financial information possess such attributes as relevance, reliability, timeless accuracy and understandability? Formative Feedback Brief tutor-led overview of assessment requirements Academic writing

Session 5: Lecture 2 hours Tutorial 2 hours

LO2: Apply a range of management accounting techniques Topic: Microeconomic techniques

What is meant by cost? Different costs and analysis. Cost-volume-profit analysis, flexible budgeting and cost variances. Applying absorption and marginal costing Formative feedback

Session 6: Lecture 2 hours Tutorial 2 hours

LO2: Apply a range of management accounting techniques Topic: Product costings

Fixed and variable costs, cost allocation.. Normal and standard costing, activity-based costing (ABC) and role of costing in setting price. Group activity – Comparison of ABC and traditional costing methods (marginal and absorption costing

Session 7 Lecture 2 hours Tutorial 2 hours

LO2: Apply a range of management accounting techniques Topic: Cost of inventory

Definition and meaning of inventory costs and different

types of invent costs. The benefits of reducing inventory costs. Valuation methods. Cost variances. Overhead costs. Sample activities: Question and answer activity on limitations of the economic order quantity method and how managers may overcome these in applying the method Formative feedback

Session 8 Lecture 2 hours Tutorial 2 hours

LO3: Explain the use of planning tools used in management accounting Topics:

 Using budgets for planning and control

 Pricing

Preparing a budget. Different types of budgets

(e.g. capital and operating). Alternative methods

of budgeting. Behavioural implications of budgets. Pricing strategies. How do competitors determine their prices? Supply and demand considerations. Sample activities: Class question and answer activity – Discuss the difference between budgeting and budgetary control Group activity – Comparing and contrasting different pricing strategies. Formative Feedback Brief tutor-led overview of assessment requirements Academic writing

Session 9: Lecture 2 hours Tutorial 2 hours

LO3: Explain the use of planning tools used in management accounting Topics:

 Common costing systems

 Strategic planning

Actual costing, normal costing and standards costing systems. How cost systems differ depending on the costing activity: job costing, process costing, batch costing and contract costing. Applying PEST, SWOT, balance scorecard or Porter’s Five Forces analysis to the financial position of an organisation. Sample activities: Question and answer activity – what are the strengths

Page 3 of 5

weaknesses of PESTEL analysis? Group discussion – How costing systems differ on the basis of costing activity

Session 10: Lecture 2 hours Tutorial 2 hours

LO4: Common ways in which organisations could use management accounting to respond to financial problems Topics:

 Identifying financial problems

 Financial governance

Using benchmarks. Key performance indicators (financial non-financial) and budgetary targets to identify variances and problems. Definition of financial governance and how these can be used to pre-empt or prevent financial problems. Using financial governance to monitor strategy. Sample activities: Group activity – Usefulness of financial governance in monitoring strategy. Class discussion – Are non-financial performance indicators as important as financial indicators in performance management and control? Formative feedback

Session 11 Lecture 2 hours Tutorial 2 hours

LO4: Common ways in which organisations could use management accounting to respond to financial problems Topics:

 Management accounting skills set

 Effective strategies and systems

What are the characteristics of an effective management accountant? How can these skills be used to prevent and/or deal with problems? The development of strategies and systems which require effective and timely reporting, full disclosure of financial positions and are responsibly owned and governed. Sample activities: Student debate – What skills set should an effective management accountant possess? Are practical skills as important as conceptual and intellectual ones? Formative Feedback Brief tutor-led overview of assessment requirements Academic writing

Session 12 Lecture 2 hours Tutorial 2 hours

Revision Session

Reserve class to cover any missing class and revision.

Session 13 Study week

Formative feedback

Session 14 Final Assignment Submission

Page 4 of 5

Pearson Edexcel Standard Verifier (EE): Cheran Stevens Standard Verifier (EE): Visit Date: TBA Recommended Reading Text Books: Bailey, S. (2011), Academic Writing – A Handbook for International Students, London, Routledge Burns, T. and Sinfield, S (2016), Essential Study Skills: The Complete Guide to Success at University, Los Angeles, SAGE. Drury, C. (2015), Management and Cost Accounting. 9th Ed., London: CengGe Learning. Edmonds, T. and Olds, P. (2013), Fundaments of Managerial Accounting Concepts. 7th Ed., Maidenhead: McGraw-Hill. Horngren, C, Sunden, G, Stratton, N, Burgstalher, D, and Schatzcerg, J. (2013), Introduction to Management Accounting. Global Ed. Harlow: Pearson. Seal, W, et el. (2014), Management Accounting. 5th Ed., Maidenhead: McGraw-Hill. Swales, J. M and Feak, C, B. (2012), Academic Writing for Graduate Students, Ann Abor, The University of Michigan. Articles Online Johnson, H. Thomas; Kaplan, Robert S. (1987). Relevance Lost: The Rise: and Fall of Management Accounting, Management Accounting; Jan 1987; 68, 7; ABI/INFORM Global pg. 22 http://coin.wne.uw.edu.pl/pmodzelewski/The%20rise%20and%20fall%20of%20management%20accountin g.pdf Brewer, P C (2017). Redefining Management Accounting, IFAC http://www.ifac.org/system/files/publications/files/redefining-management-accounting.pdf Nelson Maina Waweru (2010). The origin and evolution of management accounting: a review of the theoretical framework. Problems and Perspectives in Management (open-access)

https://businessperspectives.org/media/zoo/applications/publishing/templates/article/assets/js/pdfjs/web/34 11 Chapters from Books Online An introduction to management and cost accounting: cost terms, systems design and cost behaviour http://www.mheducation.co.uk/he/chapters/9780077138424.pdf Chapter 2 Management Accounting http://www.springer.com/cda/content/document/cda_downloaddocument/9783642332081- c1.pdf%3FSGWID%3D0-0-45-1364127-p174609616 Journals: Harvard Business Review (available in ICON Library) Economist (available in ICON Library News Papers The Financial Times Business http://www.ft.com/home/uk Evening Standard Business http://www.standard.co.uk/business/

http://coin.wne.uw.edu.pl/pmodzelewski/The%20rise%20and%20fall%20of%20management%20accounting.pdf

http://www.ifac.org/system/files/publications/files/redefining-management-accounting.pdf

https://businessperspectives.org/media/zoo/applications/publishing/templates/article/assets/js/pdfjs/web/3411

http://www.mheducation.co.uk/he/chapters/9780077138424.pdf

http://www.springer.com/cda/content/document/cda_downloaddocument/9783642332081-c1.pdf%3FSGWID%3D0-0-45-1364127-p174609616

http://www.ft.com/home/uk

http://www.standard.co.uk/business/

Page 5 of 5

CITY A.M. Business http://www.cityam.com/ Pearson Resources: Student Portal: HN Global Please access HN Global for additional resources support and reading for this unit. For further guidance and support on presentation skills please refer to the Study Skills Unit on HN Global. Link to: https://www.highernationals.com/

http://www.cityam.com/

https://www.highernationals.com/

RT-F4/Management Accounting/Support/absorption marginal costing class exercise answers.pdf

ANSWER TO Class work

variable cost (5+8+2) 15

fixed cost per unit 5

Total cost per unit 20

MARGINAL COSTING PROFIT STATEMENT

£ £

SALES (1,500 X35) 52,500

COST OF SALE

OPENING STOCK 0

production(2,000 x15) 30,000

closing stock(500 x15) -7,500

-22,500

contribution 30,000

Fixed production cost (actual) -15,000

selling and distribution costs

fixed 10,000

Variable(15% x52,500) 7,875

-17,875

Loss for the period -2,875

absorption costing profit statement

£ £

SALES (1,500 X35) 52,500

COST OF SALE

OPENING STOCK 0

production (2000 x 20) 40,000

closing stock(500 x 20) -10,000

-30,000

gross profit 22,500

over / under absorption

actual overheads 15,000

absorbed overheads (5 x2,000) 10,000

-5,000

17,500

selling and distribution costs

fixed 10,000

Variable(15% x52,500) 7,875

-17,875

Loss for the period -375

Reconciliation of profits

Absorption costing profit -375

fixed cost in closing inventory (5 x 500 ) -2,500

marginal costing profit -2,875

RT-F4/Management Accounting/Support/absorption and marginal costing answer.pdf

ANSWER TO Class work

variable cost (5+8+2) 15

fixed cost per unit 5

Total cost per unit 20

MARGINAL COSTING PROFIT STATEMENT

£ £

SALES (1,500 X35) 52,500

COST OF SALE

OPENING STOCK 0

production(2,000 x15) 30,000

closing stock(500 x15) -7,500

-22,500

contribution 30,000

Fixed production cost (actual) -15,000

selling and distribution costs

fixed 10,000

Variable(15% x52,500) 7,875

-17,875

Loss for the period -2,875

absorption costing profit statement

£ £

SALES (1,500 X35) 52,500

COST OF SALE

OPENING STOCK 0

production (2000 x 20) 40,000

closing stock(500 x 20) -10,000

-30,000

gross profit 22,500

over / under absorption

actual overheads 15,000

absorbed overheads (5 x2,000) 10,000

-5,000

17,500

selling and distribution costs

fixed 10,000

Variable(15% x52,500) 7,875

-17,875

Loss for the period -375

Reconciliation of profits

Absorption costing profit -375

fixed cost in closing inventory (5 x 500 ) -2,500

marginal costing profit -2,875

RT-F4/Management Accounting/Support/absorption and marginal costing.xlsx

Sheet1

Income statement for the year using absorption costing principles
	cost for one unit (5+8+2+5 = 20)
						£
Sales revenue (1,500 x £35)						52,500
Cost of sale					£
	opening stock				0
	production (2000 x 20)				40,000
	closing stock (500 x20)				-10,000
						-30,000
	Gross profit					22,500
check for over/under charging
	charged (2000 x£5)				10,000
	actual overhead cost				15,000
					5,000	-5,000
						17,500
	distribution costs
fixed cost					10,000
variable cost (15% x 52,500)					7,875
						-17,875
		Loss for the period				-375
	Income statement for the year using marginal costing principles
	cost for one unit (5+8+2= 15)					£
Sales revenue (1,500 x £35)						52,500
cost of sale					£
	opening stock				0
	production (2,000 x 15)				30000
	closing stock (500 x 15)				-7500
						-22500
			contribution			30,000
	Less: actual fixed overhead cost					-15000
	profit before distribution cost					15,000
	distribution costs
fixed cost					10000
variable cost (15% x 52,500)					7875
						-17875
			Loss for the year			-2,875
		last year		current	next year
			opening
			styock			absorption costing	-375
				0	500x5
					2500
		reconciliation
		absorption costing			-375
		opening stock			0
		closing stock (500 x 5)			-2500
					-2875
		marginal costing			-2875

RT-F4/Management Accounting/Support/absorption costiong answer statement.pdf

ABSORPTION COSTING STATEMENT

Note:

In absorption costing, stock is valued at full cost of production.

That is, we include both fixed cost and variable cost of production.

We need to know the fixed cost of production per unit

To get this, we need to calculate the overhead absorption rate (OAR)

The basis of absorption given in the question are:

budgeted overhead cost of: £300,000 and

budgeted production of 150,000 units

OVERHEAD ABSORPTION RATE (OAR) is calculated as:

BUDGETED OVERHEAD

BUDGETED LEVEL OF ACTIVITY

Note:

Level of activity (also know as basis of absorption) could be :

- Machine hours, labour hours, number of units produced etc.

This will be given in the question.

Hence OAR IS £300,000 / 150,000 UNITS

OAR is £2 PER UNIT

Hence full cost of production is:

Variable cost per unit (Given in question) 6

Fixed OAR 9calculated) 2

Full cost of producing one unit of the procust 8

In absorption costing, sales less full cost of sale is called gross profit, not contribution

period one

£000' £000'

Sales (150,000 x £10) 1,500

Less cost of sale

(valued at full cost of production)

Opening stock: None (as per question) 0

production stock cost: (150x £ 8) 1,200

Closing stock cost: All units produced are sold 0

Total cost of sale -1,200

Gross profit 300

Adjust for under / over absorption (working) 0

300

Less: non-manufacturing costs (given in question) -100

Net profit 200

working: Over /under absorption

ACTUAL OVERHEAD 300

absorbed (£2 x 150) 300

over absorbed 0

NB: Absorbed overhead is (OAR X units produced)

Also, note that absorbed overhead is the same as overhead charged during the period

period two

£000' £000'

Sales (£10 x 120,000) 1,200

Less cost of sale

(valued at full cost of production)

opening stock: 0

production stock cost: (150 x£8) 1,200

Closing stock cost: (30 x £8) -240

Total cost of sale -960

Gross profit 240

Adjust for under / over absorption (working) 0

240

Less: non-manufacturing costs (given in question) -100

Net profit 140

working: Over /under absorption

ACTUAL OVERHEAD 300

absorbed (£2 x 150) 300

over absorbed 0

NB: Absorbed overhead is (OAR X units produced)

period three

£000' £000'

Sales (£10 x 180,000) 1,800

Less cost of sale

(valued at full cost of production)

opening stock: (30 x £8 ) 240

production stock cost: (150 x £8 ) 1,200

Closing stock cost: 0

Total cost of sale -1,440

Gross profit 360

Adjust for under / over absorption (working) 0

360

Less: non-manufacturing costs (given in question) -100

Net profit 260

working: Over /under absorption

ACTUAL OVERHEAD 300

absorbed (£2 x 150) 300

over absorbed 0

NB: Absorbed overhead is (OAR X units produced)

period four

£000' £000'

Sales (£10 x 150,000) 1,500

Less cost of sale

(valued at full cost of production)

opening stock: 0

production stock cost: (150 x £8) 1,200

Closing stock cost: 0

Total cost of sale -1,200

Gross profit 300

Adjust for under / over absorption (working) 0

300

Less: non-manufacturing costs (given in question) -100

Net profit 200

working: Over /under absorption

ACTUAL OVERHEAD 300

absorbed (£2 x 150) 300

over absorbed 0

NB: Absorbed overhead is (OAR X units produced)

period five

£000' £000'

Sales (£10 x 140,000) 1,400

Less cost of sale

(valued at full cost of production)

opening stock: 0

production stock cost: (170 x £8 ) 1,360

Closing stock cost: (30 x £8 ) -240

Total cost of sale -1,120

Gross profit 280

Adjust for under / over absorption (working) 40

320

Less: non-manufacturing costs (given in question) -100

Net profit 220

working: Over /under absorption

ACTUAL OVERHEAD 300

absorbed (£2 x 170) 340

over absorbed 40 extra profit for the period

period six

£000' £000'

Sales (£10 x 160,000) 1,600

Less cost of sale

(valued at full cost of production)

opening stock: (30 x £8) 240

production stock cost: 1,120

Closing stock cost: (10 x £8) -80

Total cost of sale -1,280

Gross profit 320

Adjust for under / over absorption (working) -20

300

Less: non-manufacturing costs (given in question) -100

Net profit 200

working: Over /under absorption

ACTUAL OVERHEAD 300

absorbed (£2 x 140) 280

over absorbed 20 extra cost for the period

summary statement

period period period period period period

1 2 3 4 5 6

£000' £000' £000' £000' £000' £000'

Sales 1,500 1,200 1,800 1,500 1,400 1,600

Less cost of sale

(valued at full cost

of production)

opening stock: 0 0 240 0 0 240

production stock cost: 1,200 1,200 1,200 1,200 1,360 1,120

Closing stock cost: 0 -240 0 0 -240 -80

-1,200 -960 -1,440 -1,200 -1,120 -1,280

Total cost of sale

Gross profit 300 240 360 300 280 320

Adjust for 0 0 0 0 40 -20

under / over absorption 300 240 360 300 320 300

Less: non-manufacturing costs -100 -100 -100 -100 -100 -100

Net profit 200 140 260 200 220 200

SOME POINTS TO NOTE

The concept of over and under absorption of overheads

There are two approaches to how the OAR should be calculate:

1. wait until the year end so that two figures required for its calculation can be obtained:

units produced during the period and

total overheads incurred during the period

2. Or we can make budgets for these two figures at the start of the period.

If we use the first approach, it means that we cannot obtain the rate at the start of the year

and hence all products sold during the year will not include the fixed overhead

cost of production. This will lead to a loss for the company, as customers will only pay

for the variable cost of production. Hence, in practice, option two is used.

However, option 2 has a problem.

Take for example :

Budgeted overheads £300,000

Budgeted production 100,000 units

Hence OAR is £3 per unit

this is used to charge for all products sold during the year

However, IF at the year end, the actual figures are as follows:

Actual overheads £400,000

Actual production is 80,000 units

Hence Actual OAR should have been £5 per unit

Hence for all products sold, we have under charged fixed overheads by £2 per unit.

If we sold, 50,000 units for each period we have under charged by: £2 x 50,000 ie. £100,0000

This is a loss for the company and should be charged as a cost

Hence under absorption reduces profits for the period.

On the other hand, suppose:

Actual overheads incurred were £300,000

Actual production were 150,000 units

I.e actual OAR SHOULD HAVE BEEN £2 per unit

As we charges £3 per unit, we would have overchargerd customers by £1 per unit

If we sold 50,000 unit , it would mean that we hould have overcharged customers by

£1 x 50,000 £50,000

Over absorption of overheads results in extra profit, hence

we add it to profits for the year.

RT-F4/Management Accounting/Support/Academic Writing 2.pdf

Academic writing skills

Writing, referencing & using electronic resources

“Care in the choice of one’s words is the respect that the mind

pays

to the instrument of its own being”

Agenda

• Writing

– What is academic writing

• Referencing

– Books

– Articles

– Others

• Electronic resources

Academic writing

• What is it all about?

Writing

• Academic writing is Formal

– No exaggeration (Not: extremely important)

– Impersonal (no use of “I am”)

– Direct to the meaning

– No final judgment!! Always allow for arguing and

accepting other opinions!!

WHAT DOES FORMAL WRITING

LOOK LIKE?

• Focus on the issue, not the writer Keeping

your writing objective and impersonal can make

it more convincing.

– It will be argued that the benefits of sales

promotion outweigh the disadvantages.

– I will argue in this assignment that ...

Choose words with precise

meanings

• Avoid words with vague meanings

– Compare:

• The writer looks at the issue

– with

• The writer examines the issue.

• The second option is more formal.

– Formal choices:

• He states … maintains … argues

– Informal choices:

• He says … talks about …

Add some style

• Writing is a very logical exercise, adding

style to it will enhance clearness and

power of convincing…

– Phrases for transition

– Phrases for emphasis

– Phrases for counterpoint

Phrases for transition

• Regarding

• Admittedly

• Consequently

• As a result

• Ultimately

• According to

• For this reason

Phrases for emphasis

• Moreover

• In fact

• Additionally

• For example

• In point of fact

• As a matter of fact

• Indeed

Phrases for counterpoint

• Conversely

• On the other hand

• However

• Nevertheless

• Notwithstanding

• Nonetheless

• Yet

• Despite

• Although

• Instead

Referencing

• What does referencing mean?

• Why should I include references in my

work?

• How do I reference my work?

What does referencing mean?

• When writing an academic piece of work

you need to acknowledge any ideas,

information or quotations which are the

work of other people. This is known as

referencing or citing.

Why should I include references

in my work?

• You should include references in order to:

– acknowledge the work of others

– provide evidence of your own research

– illustrate a particular point

– support an argument or theory

– allow others to locate the resources you have used

• And most importantly:

– avoid accusations of plagiarism

How do I reference my work?

• Your references should be consistent and

follow the same format. Various systems

have been devised for citing references,

but most Schools use the Harvard system

Referencing while writing

• References will be cited in your work in

two places: -

– 1) Where a source is referred to in the text

(Citation)

– 2) In a list (the Bibliography/List of references)

at the end of the assignment.

Citing references in the text

• Citing the author in the text

• Whenever a reference to a source is

made, its author's surname and the year

of publication are inserted in the text as

in the following examples...

Citing references in the text Cont.

– Dogs were the first animals to be

domesticated (Sheldrake, 1999).

• If the author's name occurs naturally in the

sentence the year is given in brackets .>>

– Sheldrake (1999) asserts that dogs were the

first animals to be domesticated.

Using direct quotes

• If you quote directly from a source you must

insert the author’s name, date of publication

and the page number of the quotation.

– ‘The domestication of dogs long predated the

domestication of other animals.’ (Sheldrake, 1999,

p.5).

• The page number should be given at the end of

the quote, in separate brackets if necessary, as

in the example below.

– Sheldrake (1999) asserts that the ‘domestication of

dogs long predated that of other animals.’ (p.15).

Citing works by more than one

author

• If your source has two authors you should

include both names in the text.

– Anderson and Poole (1998) note that a

‘narrow line often separates plagiarism from

good scholarship.’ (p.16).

Citing works by three or more authors

• If there are three or more authors you should

include the first named author and then add ‘et

al.’ in italics followed by a full stop. This is an

abbreviation of ‘et alia’ which means ‘and others’

in Latin.

– In the United States revenue from computer games

now exceeds that of movies (Kline et al., 2003).

Citing works by the same author written

in the same year

• If you cite two or more works written in the same year by the same author, then you must differentiate between them in both the text and your List of references by listing them as a,b,c etc.

– Natural selection can cause rapid adaptive changes in insect populations (Ayala, 1965a) and various laboratory experiments have been conducted to assess this theory (Ayala, 1965b).

Citing secondary sources

– Sheff (1993) notes that Nintendo invested heavily in advertising (cited in Kline et al.,2003, p.118).

Writing a Bibliography or List of

references

• The List of references appears at the end of

your work and gives the full details of everything

that you have cited in the text in alphabetical

order by the author’s surname

Printed books

• Printed books should be referenced using the following format and punctuation.

– Author/editor’s surname and initials.,

– (Year of publication).

– Title of book: including subtitles. (in italics or underlined)

– Edition. (if applicable)

– Place of publication: (followed by a colon)

– Name of publisher.

• Reference to a book with one author

– Sheldrake, R., (1999). Dogs that know when

their owners are coming home: and other

unexplained powers of animals. London:

Arrow Books.

• Reference to a book with two authors

– Anderson, J. and Poole, M., (1998).

Assignment and thesis writing. 3rd ed.

Chichester: John Wiley & Sons.

Print journals and newspapers

• Print journals should be referenced using the following format and punctuation. – Author's surname, initials., (or Newspaper title where

there is no author,)

– (Year of publication).

– Title of article.

– Name of journal. (in italics or underlined),

– Date of publication (if applicable e.g. 18 June)

– Volume number (in bold) (if applicable)

– (Part/issue number), (if applicable)

– Page numbers.

Example

• Britton, A., (2006). How much and how

often should we drink? British Medical

Journal. 332 (7552), 1224-1225.

• Britton, A., (2006). How much and how

often should we drink? British Medical

Journal. Vol. 332, No. 7552, pp.1224-1225

E-journal article accessed via

website on the open Internet

• Britton, A., (2006). How much and how often

should we drink? British Medical Journal. 332

(7552), 1224-1225. [online] Available

from:http://bmj.bmjjournals.com/cgi/content/full/3

32/7552/1224 [Accessed 2 June 2006].

http://bmj.bmjjournals.com/cgi/content/full/332/7552/1224

Websites, web pages

e.g. University of London)

– (Year of publication).

– Title. (in italics or underlined)

– Edition. (if applicable, e.g. update 2 or version 4.1)

– [online]

– Place of publication: (if known)

– Name of publisher. (if known)

– Available from: <URL>

– [Accessed (enter date you viewed the website)].

References

– Holland, M., (2005). Citing references. [online] Poole:

Bournemouth University. Available from:

<http://www.bournemouth.ac.uk/academic_services/d

ocuments/Library/Citing_References.pdf> [Accessed

2 June 2006].

– University of Westminster, (2007). Harry Potter fans to

cast spell over Westminster. [online] London:

University of Westminster. Available from:

<http://www.wmin.ac.uk/page-14428> [Accessed 24

July 2007].

RT-F4/Management Accounting/Support/Academic Writing Skills 1.pdf

Dr Marco Angelini,

UCL Transition Programme

With thanks to Dr Colleen McKenna for kind

permission in reproducing her material in this

presentation

Approaches to critical reading and writing

Outline for today

 Introduction

 Considering your writing practices

 Reading as part of writing

 Writing as part of thinking

 Planning

 Organising written work

 Looking at text

 Finding time to write

What type of writer are you?

The diver

The patchworker

The architect

The grand planner

Identifying your writing style

Previous writing experiences …

Reading as part of writing

Critical reading (and how it benefits your writing)

 Helps you determine what is and

what is not a robust piece of

research and writing in your field

 Helps you identify where existing

research has left a gap that your

work could fill

 Attention you pay to writing of others

helps you become more self-aware

of your own written work:

– Sufficient evidence to back up claims;

argumentation/reasoning; becoming

alert to your assumptions and how they

affect your claims

 Wallace and Wray, 2006

Critical reading?

How do you go about

reading an academic text

in your field?

Critical reading? Some possible approaches

How do you go about reading an

academic text?

 Use parts of the text: abstract,

contents, index, sub-headings,

graphs, tables, introduction and

conclusion

 Skim to get the gist of the argument

 Read with questions in mind

Critical reading? Some possible approaches

 Make notes/mind map/ use

highlighter

 Write a summary in your own words

 Write a brief critical response

 Keep note of bibliographic details

Critical reading/ critical writing

Handout – p. 12-13 Wallace and Wray

 As a critical reader, one evaluates

the attempts of others to

communicate with and convince

their target audience by means of

developing an argument;

 As a writer, one develops one's own

argument, making it as strong and

as clear as possible, so as to

communicate with and convince

one's target audience.

– Wallace and Wray, 2006

Free writing

 Way of using writing as a tool for

thinking

 Allows you to write without

constraints.

To do it –

Write continuously, in complete

sentences, anything that occurs to

you.

Free writing

Please write down EITHER

1. An idea / theme from your field

2. Use the topic:

‘what I enjoy about writing…’

Use a free writing technique to write

anything at all that occurs to you

about this topic.

This writing will not be shown to

anyone else.

Planning (Sharples)

 Plans should be flexible

 Through the writing process a deeper

understanding of topic is gained – thus,

planning is increasingly out of step as

writing develops:

– “The act of writing brings into being ideas

and intentions that the writer never had at

the start of the task or that could not be

expressed in any detail.”

Plans

 Free writing

 Notes/sketches

 Idea lists

– Ideas on post-it notes

 Mind map

 Skeleton paper with

sub-headings

 Outline

 Draft text

 Adapted from

Sharples, 1999

 What techniques do you use to

develop ideas in your writing

and/or signpost an argument?

Developing/sustaining argument

 ‘proving’ the thesis statement or

controlling argument

 Signposting argument (Giving the

reader cues; anticipating/referring

back)

 Using words which signal transition or

development – “However”,

“Nevertheless”, “Thus”, “Therefore”,

“Despite”

 Illustrating theoretical positions with

concrete examples

 Generalising from a particular set of

findings if possible

 Using subheadings

 Using/responding to counterarguments

and examples

 Anticipate next paragraph at end of

previous one

Signposting and making transitions

 Links between paragraphs – pick up point from the end of a paragraph at the start of next one.

 Conjunctions to express different kinds of meaning relations

– Temporal: when, while, after, before, then

– Causative: because, if, although, so that, therefore

– Adversative: however, alternatively, although, nevertheless, while

– Additive: and, or, similarly, incidentally

 Signposting through pronouns - this, these, those, that, they, it, them

 Adverbs: Firstly, secondly, etc

 Illustrative: For example, in illustration, that is to say,

Signalling conclusions

Citation

Examples of Citing

• The hip bone is confirmed to be connected to the thigh bone (Funny Bones, 1989).

• The cytoskeletal network acts like the strong bars within a scaffolding (Alberts et al., 1998)

• Slavic-Smith (2006) postulated three classifications for nucleoli in neurons

• It was shown in 2006 by Take That, that a successful comeback tour was possible [1].

Bibliographies

 Alberts, Bray, Johnson, Lewis,

Raff, Roberts & Walter. Essential

Cell Biology, 1st Edition, Garland,

1998

 Dickson, B (2002) Molecular

Mechanisms of Axon Guidance.

Science 298 1959-1964

 [1] www.bbc.co.uk/news

Writing tips

 Write a sentence for each paragraph you want

to write – you can then move them about easily

to form thread of argument

 Index tag the main points you want to use in

your references, so they can be found easily

while writing

 Write the introduction last

 Write the conclusion first

 Read what you have written aloud to see if it

sounds right

 Find best environment for you – when and

where do you work best

 Take a break before trying to do your final check

 Use a writing checklist

Making time for writing

 Write throughout the course

 Do free writing as frequently as

possible

 Snack and binge writing (Rowena

Murray)

 Writing groups

 Don’t wait until you feel ‘ready’ to

write…

Writing for learning

 Read regularly in the field. Find writers whose work you admire and study what and how they do things.

 View writing as part of a process rather than a product

 Find models of good writing in your discipline – analyse it; ask what works and what doesn’t; consider writing style; vocabulary; techniques – metaphor; explanation; signposting

 Reflect on your own writing practices

 Keep a notebook or learning journal

 Explore free writing

To sum up…

1. Asked ‘what type of writer are

you’? What are your writing

practices?

2. What are your approaches to

reading? How might you link

reading and writing?

3. Free writing as a means of

generating ideas

4. Thought about structure of the

essay at the paragraph level and

the overall level

5. Tried to relate these ideas back

to the outline.

Reference

Academic Writing Skills

Presentation - UCL https://www.ucl.ac.uk/transition/study-

skills.../Academic_Writing_Skills_11.pptx

RT-F4/Management Accounting/Support/Answers to scenarios.pdf

WORKSHOP 4 COST VOLUME PROFIT ANALYSIS

ANSWERS TO SCENARIO 1

BREAKEVEN POINT IN UNITS: Total fixed codt/controbution per unit

so, first calculate contribution per unit.

contriburion per unit is given as: selling price per unit - variable cost per unit

Hence, 500 - 300 200

BREAKEVEN POINT IN UNITS: 5,000/200 25 units

Breakeven point in revenue is : brekeven point units x selling price per unit

Hence, 25 x 500 12,500

Breakeven point in revenue can also be calculated as:

Total fixed cost

C / S Ratio

so calculate : c/s ratio contribution per unit

selling price per unit

Hence, 200/ 500 0.4

Hence, breakeven point in revenue is : 5,000 12500

0.4

ANSWERS TO SCENARIO 2.

To achieve a target profit, we need to make enough sales to breakeven and then to

sell more to achieve that profit

Hence, the formular is given as: •Expected Profit + Total Fixed Cost

Contribution per unit

so, first calculate contribution per unit.

contriburion per unit is given as: selling price per unit - variable cost per unit

Hence, 500 - 300 200

Hence units to sell to achieve £2,000 profit is given as:

2,000 + 5,000 35 units

200

proof:

sales income (£500 X35) 17,500

Less: variable cost (£300 x 35) -10,500

contriburion 7,000

Less: fixed costs -5,000

profit 2,000

Scenario 3 - indicative answer:

Turbo Dynamic Ltd Expected level of sales: 10000 units

Selling price: 350

Manufacturing costs

Variable materials 100

Variable labour 80

Other variable costs 40

Variable selling costs 25

-245

Contribution / unit 105

Fixed Costs 600,000

Fixed costs 100,000

700,000

Breakeven = total fixed cost 700,000

contribution per unit 105

6,667

turbochargers

Breakeven point in sales revenue =

brakeven units x selling price per unit 6,667 x 350

£2,333,333

Margin of safety: expected sales units - breakeven point in units 3,333

units

Margin of safety in revenue : = margin of safety in unts x selling price per unit

3,333 x 350

1,166,667

Forecast Profit (based on sales of 10,000 units)

sales revenue(10,000 x 350) 3,500,000

less: variable cost (10,000 x 245) -2,450,000

contribustion 1,050,000

Less total fixed cost -700,000

Profit 350,000

RT-F4/Management Accounting/Support/L1 Class and Group Activities.pdf

Unit 5 Management Accounting Class and Group Activities

Activity 1 – Variance Report The Angamah Company is a retail organisation that operates in North London area. The following variance report is for the month of August of 2017 operations. You are the management accounting technician who extracted the information from the company's management accounting system.

Angamah Company Variance Report - August 2017

Required:

Write a covering report to your manager explaining the performance of the company for the month of August and attach your variance report as an appendix.

Budget Actual Variance

£ £ £

Revenues 57,000 60,000 3,000 F

Cost of goods sold 40,000 43,400 3,400 U

Wages 6,700 7,000 300 U

General expenses 1,300 900 400 F

Fixed costs 5,000 5,000 -

Operating profit 4,000 3,700 300 U

Lecturer: Kofi Barimah �1 Lecture 1

Unit 5 Management Accounting Class and Group Activities

Activity 2 – Epochs in the Development of Management Accounting Identify the key epochs in the development of management accounting from the period prior to the the Industrial Revolution to the present day. For each period, indicate the triggers/reasons of change in management accounting approaches, and the key management accounting techniques, methods and/or principles that emerged. Tabulate your your findings using the following format:

Epochs Triggers/reasons Management Accounting Methods

Pre Industrial Revolution (IR)

None; external transactions only

No MA; double-entry bookkeeping developed

Start of IR to mid 19th Century

Mid 19th Century to end

Start of 20th Century to 1920s

From 1920s to 1980s

Since the 1980s

Lecturer: Kofi Barimah �2 Lecture 1

Unit 5 Management Accounting Class and Group Activities

Activity 3 – Financial versus Management Accounting Examine the accounting activities listed below. Classify each, by ticking the appropriate box, on the basis of whether the activity is financial accounting or management accounting. Suggest a reason or reasons for your choices.

Accounting activity Financial accounting Management accounting

(a) Auditing the accounting systems and records of a business

(b) Managing the tax affairs of a business

(d) Preparing financial statements at the end of the financial year

(e) Ensuring compliance with legal and other regulations

(f) Providing financial information to management

(g) Keeping the accounting records of the business

Lecturer: Kofi Barimah �3 Lecture 1

Unit 5 Management Accounting Class and Group Activities

RT-F4/Management Accounting/Support/MA L3 Activity - CHECK YOUR UNDERSTANDING.pdf

• 1. Management accounting is one of the six main branches of accounting.

• 2 Its main purpose is to collect data and provide information for use in planning and control and for decision making.

• 3 Management accounting evolved in the late nineteenth century out of the simple financial accounting systems used at the time when more detailed information was needed for stock control and for production costing purposes.

• 4 It began to be used as a planning and control technique in the early part of the twentieth century.

• 5 In more recent years, management accounting techniques have become incorporated into managerial decision making.

• 6 Six main functions of modern management accounting can now be recog- nized: planning, control, cost accounting, decision making, financial management and auditing.

• 7 Management accounting practices can have a negative impact on both the providers and the users of information if management accountants adopt an autocratic and non-participative attitude.

• 8 A negative approach to management accounting requirements may result in poor-quality information and erroneous decision making.

• (Glen 643)Glen. Higher Nationals in Business Core Textbook: BTEC Level 4 Higher National Certificate in Business/BTEC Level 5 Higher National Diploma in Business, 2nd Edition. Pearson Higher Education (UK), 2016. VitalBook file.The citation provided is a guideline. Please check each citation for accuracy before use.

Check your learning

• 1What is meant by ‘management accounting’

• 2 List six ways in which it is different from financial accounting.

• 3 Suggest two reasons why in pre-industrial times there was no need for entities to have a management accounting system.

• 4 For what purposes did nineteenth century managers need a more detailed costing system?

• 5 What is meant by ‘strategic planning’?

Check your learning

6. How does it differ from budgeting? ７．What are the six steps involved in preparing a strategic plan?

8 What is meant by ‘control’? 9 Describe briefly the nature of cost accounting. １０．What is meant by‘ decision making’?

１１．What is the main purpose of financial management?

12 Why should management accountants be aware of the behavioural impact of information supply?

RT-F4/Management Accounting/Support/MA L4 Class Activity 2.pdf

Cost-Volume-Profit Analysis

Behaviour of costs:

Different types of cost will behave in differing ways as the volume

of activity within a business increases.

We can look at these graphically.

Graph of fixed cost(s) against the level of activity

Cost

(£)

Volume of activity (units of output)

Graph of rent cost against the level of activity

Rent

cost

(£)

Volume of activity

Graph of variable costs (e.g. raw materials) against

the level of activity

Cost

(£)

Volume of activity 0

Graph of semi-variable costs against the level of

activity (e.g. electricity costs)

Electricity

cost

(£)

Volume of activity0

The slope of this line

gives the variable cost

per unit of activity

Fixed

cost

element

Break-even analysis:

A business will break-even at the level of activity where total revenue

just equals total costs.

In other words, if a business can identify the level of activity that

it requires to break-even it will be able to identify the level of activity

it needs to achieve before it can make a profit.

See scenario details on separate sheet:

At the breakeven point:

• Total Cost = total revenue

• That is:

• FC + VC = REVENUE

• Hence, at that point:

• profit = zero

Break-even Chart (Weekly)

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

0 5 10 15 20 25 30

Unit Sales

C o

s ts

/ R

e v e n

u e s

Fixed Costs

Break-even Chart (Weekly)

2000

4000

6000

8000

10000

12000

14000

16000

0 5 10 15 20 25 30

Unit Sales

C o

s ts

/ R

e v e n

u e s

Variable Costs

Fixed Costs

Break-even Chart (Weekly)

2000

4000

6000

8000

10000

12000

14000

16000

0 5 10 15 20 25 30

Unit Sales

C o

s ts

/ R

e v e n

u e s Variable Costs

Fixed Costs

Total Costs

Break-even Chart (Weekly)

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

0 5 10 15 20 25 30

Unit Sales

C o

s ts

/ R

e v e n

u e s

Total Costs

Break-even Chart (Weekly)

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

0 5 10 15 20 25 30

Unit Sales

C o

s ts

/ R

e v e n

u e s

Total Costs

Total Revenue

Breakeven chart

Breakeven therefore will be in two parts:

• Either in finding the sale quantity that an organisation needs to achieve to make zero profit

• OR

• Finding the sales revenue that organisation needs to achieve to make zero profit

Formulas for break-even in units of sales

• Sales unit to break-even = Total Fixed Cost Contribution per unit

Formulas for break-even in sales revenue:

Total Fixed Cost

C/S Ratio*

Sales revenue to make some expected profit:

C/S Ratio*

Sales revenue to break-even =

*C/S RATIO (for a single product) =

Contribution per unit

Selling price per unit

Expected Profit + Total Fixed Cost

Formulas for break-even in sales revenue:

*C/S RATIO (for more than product) =

Total Contribution

Total sale revenue

Sales unit to make an expected profit

• In this case you should assume that:

• Step 1. the company must sell enough to break- even, i.e. to cover all Fixed costs and

• THEN, sell enough to make that amount of profit

Sales unit to make an expected profit

Expected Profit + Total Fixed Cost Contribution per unit

Margin of safety

• Margin of safety: measures the difference between:

• the expected or budgeted sales and

• the breakeven point

Formula for Margin of safety :

• Margin of safety =

Budgeted sales – Break-even point

• The margin of safety results can be expressed as a percentage of either the budgeted sales

• the break-even point

Margin of safety =

Budgeted sales – Break-even point

Budgeted sales X 100

Class exercise

Alpha plc plans to sell a new product . Details are as follows:

Direct Materials 15

Direct Labour 8

Variable overheads 7

Annual fixed cost are expected to be £40,000 and the selling price is £38 per unit

• Required

(a) Calculate the breakeven point in units

(b) Calculate the breakeven point in Revenue

(d) Calculate profit if sales were 6,000 units

(e) Suppose that Alpha plc expects to sell 5,800 units how far is it above the breakeven point? Or calculate the margin of safety.

Contribution per unit

first calculate Contribution per unit

Contribution per unit

= SP – VC

= 38 – (15 + 8 + 7) = 8

Second step

• (a) BEP (units)

• (b) BEP (revenue) = BEP (units) x Sp per unit

• (a) BEP (units) = 40,000 / 8 = 5,000 units

• (b) BEP (revenue) = BEP (units) x SP per unit

• = 5,000 x £38 = £190,000

• Or

• BEP (revenue) = 40,000 / (8/38) = 190,000

Third step

• Calculate the sales volume required to make a profit of £16,000

Calculate the sales volume required to make a profit of £16,000

• Expected Profit + Total Fixed Cost

Contribution per unit

• (c) BEP (units) = (16,000 + 40,000) / 8 = 7,000 units

d) Calculate profit if sales were 6,000 units

• (d) 6,000 = (Profit + 40,000) / 8

• Profit = (6,000 x 8) - £40,000 = £8,000

(e) Margin of safety

• Budgeted sales – Break-even point

• = 5,800 – 5,000 = 800 units

Scenario 1.

• A business is attempting to ascertain the level of weekly activity needed if it is to achieve a break-even level of sales. The following data is relevant to this analysis:

• Weekly fixed costs - £5,000 • Sales price per unit - £500 • Variable costs per unit - £300

• Required : • Determine the breakeven point in units and sales

revenue 32

Scenario 2. Target profit analysis

• A business is attempting to ascertain the level of weekly activity needed if it is to achieve a target profit of £2000 per week. The following data is relevant to this analysis:

• Weekly fixed costs - £5,000

• Sales price per unit - £500

• Variable costs per unit - £300

• Required:

• Advise the company in the analysis

SCENARIO 3. Margin of safety:

Manufacturing Variable materials £100 per turbocharger Variable labour £80 per turbocharger Other variable costs £40 per turbocharger Fixed costs £600,000 per year Admin and selling Variable £25 per turbocharger Fixed £100,000 per year

Required:

•Calculate the break-even point for next year, expressed both in turbochargers

and sales revenue .

•Calculate the margin of safety for next year, expressed both in turbochargers

and sales revenue.

•What is their forecast profit for the year assuming they achieve planned sales

Turbo Dynamic Ltd makes a specialist turbocharger for the marine industry,

which it sells to marine engine manufacturers for £350 each. Next year the

company plans to make and sell 10,000 turbochargers. The company’s

costs are as follows

RT-F4/Management Accounting/Support/MA L4 Class Activity Answers.pdf

Class Activity 1 - Flexible Budget

Determine variable cost per unit:

The following will be the fixed and flexible budgets:

Units £

High 9,800 44,400

Low 7,700 38,100

Differences 2,100 6,300

Variable cost per unit 6,300 ÷ 2,100 = £3

Total cost of 9,800 units 44,400

Variable cost of 9,800 units (£3 x 9,800) 29,400

Fixed cost (all levels of output) 15,000

Flexible Budgets (Units)

8,000 9,000 10,000

£ £ £

Sales (£5 each) 40,000 45,000 50,000

Variable cost (£3 each) 24,000 27,000 30,000

Contribution 16,000 18,000 20,000

Fixed costs 15,000 15,000 15,000

Profit 1,000 3,000 5,000

Class Activity 2 - Flexible budget and cost variances

Budget 200 units

Budget per unit

Flexed 230 units

Actual 230 units Variance

£ £ £ £ £

Sales 71,400 357 82,110 69,000 13,110 A

Variable cost

Labour 31,600 158 36,340 27,000 9,340 F

Material 12,600 63 14,490 24,000 9,510 A

44,200 221 50,830 51,000

Contribution 27,200 136 31,280 18,000 13,280 A

Fixed costs 18,900 18,900 10,000 8,900 F

Profit 8,300 12,380 8,000 4,380 A

RT-F4/Management Accounting/Support/Management Accounting - Lecture 1.pdf

L1: INTRODUCTION TO

MANAGEMENT

ACCOUNTING

UNIT 5: MANAGEMENT

ACCOUNTING

Lecturer: Kofi Barimah

UNIT 5 MANAGEMENT ACCOUNTING L 1 I N TR O D U C TI O N TO MA N A G E ME N T A C C O U N TI N G

Lecturer: Kofi Barimah

LEARNING O UT CO MES

LEARNING OUTCOMES AND OBJECTIVES

1. Demonstrate an understanding of management

accounting systems

2. Apply a range of management accounting techniques

3. Explain the use of planning tools used in management accounting

4. Compare ways in which organisations could use management

accounting to respond to financial problems

3Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE S

LEARNING OUTCOMES AND OBJECTIVES

1. Define management accounting

2. Understand a management accounting system

3. Explain the importance of integrating these within an organisation

4. Explore the origin, role and principles of management accounting

5. Identify the distinction between management and financial

accounting

4Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 1

DEFINING MANAGEMENT ACCOUNTING (MA)

• Management accounting provides information for the organisation's

information value chain by converting raw data into information and

useful knowledge to help in managerial decision-making and control

(CIMA, 2009)

• Management accounting measures and reports financial and non -

financial information that helps managers make decisions to fulfill

the goals of an organisation (Horngren et el, 2013)

• From the authoritative definitions above, MA can be considered as

an Information System whose purpose is to support, influence and

motivate effective managerial decision making and activity

5Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 1

DEFINING MANAGEMENT ACCOUNTING (MA)

• Managerial activity falls into three broad categories:

6Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 1

DEFINING MANAGEMENT ACCOUNTING (MA)

• Planning involves the following:

DETERMINE

ALTERNATIVES

CHOOSE ALTERNATIVE

THAT BEST FURTHERS

THE ORGANISATION’S

OBJECTIVES

DEVELOP BUDGETS

TO GUIDE TOWARD

THE CHOSEN

ALTERNATIVE

Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 1

DEFINING MANAGEMENT ACCOUNTING (MA)

• Directing and motivating is making sure that the day-to-day

activities of the organisation are going according to plan. They

normally involve the following activities:

• Employee work assignments

• Effective communication

• Conflict resolution, and

• Problem solving

8Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 1

DEFINING MANAGEMENT ACCOUNTING (MA)

• Controlling

• This function ensures that plans are being followed

• It is achieved by means of variance (feedback) reports which

compare actual performance with budgets

• Appropriate corrective measures are taken where there is a

deviation between the two

• Attempt Activity 1 - Variance Report available on VLE

9Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 1

DEFINING MANAGEMENT ACCOUNTING (MA)

• The planning control cycle

10Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 1

DEFINING MANAGEMENT ACCOUNTING (MA)

• Decision making involves the following steps (Horngren et al,

2014):

• identifying problems and uncertainties

• obtaining information

• making a prediction about the future

• making a decision by choosing among alternatives

• implementing the decision, evaluating the performance and

learning

11Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 2

MANAGEMENT ACCOUNTING SYSTEM (MAS)

12Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 2

MANAGEMENT ACCOUNTING SYSTEM (MAS)

• A system is a set of interacting, interrelated, or interdependent

components that work towards a common objective

• The interacting components are subsystems, which themselves

have their own components (subsystems)

• Earlier on we learned that MA is an information system that

provides information to management to facilitate decision making

• Therefore, a MAS is a subsystem of an organisation's accounting

system, which is itself a subsystem of the organisation's overall

information system

13Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 2

MANAGEMENT ACCOUNTING SYSTEM (MAS)

• The financial accounting system primarily provides information for

the benefit of external users

• The MAS focusses on the provision of information for internal,

principally decision-making, purposes

• The cost accounting system serves both the financial accounting

system and the MAS:

• For financial accounting, the cost accounting system provides

information for measuring the cost of goods sold, overheads

(selling, administrative and distribution expenses) and cost

valuations of non-current assets

14Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 2

MANAGEMENT ACCOUNTING SYSTEM (MAS)

• For MAS, the cost accounting system provides information on

standard product and service cost, cost per unit of products and

services, variance analysis, capital budgeting, projected cost

information for budgeting, costs for pricing of goods and service

• Under Learning Objective 5 of this lecture, we will distinguish

management and financial accounting in more detail

• In Lecture 2, we will examine different types of MASs, which

include, cost-accounting systems, inventory management systems,

job-costing systems and price-optimising system

15Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 2

MANAGEMENT ACCOUNTING SYSTEM (MAS)

• A good MAS must have the following characteristics (Johnson and

Kaplan, 1987):

• Provision of timely and accurate information to control costs,

measure and improve productivity, and improve production

processes;

• Provision of accurate cost reports for pricing decisions, new

product launches, discontinuation of obsolete products, and

response to rival products;

• Motivation and evaluation of managers on the basis of

performance reports; and

16Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 2

MANAGEMENT ACCOUNTING SYSTEM (MAS)

• Facilitation of two-way communication between strategic

managers (handing down of organisational goals and objectives)

and operational managers (reporting up product performance and

production efficiencies)

17Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 3

INTEGRATING MA AND MAS WITHIN AN ORGANISATION

• We used systems theory to explain the relations a MAS has with

the accounting system and the organisation's overall information

system (IS)

• IS is a subsystem of the organisation, which is itself a subsystem

of the economic system (the competitive environment) within

which it operates

• This theory, therefore, provides one reason for the importance of

integrating MA and MAS within an organisation. Failing that, they

will not work in congruence with the other subsystems of the

organisation (eg production system) to achieve corporate

objectives. This is known as system noise

18Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 3

INTEGRATING MA AND MAS WITHIN AN ORGANISATION

• Developments in information technology (IT) has made processing

accounting information quicker and cheaper

• IT has also automated other business and production processes

and facilitated the integration of them, including the processing of

accounting information

• The result is efficiency, effectiveness and better productivity

within the organisation

• Real time information processing and reporting afforded by

developments in IT also results in better decision making from good

quality and timely information

19Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Up to the dawn of the Industrial Revolution in the 19th Century

• Accounting information served the needs of owner/entrepreneur in

assessing profitability

• Transactions involved exchange between the entrepreneur and

external entities (customer, supplier and ad-hoc labour)

• MA had no role as organisations with internal processes didn't exist

• Double-entry bookkeeping system, developed by an Italian monk

Pacioli, was adequate to provide the information needs of

entrepreneurs

20Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Industrial Revolution and Railroad Invention in 19th Century

• The entrepreneur/owner form of business gave way to

hierarchical organisations managed from distant locations to the

factory

• Conversion processes became internalised compared to the

external conversion process of buying in goods and selling of the

previous era. Therefore no costs existed for the internal

processes

• Production was on large scale to achieve economies of scale and

capital investment was huge

21Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• MA emerged to serve the hierarchical organisations by:

• Determining costs for the conversion processes

• Providing production summary measures for performance

evaluation of processes and managers

• Assessing the viability of the capital investment

• In mid 19th Century the invention of railways and telegraph

communication saw the arrival multi-location (decentralised)

organisations. MA evolved to measure key operating activities to

ensure efficiency (KPIs)

22Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Scientific Management movement - last two decades of Century

• Objective of scientific management was to improve efficiency in

labour and materials utilisation

• Metrics were developed for labour grades and hours per unit, and

material quantities per unit

• MA converted these metrics into standard labour and material

costs. MA techniques developed were

• Standard costing methods

• Job order costing

23Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Early decades of the 20th Century

• Business organisations transformed into multi-product, diversified

corporations, and vertically integrated corporations

• Divisionalisation also occurred in the 1920s, whereby central functions

of finance, marketing and purchasing devolved to the divisions

• MA tools developed to assess decentralised/divisionalised units:

• ROI, ROCE and Dupont-Model (decomposed ROI)

• Budgetary planning and control

• Systems of transfer pricing

24Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Depression of the 1930s to the 1980s

• MA stagnated. Possible causes have been attributed to:

• The stock crash of 1929 led to focus on fraud prevention and

financial accounting

• Separate MA and FA systems considered unviable. FA

information used for management decisions and control

• Intervening wars led to war economies

• Post-war boom

25Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Marketing and Strategic Management era

• Cost effectiveness not seen as key success factor

• Market orientation was seen more as a success factor

• Market/product concepts emerged, eg. Boston Consulting Group

advocated

• invest to attain market share

• penetration pricing

• simple control measure used: TC/unit of output

26Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• 1980s Development

• Japanese approach to competition

• Continuous improvement of processes, design and quality

• CIM to reduce data accumulation cost

• Inventory seen as inhibiting efficiency (reduced)

• Time from customer order to delivery slashed

• MA evolved to provide information to achieve above

27Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Focus on production again:

• TQM - quality is free

• Production management on the basis of non-financial data:

• defectives in total production

• yield rate, first-pass yields, rework and scrap rates

• timely delivery rates; manufacturing cycle time

• MA information extended to include statistical methods

28Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Financial performance measurement innovation

• Activity-based costing

• cost driver analysis

• standard costing incorporated (activity based budgeting)

• better attribution of resource costs to products, customers

and services

• Attempt Activity 2 – Epochs in Development of MA available on

the VLE

29Lecturer: Kofi Barimah

LEAR N IN G O BJ EC T IVE 4

ORIGIN, ROLE AND PRINCIPLES OF MA

• Since the 1990s - Integrated Production

• Extensive use of IT: CIM

• Material Requirements Planning Systems develop into:

• Enterprise Resource Planning Systems

• Integrated Enterprise data bases with e-business portals

• Supply chain management

• Balance scorecard

30Lecturer: Kofi Barimah

LEARNING O BJ ECT IVE 5

DISTINCTION BETWEEN FINANCIAL AND MA

Financial Accounting Management Accounting

1. Users External parties to make

investment decisions

Managers who plan and control the

company

2. Time focus Historical perspective Future emphasis

3. Verifiability

versus

relevance

Emphasis on verfiability Emphasis on relevance for planning

and control

4. Precision

versus

timeliness

Emphasis on precision Emphasis on timeliness

5. Subject Primary emphasis on the whole

organisation

Primary emphasis on segments of the

organisation

6. GAAP Must follow GAAP and

prescribed formats

Need not follow GAAP and prescribed

formats

7. Requirement Mandatory for external reports Not mandatory

• Attempt activity 3 FA versus MA available on VLE

Lecturer: Kofi Barimah

REFERENCES

CIMA (2009). Management accounting tools for today and tomorrow.

http://www.cimaglobal.com/Documents/Thought_leadership_docs/CIM

A%20Tools%20and%20Techiques%2030-11-09%20PDF.pdf

Horngren, C., Sunden, G., Straton, W., Burgstalher, D. and

Schatzberg, J. (2013) Introduction to Management Accounting. Global

Ed. Harlow: Pearson Education

Horngren, C.T., Datar, S.M., and Rajan, M.V., (2014) Cost

Accounting: a Managerial Emphasis. Harlow: Pearson Education

Johnson, H S and Kaplan, R S (1987). Relevance Lost: The Rise and

Fall of Management Accounting. Boston: Havard Business School

Press

32Lecturer: Kofi Barimah

http://www.cimaglobal

RT-F4/Management Accounting/Support/Management Accounting - Lecture 2.pdf

L2: TYPES OF

MANAGEMENT

ACCOUNTING SYSTEMS

UNIT 5: MANAGEMENT

ACCOUNTING

Lecturer: Kofi Barimah

UNIT 5 MA NA G E ME NT A CCO UNT I NG

Lecturer: Kofi Barimah

L E A R N I N G O U T C O M E S

LEARNING OUTCOMES AND OBJECTIVES

1. Demonstrate an understanding of management

accounting systems

2. Apply a range of management accounting techniques

3. Explain the use of planning tools used in management accounting

4. Compare ways in which organisations could use management

accounting to respond to financial problems

3Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E S

LEARNING OUTCOMES AND OBJECTIVES

• Cost-accounting systems and benefits

• Inventory management systems and benefits

• Job-costing (and process-costing) systems and benefits

• Price-optimising systems and benefits

4Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1

COST–ACCOUNTING SYSTEMS

5Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1

COST–ACCOUNTING SYSTEMS

• Cost-accounting systems provide information to management

• Under the contingency theory accounting systems provide

information according to what management requires (Chapman,

1977). Thus

• Managers of small or large organisations will require different

types of information

• As the nature, complexity and size of an organisation change, the

accounting system should be capable of adaption to provide the

required information

6Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1

COST–ACCOUNTING SYSTEMS

• “Cost accounting measures, analyzes, and reports financial and non-

financial information relating to the costs of acquiring or using

resources in an organization”. (Horngren et el, 2014, p27)

• Cost accounting systems enable managers to ascertain the costs of

cost units and and cost centres

• A cost unit the unit of product or service of an organisation to which

costs are allocated:

• in a car manufacturing organisation, it a model or models of car

• in a haulage business, it may be cost of moving a ton of goods over

one mile

7Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1

COST–ACCOUNTING SYSTEMS

• A cost centre is a section of the organisation for which costs are

accumulated for planning, decision making and control purposes

• In a factory, the following cost centres may be distinguished:

• production cost centres, eg assembly, finishing and packing

departments

• service cost centres, eg maintenance, stores and canteen

Activity 1 - Cost Centres

From the two businesses the next slide, indicate the cost centres.

8Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1

COST–ACCOUNTING SYSTEMS

Cost Centres

Toy manufacturer Hotel

Assembly department Kitchen

Stores department Cost of drinks

Sales team Reception area

Specialised moulding machine Laundry

Clerical salaries Restaurant

Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1

COST–ACCOUNTING SYSTEMS

• Some of the benefits of cost accounting systems include:

• To value inventory: raw materials, work in progress and finished

goods

• To plan production: knowledge of all the elements of production

process and the funds required

• To maintain control: comparison of costs incurred to planned

costs for efficiency and for performance evaluation

• To aid decision making: selling prices, whether to invest in new

machinery, evaluate alternative ways of performing activities

10Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2

INVENTORY MANAGEMENT SYSTEMS

• Inventory management systems deal with the components of

inventory costs, relevant costs for different inventory-related

decisions, and planning and control systems for managing inventory

• Under this learning objective, we cover the following systems:

• Economic order quantity (EOQ) decision model

• Just-in-time inventory management system

• Materials requirements planning (MRP) systems

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

• Inventory management relates to planning, coordinating and

controlling activities that enable inventory to flow into, through and

out of the business

• Managers need to manage costs associated with these activities.

The costs are:

• Purchasing costs: - cost of goods including freight costs and

discounts

• Ordering costs: preparing and issuing orders, receiving and

inspecting orders, matching invoices received, special order

processing costs

12Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

• Holding costs: they arise while the inventory is stored awaiting

sale; include opportunity cost of funds tied in the inventory

• Stockout costs: losses or opportunity cost of missed contribution

when stocks run out with customers available for them.

• Costs of quality: where features and characteristics do not

conform to customer expectations

• Shrinkage costs: embezzlement by employees, theft from

outsiders, misclassifications and clerical errors

13Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

• The economic order quantity (EOQ) decision model attempts to

balance the advantages and disadvantages of holding stock

• The model takes account of:

• Holding costs – working capital, storage and obsolescence risk

costs, and

• Ordering costs – price discounts and costs of placing orders

• The rationale underlying the EOQ model is that, for any given set of

circumstances, an order quantity, Q, exists that minimises the total

order and holding costs. See the following chart

14Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

15Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

• EOQ is the order quantity that minimises the relevant ordering and

holding costs:

• Total costs = Ordering Costs + Holding Costs

• D = Demand in units for a specified period

• Q = Size of each order (order quantity)

• Number of orders =

• Average inventory in units =

16Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

• Holding costs = holding cost/unit x average inventory =

• Order costs = order cost x number of orders per period =

• So, Total cost, Ct =

• With low values of Q, holding costs are low but ordering costs are

high

• Initially the decrease in ordering costs is greater than the increase

in holding costs so total costs fall

17Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

• After a point, the decrease in ordering costs slows whilst the

increase in holding costs is constant, so total costs start to increase

• The ‘optimum’ order quantity is known as the economic order

quantity (EOQ)

• The total cost, Ct when differentiated gives a general EOQ formula

thus:

• EOQ =

18Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

Activity 2 - Economic Order Quantity

A building materials supplier obtains its bagged cement from a single

supplier. Demand is reasonably constant throughout the year, and

last year the company sold 2000 tonnes of this product. It estimates

the costs of placing an order at around £25 each time an order is

placed, and calculates that the annual cost of holding inventory is 20

per cent of purchase cost. The company purchases the cement at £60

per tonne.

Determine the EOQ

19Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L 2

INVENTORY MANAGEMENT SYSTEMS

• The EOQ is not particularly sensitive to small changes in Q

• To build an EOQ model various costs have to be estimated. As the

EOQ is not particularly sensitive to small variations in Q, it does not

matter if these estimates are not 100% accurate

• The EOQ assumes that the entire replenishment batch arrives at a

single point in time

• Sometimes this is not the case, and in these circumstances it is

better to use the economic batch quantity (EBQ) model

20Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – E O Q D E C I S I O N M O D E L

INVENTORY MANAGEMENT SYSTEMS

• Benefit of the EOQ decision model:

• A guide to managers on the quantity to order

• Helps avoid tying up funds in inventories

• It minimises managing costs of inventories

• It frees storage/warehousing space for other uses

21Lecturer: Kofi Barimah

Reflection: Consider the above benefits against the limitations

of the EOQ decision model

L E A R N I N G O B J E C T I V E 2 – J I T

INVENTORY MANAGEMENT SYSTEMS

• Just-in-time (JIT) purchasing is where items ( materials ,

opponents an other supplies) are purchased of so that they are

delivered just when they are required for production (or sales)

• The costs of JIT are quality and timely deliveries

• Quality costs: inspection costs, product returns, lost reputation

• Timely deliveries cost: stockouts, operational disruption, customer

dissatisfaction

• To implement JIT purchasing companies need to choose their

suppliers carefully and develop long-term supplier relationships

22Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – J I T

INVENTORY MANAGEMENT SYSTEMS

• To avoid stockouts, businesses can implement JIT only if activities

throughout the supply chain are properly planned, coordinated, and

controlled

• The supply chain is the flow of goods, services, and information

from the initial sources of materials and services to the delivery of

products to consumers

• These activities may occur in the same company or in other

companies

• JIT thus requires the sharing of information and planning and

coordinating activities throughout the supply chain

23Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – J I T

INVENTORY MANAGEMENT SYSTEMS

• The benefits of JIT include:

• Sharing sales information reduced the level of uncertainty within

the supply chain

• Fewer stockouts at the consumer level

• Reduced manufacture of products not immediately needed by

consumers

• Fewer orders that have to be “rushed” or “expedited”

• Lower inventories held by each company in the supply chain

24Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – J I T

INVENTORY MANAGEMENT SYSTEMS

• In manufacturing, JIT application is referred to as lean production

• It is a 'demand-pull' manufacturing system that manufactures each

component in a production line as soon as, and only when, needed

by the next step

• Starting with the customer, each demand triggers each step in the

production process

• This results in close coordination among workstations

• Inventories don't exist and waste and defects are eliminated

• Setup time and manufacturing cycle time are reduced

25Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – M R P

INVENTORY MANAGEMENT SYSTEMS

• MRP is a "push-through" system that manufactures finished goods

for inventory based on demand forecasts

• MPR determines output using:

• demand forecasts for final products

• a bill of materials detailing the materials, components and

subassemblies for each final product

• available inventories of materials, components and products

• Once production starts, output of each station is pushed through

26Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – M R P

INVENTORY MANAGEMENT SYSTEMS

• MRP may result in inventory accumulation when a workstation

slows up

• Maintaining accurate inventory records and costs is critical

• The key benefit of MRP is the minimisation of the possibility of

stockouts

27Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – J O B & P R O C E S S C O S T I N G

S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Management accountants use two basic types of costing systems

to assign costs to products or services

• Job-order costing system, and

• Process costing system

• Many companies have costing systems that are neither pure job

costing nor pure process costing but have elements of both

• Either of the two Systems may use absorption system or marginal

costing system to determine the value of inventories

28Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – J O B & P R O C E S S C O S T I N G

S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Job-order costing systems are used in situations where many

different products are produced each period costs are traced and

allocated to jobs

• The total costs of the job are divided by the total number of units in

the job to arrive at an average cost per unit

• Examples of businesses where the costing system is used include:

• Large scale construction projects

• Clothing company that may order different types of clothing

• Service organisations such advertising and accountancy firms

29Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – J O B & P R O C E S S C O S T I N G

S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Process costing system is used in companies that produce many

units of a single product for long periods

• These are homogeneous products that flow through the production

process on a continuous basis

• Process costing systems accumulate costs in a particular operation

or department for an entire period (month, quarter, year) and then

divide the costs by the total number of units produced during the

period

• Thus, the process costing assigns an average cost to all products

as all units are the same

30Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Cost accounting systems and cost information discussed so far are

designed to support efficient price setting and also to support

organisational planning and control

• Economic theory suggests that efficient prices are determined by a

combination of demand and supply relationship (market forces),

competition and costs

• In practice businesses usually rely solely on costs in determining

prices because the application of the economic theory is expensive

• This cost based pricing may be modified by market conditions

31Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

32Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Full cost-plus pricing involves adding a markup to the total cost of the product, in order to arrive at the selling price

• The problem is that fixed costs are spread over the units of production

• This makes the full cost of a product a function of the number of units produced

• The number of units produced in turn will be a response to the number of units sold

33Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Yet, sales quantity will depend on the price charged for

the product

• It is therefore difficult to obtain a reliable cost on which

to base the price

• There is also the issue of deciding whether to use:

• a standard markup, or

• variable markup according to the market conditions,

type of customer, etc

34Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Marginal cost is variable cost, so a margin is added to

the variable cost to arrive at a price

• This approach may be preferable to total cost-plus

pricing for some reasons:

• Knowledge of marginal cost gives management the

option of pricing below total cost when times are

bad, in order to fill capacity

• It recognises the existence of scarce or limiting

resources

35Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Other than cost, there are other marketing-based

pricing strategies:

Premium pricing Market skimming

Penetration pricing Price differentiation

Loss leader pricing Discount pricing

Controlled pricing Product bundling

36Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Premium pricing is where a company prices its

products above the competition on a permanent basis,

where the customers perceive the product as superior

to, or 'different' from, competitors'

• The perception may be based on a number of factors:

Quality Image/style

Reliability/robustness Durability

After-sales service Extended warranty

37Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Market Skimming is a technique where a high price is set for the product initially, so that only those who are desperately keen on the product will buy it

• Then the price is lowered, making the product more accessible

• When the next group of customers have had a chance to buy at that price, the price is lowered again, and so on

• The aim of this strategy is usually to maximise revenue

• But, on occasions, it is also used to prolong the life of older products

38Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Penetration pricing occurs when a company sets a

very low price (below total cost) for the new product

initially so as to establish a large market share quickly

by encouraging customers to try the product and then

to repeat buy

• It is hoped to establish a dominant market position,

which will prevent new entrants coming into the market

because they could not establish a critical mass easily

with prices so low

39Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Price differentiation

• If the market can be split into different segments, each

quite separate from the others and with its own

individual demand function, it is possible to sell the

same product to different customers at different prices

• Marketing techniques can be employed to create

market segmentation, if natural demarcation lines are

not already in existence

40Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Segmentation will usually be on the basis of one or more of

the following:

• Time (e.g. rail travel is cheaper off-peak, hotel

accommodation, telecommunications)

• Quantity (e.g. small orders at a premium, bulk orders at a

discount)

• Type of customer (e.g. student and OAP rates)

• Outlet/function (e.g. different prices for wholesaler, retailer,

end consumer)

41Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Loss leader

• When a product range consists of one or more main

products and a series of related optional ‘extras’, which

the customer can ‘add on’ to the main product, the

supplier can set a relatively low price for the main

product and a high one for the ‘extras’

• The aim is to stimulate sufficient demand for the former

to ensure the target return from sales of the latter

• An example is aircraft engine manufacturers

42Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 – P R I C E - O P T I M I S I N G S Y S T E M S

INVENTORY MANAGEMENT SYSTEMS

• Discount pricing

• This is a pricing strategy based on low cost, high

volume and low margins e.g. Ikea

• Products are priced lower than the market norm, but

are put forward as being of comparable quality

• The aim is that the product will procure a larger share

of the market than it might otherwise do, thereby

counteracting the reduction in selling price

43Lecturer: Kofi Barimah

REFERENCES

Chapman, C S (1977) Reflections on a contingent view of accounting.

Accounting Organisations and Society, 189-205

44Lecturer: Kofi Barimah

RT-F4/Management Accounting/Support/Management Accounting - Lecture 3.pdf

L3: PRESENTING

FINANCIAL

INFORMATION

UNIT 5 MANAGEMENT

ACCOUNTING

Lecturer: Kofi Barimah

UNIT 5: MANAGEMENT ACCOUNTING P RE S E NT I NG F I NA NCI A L I NF O RMA T I O N

Lecturer: Kofi Barimah

L E A R N I N G O U T C O M E S

LEARNING OUTCOMES AND OBJECTIVES

1. Demonstrate an understanding of management

accounting systems

2. Apply a range of management accounting techniques

3. Explain the use of planning tools used in management accounting

4. Compare ways in which organisations could use management

accounting to respond to financial problems

Lecturer: Kofi Barimah 3

L E A R N I N G O B J E C T I V E S

LEARNING OUTCOMES AND OBJECTIVES

1. Why information should be relevant, reliable, up-to-date, and

accurate

2. Why the presentation of information must be understandable

3. Different types of managerial accounting reports

Lecturer: Kofi Barimah 4

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• In lecture 1, we learned that the management accountant provides

information to management to help in decision making in the areas

• planning

• direction and motivation, and

• controlling

• Good decision making is affected by the quality of information

• Quality of information depends on some desirable characteristics

Lecturer: Kofi Barimah 5

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• The IASB's Conceptual Framework (CF) for Financial Reporting

gives the attributes financial information should have to make it

useful to the user in making economic decisions

• Financial information must possess two fundamental qualitative

characteristics, viz:

• relevance, and

• faithful representation

• The CF also describes enhancing qualitative characteristics that

distinguish more useful from less useful financial information

Lecturer: Kofi Barimah 6

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

Lecturer: Kofi Barimah 7

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• Relevance

• Capable of making a difference to a financial statement user’s

decisions

• Has predictive value, i.e. helps to evaluate potential effects of

past, present, or future transactions or other events on future

cash flows, and

• Has confirmatory value, i.e. helps confirm or revise previous

evaluations

Lecturer: Kofi Barimah 8

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• Faithful representation

• Should be capable of portraying the economic phenomena that it

purports to represent faithfully

• The depiction of the economic phenomenon must be complete,

neutral and free from material error

• It should depict the economic substance of the underlying

transaction, event or circumstance

• Completeness is where the depiction omits nothing, as the

information will be otherwise false or misleading

Lecturer: Kofi Barimah 9

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• Neutrality is absence of bias designed to achieve a specific result

or to induce a particular behaviour

• Taken together, completeness and neutrality would ensure a

certain level of accuracy (absence of material error) and reliability

• With such attributes, information provided to management will

result in good decision making

Lecturer: Kofi Barimah 10

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• Comparability

• It requires consistency of treatment across like items over time,

within the entity and across entities

• This will ensure comparability:

• through time to identify trends, and

• with other entities’ financial information to evaluate relative

performance and financial position

• Identification of similarities in and differences between two sets of

economic phenomena

Lecturer: Kofi Barimah 11

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• Verifiability

• Different knowledgeable and independent observers could reach

general consensus that either:

• the information represents the economic phenomena that it

purports to represent without bias or material error; or

• an appropriate recognition or measurement method has been

applied without material error or bias

• Direct verification: amount or other is itself checked. Indirect: by

checking the inputs and recalculating the outputs

Lecturer: Kofi Barimah 12

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• Timeliness

• Information available to decision makers before losing its

capacity to influence decisions

• Availability of relevant information later than required can strip it

of its usefulness

• As information ages, it loses its usefulness for decision making

Lecturer: Kofi Barimah 13

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• Understandability

• The quality of information enhances its comprehension by users

• When information is classified, characterised and presented clearly

and concisely, its understandability is enhanced

• Users of financial information and reports are assumed to have a

reasonable knowledge of business and economic activities

• To make decisions, they should also be able to review and analyse

the financial information diligently

• For complex information, some users may consult advisors

Lecturer: Kofi Barimah 14

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• Constraints on financial information

• Two pervasive constraints limit ability to provide financial

information:

• Materiality: information whose omission or misstatement

influences the decision of users relying on financial reports.

Thus material omissions will result in information being

incomplete, biased or not free from error

• Cost: the benefits of financial information should justify its

costs

Lecturer: Kofi Barimah 15

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

Lecturer: Kofi Barimah 16

L E A R N I N G O B J E C T I V E S 1 A N D 2

RELEVANCE, RELIABILITY AND ACCURACY OF INFORMATION

• The Conceptual Framework deals with the characteristics of

accounting information in financial statements

• These also apply to management accounting information

• As we learned in lecture 1, financial accounting information is

directed towards the needs of external users, whereas

management accounting information is principally for internal users

• These characteristics may also apply to non-accounting, statistical

information that is more prevalent in management accounting

Lecturer: Kofi Barimah 17

L E A R N I N G O B J E C T I V E S 3

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• The types managerial reports include the following:

• Cost and sales reports (job, process and service)

• Budget reports (operational and cash)

• Divisional, segment, departmental (responsibility) reports

• Investment appraisal reports

Lecturer: Kofi Barimah 18

L E A R N I N G O B J E C T I V E S 3

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

Lecturer: Kofi Barimah 19

L E A R N I N G O B J E C T I V E S 3 - C O S T & S A L E S V A R I A N C E

R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• In a standard costing system, the following four are involved:

• Setting of standards based on pasts historical records or

engineering studies for material, labour, services and sales

• Comparison of actual with standard performance

• Analysis and reporting of variances to identify the cause and

ultimate responsibility

• Investigation of significant variances so appropriate corrective

action can be taken

Lecturer: Kofi Barimah 20

L E A R N I N G O B J E C T I V E S 3 C O S T & S A L E S V A R I A N C E R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• The main purposes for variances reports are

• to isolate off-standard performance

• to provide reasons for the variances

• to provide the basis to improve operations, correct errors and

deploy resources more effectively to reduce costs

• To be effective, variance reports should be produced at appropriate

and regular intervals

Activity 1 - Suggest some limitations of the practical application of

standard costing

Lecturer: Kofi Barimah 21

L E A R N I N G O B J E C T I V E S 3 - B U D G E T R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• A budget is part of a long-term, organisation-wide strategic plan

• The stages involved in establishing a strategic plan are contained in

the next slide

• Once established, the plan is broken down into short-term, annual

plan for implementation

• Actual results are recorded and analysed against budget provision

to responsible managers

• Information about actual results is fed back to the responsible

management in the form of budget control reports

Lecturer: Kofi Barimah 22

L E A R N I N G O B J E C T I V E S 3 - B U D G E T R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

The Planning

Control Cycle

Lecturer: Kofi Barimah 23

L E A R N I N G O B J E C T I V E S 3 - B U D G E T R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• From the budget control reports on the difference between

budgeted and actual expenditure, managers can take any of the

following actions:

• Take control action by identifying reasons for divergence and

taking corrective measures, if need be

• Do nothing if results are going better than planned, or poor

results are unlikely to happen in the future

• Alter the budget if actual results are due to unrealistic targets in

the budget and can do nothing to correct the situation

Lecturer: Kofi Barimah 24

L E A R N I N G O B J E C T I V E S 3 - D I V I S I O N A L & S E G M E N T R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• Where there is decentralisation of authority it becomes necessary

to report the performance of the decentralised units

• The decentralised units are consequently created for which

managers are responsible

• In such a system of responsibility accounting the common centres

often created is on the next slide

• Each responsible manager plans and controls their areas and their

performance is regularly measured and reported to them

• Managers must only be held responsible for factors they control

Lecturer: Kofi Barimah 25

L E A R N I N G O B J E C T I V E S 3 - D I V I S I O N A L & S E G M E N T R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

Lecturer: Kofi Barimah 26

L E A R N I N G O B J E C T I V E S 3 - D I V I S I O N A L & S E G M E N T R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• The following is usually contained in divisional, segment and

decentralised responsibility reports:

Lecturer: Kofi Barimah 27

Cost centre Profit centre Investment centre Revenue centre

What is it? Part of the business

for which costs are

identified and

recorded

Part of the business

for which costs

incurred and revenue

earned identified and

recorded

Part of the business

for which profits and

capital are meaured

Part of the business

for which revenues

earned are identified

and recorded

Where might it

be found?

Any production or

service location,

function, activity or

item of equipment

Divisions of large

operations; may

include several costs

and revenue centres

Business units of

large organisations

Sales divisions

How is

performance

measured?

Have cost targets

been achieved?

What profit has been

made by the centre?

Return on capital

employed and

residual income

What revenue has

been earned

What are the

manager's info

needs?

Costs incurred and

charged tot he cost

centre

Information about

costs and revenues

allocated

Information on

costs, revenue and

capital employed

Sales revenue

earned

L E A R N I N G O B J E C T I V E S 3 - D I V I S I O N A L & S E G M E N T R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• The performance of an investment centre is usually monitored using

either or both of return on investment (ROI) and residual income (RI)

• ROI shows how much profit has been made in relation to the amount of

capital invested and is calculated as (profit/capital employed) x 100%

• There is no generally agreed method of calculating ROI

• It can have behavioural implications and lead to dysfunctional decision

making

• It focuses attention on short-run performance whereas investment

decisions should be evaluated over their full life

Lecturer: Kofi Barimah 28

L E A R N I N G O B J E C T I V E S 3 - D I V I S I O N A L & S E G M E N T R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• RI can sometimes give results that avoid the behavioural problem

of dysfunctionality

• Its weakness is that it does not facilitate comparisons between

investment centres

• It also does not relate the size of a centre's income to the size of

the investment

• RI is a measure of the centre's profits after deducting a notional or

imputed interest cost

Lecturer: Kofi Barimah 29

L E A R N I N G O B J E C T I V E S 3 - I N V E S T M E N T A P P R A I S A L R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• Investment appraisal relates to methods and techniques used in assessing

the viability and feasibility of long-term investment projects

• Managers would want to know whether such projects would be profitable,

before resources are invested in them

• Such projects require significant initial financial outlay, and the product will

be used over several years

• Managers may also have a number of alternative projects from which to

choose

Lecturer: Kofi Barimah 30

L E A R N I N G O B J E C T I V E S 3 - I N V E S T M E N T A P P R A I S A L R E P O R T S

DIFFERENT TYPES OF MANAGERIAL ACCOUNTING REPORTS

• Investment appraisal techniques can assist them in in choosing the

best option

• The following techniques are commonly used in making investment

appraisal decisions:

• ROCE(Return on capital employed)

• Payback

• Net present value

• Internal rate of return

Lecturer: Kofi Barimah 31

REFERENCES

CIMA (2007). "Standard Costing and Variance Analysis", Topic

Gateway Series No. 24, Online:

http://www.cimaglobal.com/Documents/ImportedDocuments/cid_tg_st

andard_costing_and_variance_analysis_mar08.pdf.pdf [Accessed:

03/09/2017]

32Lecturer: Kofi Barimah

http://www.cimaglobal.com/Documents/ImportedDocuments/cid_tg_standard_costing_and_variance_analysis_mar08.pdf.pdf

RT-F4/Management Accounting/Support/Management Accounting - Lecture 4.pdf

L4: MICROECONOMIC

TECHNIQUES

UNIT 5 MANAGEMENT

ACCOUNTING

Lecturer: Kofi Barimah

L4: MICROECONOMIC TECHNIQUES UNIT 5 MANAGEMENT ACCOUNTING

Lecturer: Kofi Barimah

L E A R N I N G O U T C O M E S

LEARNING OUTCOMES AND OBJECTIVES

1. Demonstrate an understanding of management accounting

systems

2. Apply a range of management accounting

techniques

3. Explain the use of planning tools used in management accounting

4. Compare ways in which organisations could use management

accounting to respond to financial problems

3Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E S

LEARNING OUTCOMES AND OBJECTIVES

1. Meaning of cost and different costs and analysis

2. Cost-volume-profit analysis

3. Flexible budgeting and cost variances

4. Applying absorption and marginal costing

4Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - D E F I N I N G C O S T

COST AND COST ANALYSIS

• Horngren et al define cost as a resource sacrificed or forgone to

achieve a specific objective; an actual expenditure incurred in acquiring

a resource

• An item for which cost is measured is known as a cost object, which

may be a product, a service, a customer, a project, an activity or a

department

• In a management accounting system, costs are accumulated in a

systematic manner, and assigned to cost objects in order to:

• make decisions, e.g. whether to continue a product line

• control and motivate e.g. give incentives to employee to improve

5Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C L A S S I F Y I N G C O S T S

COST AND COST ANALYSIS

6Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C L A S S I F Y I N G C O S T S

COST AND COST ANALYSIS

• Non-production costs are costs not directly associated with the

production processes in a manufacturing organisation

7Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C L A S S I F Y I N G C O S T S

COST AND COST ANALYSIS

8Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C O S T B E H A V I O U R

COST AND COST ANALYSIS

• Total variable costs change in tune with the changes in the level of

activity

• Variable cost per unit is constant

9Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C O S T B E H A V I O U R

COST AND COST ANALYSIS

• Total FC remains constant within certain output and revenue limits,

and doesn’t change with changes in the level of activity

• FC per unit declines as out increases but doesn’t get to zero

10Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C O S T B E H A V I O U R

COST AND COST ANALYSIS

• Step fixed cost is one which is only fixed within a certain level of

activity. Once the upper level is reached, a new level of fixed cost

becomes relevant

11Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C O S T B E H A V I O U R

COST AND COST ANALYSIS

• A mixed cost has a fixed and a variable element, e.g. telephone

charges with fixed line rental and charge per call

• Total cost rises, and cost per unit declines,with increasing level of

activity

12Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C O S T A N A L Y S I S

COST AND COST ANALYSIS

• You can analyse costs into fixed and variable elements by the

high/low method:

• Select high and low levels of activity and their associated costs

• Variable cost per unit =

• Fixed cost is derived by substitution:

FC per unit = TC - (VC per unit x Number of units)

13Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C O S T A N A L Y S I S

COST AND COST ANALYSIS

Class Activity 1 - The meals sold at a restaurant over six of months and cost

preparing meals are follows:

Calculate the FC and VC elements

Month Cost Meals

1 15867 21605

2 13343 15025

3 14027 16127

4 17159 2600

5 18657 28310

6 15539 20599

Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C O S T A N A L Y S I S

COST AND COST ANALYSIS

• The least square regression analysis can also be used to separate

the variable cost and fixed cost element of semi-variable costs

• It uses the function of a straight line to determine the intercept on

the y-axis, which represents the fixed cost

• The slope of the curve determines the variable cost per unit

• The function of the straight line is in the form:

y = a + bx

15Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 1 - C O S T A N A L Y S I S

COST AND COST ANALYSIS

• Where

• a is the fixed cost and b is the variable cost per unit

• Spreadsheet functions =SLOPE can be used to calculate the VC

per unit, and =INTERCEPT can be used to calculate the FC

16Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

• Cost-Volume-Profit analysis is a technique for assessing the

responsiveness of profits to variations in costs, volumes and prices. This

tool assists managers in making decisions on

• What volume of sales to produce in order to achieve a planned profit,

• What profit should be achieved to avoid losses, and

• Whether to increase fixed costs

• Profit = Total Revenue - Total Variable Cost – Total Fixed Cost [Eq 1]

• Assume selling price per unit and variable cost per unit are constant,

then:

17Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

• Total Revenue = Selling Price x Quantity

• Total Variable Cost = Variable Cost x Quantity

• Thus equation 1 can be re-written as follows:

• Profit = P x Q – V x Q – F, or

• Profit = (P – V ) x Q – F

• Where:

• P = Selling price per unit

• V = Variable cost per unit

18Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

• (P – V) = Contribution margin per unit

• Q = Quantity of goods or services sold

• F = Fixed costs

• Contribution margin per unit indicates the proportion of revenue

from each unit sold that can be applied towards fixed costs

• Once a sufficient number of units have been sold to cover all fixed

costs, all subsequent contribution margin per unit from sales is

profit

19Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

• On the assumption that fixed cost is constant, managers can

determine the expected quantity of goods or services that must be

sold to achieve an expected level of profit, by solving for Q:

• Profit = (P – V ) x Q – F

20Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

• The break-even level is the point where the number of quantity

multiplied by the contribution margin is equal to the fixed costs

• This is the level at which sufficient sales revenue have been

generated to cover the associated fixed costs, or total revenue

equals total costs. Therefore, any additional sales will be profit

• Breakeven quantity is determined by

21Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

Activity 2 — A market survey carried out by Ella Company for a new

gizmo indicates that the product can be sold at £40 per unit. The fixed

cost for the period is £8430, and the variable selling expense is £25 per

unit. Production capacity per period is 850 units

1. Find the equations for Total Revenue and Total Cost

2. Determine the breakeven quantity

3. If Ella Company wants to earn a profit of at least £2,820, what quantity

must the company produce and sell?

4. If Ella Company sets a target of achieving a profit of £10,320, advice

the directors the implication of this

22Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

• The following assumptions underlie CVP analysis:

• Linear cost function - fixed costs remain constant, variable cost

per unit is constant

• Linear revenue function - selling price per unit remains constant

• The organisation operates within a relevant range

• The above limitations means that the tool should be used with

caution as the a basis of management decision making

• It can only provide a guide

23Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

• Break-even and cost-volume-profit analysis can be used for making

the following business decisions:

• Setting the minimum selling price

• Setting the minimum level of activity

• Planning the level of activity to generate a required profit

• Calculating the margin of safety at a given level of activity

24Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 2 - C V P A N A L Y S I S

COST AND COST ANALYSIS

• From the analyses we have carried out so far, we have learned that

the following factors influence profitability of a business

• The price at which a product is sold

• The cost of producing the product

• The level of activity or the quantity produced

25Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 3 - B U D G E T & C O S T V A R I A N C E S

COST AND COST ANALYSIS

• A budget is a quantitative statement of a plan of action for a

forthcoming period, usually one year

• A budget is a plan of what an organisation aims to do and what

targets need to be achieved within the specified period

• A budget is the basis of a budgetary planning and control system:

• Actual performance is compared with the budget

• Any deviation or variance identified is investigated

• Appropriate corrective action is taken

26Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 3 - B U D G E T & C O S T V A R I A N C E S

COST AND COST ANALYSIS

• A fixed budget is prepared at the beginning of a period on the basis

of the organisation's planned sales and production

• When the actual volumes of sales and production in a control

period are achieved as planned, there is no need to alter the

budget

• A fixed budget is usually useful in controlling fixed costs, which are

not expected to change over the planning period

• It is inappropriate in a budgetary control system to compare the

volumes of sales and production set in fixed budget which are

different from actual volumes

27Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 3 - B U D G E T & C O S T V A R I A N C E S

COST AND COST ANALYSIS

• A flexible budget is one which changes to reflect the changes in

volumes of activity

• At the end of a control period a (flexible) budget is retrospectively

prepared to compare with what the results should have been

• A business is dynamic so actual result is not expected to be exactly

as budgeted

28Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 3 - B U D G E T & C O S T V A R I A N C E S

COST AND COST ANALYSIS

Class Activity 1 - Preparation of a flexible budget

The Akaglo Company expects production and sales to be 90% of

capacity of 100,000 units of a single product. Cost estimates are

made using high-low method. The following are the historical records

of costs:

29Lecturer: Kofi Barimah

Units of

output/sales Costs (£)

9,800 44,400

7,700 38,100

Management is uncertain that the

estimates of sales and has asked flexible

budgets to be prepared for 8,000 and

10,000 units. The sales price per unit has

been fixed at £5.

Prepare appropriate flexible budgets

L E A R N I N G O B J E C T I V E 3 - B U D G E T & C O S T V A R I A N C E S

COST AND COST ANALYSIS

Activity 2 - Flexible budget and cost variances

The Angamah company budgeted to sell 200 units and produced the

following budget.

30Lecturer: Kofi Barimah

£ £

Sales 71,400

Variable costs

Labour 31,600

Material 12,600 44,200

Contribution 27,200

Fixed costs 18,900

Profit 8,300

Actual sales turned out to be

2,300 units, which were sold for

£69,000. The actual expenditure

on labour was £27,000, and on

material £24,000. Fixed costs

totalled £10,000.

Prepare a flexible budget report

useful for control purposes.

L E A R N I N G O B J E C T I V E 4 : A B S O R P T I O N & M A R G I N A L C O S T I N G

COST AND COST ANALYSIS

• Cost accounting is used to determine the cost of products, jobs or

services

• Such costs have to be built up using a process known as cost

accumulation

• Cost accounting accumulates the various cost elements which

make up total cost

• Two types of cost accounting system are in use, viz. absorption

costing system and marginal costing system

31Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 4 : A B S O R P T I O N C O S T I N G

COST AND COST ANALYSIS

32Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 4 : A B S O R P T I O N C O S T I N G

COST AND COST ANALYSIS

• In absorption costing, production overhead costs are included

(absorbed) into product or service costs

• Overhead costs are other costs incurred in making the product or

providing a service but are not directly attributable to a single

product

• They are incurred generally in the process of manufacturing a large

number of product units or providing a service

• Examples are light and heat, factory rent and rates, supervision

costs, machine depreciation

33Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 4 : A B S O R P T I O N C O S T I N G

COST AND COST ANALYSIS

• Reasons for using absorption costing:

• Inventory valuation for inclusion in the statement of profit and for

closing inventory in the statement of financial position

• Required by accounting regulation in arriving at profit

• Pricing decision so that the full product cost is established to

which a margin for profit is added - full-cost pricing

• In multi-product organisation, it allows profitability of different

products to be compared by include the fair share of overhead

costs in each product

34Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 4 : M A R G I N A L C O S T I N G

COST AND COST ANALYSIS

• In marginal costing, only those manufacturing costs that vary with

output are treated as product costs

• This includes direct materials, direct labour, and the variable

portion of manufacturing overhead

• Fixed manufacturing overhead is treated as a period cost. Thus:

• It is expensed in its entirety each period, like selling and

administrative expenses,

• The cost of a unit of product in inventory or in cost of goods sold

does not contain any fixed manufacturing overhead cost

35Lecturer: Kofi Barimah

L E A R N I N G O B J E C T I V E 4 : M A R G I N A L C O S T I N G

COST AND COST ANALYSIS

• In marginal costing

• Closing inventories are valued at marginal (variable) production cost

• If the opening and closing inventory levels differ in an accounting

period, the profit reported for the period will differ between absorption

costing and marginal costing

• In the long run, total profit for a company will be the same whichever

costing method is used

• For planning and decision-making purposes, marginal costing is useful

as a costing method

36Lecturer: Kofi Barimah

RT-F4/Managing a Succesfull Business Project/Module Booklet/Harvard Referencing.pdf

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ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT

Harvard Referencing and Citation Guidelines

Referencing:

This is a method used to demonstrate to the assessors that a learner has conducted a thorough

and appropriate literature search. Equally, referencing is an acknowledgement that you have

used the ideas and written material belonging to other authors in your own work. As with all

referencing styles, there are two parts: Citing and the Reference List.

Referencing list format:

points or numbering)

PRINTED/PUBLISHED SOURCES

Book: by one Author

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Reference List: Barker, R., Kirk, J. and Munday, R.J. (1988) Narrative analysis. 3rd ed. Bloomington: Indiana University Press. In text reference for the above examples:

Book: Translated Author (surname), Initials. (Year) Title of book. Translated from (language) by (name of translator) Place of publication: Publisher.

Canetti, E. (2001) The voices of Marrakesh: a record of a visit. Translated from German by J.A.Underwood. San Francisco: Arion.

Multiple Books by same Author published in the same year Author (surname), Initals.(Year a/b/c) Title of book. Place: Publisher.

Soros (1966a) mentioned in his …………… According to Soros (1966b) modern literature……….

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Chapter of edited book or Secondary reference for Book and Journal

When an author refers to another author’s work and the primary source is not available

References List:

N.B. You are advised that secondary referencing should be avoided wherever possible and you should always try to find the original work

Journal Articles

Boughton, J.M. (2002) The Bretton Woods proposal: an in-depth look. Political Science Quarterly, 42(6), pp.564-78.

Foreign Journal

Author (surname), initials. (Year) Title of article [square brackets] Journal title Edition Page number Language of translation (round brackets) References List:

Caballero, D. (2003) [Policing without borders] Cambi16. 1(668) pg. 24 (in Spanish)

Report

Author (surname), initials. (Year) Title of report (underline or italicise) Publisher Report code and number (in brackets) References List:

Dearing, R. (1996) Review of qualifications for 16 – 19 year olds: quality and rigour in A Level examinations. London: SCAA Publications (COM/96/467)

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Annual Report:

Corporate author, Year of publication. Full title of annual report (if available), Place of Publication: Publisher.

Hounsome, I. W. (2001) Factors affecting the design and performance of flexible ducts in trench reinstatements. Unpublished Ph.D. thesis. Napier University.

Newspaper

Article with author

Author (surname), initials. (Year) Article Title (underline or italicise) Name of Newspaper Date (day, month, year) Page number References List:

Ward, L. (2004) Diploma plan to reward lower and higher abilities. The Guardian.18th February, p.4.

Article without an author

Title of publication Year of publication (in brackets) Title of article (underline or italicise) Day and Month Page number References List:

The Guardian (2004) HSBC CEO has come down at last. 23rd November, p. 10.

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ELECTRONIC SOURCES

Electronic Book (e-book)

Author (surname), initials. (Year) Title of book (underline or italicise) Name of e-book supplier [Online] Available at: URL (Date accessed) References List:

Articles in Electronic Journal

Haliday, J. (2004) 'Ford dealers test custom cable ads', Advertising age,75 (42), pg. 6. Proquest [Online]. Available at: http://proquest.umi.com/ (Accessed: 23 November 2004).

Article in Internet Journal Database

Lloyd, J. (2001) Blessed are the pure in heart: globalisation. New Statesman, 23 April [Online]. Available at: http://www.findarticles.com/p/articles(Accessed: 23 November 2004).

Online Material in the Internet without Date

Author (surname), initials. (Year) Title of article (underline or italicise) [Online], issue [Online] Available at: URL of web page (Date accessed).

References List:

Lloyd, J. (No Date) Blessed are the pure in heart: globalisation [Online]. Available at: http://www.findarticles.com/p/articles (Accessed: 23 November 2004).

Online Material from Internet without Author’s Name

Name of the Organisation, (Year) Title of article (underline or italicise) [Online] Available at: URL of web page (Date accessed).

References List: Marks & Spencer (2010) Marks and Spencer’s Corporate Strategy [Online]. Available at: http://www.m&s.co.uk/corporate/ (Accessed: 23 November 2004)

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Images from the Internet

Author (surname), initials. (Year) Title of image (underline or italicise) [Online image] Available at: URL (Date accessed) References List:

Marshall, J. (2000) Cathedral clock. [Online image]. Available at: http://www.westminstercathedral.org.uk/art/art_cathclock.html (Accessed 23 November 2004).

OTHER SOURCES

Computer Programme

References List:

Sanders, B. and William, B. (2001) Java in 2 semesters. (version 2) [computer programme] Microsoft Inc. New York.

Atlas

As for books, using the title page to find the information

References List:

The times atlas of the world (2004) London: Times Books.

Video / Film

Title of programme/film (underline or italicise) Year of distribution (in brackets) Director [Videocassette] Place of distribution: distribution company

References List

All about Eve (1977) Directed by Joseph Mankiewiez [Film]. United States: Twentieth Century Fox.

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Television programme Title of programme (underline or italicise) Year of publication (in brackets) Name of channel Date of transmission (day/month/time)

References List

Coronation Street (2004) ITV1, 25 November. 19.00hrs.

Audiocassette/CD/DVD

Author (if available, if not use title first) Year of publication (in brackets) Title of recording (underline or italicise) [Audiocassette] Place of publication: publisher. References List

Buenos: world Spanish (1995) [Audiocassette or CD or DVD]. London: BBC Books.

QUOTATIONS AND CITING INSIDE THE TEXT

You can incorporate references and quotations in a number of ways. The following examples use the Harvard Referencing.

Short quotations of a sentence or two are enclosed with quotation marks (“…”) and included in the main text.

Short Quotation

In this example, you are making a direct quote. Up to two lines can be included in the body of the text and must include the page number.

Smith (2003, p. 11) states that “Harvard referencing has to be done accurately”

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Longer Quotation

This should be indented in a separate paragraph. If part of the quotation is omitted, then this can be indicated by three dots.

Citations (inside the text)  If the originator’s name occurs naturally in the sentence, the year of publication

should follow in brackets. Example

Smith (2003) found that…or, In a recent study Smith (2003) argued that…

 If the author’s name would not naturally be included in the sentence add the author’s

name and year of publication in brackets i.e. Example

Management theories have become much more diverse (Anderson, 1996)

 For publications by two authors:

Example

In a recent study (Smith & Jones, 2003) it was argued that…

 If you are referring to a particular page or section of a work and the author’s name

would naturally be included in the sentence the date and page numbers follow in brackets i.e.

Example

In a recent study Smith (1996, p.26) argued that….

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 If the author’s name will not normally be included in the sentence all information is given in brackets i.e.

Example

In a recent study (Smith, 1996, p.26) it was argued that…

 In cases where the name of the author cannot be identified, the item should be referred to by title:

Example

Figures in a recent survey (Tourism trends, 2003. p. 12) showed that…

 In cases where the date of an item cannot be identified, the item should be cited:

Example

The earliest report (Smith, no date, p. 231) showed that…

 If the author and date are unknown:

Example

 When you refer to a corporate publication e.g. a company report, use the Company

Name: Example

A survey (Tourism trends, no date) showed that…

The recession affected………..(Hanson Trust plc, 1990)

RT-F4/Managing a Succesfull Business Project/Module Booklet/Unit 6 Managing a Successful Business Project Assignment Brief - Feb 2018 NN.pdf

ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT Pearson BTEC HND in Business (RQF)

Unit Level 4 Managing a Successful Business Project

Assignment Brief February 2018

Programme title TNA67 Pearson BTEC HND in Business

Unit number and title Unit 6 Managing a Successful Business Project

Unit Type Core

Unit Level and Credit Value

Level 4 15 Credit

Assessor (s) Mr Neil Coade, Dr A Akanga, Mr Andrew Appiah, Mr K Barimah, M Antony Dilleen, Mr Bekhzod Klichev

Issue Date 3 March 2018

Final assignment submission deadline

11-16 June 2018

Late submission deadline

18-23 June 2018

Resubmission deadline TBA

Feedback

Formative feedback will be available in class during the semester.

Final feedback will be available within 2 weeks of the assignment submission date.

General Guidelines

 The work you submit must be in your own words. If you use a quote or an illustration from somewhere you must give the source.

 Include a list of references at the end of your document. You must give all your sources of information.

 Make sure your work is clearly presented and that you use correct grammar.

 Wherever possible use a word processor and its “spell-checker”.

Internal verifier Prof Nurun Nabi

Signature (IV of the brief) *

[email protected] Date 1/3/18

Assignment Brief – continued

ICON College of Technology and Management Pearson BTEC HND in Business (RQF)

Unit 6: Managing a Successful Business Project (L4) Session: February 2018

Coursework Recommended Word limit: 3,000–4,000

This Unit will be assessed by assignment. You are strongly advised to read “Preparation guidelines of the Coursework Document” before answering your assignment. ASSIGNMENT

Assignment Context and Business Scenario

You have been employed as a Business Researcher by an organisation of your choice to investigate the design, development and implementation of a business project in the digital and customer sensitive business environment of 2017 and beyond. You are required to investigate the market and business environment and to understand

and develop a digital strategy that can support the competitive advantage created by a

project team. This will include project objectives, structure, size and scope, as well as the

impact of the digital strategy on key stakeholders.

KEY QUESTION

HOW BUSINESSES HAVE COPED WITH THE MAJOR CHALLENGES OF

DIGITAL DISRUPTION AND TRANSFORMATION

Digital technology had revolutionised the way we conduct business. Over the last decade it has

dramatically changed traditional business models and transformed business activities. The use

of digital mobile technology has provided businesses with a wealth of choice and opportunity.

This has enabled existing products to become profitable and innovative new products to be

developed, leading to increasingly diverse product portfolios. Its impact is evident at the core of

all key business systems:

Administration – cloud technology enables effective filing, storage and sharing of information.

Communication – social media and mobile technology allows businesses to connect.

Storage and Distribution – ‘The Internet of Things‘ is connecting and integrating systems

throughout business structures.

Production – Artificial intelligence and big data analytics are driving innovation and product

growth.

However, changes in the way we work are not without their challenges, as businesses have to

adapt and deal with change management, recruit and sustain creative talent, invest in new

technologies and respond to an ever-increasing competitive environment. This project will

provide the student with the opportunity to examine the impact of digital technology on how we

Assignment Brief – continued

conduct business and consider the implications of digital technology in the workplace and how it

is shaping the future workforce. It will enable researchers to explore both the challenges and

opportunities that rapid technological advances represent for businesses.

Milestones and interim feedback

The purposes of milestones are to monitor the progress of the project and to maintain momentum, making it more likely that the project will succeed. Each milestone should be a clear, achievable activity that the student aims to achieve by a particular time. Students should agree at least two milestones with their tutor. Examples of milestones include:

• Producing a first draft of findings

• completing all primary research

At each milestone, the tutor will liaise with the student to check whether it has been achieved and advise as necessary.

What you must do

The following tasks are required to be carried out: LO1: Establish project aims, objectives and timeframes based on the chosen theme. Devise project aims and objectives for a chosen scenario [P1] Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk and resources [P2] Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for completion [P3] To achieve M1, Produce a comprehensive project management plan, milestone schedule and project schedule for monitoring and completing the aims and objectives of the project. To achieve D1 (LO1 & 2) critically evaluate the project management process and appropriate research methodologies applied. LO2: Conduct small-scale research, information gathering and data collection to generate knowledge to support the project. Carry out small-scale research by applying qualitative and quantitative research methods appropriate for meeting project aims and objectives. [P4]

To achieve M2, Evaluate the accuracy and reliability of different research methods applied. To achieve D1, (LO1 & 2) Critically evaluate the project management process and appropriate research methodologies applied.

Assignment Brief – continued

LO3: Present the project and communicate appropriate recommendations based on meaningful conclusions drawn from evidence findings and /or analysis. Analyse research and data using appropriate tools and techniques [P5]

Communicate appropriate recommendations as a result of research and data analysis to

draw valid and meaningful conclusions [P6]

To achieve M3, Evaluate the selection of appropriate tools and techniques for accuracy and authenticity to support and justify recommendations. To achieve D2 (LO3 & 4), Critically evaluate and reflect on the project outcomes, the decision making process and changes or developments of the initial project management plan to support justification of recommendations and learning during the project. LO4: Reflect on the value gained from conducting the project and its usefulness to support sustainable organisational performance. Reflect on the value of undertaking the research to meet stated objectives and own learning and performance [P7] To achieve M4, Evaluate the value of the project management process to meet the stated objectives and support own learning and performance.

Assignment Brief – continued

Assessment Criteria

Pass Merit Distinction

LO1 Establish project aims, objectives and timeframes based on the chosen theme.

P1 Devise project aims and objectives for a chosen scenario.

P2 Produce a project management plan that covers aspects of cost, scope, time, quality, communication, risk and resources.

P3 Produce a work breakdown structure and a Gantt chart to provide timeframes and stages for completion.

M1 Produce a comprehensive project management plan, milestone schedule and project schedule for monitoring and completing the aims and objectives of the project.

LO1 & 2

D1 Critically evaluate the project management process and appropriate research methodologies applied.

LO2 Conduct small-scale research, information gathering and data collection, generating knowledge to support the project.

P4 Carry out small-scale research by applying qualitative and quantitative research methods appropriate for meeting project aims and objectives.

M2 Evaluate the accuracy and reliability of different research methods applied.

LO3 Present the project and communicate appropriate recommendations based on meaningful conclusions drawn from the evidence findings and/or analysis.

P5 Analyse research and data using appropriate tools and techniques.

P6 Communicate appropriate recommendations as a result of research and data analysis to draw valid and meaningful conclusions.

M3 Evaluate the selection of appropriate tools and techniques for accuracy and authenticity to support and justify recommendations.

LO3 & 4

D2 Critically evaluate and reflect on the project outcomes, the decision- making process and changes or developments of the initial project management plan to support justification of recommendations and learning during the project.

LO4 Reflect on the value gained from conducting the project and its usefulness to support sustainable organisational performance.

P7 Reflect on the value of undertaking the research to meet stated objectives and own learning and performance.

M4 Evaluate the value of the project management process and use of quality research to meet stated objectives and support own learning and performance.

Assignment Brief – continued

Relevant Information Guide to student 1. Preparation guidelines of the Coursework Document

a. All coursework must be word-processed. b. Document margins must not be more than 2.54 cm (1 inch) or less than 1.9cm (3/4 inch). c. The assignment should be in a formal business report style using single spacing and font

size 12. d. Standard and commonly used typeface such as Arial should be used. e. All figures, graphs and tables must be numbered. f. Material taken from external sources must be properly referenced using the Harvard

referencing system. g. You should provide references using the Harvard referencing system. h. Do not use Wikipedia as a reference.

2. Plagiarism and Collusion

3. Submission

a. Initial submission of coursework to the tutors is compulsory in each unit of the course. b. Student must check their assignments on ICON VLE with plagiarism software Turnitin to

make sure the similarity index for there assignment stays within the College approved level. A student can check the similarity index of their assignment three times in the Draft Assignment submission point located in the home page of the ICON VLE.

c. All Final coursework must be submitted to the Final submission point into the unit (not to the Tutor). A student would be allowed to submit only once and that is the final submission.

d. Any computer files generated such as program code (software), graphic files that form part of the coursework must be submitted as an attachment to the assignment with all documentation.

e. Any portfolio for a unit must be submitted as a hardcopy to the Examination Office. f. The student must attach a tutor’s comment in between the cover page and the answer in the

case of Resubmission. 4. Good practice

a. Make backup of your work in different media (hard disk, memory stick, etc.) to avoid distress due to loss or damage of your original copy.

5. Extension and Late Submission and Resubmission

a. If you need an extension for a valid reason, you must request one using an Exceptional Extenuating Circumstances (EEC) form available from the Examination Office and ICON

Assignment Brief – continued

VLE. Please note that the tutors do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick.

b. Late submission will be accepted and marked according to the College procedure. It is noted that late submission may not be graded for Merit and Distinction.

c. All Late coursework must be submitted to the Late submission point into the unit (not to the Tutor). A student will be allowed to submit only once and that is the final submission.

6. Submission deadlines

Submission deadlines Online to the ICON College VLE Final Submission date: 11-16 June 2018 Late Submission date: 18-23 June 2018

Glossary:

Analyse: Break an issue or topic into smaller parts by looking in depth at each part. Support each part with arguments and evidence for and against (Pros and cons). Break something down into its components; examine factors methodically and in detail to recognise patterns by applying concepts and making connections to predict consequences. Apply: Use a particular method/technique to solve a problem Critically Evaluate/Analyse: When you critically evaluate you look at the arguments for and against an issue. You look at the strengths and weaknesses of the arguments. Conduct: To do or carry out, to organise and perform a particular activity Determine: Find a solution by argument, making clear your reasoning (e.g., determine the type of event that has occurred, based on the data provided”) (application) or “Determine the most appropriate course of action for the company, within the given constraints” (higher order skills). Demonstrate: Show that you can do a particular activity or skill. Provide several relevant examples or related evidence, which clearly support the arguments you are making. Explain: When you explain you must say why it is important or not important. Clarify a topic by giving a detailed account as to how and why it occurs, or what is meant by the use of this term in a particular context. Identify: When you identify you look at the most important points. Establish or indicate the origin, nature or definitive character of something

RT-F4/Managing a Succesfull Business Project/Module Booklet/Unit 6 Managing SBP SoW - Feb 18.pdf

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ICON COLLEGE OF TECHNOLOGY AND MANAGEMENT Pearson BTEC HND in Business (RQF)

Unit 6 Managing a Successful Business Project Scheme of Work

Session: February 2018

This unit is aimed at achieving the following learning outcomes: LO1 Establish project aims, objectives and timeframes based on chosen theme.

LO2 Conduct small-scale research, information gathering and data collection to generate knowledge to support the project.

L LO3 Present the project and communicate appropriate recommendations based on meaningful conclusions drawn from the

evidence, findings or analysis.

L LO4 Reflect on the value gained from conducting the project and its usefulness to support sustainable organizational

performance.

Programme Title: TNA67 Pearson BTEC HND in Business

Level:

Unit number and Title Unit 6 Managing a Successful Business Project

Unit Type Core

Level 4

Unit Level and Credit Value Level 4 15 Credit

Sessions Learning Outcomes Session Activities

Session 1 Lecture 2 hours Tutorial 2 hours

LO1: To introduce the Unit’s content and the Unit assessment

Introduction to the Unit learning outcome, Syllabus, and assignment briefing Reading, Academic Skill, citation and referencing, group formation.

Session 2 Lecture 2 hours Tutorial 2 hours

LO1: Establish project aims, objectives and timeframes based on a chosen theme.

Introduction to project terminology: Definition of project management and

systems; importance of integrating these

within an organisation. Origin, role and

principles of project management.

Sample activities: Developing competitive advantage within a firm: class exercise

Session 3 Lecture 2 hours Tutorial 2 hours

LO1: Establish project aims, objectives and timeframes based on a chosen theme. Topic: Avoiding Project Failure & Achieving Success

Management accounting systems:

Project systems, analysis and decision systems.

Sample activities: Question and answer activity on types of digital

technological disruption.

Group activity – Whether any or all of these project

ideas fit successfully into a project plan and why

Session 4: Lecture 2 hours Tutorial 2 hours

LO2: Conduct small-scale research, information gathering and data collection to generate knowledge to support the project. Topic: Project performance & management

Why information should be relevant to the user, up to

date, reliant and accurate

Why the way in which information is presented must

be understandable Differences types of research methods, data collection and material resourcing. Sample activities: Group activity – Relative merits and demerits of different types of research methods and reporting.

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Class discussion – Why should research information possess such attributes as relevance, reliability, timeless accuracy and understandability? Formative Feedback Brief tutor-led overview of assessment requirements Academic writing

Session 5: Lecture 2 hours Tutorial 2 hours

LO2: Conduct small-scale research, information gathering and data collection to generate knowledge to support the project. Topic: Project management Skills

What is meant by small-scale research project?

Difference between quantitative and qualitative

research. Sampling and field methods of research Applying techniques to student projects.

Session 6: Lecture 2 hours Tutorial 2 hours

LO2: Conduct small-scale research, information gathering and data collection to generate knowledge to support the project. Topic: Resource & Risk Management

Importance of Ethics and Ethical Statements in

research. Types of risks & risk management. Group activity – Comparison of digital security methods used within student projects.

Session 7 Lecture 2 hours Tutorial 2 hours

LO3: Present the project and communicate appropriate recommendations based on conclusions drawn from evidence, findings or analysis Topic: Project & Managing Change

Definition and meaning of managing change. The benefits of reducing high costs of technological change. Process and methods of managing change. Sample activities: Question and answer activity on limitations of the management of change and how managers may overcome these in applying the change and technological strategies.

Session 8 Lecture 2 hours Tutorial 2 hours

LO3: Present the project and communicate appropriate recommendations based on conclusions drawn from evidence, findings or analysis Topics: Decision Making in a Digital World

Preparing a project & budgeting.

Different types of budgets (e.g. capital and

operating). Alternative methods of budgeting.

Behavioural implications of budgets. Decision making & project planning Sample activities: Class question and answer activity – Discuss the difference between budgeting and project management monitoring & control

Group activity – Comparing and contrasting different project strategies. Formative Feedback Brief tutor-led overview of assessment requirements Academic writing

Session 9: Lecture 2 hours Tutorial 2 hours

LO3: Present the project and communicate appropriate recommendations based on conclusions drawn from evidence, findings or analysis Topics: Project Evaluation &

Evaluation of appropriate tools & techniques to support recommendations. Sample activities: Question and answer activity – what are the strengths weaknesses of your strategy for delivering digital change and value for money? Group discussion – How recommendations contained with project reports differ on the basis of value for money and

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Monitoring practical implementation challenges.

Session 10: Lecture 2 hours Tutorial 2 hours

LO4: Present the project and communicate appropriate recommendations based on conclusions drawn from evidence, findings or analysis Topics: Communication Strategies Knowledge Management

Using benchmarks. Key performance indicators (financial non-financial) and budgetary targets to identify variances and problems. Definition of communication strategies and potential challenges & outcomes. Sample activities: Group activity – Usefulness of knowledge management to improve the implementation of projects. Class discussion – progress and debate on project performance and individual tutorial support.

Session 11 Lecture 2 hours Tutorial 2 hours

LO4: Reflect on the value gained from conducting the project and its usefulness to support sustainable organizational performance. Topics: Project Learning & Practice

What are the characteristics and strengths of an effective project management team? How can these skills be improved to prevent and/or deal with problems? The development of strategies and systems which require effective and timely monitoring and control of new projects, Sample activities: Student debate – What skills set should an effective project manager possess? Are practical skills as important as conceptual and intellectual ones? Formative Feedback

Brief tutor-led overview of assessment requirements.

Open question and answer activity to address general

questions and concerns.

Review of academic requirements and submission format.

Session 12 Lecture 2 hours Tutorial 2 hours

Revision Session

Reserve class to cover any missing class and revision.

Session 13 Study week

Formative Feedback

Session 14 Final Assignment Submission

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Pearson Edexcel Standard Verifier (EE): Cheran Stevens Standard Verifier (EE): Visit Date: TBA Recommended Reading Costly, C., Elliot, G, and Gibbs, P. (2010) Doing Work Based Research: Approaches to Enquiry for insider researchers. London: SAGE Text Books: Adelman, C. (1993). Kurt Lewin and the Origins of Action Research. Educational Action Research. Vol 1:1, 7-24, DOI: 10.1080/0965079930010102 Anderson, D., & Ackerman Anderson, L. (2010). Beyond change management: how to achieve breakthrough results through conscious change leadership, San Francisco: Pfeiffer. Bailey, S. (2011), Academic Writing – A Handbook for International Students, London, Routledge Barrett, R. (2006) Building a Value driven organization.

Beerel, A. C. (2009). Leadership and change management, Los Angeles: Sage. 658.41 Burnes, B. (2014). Managing Change, 6

/e , Prentice Hall.

Burns, T. and Sinfield, S (2016), Essential Study Skills: The Complete Guide to Success at University, Los Angeles, SAGE. Cameron, E. and Green, M. (2009) Making Sense of Change Management, 2nd Ed., London: Kogan Page. Hayes, J. (2010). The theory and practice of change management, 3rd Ed., New York: Palgrave Macmillan. 658.406 Cole & Kelly (2015) Management, 8th Ed, Cengage. Hughes, M. (2010). Managing change: a critical perspective, London: CIPD. 658.406 Gray, D. (2009) Doing Research in the Real World. 2

nd Ed. London. SAGE.

Gido & Clements (2015) Successful Project Management, 6

th Ed, Cengage.

Kiechal, W. (2012), The Management Century, Harvard Business Review, November, Spotlight on HBR at 60, 62-75. Kotter, J. P. & Rathgeber, H. (2006). Our iceberg is melting: changing and succeeding under any conditions (1st St. Martin's Press ed.). New York: St. Martin's Press. Lick, U. (2011) Introducing Research Methodology: A beginners Guide to Doing a Research Project Saunders, M., Lewis, P. and Thornhill, A. (2012) Research Methods for Business Students. 6

th . Ed.

Semler, R. (1993) Maverick. Warner Books

Sutherland, J. (2014) Scrum. The art of doing twice the work in half the time. New York: Crown publishers

Tripsas, M. & Gavetti, G. (2000), Capabilities, Cognition, and Inertia: Evidence from Digital Imaging, Strategic Management Journal, 21(10/11), Oct. – Nov., pp. 1147-1161.

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Journals: Harvard Business Review (available in ICON Library) Economist (available in ICON Library Journal of Management & Change available in Business Source Complete (from 2004) Journal of Organizational Change Management available in ABI/Inform Complete (1992-on) Emerald Management Plus (1994-on) Journal of Strategic Change available in Business Source Complete (1992 -1995) Strategic Change available in Business Source Complete (1996 to present – embargo 1 year) ABI/Inform Complete (1999 - 2005) News Papers The Financial Times Business http://www.ft.com/home/uk CITY A.M. Business http://www.cityam.com/ Pearson Resources: Student Portal: HN Global Please access HN Global for additional resources support and reading for this unit. For further guidance and support on presentation skills please refer to the Study Skills Unit on HN Global. Link to: https://www.highernationals.com/

http://www.ft.com/home/uk

http://www.cityam.com/

https://www.highernationals.com/