ULO 1: Develop and apply management accounting techniques for costing, control, planning, budgeting and performance measurement and management.
ULO 2: Identify, locate and synthesise management accounting information from diverse sources.
While budgets are criticized for being time consuming and providing poor value to users, they are widely used in most organizations (Sponem and Lambert, 2016). There is also significant research findings that suggest participative budgeting improve organizational performance.
In this assessment you will work collaboratively as a member of a team to write a 2500 words report and critically evaluate how participative budgeting could improve organizational performance under the agency theory.
You will work as a team with two or three others to complete this task. You are expected to meet regularly, to keep evidence of your meetings, the decisions you make during those meetings, a record of contributions to the task by each team member, and notes on how you managed the teamwork process. You will use this evidence for Part B of this task which is a written reflection on your capacity to work as a productive and positive member of the team. Teamwork is one of the vital components of many workplaces and the ability to demonstrate teamwork in the learning environment is an important component of your university education.
One important skill being assessed in this task is your capacity to work as a member of a team and to be able to identify the elements that make for a successful team. To this end, it will be important for you to consider how you might work as a team to undertake these tasks. What roles might each team member need to take on, in order to complete these steps? What discussions might you need to have, for instance, in framing the behavioural consequences of the participative budgeting that limits the effectiveness of budgets? See the assessment brief for Part B of this task for more information relating to the teamwork aspect.
What is required to complete this assessment?
1.Form a team of three or four and register the team. Details for how to register your team are on the unit’s CloudDeakin site. The sooner you organise your team, the sooner you can get started.
2.Have the initial team meeting and upload team contact.
3.Meet regularly to plan and progress towards achieving the assessment objectives (at least 3 meetings). All meeting minutes to be uploaded.
4.It is vital that as you work with your team members you compile evidence of your contributions to and interactions with the team. See the assessment brief for Part B of this task for more details.
5.Using the MAA703 Report submission template (available on the CloudDeakin site), compile the final report.
The written report must be submitted electronically by the due date by ONE member of the team (team leader). That means, only one submission per team.