Assignment Brief

BA (Hons.) International Business & Finance

Academic Year 2018-19
Module Information:
Qualification: BA (Hons.) International Business & Finance

Module Code & Title: BAIBF 10022Strategic Performance Management

Assignment Title: Individual Report

Component Weighting: 30%

Date of Issue:05-04-2019 Due date:22-04-2019, 5 PM

To be filled by the student:

Student ID:

Date of Submission:

*All work must be submitted on or before the due date. If an extension of time to submit work is required, a Mitigating
Circumstance Form must be submitted.

Has an extension been approved? Yes No

If yes, please provide the new submission date ….…/.…./……., and affix appropriate evidence.

First Marker: Second Marker:

Agreed Mark: Refer: Yes / No

General Guidelines
1. A Cover page or title page – You should always attach a title page to your assignment. Use
previous page as your cover sheet and be sure to fill the details correctly.
2. This entire brief should be attached in first before you start answering.
3. All the assignments should be prepared using word processing software.
4. All the assignments should print in A4 sized paper, and make sure to only use one side
printing.
5. Allow 1” margin on each side of the paper. But on the left side you will need to leave room for
binding.
6. Ensure that your assignment is stapled or secured together in a binder of some sort and send
the Softcopy of your final document to assignment.bahons2016@gmail.com
7. The submission of your work assessment should be organized and clearly structured.
Word Processing Rules
1. Use a font type that will make easy for your examiner to read. The font size should be 12
point, and should be in the style of Times New Roman.
2. Use 1.5-line word-processing. Left justify all paragraphs.
3. Ensure that all headings are consistent in terms of size and font style.
4. Use footer function on the word processor to insert Your Student ID, Name, Subject, Module
code, and Page Number on each page. This is useful if individual sheets become detached
for any reason.
5. Use word processing application spell check and grammar check function to help edit your
assignment.
6. Ensure that your printer’s output is of a good quality and that you have enough ink to print
your entire assignment.
Important Points:
1. Check carefully the hand in date and the instructions given with the assignment. Late
submissions will not be accepted.
2. Ensure that you give yourself enough time to complete the assignment by the due date.
3. Don’t leave things such as printing to the last minute – excuses of this nature will not be
accepted for failure to hand in the work on time.
4. A printed version of the assignment needs to be submitted physically along with
ansoftcopymailed to the email mentioned above on or before the stated deadline.
5. You must take responsibility for managing your own time effectively.
6. If you are unable to hand in your assignment on time and have valid reasons such as illness,
you may apply (in writing) for an extension.
7. Non-submission of work without valid reasons will lead to an automatic REFERRAL. You will
then be asked to complete an alternative assignment.
8. Take great care that if you use other people’s work or ideas in your assignment, you properly
reference them in your text and any bibliography, otherwise you may be guilty of plagiarism.

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
 Statement of Originality and Student Declaration

I hereby, declare that I know what plagiarism entails, namely to use another’s work and to present it
as my own without attributing the sources in the correct way. I further understand what it means to
copy another’s work.
1. I know that plagiarism is a punishable offence because it constitutes theft.
2. I understand the plagiarism and copying policy of the University of the West of Scotland.
3. I know what the consequences will be if I plagiaries or copy another’s work in any of the
assignments for this program.
4. I declare therefore that all work presented by me for every aspect of my program, will be my
own, and where I have made use of another’s work, I will attribute the source in the correct
way.
5. I acknowledge that the attachment of this document signed or not, constitutes my agreement
on it.
6. I understand that my assignment will not be considered as submitted if this document is not
attached to the attached.

Student’s Signature: Date:

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
TASK I

The role of management accountant today in a computerized environment and challenges in future

Total word Limit: 2500

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
Management accountants aid managerial planning and
commercial decision-making tasks by providing appropriate
financial information and undertaking related accounts
administration.

Management accountants look after a company’s accounts. They advise managers

about the financial implications of business decisions to aid growth and profit.

Responsibilities of the job include:

 preparing reports, budgets, commentaries and financial statements

 undertaking financial administration and internal audits
 liaising with managerial staff and other colleagues
 supervising a team of accounting technicians
 developing and managing financial systems/policies
 negotiating and obtaining finance for major projects
 controlling and forecasting income and expenditure
 creating business strategies to generate shareholder value.
Opportunities to work overseas may be offered by some employers. With experience
(at least five years), management accountants can work their way up to senior roles
such as financial controller, finance director, or the CFO of a company.

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
Need for Computerised Accounting
Its need arises from the benefits of speed, accuracy and lower cost of
handling the business transactions. Also, it has the capability to
record a large number of transactions with speed and accuracy. It
allows quick and quality reporting because of its speed and accuracy.

Manual accounting system requires large storage to keep accounting

records, and vouchers. The requirement of books and stationery and
books of accounts along with vouchers and documents is dependent
on the volume of transactions.

There is a need to reduce the paperwork and dispense with a large

volume of books of account. This can be achieved working with the
help of computerized accounting system.

Features of Computerised Accounting Environment

This Accounting System and its awareness among entities have
become a necessity in the present environment. Businesses of
whatever field and size are shifting from the practice of maintaining
accounts manually. The manual process is more time-consuming and
exposed to human error.

Storage and retrieval of data and generation of a report cannot be

ensured in real time in the traditional system. There is a need to shift
to computerized accounting systems. They have empowered
business to project accurate information of financial performance.

1. Simple and Integrated: It helps all businesses by automating and

integrating all the business activities. Such activities may be sales,
finance, purchase, inventory, and manufacturing etc. It also
facilitates the arrangement of accurate and up-to-date business
information in a readily usable form.

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
2. Accuracy & Speed: Computerised accounting has customized
templates for users which allows fast and accurate data entry.
Thus, after recording the transactions it generates the information
and reports automatically.
3. Scalability: It has the flexibility to record the transactions with the
changing volume of business.
4. Instant Reporting: It can generate a quality report in real time
because of high speed and accuracy.
5. Security: Secured data and information can be kept confidential
as compared to the traditional accounting system.
6. Quick Decision Making: This system Generates real-time,
comprehensive MIS reports and ensures access to complete and
critical information, instantly.
7. Reliability: It generates the report with consistency and accuracy.
Minimization of errors makes the system more reliable.

(source: freepik.com)

Advantages of Computerised Accounting

1. Better Quality Work: The accounts prepared with the use of
computerized accounting system are usually uniform, neat, accurate,
and more legible than a manual job.

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
2. Lower Operating Costs: Computer is a reliable and time-saving
device. The volume of job handled with the help of computerized
system results in economy and lower operating costs. The overall
operating cost of this system is low in comparison to the
traditional system.
3. Improves Efficiency: This system is more efficient in comparison
to the traditional system. The computer makes sure speed and
accuracy in preparing the records and accounts and thus,
increases the efficiency of employees.
4. Facilitates Better Control: From the management point of view,
there is greater control possible and more information may be
available with the use of the computer in accounting. It ensures
efficient performance in accounting records.
5. Greater Accuracy: Computerized accounting make sure accuracy
in accounting records and statements. It prevents clerical errors
and omissions in records.
6. Relieve Monotony: Computerized accounting reduces the
monotony of doing repetitive accounting jobs. Which are
tiresome and time-consuming.
7. Facilitates Standardization: Computerised accounting provides
standardization of accounting routines and procedures.
Therefore, it ensures standardization in the accounting records.
8. Minimizes Mathematical Errors: While doing mathematical work
with computers, errors are virtually eliminated unless the data is
entered improperly in the system.
Solved example for you
Question: What are important features of computerized
accounting?

Ans. Some important features of computerized accounting are:

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
  Simple & integrated
 Accuracy & Speed
 Scalability
 Security
 Reliability

A management information system is a set of processes that allows

companies to move information through their business operations.
Business owners and managers use the information to make
decisions, among other things. The expanding variety and use of
information technology—particularly computers—allows companies to
automate this critical business function.

identification

Many tasks in the business environment involve the use of computers.

Employees input data in software applications and programs that allow
other individuals to view the information. Owners and managers rely on
computers to access the information from the management information
systems

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
features

Computers can process certain types of business data quicker and

more accurately than employees. Accounting and finance departments,
for example, typically input data and allow the computer and software
application to generate reports based on the financial numbers.

benifits

Using computers can restrict employee access to business or financial

information in the management information systems. Most computers
or software applications require usernames and passwords to access
data. This prevents individuals from filtering or altering information
prior to review by owners and managers

In virtually every business, a computer is an essential tool for running

the day-to-day operations, enhancing productivity and communicating
with customers, suppliers and the public. Managers use computers for
a variety of reasons, including keeping their teams on track, budgeting
and planning projects, monitoring inventory and preparing documents,
proposals and presentations. Managers need to understand not only
the basic functions of the corporate software tools used in the office
but also the Internet and other external computing tools that can
improve the way they manage their departments.

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
Business Planning

Business planning can take up a lot of a manager's time, but computer programs
make it easier. From using email programs like Outlook or Google Mail to set
appointments, tasks and deadlines to using financial tools to develop budgets and
project proposals, using computers to plan the day-to-day activities of a business is
essential. Managers also use the Internet to research their industries, the
competition and to look for ideas to help them create plans to engage customers,
win more business and succeed in the competitive world of business.

Record Keeping

Managers keep track of a lot of information that is vital to the company's success.
From customer records to financial records to employee records, the data a
company has to store are seemingly endless. Using computers to store and
manage documents, files and records reduces the amount of physical storage a
company needs and also allows managers to have easy access to their files using
simple document search methods. Additionally, by keeping records, managers can
easily share information about an employee's history and job performance with
other managers in the company.

Communication

One of the most common uses for computers in business is communication.

Communication is essential not only between employees but with customers as
well. Many customer service departments use computers to log service issues and
make a record of their resolutions. Using email and instant messaging programs
allows employees to gather information from one another that they need to
complete their jobs. It also allows managers to delegate work tasks and follow up
on projects.

Document Preparation

For creating spreadsheets, presentations, memos and other corporate documents,

computers are essential in business. Managers need to have a basic
understanding of common workplace productivity software such as Microsoft
Office, but specialized industries such as advertising and marketing also require
managers to work with more advanced programs like Adobe Photoshop and
Illustrator to create visual materials for clients.

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management
 References

 Bureau of Labor Statistics: Most Common Uses for Computers at Work

 How to Use Software to Plan and Prioritize Projects
 How to: Use Technology to Manage People

MOHAMMED NARSHIL
BAIBF 10019
Strategic Financial Management