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Cost and Management Accounting Assignment

This document outlines an academic assignment for a Cost and Management Accounting course. Students are required to create cost sheets for an allocated company for three financial years using the company's annual reports. They will calculate items like prime cost, work cost, cost of production, cost of goods sold, and cost of sales. Their work will be evaluated based on accurately including required information, correctly using the provided data, and analyzing and interpreting the company's position over the three years. The assignment aims to test students' conceptual understanding of cost accounting concepts.

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Shubham Saurav SS
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177 views3 pages

Cost and Management Accounting Assignment

This document outlines an academic assignment for a Cost and Management Accounting course. Students are required to create cost sheets for an allocated company for three financial years using the company's annual reports. They will calculate items like prime cost, work cost, cost of production, cost of goods sold, and cost of sales. Their work will be evaluated based on accurately including required information, correctly using the provided data, and analyzing and interpreting the company's position over the three years. The assignment aims to test students' conceptual understanding of cost accounting concepts.

Uploaded by

Shubham Saurav SS
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

LOVELY PROFESSIONAL UNIVERSITY

ACADEMIC TASK 1 – Assignment

School of Business Faculty of Business and Applies Arts

Name of the Faculty Member: Dr. Gauri Dhir

Course Code: ACC205 Course Title : COST AND MANAGEMENT


ACCOUNTING

Class: B.B.A Section: Q1916 Max. Marks: 30

Date of Allotment: 16 August , 2020 Date of submission : : 31 August, 2020

Mode of submission – Online through UMS

Note- Submission through mail and LPU live is not allowed

S. Roll No Objective Topic Evaluation Expected


No s of Parameters outcomes
Academic
Activity
1 All the To test the Student is required to make Attached rubric will Application of
student conceptual the cost sheets of company be followed for concept
s clarity of allocated to him.( for three evaluation
students financial years i.e2017-18,
2018-19, 2019-20) To
make the cost sheet student
will use the annual reports
of allocated company
Rubric for Assignment

EVALUATION CRITERIA FAILS TO MEETS EXCEEDS SCORE


MEET EXPECTATIONS EXPECTATIO
EXPECTATIO (2-3 Marks) N (4-5 Marks)
NS (0-1 Mark)
[Link] Profile (5 All the required Some of the required All the required
Marks) information not information information
presented. presented Or presented in a well-
 Vision of the Company.
The presented organized manner
 Mission of the Company
information is not along with proper
 Business of the Company well organized and formatting.
(Products). formatted.
 Management of the
Company (BOD).
 Competitors.
2. Prime cost (5 Marks) Incorrect or Correct data used Correct data used
( Minimum 3 items – maximum inappropriate data with minimal errors without any errors
10 items of prime cost) (5 Marks) used.

3. Works cost (5 Marks) Incorrect or Correct data used Correct data used
( Minimum 5 items – maximum inappropriate data with minimal errors without any errors
15items of Factory overhead) used

[Link] of production and Incorrect or Correct data used Correct data used
Cost of goods sold . (5 Marks) inappropriate data with minimal errors without any errors
( (3 Marks for Cost of Production , used
2 Marks for Cost of goods sold)
( Minimum 5 items –
maximum 15 items of
Administrative Expenses)
 Note- In case Inventory
details are not there , 5
Marks are for Cost of
production only
5. Cost of Sales (5 Marks) Student is not able Student is partially Student can analyse
( Minimum 5 items – maximum 15 to analyse and able to analyse and and interpret the
items of Selling and distribution interpret the interpret the position position of
Expenses ) position of of company, company, including
company, including including indications indications where
indications where where the company is the company is
the company is lacking. lacking.
lacking.

6. Analysis and Conclusion (5 •Mostly Wrong  Minimum •Exemplary work


Marks) • Major Mistakes in acceptable work
1. Comparison of sales for overall content  Mistakes are •No Mistakes
•Unorganized
three years •No understanding there but not •Well Organized
2. Comparison of total cost major •Good level of
for three years  Organized understanding
 Adequate
3. Comparison of Profit for Understanding
three years

4. Comparison of total cost


to Prime cost, work cost ,
Cost of sales for all three
years in percentage
5. Conclusion

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