May 1, 2014 at 7:31 pm
I am finding difficult to structure the accounting business techniques used as this is very broad . Unfortunately I do not have a mentor , so I would appreciate your help.
Do I need to explain types of budgets, budgeting techniques, variance analysis, standard costing ( even though the organisation in study offer a service and is non-profit? ) or shall I go straight to control systems?May 2, 2014 at 10:40 am
You need to find someone who will act as your mentor as you are required to give a Presentation of your RAP findings to them.
In part 2 of the report you will need to outline some budgetary techniques and then apply some of them to your organization (to satisfy the Understanding & Application assessment criteria 1 & 2) In part 3 you will need to evaluate the appropriateness of the techniques your organisation uses rather than just state them as such, otherwise you will not have any original analysis of your own.
I would suggest that you try to adapt the principles of a SWOT analysis to this part too, that is, assess the budgetary technique(s) actually used by your organisation in terms of their strengths, weaknesses etc. I am not sure about how you come up with a threat though – all I know is that I saw a project failed on this topic and it was for Application and the feedback said they hadn’t used a model and told the student to use a SWOT!!! (So ever since I’ve given this advice). Threats are supposed to be from the external environment so try to find something even if it is a bit tenuous… and of course use the SWOT heading so if the same marker actually marks it, you have ticked their box….. ( they are not going to fail you if your ‘Threat’ is nebulous if everything else meets the performance criteria ) 😀May 2, 2014 at 5:05 pm
Thank you very much for the advise! I think I was going to far with my techniques , as I also was including KPIs, balance scorecard and decision tree!
as for the mentor, I was too late to register in a college to get their mentor services but I still want to submit it on the 21so I will ask my work’s external auditor to sign it for meMay 2, 2014 at 6:06 pm
Generally it is better to outline one or two models / techniques and apply them really well than to go for too many and not do them very well. Personally I’ve found very few students do the Balanced scorecard well at all unless they actually work for the organisation so I tend to discourage its use overall. KPIs would be ok but choose the techniques you can apply the best.
Yes you need to get the mentor to sign or agree or whatever as occasionally OBU do check!
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