Task
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Steven and Angela were impressed with the DFD you prepared for City Adventures. They were, however, concerned, with the number of apparent internal control issues within their sales and cash collection process. Steven and Angela has tasked you with reviewing the cash collection processes of the company and researching the potential implementation of Business Intelligence (BI). Steven and Angela have provided you with an overview of the cash collection process based on interviews with key staff (available in Interact).
Using the information provided to you and undertaking research as required, prepare a business report for the owners including the following:
- Identification of;
o internal control weaknesses in City Adventures cash collection process; (2.5 marks)
o the impact these weaknesses could have on the organisation; (2.5 marks)
o specific internal controls which could be implemented by City Adventures in the coming weeks to mitigate the risks posed by the internal control weaknesses you have identified. The owners do not want theoretical controls suggested. They want practical controls that they can implement. (5 marks) [ Note: all three (3) parts of question one (1) must be included as a table in your report] - An overview of BI, including a discussion of digital dashboards. (2 marks)
- A comprehensive analysis of how BI would impact on;
o management decision making within the organisation. (3 marks)
o the role of the management accounting team within the organisation. (3 marks)
2 Marks will be allocated for the presentation of your work, including you executive summary, conclusion, use of professional language and application of APA referencing.
Rationale
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This assessment task will assess the following learning outcome/s:
• be able to explain the impact of information technology on the nature and development of accounting.
• be able to analyse organisational processes for risk, and design appropriate control mechanisms to mitigate identified risk.
Marking criteria and standards
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Criteria HD DI CR PS
Be able to analyse organisational processes and identify relevant risks and their impacts.
(5 marks)
Outstanding evaluation of five (5) key relevant risks and of how they impact the organisation. An analysis of five (5) key relevant risks and how they impact the organisation. An above satisfactory analysis of four (4) relevant risks and an explanation of how they impact the organisation. A satisfactory analysis of three (3) relevant risks, explaining how they impact the organisation.
Ability to recommend and discuss relevant internal controls to mitigate the identified risks.
(5 marks) Provision of relevant recommendations for each identified risk, providing an outstanding level of detail regarding how they each mitigate the risks identified. Provision of relevant recommendations for each identified risk, providing a high level of detail regarding how they each mitigate the risks identified. Provision of relevant recommendations for each identified risk, providing clear detail regarding how they each mitigate the risks identified. Provision of recommendations for each identified risk, providing satisfactory detail regarding how they each mitigate the risks identified.
Be able to find and apply authoritative sources to explain the impact of technology on the development of accounting.
(8 marks) Applied a minimum of three (3) suitable authoritative sources to clearly identify and discuss information about BI. Thorough analysis of the impact of BI on management decision making and the management accounting team. Applied a minimum of three (3) authoritative sources to identify and discuss information about BI. Sound analysis of the impact of BI on management decision making and the management accounting team Applied a minimum of three (3) authoritative sources to identify and discuss information about BI. Above satisfactory analysis of the impact of BI on management decision making and the management accounting team. Applied a minimum of three (3) authoritative sources to identify and discuss information about BI. Satisfactory analysis of the impact of BI on management decision making and the management accounting team.
Academic writing skills
(2 marks) An outstanding executive summary and conclusion. Accurate use of syntax, spelling and punctuation; succinct and effective use of accounting terminology. A reference list of an extensive range of resources are used and correctly formatted using APA style. A high quality executive summary and conclusion. Accurate use of syntax, spelling and punctuation; succinct and effective use of accounting terminology. A reference lists a broad range of relevant resources used, correctly formatted using APA style. An above satisfactory executive summary and conclusion. Mostly accurate spelling and punctuation. Clarity and coherence of written expression in desired report format. A reference list is formatted in APA style, with few or no errors A satisfactory executive summary and conclusion. Some minor spelling and grammar errors. A few minor errors in the report format used. A reference list is used, formatted in APA style, with minor errors.
Presentation
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Your assignment needs to be presented as a business report to the owners. A business report includes;
• a cover page addressed to your desired audience;
• an executive summary (refer to the note below regarding an executive summary);
• a table of contents (linked to the headings in the report);
• headings and sub headings clearly identify what is being discussed;
• a conclusion, including recommendations as required; and
• referencing (using APA style).
Note: an Executive Summary is not an introduction. An Executive Summary should be an overview of the entire report, including recommendations, and no longer than one (1) page in length. This may be the only page read by busy managers.
Marks will be deducted where you have exceeded the word count for your Assignment. The word count does not include your:
• cover page;
• executive summary;
• table of contents;
• tables of figures; and
• referencing (in text citations and reference list).
Requirements
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APA must be used to reference all sources you have used for your assignment. The CSU Library site provides an on-line guide to APA style referencing. This is the referencing style adopted by the School of Accounting and Finance. The guide can be found at: https://apps.csu.edu.au/reftool/
Review the rules regarding plagiarism and if you are not sure contact your lecturer or student learning skills advisor for advice. There is no excuse for presenting the work of others as your own; this includes cutting and pasting material from the web without properly referencing the source.
Your assignment must be submitted via EASTS in word format only (not in pdf). As a CSU student you are entitled to a free copy of Microsoft Office 2013 Suite. Details to find out further information can be found below under 'Online Submission'.
Any difficulties in submitting your assignments online electronically using EASTS should be immediately reported by email. Include your name and student number in the header or footer of all documents submitted. Retain a copy of your assignment for your records.