Explanation of each and every step for the assignment

ACCT602 Managerial Accounting for Decision Making Spring 2023 L01 Engagement in the Business Community from a Managerial Accounting Perspective Individual Assignment Worth 20 marks Engagement with a Company: This project requires that you negotiate access to a Qatari company or a foreign company operating in Qatar. Directly engage with the relevant department (accounting, finance, etc.) in the company. Your engagement with the company should focus on studying and documenting the costing system they are currently using. The study should cover: A. The operating context of the company (organizational structure, manufacturing/service delivery processes, product/service diversity, product/service market, etc.); B. The type of costing system in use; C. The design of the costing system (cost flow, cost centres, cost drivers, cost assignment procedure, etc.); D. The implementation and operation of the costing system (success and challenges) The study should involve gathering data on the above through a combination of direct observation, interviews and document review. Requirement (20 marks) A. Report (18 marks) Analyse the data gathered through your engagement with the company and write a report to the Chief Executive Officer of the company. The report should cover: 1. Description of the costing system in use and an evaluation of the extent to which the costing system is suitable for the company's operational context. Your answer must include a cost flow diagram that reflects the design of the costing system. (5 marks) 2. Discussion of any three major concerns with the costing system in use and a proposal of any three recommended actions for addressing the concerns identified. (5 marks) 3. Explanation of the potential impacts of the actions you recommended in requirement 2 above. (4 marks) 4. Discussion of how feasible it would be for the company to implement the actions you recommended in requirement 2 above. (4 marks) Submission of the Report a) A soft copy of the report MUST be submitted via Blackboard by 11.59pm on April 11. 2023. b) The length and content of the report might vary from one student to another. Nevertheless, the report should not exceed 10 pages excluding the cover page and the references. c) Please use Times New Roman, 12-point font, double-spaced, and minimum of 2cm on each margin for the body of the report. B. Quiz (2 marks) a. A quiz will be conducted in class requiring you to answer specific questions relating to aspects of the report you have submitted. b. The quiz will be held in class on April 18, 2023