Hi can i please have some help/ advice with this role play the unit is provide management accounting information.

Your efforts as the Junior Management Accountant for Blue Bell Jacket Company Pty Ltd have not gone unnoticed. Congratulations! You have just been appointed as the Management Accountant for the newly formed Blue Bell Beanie Company (BBBC), another company in the Blue Bell group of companies. BBBC is a newcomer to the beanie manufacturing market and have appointed you because of your growing cost accounting expertise.

You have arranged a meeting with the following managers of the organisation:

• Finance manager
• Production and Inventory manager
• Purchasing manager
• Sales manager

The purpose and desired outcome of the meeting is:

• Outline to the other managers your role as Management Accountant and a brief explanation of the information requirements of your role
• Confirm with them the organisational policies and procedures that will apply to BBBC
• Discussion with the finance manager to identify and establish the systems required to generate operating and cost data
• Obtain from the finance manager the required structure and format of costing and budget reports
• Discuss this structure and format with the other managers to confirm it is clear and complies with their requirements

The meeting should close with confirmation of what has been discussed and agreed upon.

Role of the student being assessed

During your role play you must demonstrate the following skills:

1. Use appropriate language consult with staff to identify and establish systems required to generate operating and cost data
2. Use active listening and ask questions to obtain cost information advice when formulating cost reports and budgets
3. Confirm structure and format of budgets comply with management requirements and organisational practices
4. Outline the key requirements of own role in regard to management accounting information

Role/s of the person/s in supporting roles

Ask a colleague or peer to act in the supporting roles required for this assessment. Make sure each role has the scenario instructions to work from. Ensure there is enough information so that they can effectively contribute to the demonstration.

This role play will require two of the following roles:

• Finance manager (must include this position)

The Finance manager is responsible for budgeting and financial reporting for BBBC. They are required to provide financial advice and help make financial decisions within BBBC structure. This position must ask questions that clarify the required structure and format of costing and budget reports. Eg BBBC has not been achieving the KPIs set out in the Blue Bell policies. The analysis of the costs is not being completed in a timely manner due to the old financial system. Do you anticipate an upgrade in this system that will allow reporting in a format that will allow analysis? Do you have any examples of the structure of the costing or budgeting reports that can be generated?

• Production and Inventory manager

The Production manager oversees the warehouse team and stock levels of BBBC. They also oversee the production and inventory clerical staff. This position must ask questions to clarify the type of inventory system being used for the financial reports. For example is there one approach to the valuation of inventory or is each item using a different method based on its unique characteristics?

• Purchasing manager
• The Purchasing manager is responsible for procuring raw products and analysing the costs and quality of these materials to ensure that they are suitable for BBBC. This position must ask questions to clarify the purchasing policies and procedures, and cost percentages that need to be achieved. For example will we be adopting the organisational policies and procedures of the Blue Bell Group? I have noticed there are some areas such as the restriction on imports from a number of countries that will stop us from producing our products how will that be addressed? Alternate question, BBBC does not meet the current policy for the cost and gross margin rates outlined in the Bluebell policies and procedures. We have not been successful in addressing these KPIs as we have not been able to access timely detailed information relating to the make up of the costs due to our manual systems. Will you be introducing a cloud based integrated financial system that can provide detailed cost information in a timely manner?

Time allowed 20 minutes