Individual Assignment Specifications Purpose: This assignment aims at developing your understanding of the purpose and use of management accounting systems, and its usefulness in aiding managers make informed decisions. You are to critically evaluate the literature (using journal articles) to analyse the practical use of management accounting systems by contemporary companies, in terms of their relevance to the decision-making by managers and achievement of business goals. Assignment Task: Journal Article Critique (30 Marks) You are required to conduct a literature search and discussion in this assignment. You are to choose a peer-reviewed journal article (from any country) on the: -Use of Budgeting as a management technique for managing resources. The article should be published between 2010 2020. Choose your article only after you have accessed several relevant articles, and then choose the best articles that will answer the assignment question below. Required: Critically evaluate the relevance and challenges of budgeting systems by answering the five questions below: Questions: 1. Briefly discuss the budgeting process. (5 marks) 2. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies the purpose of planning, controlling and evaluating performance. (5 marks) 3. The two widely used practices in preparing budgets are top-down budgeting and bottom-up budgeting. Identify and explain the practice adopted by the organisation discussed in your selected journal article and further explain the behavioural implications of the adopted practice. (5 marks) 4. Based on your literature findings (above), critically evaluate the comment that traditional budgeting practices are a constraint on creativity, and the time and energy spent on budget formulation are better spent elsewhere. 5. Based on your literature findings (above), would you recommend budgeting for contemporary organisations for planning and control purpose? Explain (5 marks) Additional Information: a) You are encouraged to choose the journal article from the following Accounting and Management Accounting Journals: Accounting, Auditing and Accountability Journal; Page 3 of 6 HI5017 MANAGERIAL ACCOUNTING INDIVIDUAL ASSIGNMENT T1 2020 Journal of Management Accounting Research Journal of Applied Management Accounting Research b) You can access these journals in ProQuest Database by clicking on the above links. Log in details for ProQuest are - Username: Holmes2004; Password: Holmes. These journals can also be accessed via the ProQuest Database link available via the Student Login page in the Holmes website. You can also use Google Scholar. Dont use Google. c) No student can choose the same article as another student from the same class, else both students may receive a zero mark, at the Lecturers discretion. d) The journal article must be uploaded (as a separate PDF file) together with your assignment (as an MS WORD file format) in Blackboard under the folder. Five marks will be deducted if you do not submit the articles with your assignment. Assignment Structure: The report should include the following components: a. Assignment Cover page clearly stating your name and student number b. Abstract (one paragraph) c. Table of contents d. A brief introduction or overview of what the report is about. e. Body of the assignment with appropriate section headings f. Conclusion g. List of References.