Introduction The purpose of this project is to consider the practical application of a managerial concept in a real life situation, preferably in the industry in which you expect to pursue your career. You will need to consider an operational issue that you believe could potentially be improved by the effective application of a managerial accounting concept that you have been exposed to in ACCT3000. This is a group project, please be sure to include all group member names on the cover sheet of your final report (I recommend you work in the same groups youve formed for the weekly MiniCases). Method You can choose any managerial accounting concept from the textbook that is related to what we have studied in this course. Based on your knowledge of a specific company in the industry you have picked (possibly gained through part-time employment or a summer job experience), you will highlight a situation where you believe the application of a managerial concept would benefit the company. More specifically, your work will describe a key operational issue within the company and demonstrate how the company would benefit from the appropriate application of the managerial accounting concept. Your analysis should be sufficiently detailed to clearly show how the concept would be applied and how management decision making would benefit from the change. If you wish you may also draw on resources outside of the class to enhance your analysis. You could do this by making use of the Humber library and research other resources regarding the topic of managerial accounting, such as professional journals and magazines. Format A report should be typed and a hard copy handed in to be marked. The format of the report could be organized as follows: Introduction of the topic (textbook definition and description of the concept), background on the chosen industry/company and the issue addressed, description of how the managerial accounting concept could be applied, and a summary of how successful application of the concept would lead to better management decision making in the future. The expected length of this report is 5 to 10 pages, double spaced. Grading (10 marks) Marks will be awarded for: 1- Description of industry/company and managerial accounting concept (1). 2- Application of the managerial accounting concept (4 marks).