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QUESTION 3 A. Strategic management accounting is a new form of management accounting that focus on information relating to external business situations, non-financial information or other internal information relating to various business decisions. With new challenges in business environment such as the global competition and vital needs for customer focus, managers are now looking for new approach in business that is Strategic Management Accounting. The new Strategic Management Accounting is concerned with providing "management accounting in the context of business strategies being planned and implemented by an organisation". With new challenges in business environment such as the global competition and vital needs for customer focus, managers are looking for new technique that is Strategic Management Accounting, in order to gain competitive advantages in business. Required: Explain about the definition and the three areas of Strategic Management Accounting that makes it different from conventional management accounting (14 marks) B. The production manager is faced with a decision about how to improve the existing manufacturing operations and efficiency inside the factory. In view of that, you are required to assist the production manager by preparing a report covering a brief explanation, the costs and the benefits of one of the new techniques under the Strategic Management Accounting that is the Kaizen Costing system. (6 marks) QUESTION 4 The Balanced Scorecard (BSC) is a means for measuring and managing all aspects of organizational performance. The Balanced Scorecard translates mission and strategy into objectives and measures. It is a set of measures that gives top management a fast but comprehensive view of the business. In the global knowledge economy, the creation, sustenance and the application of knowledge has become the key differentiator of success in an organization. Many companies have realised that management of knowledge and the knowledge workers as a critical source of competitive edge than the traditional effective physical asset management. Required: a. Why do the measures used in a BSC differ from company to company? (2 marks) b. How does the Balanced Scorecard approach differ from traditional approaches of performance management? (2 marks) C. Explain why managers need a Balanced Scorecard to measure and manage intangible assets for value creation. (4 marks) d. Critically evaluate the important perspectives of Balanced Scorecard. In a strategy map, explain the cause-and effect linkages among these four perspectives. (12 marks)QUESTION 5 / A. The purchasing manager of Gemilang Berhad is paid a salary plus a bonus based on the net favourable materials price variance. Generally, this bonus amounts to 30% - 40% of the manager's total compensation. The standards price for one important raw material that is the synthetic rubber grade 3A is RM56 per kg. Due to purchasing manager's good bargaining skills, there is an opportunity for the company to obtain a higher quality of material synthetic rubber, grade 4A, for the price of RM62 per kg. The quality of the final product will be the same regardless of the grade of material synthetic rubber being used. However, there will be substantial favourable variance in material yield and labour productivity if material synthetic rubber, grade 4A, is being used in the production process. These savings are expected to be two to three times better than the additional cost of RM6 per kg. Required: a. How would an adverse price variance on a particular purchase of higher quality of material synthetic rubber, grade 4A, affect the overall price variance for the year? (3 marks) b. Would the use of the materials price variance as a basis for the purchasing manager's bonus lead to a desirable behavioural outcome? Will the purchasing manager would likely to pursue acquisition of the grade 4A material synthetic rubber? Discuss your answers. (5 marks) B. Zahran works as a Marketing Manager and Amir works as a Financial Controller in the same company. While having his dinner with Amir, Zahran has accidentally told Amir that he consistently overstated the amount of resources needed in his budget requests for his division, and that he was able to obtain the budget requested every year. Amir was very furious about this, and he totally disagreed with Zahran's action. It is clear that Zahran is engaging himself with the process of building slack into his budget. Required: a. Discuss briefly how budget variances can possibly cause conflict on human behaviour in financial control. (4 marks) b. Briefly discuss Zahran's point of view related to budgeting, and its impact on the organisation. (4 marks) c. Briefly explain how can the company reduce the amount of slack into Zahran's budget? (4 marks)QUESTION 2 (20 MARKS) Strategic Management Accounting is a new form of management accounting that focus on information relating to external business situations, non-financial information or other internal information relating to various business decisions. With new challenges in business environment such as the global competition and vital needs for customer focus, managers are now looking for new approach in business that is Strategic Management Accounting. Previously, management accounting has been criticised for being inward-looking and focusing too much on internal organisational efficiency. The new Strategic Management Accounting (SMA) is concerned with providing "management accounting in the context of business strategies being planned and implemented by an organisation". The new Strategic Management Accounting is concerned with providing "management accounting in the context of business strategies being planned and implemented by an organisation". With new challenges in business environment such as the global competition and vital needs for customer focus, managers are looking for new technique that is Strategic Management Accounting, in order to gain competitive advantages in business. Required: a. Explain the definition and the three areas of Strategic Management Accounting that makes it different from conventional management accounting. (14 marks) b. The production manager is faced with a decision about how to improve the existing manufacturing operations and efficiency inside the factory. In view of that, you are required to assist the production manager by preparing a report covering a brief explanation, the costs and the benefits of one of the new techniques under the Strategic Management Accounting that is the Kaizen Costing system. (6 marks) QUESTION 3 (20 MARKS) In March 1998, Financial and Management Accounting Committee (FMAC) of the International Federation of Accountants (IFAC) has released a revised International Management Accounting Practice Statement (IMAP). The International Federation of Accountants (IFAC, 1998) in its Statement on Management Accounting Concepts, has underlies all concepts that concerns with the management accounting field of work. This statement had identified that the field of organisational activity encompassed by management accounting has developed through four management accounting evolutionary stages. Following that, on 28 March 2000, Tan Sri Dato' Sri Dr. Zeti Akhtar Aziz has highlighted in her speech at the Venture Capital Europe-Asia 2000 Conference that: "The fundamental forces for a new shape of Malaysian economy is arising from globalisation, advances in technology and greater reliance on knowledge for value creation." Required: a. Discuss the evolutionary stages of management accounting identified by IFAC in 1998, by giving at least THREE (3) examples of the relevant techniques available in each stages. (14 marks) b. Evaluate the statement made by Tan Sri Dato' Sri Dr. Zeti Akhtar Aziz on how the new shape of Malaysian economy can be created through the greater reliance on knowledge for value creation