BAC 501/03
Accounting and Finance 2020
Tutor-marked Assignment 1: Accounting at Work
This Tutor-marked Assignment will help you connect the theoretical framework that you
learn in the course material with the realities of making financial decisions in the
workplace.
Please work on this assignment conscientiously as the skills you pick up will help you at the
workplace and this assignment will help you prepare for the Final Project Paper in the
future.
Note: No prior knowledge of research methodology or project writing is required in this
course.
Answer the questions given below.
Unit 1 talks about the costing process in an organization and the unit 2 talks about the budgetary
process in an organization. Your company might also be thinking of implementing Industry 4.0
at work. Some of your companies are trying to implement the Malaysian Business Reporting
System (MBRS) in the finance departments.
To read about MBRS please go to https://www.ssm.com.my/Pages/Services/OtherServices/MBRS.aspx
In this assignment choose either to discuss about the costing system OR budgetary system OR
Industry of your organisation OR MBRS implementation by answering questions 1 to 4.
Please describe how your company managed their budgets and finances due to the Covid-19
pandemic. The assignment should be between 15 to 20 pages long.
You are required to
1. Introduce your department and organisation. We DO NOT need to know the actual name of
your company.
(20 marks)
2. Gather and present some literature review on costing systems OR budgetary system OR
Industry 4.0 OR MBRS implementation.
(25 marks)
3. Describe the costing process OR budgetary process OR Industry 4.0 plans OR MBRS
implementation used in your company. Special mention would be given on how your
company handled their budgets during the Covid-19 pandemic
Note: Your organisation may use a software (Enterprise Resources Planning – ERP,
accounting software etc) or a manual system to track the costing process OR the budgetary
process. You might also have project papers pertaining to Industry 4.0 implementation. You
are encouraged to provide flowcharts or Standard Operating Systems which are relevant to
this paper.
(30 marks)
4. Critique the costing process OR budgetary process OR Industry 4.0 plans OR MBRS
implementation used in your company. Special mention would be given on how your
company handled their budgets during the Covid-19 pandemic.
(25 marks)