Accounting Question

write an assignment about management accounting and it required to prepare a report on Marginal and Absorption Costing comparison.I will attach the assignment file for further information. word count:1200

Module Code
Module Title
Module Credits
GAC4009
Management Accounting
20
Academic Year and
Semester
Examination Board
Level & Block
2024-25, 1st Semester
January 2025
L4 B2
Method of Assessment
Term (Mid-term /End-term)
Weighting
WRIT1-Coursework
Mid-Term
30%
Module Leader
Module Leader email
Mohammed Saleem
mohammadfbms@gulfcollege.edu.om
Additional Information (if any)
(The last date to submit the assignment on Turnitin is on the 14th of November 2024 at 9 PM).
Version 1
Page 1 of 11
Assessment Details
Assessment title
Abr.
Weighting
Coursework
WRIT1
30%
Pass marks for undergraduate work is 40%, unless stated otherwise.
Task/assessment brief:
While both marginal costing and absorption costing are methods for assigning costs to inventory, they differ in
their treatment of fixed costs. Marginal costing considers only variable costs as part of the product cost, while
absorption costing allocates both variable and fixed overhead costs to the inventory valuation.
You are required to prepare a report on Marginal and Absorption Costing comparison.
The report should include the following contents:

Introduction- Meaning of Marginal Costing and Absorption Costing.
(10 marks )

Marginal Costing and Absorption Costing Comparison.
(10 marks)

Marginal Costing Versus Absorption Costing – Key differences.
(10 marks )

Advantages and disadvantages of Marginal Costing and Absorption Costing.
(10 marks)

Arguments in favour of Marginal Costing.
(10 marks)

Arguments in favour of Absorption Costing.
(10 marks)

Provide a numerical example and solve the same using both Marginal Costing and
Absorption costing methods. Also, provide the reasons for the difference in profit using
both methods.
(30 marks)

Conclusion- A summary of the report, including the limitations of both methods. (10 marks)
(Total 100 marks)
Additional instructions:
Structure of the assignment is as follows:
Introduction – Explain the meaning of Marginal Costing and Absorption Costing.
(Approximately 100 words)
Main Body:
Comparison between Marginal Costing and Absorption costing
 Key differences between Marginal Costing and Absorption Costing (Approximately 200 words)

Arguments in favour of Marginal Costing
(Approximately 150 words)

Arguments in favour of Absorption Costing
(Approximately 150 words)

Using your own data, create a numerical example and find the Profit/Loss under both Marginal and
Absorption costing.
(Approximately 400 words)

Provide the reasons for the difference in profit under both the methods for the above
example.
(Approximately 100 words)
Conclusion – Summary of the topics discussed in the assignment, including the limitations of both methods.
(Approximately 100 words)
Version 1
Page 2 of 11
Academic Reference – Reference –it includes a comprehensive list of references from all sources, including books,
e-books, online sources, newspapers, journals, and publications using the proper Harvard referencing system
(Minimum 5 references
*************
Word count (or equivalent):
1200
This is a reflection of the effort required for the assessment. Word counts will normally include any text,
tables, calculations, figures, subtitles and citations. Reference lists and contents of appendices are
excluded from the word count. Contents of appendices are not usually considered when determining
your final assessment grade.
Academic or technical terms explained:
NA
Submission Details
Submission
Deadline:
Mid – 14th of November
2024
Submission
Time:
9:00 PM
Turnitin:
Any assessments submitted after the deadline will not be marked and will be
recorded as a non-attempt unless you have had an extension request agreed or have
approved mitigating circumstances. See the Gulf College website for more
information on submission details and mitigating circumstances.
File Format:
The assessment must be submitted as a word document and submit through the
Turnitin submission point.
Estimated
Feedback
Return Date
After the result
announcement (2nd Feb.
2025 to 13th Feb. 2025)
Your assessment should be titled with your:
Student ID number, Module code and Assessment ID,
e.g. 1610200 GAC3000 WRIT1
Feedback
Version 1
Feedback for the assessment will be provided electronically via Turnitin / MS Teams
/ Face to Face. Feedback will be provided with comments on your strengths and the
Page 3 of 11
areas which you can improve. Module tutors give students two types of assessment
feedback: formative, which is given when the student is working on the completion
of an assignment or coursework, and summative, which is given upon completion of
the module. A comprehensive assessment feedback on your performance will be
given after the announcement of the results. (10 Working Days)
Assessment Criteria
Learning outcomes assessed
On successful completion of the module, a student should be able to:
· Use a range of techniques to account for the costing and its technique.
· To prepare product &job costs using absorption and process costing techniques.
· Use marginal costing & breakeven analysis to evaluate and solve of a range of realistic problems.
· Prepare& interpret a range of budgets and variances as part of budgetary control.
· Use a range of techniques to account for the costs of direct materials &, labour.
In addition, the assessment will test the following learning outcome:
Use a range of techniques to account for the cost accounting its features and techniques.
Version 1
Page 4 of 11
Marking/Assessment Criteria
Marks
Allocated
Description
Introduction –
Meaning of Marginal Costing
5 marks
Meaning of Absorption Costing 5 marks
10 marks
Key differences between Marginal Costing and Absorption Costing.
(At least 5 points each)
10 marks
Advantages and disadvantages Marginal Costing and Absorption Costing
(At least 5 points each)
10 marks
Arguments in favour of Marginal Costing (4 points)
10 marks
Arguments in favour of Absorption Costing (4 points)
10 marks
Numerical example and the solution using both Marginal Costing and
Absorption Costing methods.
(Numerical question 10 marks, Solution for each method 10 marks)
The reasons for the difference in profit using both the methods.
30 marks
10 marks
Conclusion – Summary of the topics discussed in the assignment including
the limitations of both the methods and structure
(Limitation of Marginal costing 2 marks, Limitation of Absorption costing 2
10 marks
marks, Over all conclusion of report 4marks and structure 2 marks )
Total
Version 1
100 marks
Page 5 of 11
Further Information
Who can answer questions about my assessment?
Questions about the assessment should be directed to the staff member who has set the task/assessment
brief. This will usually be the Module tutor. They will be happy to answer any queries you have.
Referencing and independent learning (Not applicable for Examination)
Please ensure you reference a range of credible sources, with due attention to the academic literature in the
area. The time spent on research and reading from good quality sources will be reflected in the quality of
your submitted work.
Remember that what you get out of university depends on what you put in. Your teaching sessions typically
represent between 10% and 30% of the time you are expected to study for your degree. A 20-credit module
represents 200 hours of study time. The rest of your time should be taken up by self-directed study.
Unless stated otherwise you must use the HARVARD referencing system. Further guidance on referencing
can be found in the on Moodle. Correct referencing is an easy way to improve your marks and essential in
achieving higher grades on most assessments.
Technical submission problems (Not applicable for Examination)
It is strongly advised that you submit your work at least 24 hours before the deadline to allow time to resolve
any last minute problems you might have. If you are having issues with IT or Turnitin you should contact the
IT Helpdesk on (+968) 92841521/ 92841217. You may require evidence of the Helpdesk call if you are trying
to demonstrate that a fault with Turnitin was the cause of a late submission.
Mitigating circumstances
Short extensions on assessment deadlines can be requested in specific circumstances. If you are
encountering particular hardship which has been affecting your studies, then you may be able to apply for
mitigating circumstances. This can give the teachers on your programme more scope to adapt the
assessment requirements to support your needs. Mitigating circumstances policies and procedures are
regularly updated. You should refer to your Academic Advisor for information on extensions and mitigating
circumstances.
Unfair academic practice
Cardiff Met takes issues of unfair practice extremely seriously. The University has procedures and penalties
for dealing with unfair academic practice. These are explained in full in the University’s Unfair Practice
regulations and procedures under Volume 1, Section 8 of the Academic Handbook. The Module Leader
reserves the right to interview students regarding any aspect of their work submitted for assessment.
Types of Unfair Practice, include:
Plagiarism, which can be defined as using without acknowledgement another person’s words or ideas and
submitting them for assessment as though it were one’s own work, for instance by copying, translating from
one language to another or unacknowledged paraphrasing. Further examples include:
Version 1
Page 6 of 11
 Use of any quotation(s) from the published or unpublished work of other persons, whether published in
textbooks, articles, the Web, or in any other format, where quotations have not been clearly identified as
such by being placed in quotation marks and acknowledged.
 Use of another person’s words or ideas that have been slightly changed or paraphrased to make it look
different from the original.
 Summarising another person’s ideas, judgments, diagrams, figures, or computer programmes without
reference to that person in the text and the source in a bibliography/reference list.
 Use of assessment writing services, essay banks and/or any other similar agencies (NB. Students are
commonly being blackmailed after using essay mills).
 Use of unacknowledged material downloaded from the Internet.
 Re-use of one’s own material except as authorised by your degree programme.
Collusion, which can be defined as when work that that has been undertaken with others is submitted and
passed off as solely the work of one person. Modules will clearly identify where joint preparation and joint
submission are permitted, in all other cases they are not.
Fabrication of data, making false claims to have carried out experiments, observations, interviews or other
forms of data collection and analysis, or acting dishonestly in any other way.
How is my work graded?
Gulf College uses Cardiff Metropolitan University’s Generic Band Descriptors (GBD), in conjunction with
programme-specific and/or assessment-specific descriptors that are developed in accordance with the
principles underpinning the generic descriptors, as a reference in marking student work outputs. This is to
ensure that marking is consistent across all Cardiff Met students’ work, including the work outputs of students
in Gulf College.
Assessment marking undergoes a meticulous process to make sure that it is fair and truly reflects the
performance of students in their modules. Marking of work at each level of Cardiff Met degree programmes
are benchmarked against a set of general requirements set out in Cardiff Met’s Guidance on Assessment
Marking. https://www.cardiffmet.ac.uk/registry/academichandbook/Documents/AH1_04_03.pdf
To find out more about assessments and key academic skills that can have a significant impact on your
marks, download and read your Module Handbook from Moodle and your Programme Handbook from the
college website.
Artificial Intelligence Models – Guidance for this assessment:
Artificial Intelligence (AI) models can be a powerful tool to support your learning. The University has
provided some resources to support you in its appropriate usage:
 Library Services AI Hub
 Student Guide to AI and Assessment
 Code of Conduct for Students on the use of AI
 Cite Them Right resource on citing materials relating to AI (if permitted)
As per the academic regulations (Academic Handbook Ah1_08), in all cases you must submit work
that is your own, acknowledging any part of it that has been informed by another source – including
that which is AI generated. Upon submission of work, you will be asked to confirm the following
statement:
Version 1
Page 7 of 11
I confirm that this assignment is my own work, except where I have acknowledged the use of
works from other sources, including the use of any artificial intelligence (AI) tools, in
accordance with what is allowable as described in the assessment brief.
Please note the following:
 AI should not be used as a substitute for your own knowledge, and you should never include
any material that you do not understand and could not explain if asked.
 Not being able to explain your work when asked is likely to be a key factor when considering
cases of academic misconduct related to AI.
The following information provides specific guidance for this assessment about what level of AI use is
appropriate for this assessment. Remember that in all cases you must submit work that is your own,
acknowledging any part of it that has been provided by another source.
NO USE OF GENERATIVE AI EXPECTED


Your assignment should be produced using information sourced by you
from your learning materials and academic sources and cited
appropriately.
AI tools for checking spelling, grammar and referencing may be used.
AI ACKNOWLEDGED
 You can use AI tools to learn about your topic, as part of your study, or
in preparing initial guidance on assignments (e.g. headline structure,
suggestions for inclusion of topics).
 Any materials that you have sourced from AI should be rewritten or
reconfigured and integrated into your own work and referenced
appropriately. It is recommended that this is confirmed by a relevant
academic source.
 Any support gained from AI should be acknowledged in a statement at
the end of the assignment, making clear what the support was, and how
you used it and developed it for your own work. Example statements are
available in the Student Code of Conduct.
AI EMBEDDED
 Use of AI is an integral and expected part of the assessment.
 The explicit inclusion of AI within the assessment means that
instructions on the expected use will be part of the assessment brief.
 Your assessment brief will describe how you should acknowledge the
way in which you used AI tools.
Version 1
Page 8 of 11
☑
Acknowledgement of the Use of AI
Student Name:
Student ID Number:
Module Code:
Assignment Title
Date:
Acknowledgement (Delete & Update as Appropriate)

No content generated by AI technologies has been presented as my own
work.

I acknowledge the use of [name of AI + URL] to generate materials for
background research and self-study in the drafting of this assessment.

I acknowledge the use of [name of AI + URL] to generate materials that
were included within my final assessment in modified form.
The following prompts were input into [name of AI + URL]:
List prompts here
The output was changed by me in the following ways:
Explain the actions taken here
Version 1
Page 9 of 11