• Discuss whether or not Cost-Volume Profit analysis and standard costing/variance analysis are ultimately still relevant for decision making in the modern business.
The word count must not exceed 3,000 words, excluding appendices. This represents one of the two equally weighted pieces of coursework worth a total of 50% of the module mark.
Assignment topic
Select ANY TWO of the following industries:
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• Fast Food
Required:
• Assess the appropriateness of BOTH Cost-Volume Profit analysis AND standard costing/variance analysis for the industries that you have selected.
You should also identify and explain the main benefits and limitations of each of these management accounting techniques in the context of the industries you have selected.
(15 marks)
Note: You should apply EACH technique to EACH industry. For example, if you select ‘Healthcare’ and ‘Fast Food’, then you should assess CVP analysis in the Healthcare AND Fast Food industries AND standard costing/variance analysis in the Healthcare AND Fast Food industries.
• Discuss whether or not Cost-Volume Profit analysis and standard costing/variance analysis are ultimately still relevant for decision making in the modern business.
(10 marks)
(Total 25 marks)
Your submission must include references from academic articles. You may also use real-life examples to help supports your answers.
