Assignment Task:
You are required to conduct a literature search and critically review a costing system in this assignment.
Part A
Choose ONE of the costing systems studied in this unit from the list below, and answer the questions that follow:
- Job Costing
- Process Costing
- Operation Costing (Hybrid Costing)
- Activity-based Costing (ABC)
Questions:
- Briefly discuss the features of your chosen costing system. (3 marks)
- Identify 2 specific Australian companies that your chosen costing system is suitable for, and explain why. (3 marks)
- Discuss two potential uses of the cost information for decision-making, to the managers in each of the 2 organisations selected in Q2 above. (3 marks)
Part B
Choose one peer reviewed journal article (from any country) on the: Use of your chosen costing system in a real-life organisation (i.e. a case-based empirical study). The article should be published between 2005 – 2020. Choose your article only after you have accessed and reviewed several relevant articles, and then choose the best article that will answer the questions below.
Questions:
- Based on your chosen costing article, briefly summarise how the costing system was designed and implemented in your real-life organisation. (3 marks)
- Based on your chosen costing article, did the costing system in the study satisfy the features discussed in Part A (Q1)? Why or why not? Include examples in your answer from your costing article. (5 marks)
- Based on your chosen costing article, how useful was the cost information to the internal users in the organisation? Discuss with examples from your costing article. (5 marks)
- Based on your literature findings, state two key lessons that would inform contemporary organisations about the practical use of your chosen costing system. (5 marks)
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