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ACC5MCR Management Accounting
Questions:
1. Submit online via LMS Assignment submission link
2. Due date: Week 10 (Sunday 17th May 2020 by 17:00)
3. Total marks: 20
4. Complete the tasks below and submit in MSWORD only.
5. Since it is an online submission via LMS, no Statuary Declaration is needed with this assignment.
6. The first page of the assignment must contain the following:
a) Assignment title: “Individual Assignment – AMCOR Case”
b) Subject Code/Name: ACC5MCR/Management Accounting
c) Student full name/ID:
7. Write answer to the individual question (word limit 1,000 words in total).
8. In general, no references are needed. Refer to item 12 below for further details.
9. Assignment will be marked using the Rubric appended below.
10. Refer to the Academic Integrity in the subject learning guide regarding misconduct and plagiarism. The assignment will be checked through Turn-It-In for copying and cheating in any form including contract cheating.
11. Extensions, late submission and penalties – refer to the subject learning guide.
12. Data sources: You can use the textbook or any other authentic sources when completing the assignment. You must include references to the used sources, if applicable.
Amcor is a global leader in responsible global packaging solutions supplying a broad range of rigid & flexible packaging products. It is a large company, with revenues of US$9.5 billion, 27 200 employees, 66 000 shareholders and 180+ sites in 43 countries. Amcor’s history dates back to the 1860s when Samuel Ramsden arrived in Australia to seek his fortune in a new land. He established Victoria’s first paper mill on the banks of the Yarra River in Melbourne. For most of its life this operation was known as Australian Paper Manufacturers. In the 1970s and 1980s the company added a range of diverse packaging interests to its traditional papermaking activities and in 1986 changed its name to Amcor Ltd. Amcor now serves markets around the globe by pursuing profitable organic growth, strategic acquisitions and divestments and the provision of packaging solutions in Australia, Europe, Latin America, Switzerland and the United States of America.
Amcor’s is world’s largest producer of Polyethylene terephthalate (PET) bottles (such as those used by Coca and many other household and industrial products). Other packaging products produced include materials for industrial applications such as aerospace, agriculture, automotive,energy and insulation. Amcor also manufactures flexible and rigid packaging for food, household items, personal and homecare products, tobacco products, beverages, hospital sterilisation units,medical devices, and pharmaceuticals. They also provide services in packaging design, materials, testing and recycling. Amcor is currently structured into three business groups namely, Flexible Packaging, Rigid Plastics and Tobacco and Specialty Packaging.
Amcor’s main competitors are Ball Corp, Mondi PLC, Sealed Air Corp, UPM Kymmene OYJ and Weyerhaeuser Co. Amcor is committed to light weight packaging innovations which save thousands of tonnes of the earth’s resources and reduce CO2 emissions through lower raw materials usage and reduced fuel consumption for the transport of its products. Efficient use of raw materials reduces the volume of material that needs to be managed through recycling programs and reduces the quantity of packaging material sent to landfill. Amcor works strategically with partners throughout their entire value chain, and is thus able to unlock powerful social,environmental and economic opportunities throughout a product’s entire life cycle.
REQUIRED:
Examine and evaluate each of the following FOUR issues and write responses to each of them in your own words 5 marks for each issue.
Issue 1
Explain to Nick how the budgeting process at AMCOR can be used to achieve financial accountability within a responsibility framework.
Issue 2
Explain to Nick how budgets can become more meaningful to the managers when they reflect the strategic plan of the organisation.
Issue 3
Describe to Nick, with examples, how participative budgeting can give employees the feeling that ‘this is my budget’, rather than the feeling that ‘this is the budget you can impose on me’.
Issue 4
“It is a daunting task to bring together the budget for the 50 packaging and recycling sites across Australia,” said Nick to Sue in a conversation above. Write your comment(s) on this statement. Assignment marking guide/rubrics.
ACC5MCR Management Accounting
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