Simon Roberts the CEO of Sainsburys said
ACCOUNTING AND FINANCE
2020-2021: Full-Time MBA
GROUP COMPONENENT OF ASSIGNMENT (WORTH 75% OF MARK)
The Scenario
The COVID 19 pandemic has impacted almost all industries and sectors worldwide. Simon Roberts the CEO of Sainsbury’s said “this is a time unlike any other in retail. COVID-19 has put our colleagues on the front line and they are working around the clock to get food and other essential items onto the shelves for customers”1
With respect to the retail industry, Covid has had a significant impact on the supply chain. In response, Sainsbury’s, like several other retailers, improved its payment terms to suppliers in the wake of the virus to help with cashflow problems2. To that end, Sainsbury’s introduced immediate payment terms to nearly 1,500 of their small suppliers to support them as they adapted their businesses in response to the coronavirus pandemic.
Subsequent Review
However, in a later communication to suppliers, Sainsbury’s said it had reviewed the situation and for more than 1,500 small businesses, with an annual turnover of less than £100,000, they would now be moved to 14-day payment terms from the middle of July3.
1Sainsburys (2020) Annual Report 2020 Available from: https://www.about.sainsburys.co.uk/~/media/Files/S/Sainsburys/documents/reports-and-presentations/annual-reports/sainsburys-ar2020.pdf [pg2]
2http://www.fruitnet.com/fpj/article/181273/sainsburys-outlines-supplier-support
Your Brief
Part (a)
On successful completion of your MBA at Ulster University Business School, you have recently joined the management team of a new company FreshFields Foods, a small UK company producing organic vegetables, with a turnover of less than £100,000, which grows and sells Bramley apples. Knowing that you have some knowledge of accounting and finance, your boss has asked you to conduct a CORE analysis[1] of whether or not FreshFields Foods should enter into a business arrangement with Sainsbury’s plc as a supplier of the SO Organic range. Your boss has suggested that your analysis, which should be presented in REPORT FORMAT, should focus on the financial performance and position of Sainsbury’s plc over the last four years using data from the ‘Annual Report and Financial Statements 2020’ (containing data for the year ended February 2020 and 2019) and the ‘Annual Report and Financial Statements 2018’ (containing data for the year ended February 2018 and 2017).
Part (b)
Your boss has also asked you to consider how the various management accounting/financial management techniques which you have studied as part of your MBA programme are currently being used within Sainsbury’s to help them manage their business. Your boss has asked you to report on two such techniques. You should draw on any evidence from the Annual Reports and Financial Statements plus any other documents produced by Sainsbury’s to substantiate your discussion.
Word format and limit Typescript, Arial font, size 12, double line
of Report: spacing
Maximum 3,500 words (excluding appendices).
Please identify the group number on the front page of the report and state the number of words in your report, both including and excluding appendices.
See below (page 5) for further suggested guidance on possible structure of your report.
Please note the following:
- All materials used in the preparation of your analysis should be clearly referenced using the Harvard style[2] (for example, reference to academic articles, books, newspaper articles or analyst reports).
- All ratio definitions and assumptions made in your report should be stated clearly.
- Please provide the ratio definitions and workings in an Appendix.
- Marks will be awarded for:
- evidence of independent research carried out, particularly in the context of the external and internal context discussion;
- the calculation and appropriate interpretation of relevant financial ratios;
- the conclusions reached.
INDIVIDUAL COMPONENENT OF ASSIGNMENT (WORTH 25% OF MARK)
In addition to the above, each group member is required to complete and submit an individual learning log. The aim of the learning log is to require members of the group to:
- reflect on their contribution to the group component of the assignment and what they have learnt about themselves as a result;
- consider how the group assignment has facilitated their understanding of accounting and finance as a subject area;
- reflect on how their knowledge of accounting and finance might contribute to their performance in the workplace.
IMPORTANT INFORMATION ABOUT ASSIGNMENT
Deadline: TBC (Week 12)
Electronic Copy To be submitted to Blackboard Turnitin
‘Group Assignment’ Link by the deadline above
Student Feedback: Formative feedback regarding progress, problems encountered and approaches to the assignment will be provided to students on a weekly basis during the first six weeks of the module.
Summative feedback – the marked assignment will be returned to students in week 1 of the second semester. Both written and oral feedback regarding the standard of work submitted will be provided.
September 2020
Guidelines – Suggested Report Format
Accounting and Finance: Assignment
Group Component
Executive summary
This section should summarise the objective of the report, how you went about your analysis, your main findings and any key recommendations/issues that your report has identified.
Introduction
This section should summarize the remit of the project and how the analysis has been conducted.
Main body of the report
CORE Analysis
A significant part of your report will be devoted to undertaking an analysis of Sainsbury’s plc using the CORE analysis:
- Context (C)
- Overview (O)
- Ratios (R)
- Evaluation (E)
- You should use appendices to include the detailed ratios, definitions, workings etc.
Management Accounting and Financial Management Techniques
This section should provide a discussion of the management accounting and financial management techniques that are currently in use in Sainsbury’s plc to help them manage their business. You should draw on any relevant evidence from the Annual Reports and Financial Statements to substantiate your discussion.
Appendices
This section should contain the definitions for all ratios calculated and the detailed ratio calculations.
References
This section should contain a list of all references (in alphabetical order) that you have specifically referred to in your assignment. Please ensure that all references are referenced using the Harvard style[3]
Full-Time MBA – Accounting and Finance
Individual Learning Log: Individual Component
To be maintained individually by each student in the group during the semester and SUMITTED in a separate link on the Blackboard.
Student Name: _________________
Group: __________________
1. Details of time spent and nature of individual activities undertaken by YOU outside the group.
2. Individual reflections on the group assessment process:
- your contribution to the group effort
b) what you learnt from working in a group
- how well the group functioned
- Please discuss how the group assignment has:
- facilitated your understanding of accounting and finance in the context of your employment (if applicable).
- how you anticipate the knowledge you have gained from the module will help you in your future employment.
4. Please provide details of any free-riding problems which occurred in the group? If applicable, how were these problems dealt with and was a satisfactory conclusion reached?
5. Peer review of group members
Assume that each member of your group is awarded 100% for their effective contribution to the group assignment. With this in mind, please indicate what contribution EACH MEMBER of the group ACTUALLY MADE using the range 0%-100%
| Names of group members | Contribution to the group assignment (0-100%) |
| 1. | |
| 2. | |
| 3. | |
| 4. | |
| 5. |
IMPORTANT INFORMATION ABOUT Individual Log
Deadline: TBC (Week 12)
Electronic Copy To be submitted to Blackboard Turnitin
‘Individual Log’ Link by the deadline above
Student Feedback: Formative feedback regarding progress, problems encountered and approaches to the assignment will be provided to students on a weekly basis during the first six weeks of the module.
Summative feedback – the marked assignment will be returned to students in week 1 of the second semester. Both written and oral feedback regarding the standard of work submitted will be provided.
| CORE ANALYSIS Part (a) | EXTERNAL CONTEXT 10% | INTERNAL CONTEXT 10% | OVERVIEW 10% | RATIOS 15% | EVALUATION 25% | |
| Classification | % Range | Knowledge and Understanding | Knowledge and Understanding | Analysis and Interpretation | Calculations | Analysis and Interpretation |
| Distinction | 70 – 100 | Exceptional knowledge and conceptual understanding of complex and/or specialised principles and concepts and the development and advancement of ideas and practice | Exceptional knowledge and conceptual understanding of complex and/or specialised principles and concepts and the development and advancement of ideas and practice | Very high level of competence in analysing and interpreting complex or incomplete data and in communicating the outcome | Can use a large range of techniques appropriately and demonstrates innovation and creativity in complex and unpredictable situations | Very high level of competence in analysing and interpreting complex or incomplete data and in communicating the outcome |
| Commendation | 60 – 69 | Wide knowledge and depth of understanding of complex and/or specialised principles and concepts and the development of ideas and practice | Wide knowledge and depth of understanding of complex and/or specialised principles and concepts and the development of ideas and practice | Competent in analysing and interpreting complex or incomplete data and in communicating the outcome | Uses techniques effectively and demonstrates innovation and creativity in complex situations | Competent in analysing and interpreting complex or incomplete data and in communicating the outcome |
| Pass | 50 – 59 | Appropriate knowledge and depth of understanding of key principles and concepts with some understanding of their development in practice | Appropriate knowledge and depth of understanding of key principles and concepts with some understanding of their development in practice | Reasonably competent in analysing and interpreting complex or incomplete data and in communicating the outcome | Uses techniques effectively and demonstrates some innovation or creativity in complex situations | Reasonably competent in analysing and interpreting complex or incomplete data and in communicating the outcome |
| Fail (marginal) | 45 – 49 | Basic knowledge and depth of understanding of key principles and concepts only | Basic knowledge and depth of understanding of key principles and concepts only | Limited ability to analyse and/or interpret complex or incomplete data and in communicating the outcome | Some errors in techniques used, work lacks innovation or creativity, reliance on routine procedures | Limited ability to analyse and/or interpret complex or incomplete data and in communicating the outcome |
| Fail | 31 – 44 | Limited and/or superficial knowledge of key principles and concepts | Limited and/or superficial knowledge of key principles and concepts | Little or no analysis and interpretation of complex data, poor presentation of results | Many errors in techniques used, no innovation or creativity shown, reliance on routine procedures | Little or no analysis and interpretation of complex data, poor presentation of results |
| Fail | 0 – 30 | Virtually devoid of any evidence of knowledge and understanding | Virtually devoid of any evidence of knowledge and understanding | No analysis or interpretation of complex data, poor or very poor presentation of results | Inability to use techniques, routine procedures have errors | No analysis or interpretation of complex data, poor or very poor presentation of results |
MBA ASSESSMENT CRITERIA
| 5%; Parts (a & b) | |||||
| Classification | % Range | DISCUSSION OF MANAGEMENT ACCOUNTING/FINANCIAL MANAGEMENT TECHNIQUES 25% Part (b) | Evidence of Reading | Referencing and Bibliography | Presentation, Grammar and Spelling |
| Distinction | 70 – 100 | Exceptional knowledge and conceptual understanding of complex and/or specialised principles and concepts and the development and advancement of ideas and practice | Extensive evidence of integrating supplementary sources | Outstanding referencing and bibliography | Outstanding, well-directed presentation, logically and coherently structured, using correct grammar, spelling and citation. |
| Commendation | 60 – 69 | Wide knowledge and depth of understanding of complex and/or specialised principles and concepts and the development of ideas and practice | Evidence of extensive reading of supplementary sources | Comprehensive referencing and bibliography | Excellent presentation, logically structured, using correct grammar and citation |
| Pass | 50 – 59 | Appropriate knowledge and depth of understanding of key principles and concepts with some understanding of their development in practice | Evidence of reading supplementary sources | Adequate referencing and bibliography | Orderly presentation, clear structure and acceptable grammar and spelling |
| Fail (marginal) | 45 – 49 | Basic knowledge and depth of understanding of key principles and concepts only | Limited evidence of reading | Limited referencing and bibliography | Adequate presentation and structure, grammar, spelling and citation |
| Fail | 31 – 44 | Limited and/or superficial knowledge of key principles and concepts | Minimal evidence of reading | Inadequate referencing and bibliography | Poor presentation and structure, grammar, spelling and citation |
| Fail | 0 – 30 | Virtually devoid of any evidence of knowledge and understanding | Little or no evidence of reading | Inadequate referencing and bibliography | Inadequate presentation, structure, grammar, spelling and citation |
[1] Moon, P. and Bates, K. (1993) Core analysis in strategic performance appraisal, Management Accounting Research, 4, 139-152.
[2] https://guides.library.ulster.ac.uk/businessguide
[3] http://guides.library.ulster.ac.uk/ld.php?content_id=28291696