HELP For Icas Project

Nawsh

Hello First of all I would like to say that I have recently joined this forum.

I received positive feedback from my marker that my project is good but there is some ammendments need to be done especially section 6 and my cost benefit analysis.:( Please can you explain me how to do this cost benefit analysis or a sample of that :confused1: Please help me ...

Malcolm Green

Hi Nawsh,

For your CBA you will need to look at what recommendations you are making and identify where possible all the costs involved to implement the recommendation.

This will allow you to show the £ cost to the business and the value of these benefits to the business.

Costs £

For example the cost of purchasing the accountancy system the type of package that would be required ie number of users and the cost of any additional training that will be required and how this will be provided in-house or from an outside training provider and also the cost to the business for time lost during training.

Your background research should help you with most of the data you will need for this, however if you are having problems guesstimates and assumptions are acceptable if hard evidence is not available to support this but these must be seen as realistic costs.

Benefits £

You will need to look at all the benefits to the business from these actions, which could be quicker completion of work fewer mistakes and access to better management information.

Again with some of these points you will be able to allocate a specific £ cost or you will need to make some realistic assumptions of what this will mean such as XX transaction would now be completed in an hour helping to save overtime payments of £X or an improvement of X% in processing efficiency across a department worth £X based on a team of X staff pa also fewer mistakes should now be made saving the business £X in time lost in duplication of work correcting mistakes or compensation payments made etc.

You will also come across some benefits where you cannot easily put a financial value on them but you should still include all of these to help make the overall case.

You may also like to do a quick search on Google for CBA as well

I trust you will find this information of assistance and good luck with the completion of your ICAS project.

Nawsh

Thanks a lot malcolm i will take the above points into consideration :001_smile:

Nawsh

Can you all please tell me how to write the methodology as i have done my project based on inkwell ltd but mostly by myself and on net ? Yea I have counted my words it has execeed to 5000 words :huh:

Malcolm Green

Hi Nawsh,

When you start to edit down you project to 4,000/4.400 words remember that appendices do not count in this total.

Any sections you may need to take out could if relevant make good appendices as for example in your recommendations you can make your point and demonstrate your reasons for this and then refer the reader to an appendix for more detailed information and methods of calculations etc which you may have used ie for your cost benefit analysis.

Also try leaving your report for a few days and then read over it again very carefully and look out for repetition of statements and points of information as these will often ramp up your total word count, and if you think you need to refer to this information again think about putting it in as an appendix.

I have also attached for you an example of a report guide which should help you with your Methodology layout.

Attachment not found.

I trust this will help.