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Unit code: H/508/0489Unit level: 4
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IntroductionThe overall aim of this unit is to introduce the fundamentals of management accounting which apply to the wider business environment and the organisations which operate within that environment. Students will explore how management accounting uses financial data to aid planning decisions, and the monitoring and control of finance within organisations.
Learning OutcomesBy the end of this unit a student will be able to:
LO1 Demonstrate an understanding of management accounting systemsIntroduction to management accounting:
Different types of management accounting systems:
Presenting financial information:
LO2 Apply a range of management accounting techniquesMicroeconomic techniques:
Cost of inventory:
LO3 Explain the use of planning tools used in management accountingUsing budgets for planning and control:
Common costing systems:
LO4 Compare ways in which organisations could use management accounting to respond to financial problemsIdentifying financial problems:
Management accounting skill sets:
Effective strategies and systems:
Learning Outcomes and Assessment Criteria
LO1 Demonstrate an understanding of management accounting systems
P1 Explain management accounting and give the essential requirements of different types of management accounting systems.
P2 Explain different methods used for management accounting reporting.
M1 Evaluate the benefits of management accounting systems and their application within an organisational context.
D1 Critically evaluate how management accounting systems and management accounting reporting is integrated within organisational processes.
LO2 Apply a range of management accounting techniques
P3 Calculate costs using appropriate techniques of cost analysis to prepare an income statement using marginal and absorption costs.
M2 Accurately apply a range of management accounting techniques and produce appropriate financial reporting documents
D2 Produce financial reports that accurately apply and interpret data for a range of business activities.
LO3 Explain the use of planning tools used in management accounting
P4 Explain the advantages and disadvantages of different types of planning tools used for budgetary control.
M3 Analyse the use of different planning tools and their application for preparing budgets and forecasts.
LO3 and LO4
D3 Evaluate how planning tools for accounting respond appropriately to solving financial problems to lead organisations to sustainable success.
LO4 Compare ways in which organisations could use management accounting to respond to financial problems
P5 Compare how organisations are adapting management accounting systems to respond to financial problems.
M4 Analyse how, in responding to financial problems, management accounting can lead organisations to sustainable success.
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