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Unit 5:
Unit code H/508/0489
Unit type Core
Unit level 4
Credit value 15
Introduction
The 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 Outcomes
By the end of this unit a student will be able to:
Essential Content
LO1 Demonstrate an understanding of management accounting systems
Introduction to management accounting:
Different types of management accounting systems:
Presenting financial information:
LO2 Apply a range of management accounting techniques
Microeconomic techniques:
Product costings:
Cost of inventory:
LO3 Explain the use of planning tools used in management accounting
Using budgets for planning and control:
Pricing:
Common costing systems:
Strategic planning:
LO4 Compare ways in which organisations could use management accounting to respond to financial problems
Identifying financial problems:
Financial governance:
Management accounting skill sets:
Effective strategies and systems:
Learning Outcomes and Assessment Criteria
Pass
Merit
Distinction
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
M2 Accurately apply a
D2 Produce financial
appropriate techniques of
range of management
reports that accurately
cost analysis to prepare
accounting techniques
apply and interpret data
an income statement
and produce appropriate
for a range of business
using marginal and
financial reporting
activities.
absorption costs.
documents.
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.
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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