Unit 5 management accounting | Trigonometry homework help

  

Unit 5 Management Accounting

Unit 5 Management Accounting

Aim  

The overall aim of this unit is to introduce the fundamentals of management

accounting which apply to the wider business environment and the organizations

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 organizations. On successful completion of this unit students will be in a position to present financial statements in a workplace context and be able to assist senior colleagues with financial business planning. In addition, students will have the fundamental knowledge and skills to progress onto a higher level of study.                      

Learning outcomes

On successful completion of this unit a learner will:

1 Demonstrate an understanding of management accounting systems.

2 Apply a range of management accounting techniques.

3 Explain the use of planning tools used in management accounting.

4 Compare ways in which organizations could use management accounting to

respond to financial problems.   

Unit 5 Management Accounting

Unit content 

LO1 Demonstrate an understanding of management accounting systems

Introduction to management accounting: What is management accounting? Definition of management accounting. What is a management accounting system? Why is it important to integrate these within an organization? Explore the origin, role and principles of management accounting. The distinction between management and financial accounting.

Different types of management accounting systems:

Cost-accounting systems, inventory management systems, job-costing systems and price-optimising systems. Benefits of different types of systems.

Presenting financial information:

Why information should be relevant to the user, reliable, up to date and

accurate. Why the way in which the information is presented must be understandable.

Different types of managerial accounting reports.

Unit 5 Management Accounting

LO2 Apply a range of management accounting techniques

Microeconomic techniques:

What is meant by cost? Different costs and cost analysis. Cost-volume profit, flexible budgeting and cost variances. Applying absorption and marginal costing.

Product costings:

Fixed and variable costs, cost allocation. Normal and standard costing, activity-based costing and the role of costing in setting price.

Cost of inventory:

Definition and meaning of inventory costs and different types of inventory costs.

The benefits of reducing inventory costs to an organization. Valuation methods.

Cost variances. Overhead costs.

HND Assignment Help

[email protected]

www.hndassignmenthelp.co.uk

+447464884564

Unit 5 Management Accounting

LO3 Explain the use of planning tools used in management accounting

Using budgets for planning and control:

Preparing a budget. Different types of budgets (e.g. capital and operating). Alternative methods of budgeting. Behavioural implications of budgets.

Pricing:

Pricing strategies. How do competitors determine their prices? Supply and demand considerations. Common costing systems: Actual costing, normal costing and standard costing systems. How cost systems differ depending on the costing activity: job costing,

process costing, batch costing and contract costing.

Strategic planning:

Applying PEST, SWOT, balance scorecard or Porter’s Five Forces analysis to the financial position of an organization.

Unit 5 Management Accounting

LO4 Compare ways in which organizations could use management

Accounting to respond to financial problems

Identifying financial problems:

Using benchmarks, key performance indicators (financial and non-financial)

and budgetary targets to identify variances and problems.

Financial governance:

Definitions of financial governance, and how this can be used to pre-empt or

prevent financial problems. Using financial governance to monitor strategy.

Management accounting skill sets:

What are the characteristics of an effective management accountant?

How can these skills be used to prevent and/or deal with problems?

Effective strategies and systems:

The development of strategies and systems which require effective and timely

reporting, full disclosure of financial positions and are responsibly owned and governed.

HND Assignment Help

[email protected]

www.hndassignmenthelp.co.uk

+447464884564

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Papers Owl, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Papers Owl has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Papers Owl, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.

error: Content is protected !!