Unit 33 Management Accounting
Course Summary
This unit is about the application of management accounting techniques to help managers in the processes of planning, control and performance measurement. There are three elements contained within the unit:
- Prepare forecasts and budgets
- Collect, analyse and disseminate information about costs
- Monitor performance and make recommendations to enhance value
The first element requires candidates to develop forecasts of demand, turnover, resources to be consumed and their cost.
The second element focuses on the identification and analysis of costs that may be of help to managers. Candidates have to monitor and analyse costs against trends, standards and organisational needs, and explain any difference between actual and planned or expected costs.
The final element requires identification and calculation of performance indicators together with proposals which will enhance the value of the organisation.
