Financial planning, control and performance management
Unit summary
Aims
To develop knowledge and understanding of the application of management accounting techniques to support the management processes of planning, decision-making, control and performance measurement.
Objectives
On completion of this paper, candidates should be able to:
identify valid, relevant data from internal and external sources
present cost information using appropriate methods
prepare forecasts of income and expenditure
monitor and analyse actual costs against forecasts and trends
compare actual costs with standard costs and analyse and explain any variances
prepare draft budget proposals
prepare and present reports comparing actual performance with planned performance for the organisation or for responsibility centres and analyse any variances for management control purposes
prepare and monitor relevant performance indicators, interpret the results and recommend how to reduce costs and enhance value
make short-term decisions to enhance business performance.
Unit details
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15 Business, Administration and Law
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15.1
Accounting and Finance