AB Unit 5 MA Semester_Jan2021 (1).docx - LO2 Apply a range...

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LO2 Apply a range of management accounting techniques.Microeconomic techniques:
Essential Unit ContentsLO3 Explain the use of planning tools used in management accountingUsing budgets for planning and control:
How do competitors determine their prices?
Unit 5: Management Accounting Page1of 10
LO4 Compare ways in which organisations could use managementaccounting 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 orprevent 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 andtimely reporting, full disclosure of financial positions and are responsiblyowned and governed.Grading CriteriaTask 2:To pass this unit, the assignment that you present for assessment needs todemonstrate that you can meet all the learning outcomes listed below.(LO)Learning OutcomesLO2Apply a range of management accounting techniques.LO3Explain the use of planning tools used in management accounting.LO4Compare ways in which organisations could use managementaccounting to respond to financial problems.Scenario covers LO2, LO3 and LO4:Unit 5: Management Accounting Page2of 10
As a Junior Management Accountant of Prime Furniture, you line manager has givenyou a second task to prepare a report in an effort to promote understandingbetween different departments in the organisation and to show them theimportance and application of management accounting. This report should cover a

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Prime Furniture

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