BTEC Level 4 Higher National Certificate in BusinessUnit 5: Management AccountingCentre Code: 01018Final Submission Date: 13/12/2020BTEC Higher National Certificate inBusinessCentre Code: 01018Aims & Objectives of the AssignmentThe overall aim of this unit is to introduce the fundamentals of managementaccounting which apply to the wider business environment and the organisationswhich operate within that environment. Students will explore how managementaccounting uses financial data to aid planning decisions, and the monitoring andcontrol of finance within organisations.On successful completion of this unit students will be in a position to presentfinancial statements in a workplace context and be able to assist senior colleagueswith financial business planning. In addition, students will have the fundamentalknowledge and skills to progress onto a higher level of study.Learning OutcomesBy the end of this unit a student will be able to:1.Demonstrate an understanding of management accounting systems.2.Apply a range of management accounting techniques.Unit 5: Management Accounting Page2of 17
BTEC Level 4 Higher National Certificate in BusinessUnit 5: Management AccountingCentre Code: 010183.Explain the use of planning tools used in management accounting.4. Compare ways in which organisations could use managementaccounting to respond to financial problems.Essential Unit ContentsLO1 Demonstrate an understanding of management accounting systemsIntroduction 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 organisation?●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-costingsystems and price-optimising systems.Unit 5: Management Accounting Page3of 17
BTEC Level 4 Higher National Certificate in BusinessUnit 5: Management AccountingCentre Code: 01018●Benefits of different types of systems.Presenting financial information:●Why information should be relevant to the user, reliable, up to date andaccurate.●Why the way in which the information is presented must be understandable.