M1 evaluate the benefits of management accounting

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M1:Evaluate the benefits ofmanagement accountingsystems and their applicationwithin an organisational context.P2: Explain different methods usedfor management accountingreporting.L.O. 2:Apply a range of management accounting techniques.D2: Produce financial reportsthat accurately apply andinterpret data for a range ofbusiness activities.P3:Calculate costs using appropriatetechniques of cost analysis to preparean income statement using marginaland absorption costs.M2:Accurately apply a range ofmanagement accountingtechniques and produceappropriate financial reportingdocuments.
Unit 5| Management AccountingPage9of15Task 2 covers Learning Outcome 3 & 4Your formal report in the task 1 above was much appreciated by the directors and you have beenrecruited on permanent footingin General sportswear as “Junior Management Accountant”. MrDavid Hamilton, who is a director in General Sportswear and looks after accounting and financematters of the organisation, asked you that he is interested in understanding that how differentplanning tools will help the organisations in achieving its goals and objectives. Further, howmanagement accounting systems help to respond to different financial problems within GeneralSportswear.You need to prepare apower point presentation of at least 12 slidescovering the following tasks.These tasks should be linked to the given scenario of General Sportswear. This is an individualsubmission and the learner need to present it in the form of a 10-minute individual PowerPointpresentation and 5 minutes allocated for questions, panel of assessors and students can askquestions.The speaker notes will also be part of the task and it will submitted with presentation. The tasksshould be logically divided into different power point slides with appropriate main and sub-headings. You also need to submit a bibliography using the Harvard referencing system. Therecommended word limit is 1,5002,000 words, including speaker notes, although you will not bepenalised for exceeding the total word limit.A.What are the three most important planning tools for budgetary control you will recommend tobe used in General sportswear with their advantages and disadvantages.(P4)(For Merit)Analyse the use of your recommended planning tools in task“A”above and their application forpreparing and forecasting budgets.(M3)B.You need to compare any other organisation with General sportswear and explain howorganisations are adapting management accounting systems to respond to financial problems.(P5)(For Merit)As a next step, you need to analyse how General sportswear after adapting managementaccounting system improving its profitability and could gain a sustainable success over theperiod of time. You can use the financial data given in task 1 above(M4)2TASK
Unit 5| Management AccountingPage10of15(For Distinction)You have to evaluate how planning tools for accounting as discussed in above task respond

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