Explain the advantages and disadvantages of different types of planning tools used for budgetary control (P4) – Essaylink
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Table of Contents
1.0 Management Accounting Systems (P1,M1 and D1)
(You need to copy your PowerPoint presentation slides. Make sure below each slide write you speaker notes. Ensure that the speaker notes are well detailed to meet the assessment criteria)
2.0 Cost calculations and preparation of income statement (P3)
(Make accurate calculation as shown bnelow)
Unit cost: Marginal Costing Method
Unit cost: Absorption Costing Method
Analysis of the unit costs
Income Statement: Marginal Costing Method
Income Statement: Absorption Costing Method
Analysis of the profits
2.1 Application of management accounting techniques: Variances and BEP (M2)
(You are required to calculate the following variances and BEP)
i) Material Price Variance
ii) Material Usage Variance
iii) Labour Rate Variance
iv) Labour Efficiency Variance
Analysis of Variances
v) BEP in units
Analysis of the BEP
3.0 Explanation of the advantages and disadvantages of different types of planning tools used for budgetary control (P4)
What is budgetary control?
Advantages of budgets as a budgetary control tool
Disadvantages of budgets as a budgetary control tool
Advantages of variance analysis as a budgetary control tool
Disadvantages of Variance Analysis as a budgetary control tool
Advantages of Responsibility Centres (responsibility accounting) as a budgetary control tool
Disadvantages of Responsibility Centres (responsibility accounting) as a budgetary control tool
3.1 Analysis of the use of planning tools and their application for preparing and forecasting budgets (M3).
(You are required to examine how the planning tools in 3.1 above can be used to prepare and forecast budgets).
4.0 An evaluation of how organisations are adapting management accounting systems to respond to financial problems (P5)
(You are required evaluate/assess how organisations are using management accounting systems to respond to financial problems. You are required to identify some of the financial problems which organisations face and explain how they can be solved using management accounting systems)
4.1 An analyse how, in responding to financial problems, management accounting can lead organisations to sustainable success (M4)
(You are required to examine by giving examples how the solving of financial problems through management accounting can lead organisations to sustainable success).
4.2 An evaluation of how the use of management accounting planning tools can solve financial problems to lead organisations to sustainable success (D3)
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