1.1 explain the importance of costs in the pricing strategy of an organisation

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Learning outcomes

Assessment criteria

1 Be able to apply cost concepts to the

decision-making process

1.1 explain the importance of costs in

the pricing strategy of an

organisation

1.2 design a costing system for use

within an organisation

1.3 propose improvements to the

costing and pricing systems used

by an organisation

2 Be able to apply forecasting

techniques to obtain information for

decision making

2.1 apply forecasting techniques to

make cost and revenue decisions

in an organisation

2.2 assess the sources of funds

available to an organisation for a

specific project

3 Be able to participate in the

budgetary process of an organisation

3.1 select appropriate budgetary

targets for an organisation

3.2 participate in the creation of a

master budget for an organisation

3.3 compare actual expenditure and

income to the master budget of an

organisation

3.4 evaluate budgetary monitoring

processes in an organisation

4 Be able to recommend cost reduction

and management processes for an

organisation

4.1 recommend processes that could

manage cost reduction in an

organisation

4.2 evaluate the potential for the use

of activity-based costing

5 Be able to use financial appraisal

techniques to make strategic

investment decisions for an

organisation

5.1 apply financial appraisal methods

to analyse competing investment

projects in the public and private

sector

5.2 make a justified strategic

investment decision for an

organisation using relevant

financial information

5.3 report on the appropriateness of a

strategic investment decision

using information from a postaudit

appraisal

6 Be able to interpret financial

statements for planning and decision

making

6.1 analyse financial statements to

assess the financial viability of an

organisation

6.2 apply financial ratios to improve

the quality of financial information

in an organisation’s financial

statements

6.3 make recommendations on the

strategic portfolio of an

organisation based on its financial

information

1.1 explain the importance of costs in the pricing