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
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