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Home Solutions P1: Explain management accounting and give the essential requirements of different types of management accounting systems for the chosen scenario.
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Learning Outcomes
Pass
Merit
Distinction
LO 1: Demonstrate an understanding of
P1: Explain
M1 Evaluate the
D1 Critically evaluate
management accounting systems
management
benefits of
how management
accounting and give
accounting systems and
the essential
accounting
requirements of
systems and their
accounting reporting is
different types of
application
integrated within
within an
organisational processes
accounting systems for
organisational
for the chosen scenario.
the chosen scenario.
context for the
P2: Explain different
chosen scenario.
methods used for
accounting reporting
LO2 Apply a range of management accounting
P3: Calculate costs
M2: Accurately
D2 Produce financial
techniques
using appropriate
apply a range of
reports that accurately
techniques of cost
analysis to prepare an
apply and interpret data
income statement
techniques and
for a range of business
using marginal and
produce
absorption costs as
appropriate
activities with reference
specified above.
financial
to the chosen scenario.
reporting
documents with
reference to the
P4: Explain the
M3: Analyse the
D3(LO3&4): Evaluate
LO3 Explain the use of planning tools used in
advantages and
use of different
how planning tools for
management accounting
planning tools
disadvantages of
and their
accounting respond
application for
appropriately to solving
preparing and
planning tools used for
forecasting
financial problems to
budgetary control for
budgets with
lead organisations to
special reference
to the chosen
sustainable success with
scenario.
special reference to your
LO4 Compare ways in which organisations could use
P5: Compare how
M4: Analyse
management accounting to respond to financial
organisations are
how, in
problems.
responding to
adapting management
accounting systems to
problems,
respond to financial
accounting can
lead
organisations to
sustainable
success with
to your chosen
scenario
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