Assignment Brief - BTEC (RQF)

Higher National Diploma in Business

Unit Number and Title Unit 5: Management Accounting H/508/0489

University Centre Colchester, UCC, England, UK

Assignment Title - Management accounting, planning tools, accounting systems and how they respond to financial problems.

Unit Learning Outcomes:

1. Explain the use of planning tools used in management accounting.

2. Compare ways in which organisations could use management accounting to respond to financial problems.

Assignment Brief and Guidance:

Scenario: You have recent started a role as a management accountant for Toshiba, your line manager has asked you to produce a report which examines the way in which the organisation effectively uses planning tools to ensure financial stability and performance and how these tools have prevented and solved financial issues.

Question 1: Define the purpose of budgetary control and outline the different forms of budgetary control a management accounting system may utilise.

You must discuss the advantages and disadvantages of each different types of budgetary control system. Please include the following in your discussion: Cash flow budgeting, Capital budgeting, Zero Based Budget, Rolling Budget and Operational Budget.

Question 2: Analyse the way in which management accountants use different planning tools such as cost accounting, budget control, pricing strategies and financial statement analysis to prepare budgets and gain competitive advantage.

Question 3: Explain how management accountants will use KPI's in a company's internal processes. Evaluate the advantages and disadvantages that the use of KPI's can bring to the business.

Question 4: With reference to the Patisserie Valerie scandal explain and analyse the role the management accounting profession should have played in identifying and preventing the financial irregularities that were seen.

Assignment with a word guide of 1500 words in report format. Be certain to reference to Harvard standard and to present work so it is clear which learning outcomes you are addressing in your answer.