BTEC Level 4 Unit 4: MANAGEMENT ACCOUNTING
Unit Code: H/508/0489
Unit Type: Core
Unit Level: 4
Credit Value: 15
The overall aim of this unit is to introduce the fundamentals of management accounting which apply to the wider business environment and the organizations, which operate within that environment. Students will explore how management accounting uses financial data to aid planning decisions, and the monitoring and control of finance within organizations.
On successful completion of this unit students will be in a position to present financial statements in a workplace context and be able to assist senior colleagues with financial business planning. In addition, students will have the fundamental knowledge and skills to progress onto a higher level of study.
By the end of this unit students will be able to:
- Demonstrate an understanding of management accounting systems.
- Apply a range of management accounting techniques.
- Explain the use of planning tools used in management accounting.
- Compare ways in which organizations could use management accounting to respond to financial problems.
Good day guys! As you are about to kick start the journey of this unit, I will advise that you pay rapt attention to every single detail in this unit. Because all the unit sections are interlinked. This is going to help you to enjoy the course.
In this chapter we outline the nature and purpose of management accounting, trace its historical development, describe its main functions and examine the impact it has on the behavior of those coming into contact with it.
The chapter provides you with a foundation of the subject. It then makes it easier for you to deal with the eight other chapters that cover management accounting in some depth.
Now let us look at the first concept of this unit “Introduction to Accounting”!