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Unit 6: Management Accounting: Costing and Budgeting

Description of unit

In this unit learners will consider cost information both current and future. Cost data will be collected, compiled and analysed, and will be processed into information of use to management. The unit goes on to deal with budgetary planning and control, preparing forecasts and budgets and then comparing them to actual results. Learners will consider different costing and budgetary systems and will discuss the causes of resulting variances.

Summary of learning outcomes

To achieve this unit a learner must:

1   Collect and analyse cost information within a business

2   Propose methods to reduce costs and enhance value within a business

3   Prepare forecasts and budgets for a business

4   Monitor performance against budgets within a business.