Effective Planning Tools for Managing Accounts- A2
LO.3 Explain the use of planning tools used in management accounting.
LO.4 Compare ways in which organisations could use management accounting to respond to financial problems
As a newly-qualified Management Accountant, you have been asked by your line manager to produce a report which analyses the organisation’s use of planning tools to ensure financial stability and performance as well as ways in which management accounting has played a key role in preventing and solving financial problems.
This assignment is in the form of a two-part individual management report:
Part A. Compare and contrast three planning tools used in management accounting, indicating how effective you judge each to be and why. Your judgements should be supported by evidence.
Part B: Using specific case studies as examples, compare ways in which management accounting is applied, the effectiveness of management accounting in dealing with financial problems and preventing financial problems in organisations. Global. Link to www.highernationals.com
P4 Explain the advantages and disadvantages of different types of planning tools used for budgetary control.
P5 Evaluate how organisations are adapting management accounting systems to respond to financial problems. M4 Analyse how, in responding to financial problems, management accounting can lead organisations to sustainable success. M3 Analyse the use of different planning tools and their application for preparing and forecasting budgets. D3 Evaluate how planning tools for accounting respond appropriately to solving financial problems to lead organisations to sustainable success.
The submission is in the form of a 10-minute individual PowerPoint presentation and 5 minutes allocated for questions. The presentation slides and speaker notes should be submitted as one copy. You are required to make effective use of PowerPoint headings, bullet points and subsections as appropriate. Your research should be referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. The recommended word limit is 1,000–2,000 words, including speaker notes, although you will not be penalised for exceeding the total word limit.