This is a CSR project, and choose to nestle as our company Note: Please give answer on mentioned words (must add intext citation) and required
Calculate costs using appropriate techniques
Management Accounting: Costing and Budgeting
The aim of this unit is to provide learners with the understanding and ability to use cost information for budgeting and forecasting purposes in the management of business.
Learning outcomes and assessment
LO1 Be able to analyse cost information within a business
1.1 classify different types of cost
1.2 use different costing methods
1.3 calculate costs using appropriate techniques
1.4 analyse cost data using appropriate techniques
LO2 Be able to propose methods to reduce costs and enhance value within a business
2.1 prepare and analyse routine cost reports
2.2 use performance indicators to identify potential improvements
2.3 suggest improvements to reduce costs, enhance value and quality
LO3 Be able to prepare forecasts and budgets for a business
3.1 explain the purpose and nature of the budgeting process
3.2 select appropriate budgeting methods for the organisation and its needs
3.3 prepare budgets according to the chosen budgeting method
3.4 prepare a cash budget
LO4 Be able to monitor performance against budgets within a business
4.1 calculate variances, identify possible causes and recommend corrective action
4.2 prepare an operating statement reconciling budgeted and actual results
4.3 report findings to management in accordance with identified responsibility centres.
Plagiarism free Answer files are strictly restricted for download to the student who originally posted this question.
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