Unit 13: Cost and Management Accounting
Learning Aim A: Explore Absorption and Marginal Costing Techniques for Decision Making
BTEC Business Studies Unit 13: Cost and Management Accounting
P1 Categorise and explain different types of costs and costing methods in given scenarios.
P2 Produce accurate absorption and marginal cost statements for given scenarios.
M1 Assess the appropriateness of absorption and marginal costing techniques used for decision making in given scenarios.
D1 Make justified recommendations to improve the financial performance of the business in the given scenarios.
BTEC Business Studies Unit 13: Cost and Management Accounting
Learning Aim B: Carry Out Standard Costing and Variance Analysis Statements
BTEC Business Studies Unit 13: Cost and Management Accounting
P3 Calculate sub- and overall variances in given scenarios using standard costing.
M2 Analyse the reasons for the variances in given scenarios.
D2 Evaluate the usefulness of costing and budgetary control systems to the business.
Also covered in learning aim C
BTEC Business Studies Unit 13: Cost and Management Accounting
Learning Aim C: Explore Budgets for Financial Planning and Control
BTEC Business Studies Unit 13: Cost and Management Accounting
P4 Explain how budgeting is used in a selected business for financial planning and control.
P5 Prepare accurate subsidiary and master budgets in a given scenario
M3 Assess the viability of the completed budgets in a given scenario.
D2 Evaluate the usefulness of costing and budgetary control systems to the business.
Also covered in learning aim B
BTEC Business Studies Unit 13: Cost and Management Accounting
Learning Aim D: Undertake Investment Appraisal of Long-Term Capital Investment
BTEC Business Studies Unit 13: Cost and Management Accounting
P6 Apply investment appraisal methods to alternative capital investment proposals in given scenarios.
P7 Explain how non-financial considerations affect capital investment proposals.
M4 Analyse the results of the capital investment appraisal for decision making.
D3 Evaluate the long-term capital investment proposal, taking into account both financial and non-financial considerations, and formulate a set of appropriate and relevant recommendations.
BTEC Business Studies Unit 13: Cost and Management Accounting