Page 1 of 5 ICON COLLEGE OF TECHNOLOGY AND MANAGEMENTPearson BTEC HND in Business (RQF)Unit 5 Management AccountingScheme of WorkSession: September 2020This unit is aimed at achieving the following learning outcomes:LO1: Demonstrate an understanding of management accounting systemsLO2: Apply a range of management accounting techniques.LO3: Explain the use of planning tools used in management accountingLO4: … Read more
Bailey plc commenced business on 1 March making one product only, the standard cost ofwhich is as follows:Thefixed production overhead figure has been calculated on the basis of a budgeted normaloutput of 36,000 units per annum. The actual fixed production overhead incurred in Marchand April was £15,000 each month.Selling, distribution and administration expenses are: Fixed£10,000 … Read more
1Lecture 1: Introduction of the UnitPrepared by: Dr Gilbert ZvobgoICTM Objectives of the Session: To introduce the Unit’s contentand the Unit assessment 1.You should begin by asking the students to introducethemselves and ask them to say (or write) their expectationsof the Unit. If written, let them read their expectations to theclass. 2. Online Ground Rules1 … Read more
24/02/20201LO2: Variance AnalysisDr Fidelis AkangaLearning outcomesBy the end of this unit Define and explain the purpose of standardcosts Discuss the usefulness of variances Calculate and interpret variances24/02/20202Recall Planning involves systematically looking at thefuture, so that decisions can be made today whichwill bring the company its desired results. Control can be defined as the process of … Read more
MANAGEMENT ACCOUNTING SEMINAR 2EXERCISE 1M Ltd had the following material transactions during the first week in March. Quantity(units)Unit cost£Opening balance1st March102.00Receipts2nd March702.20Issues3rd March40Receipts4th March502.30Issues5th March70 Show the stores ledger card for the week using each of the following methods of material valuation:(a)FIFO(b)(c)LIFOWeighted average cost EXERCISE 2Kershaw Bookstore had 500 units on hand at January 1, … Read more
24/02/20201LO4: Strategic ManagementAccounting: Balanced ScorecardDr Fidelis AkangaLearning outcomesBy the end of this unit Explain what strategic management is andhow it can be used to help a firm create acompetitive advantage. Explain what Balance Scorecard is and howit relates to organisations24/02/20202Strategic Management Accounting CIMA (2005) defines SMA as:“A form of management accounting in whichemphasis is placed … Read more
24/02/20201LO1&2: Inventory ValuationMethodsDr Fidelis AkangaLearning outcomesBy the end of this unit Explain process Costing Calculate & explain the treatment of normaland abnormal losses Distinguish between first in, first out (FIFO),last in, last out (LIFO), and average costmethods of stores pricing24/02/20202Process Costing Costing method used company is involved in massproduction through a sequence of severalprocesses. Cost … Read more
24/02/20201LO2&3: BudgetingDr Fidelis AkangaLearning outcomesBy the end of this unit Explain the purpose and nature of abudgeting system Explain how budgeting is used for planningand control Understand the different types of budgets Explain the benefits of budget Prepare different budgets and explain howthey lead to the master budget24/02/20202Definition and Role of Budgets A budget is … Read more
Question 2: BreakevenA firm has the following income statement for a month.Sales: 3,000 units at £80/unit £240,000Less: Cost of Goods Sold.Variable Production Cost (180,000)Fixed Production Cost (19,800)Gross Margin 40,200Selling and Administrative ExpensesVariable Selling Cost (21,000)Fixed Selling Expenses (7,500)Net Profit £ 11,700Required:1. Find the firm’s breakeven output.2. If it wishes to have a monthly net income … Read more
Biochemistry Lab Exercise 2, page 1/5 Student ID number:______________ Lab day/time: ______________ Overall mark: ( /20) Restriction Enzyme Exercise: Given the following information: Uncut lambda () DNA is 48,502 base pairs long.DNA is normally in a linear state before entering a host cell. However, on infection of a host cell theDNA circularises. To be able … Read more
