Page 9 - F2 - MA Integrated Workbook STUDENT 2018-19

Chapter 1

Accounting for management

Outcome

By the end of this session you should be able to:

 distinguish between data and information

 identify and explain the attributes of good information

 outline the managerial processes of planning, decision making and control

 explain the difference between strategic, tactical and operational planning

 distinguish between cost, profit, investment and revenue centres

 describe the differing needs for information of cost, profit, investment and
revenue centre managers.

 describe the purpose and role of cost and management accounting within an
organisation

 compare and contrast financial accounting with cost and management
accounting

 explain the limitations of management information in providing guidance for
management decision-making

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Integrated Workbook can
be found in Chapter 1 of your Study Text

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