OTHM LEVEL 5 DIPLOMA IN BUSINESS MANAGEMENT
MANAGEMENT ACCOUNTING AND DECISION MAKINGUnit Reference Number L/650/1154
Unit Title Management Accounting and Decision Making
Unit Level 5
Number of Credits 20
Total Qualification Time (TQT) 200 hours
Guided Learning Hours (GLH) 100 hours
Mandatory / Optional Mandatory
Task Grading Type Pass / Refer
Unit Aims
Management accounting provides business managers with financial information required toachieve business objectives. This requires effective decision making based on the timelinessand accuracy of financial information. The aim of this unit is to provide learners with anawareness of the scope and purpose of management accounting, so they are able to supporteffective decision making within a business.
Learning Outcomes and Assessment CriteriaLearning Outcome –The learner will:
Assessment Criterion –The learner can:
1. Know aboutmanagement accounting
and decisionmaking.
1.1 Explain what is meant by the term‘management accounting.’
1.2 Explain what is meant by the term‘decision making.’
1.3 Differentiate between managementaccounting and financial accounting.
2. Know about technicalprocedures used inmanagement accounting.
2.1 Describe different managementaccounting concepts.
2.2 Describe different tools and techniques usedin management accounting.
3. Be able to use managementaccounting to solveproblems and informdecision-making.
3.1 Apply management accounting techniquesto solve business problems.
3.2 Apply management accounting techniquesto inform business decision making.
ASSIGNMENT BRIEFS | SEPTEMBER 2022 25OTHM LEVEL 5 DIPLOMA IN BUSINESS MANAGEMENT
Unit Title Management Accounting and Decision Making
Task 1 of 2
Unit Learning Outcomes Assessment Criteria
LO 1 Know about management accounting and decision making. 1.1, 1.2, 1.3
LO 2 Know about technical procedures used in managementaccounting.
2.1, 2.2
Assignment Brief and Guidance
Write an essay which considers the following:• the terms ‘management accounting and ‘decision making.’• the differences between management accounting and financialaccounting. • different management accounting concepts.• the different tools and techniques used in management accounting.
Delivery and Submission
The submission is in the form of an essay written in Word format.The recommended word limit is 1500 words excluding diagrams, references, andappendices.
Referencing
You are expected to use relevant academic and reliable sources, and clearly referencethese in your work.References should be added to the text and placed at the end in a references list, usingHarvard Referencing style.You should complete a bibliography to support all evidence.
ASSIGNMENT BRIEFS | SEPTEMBER 2022 26OTHM LEVEL 5 DIPLOMA IN BUSINESS MANAGEMENT
Unit Title Management Accounting and Decision Making
Task 2 of 2
Unit Learning Outcome Assessment Criteria
LO 3 Be able to use management accounting to solve problemsand inform decision-making.
3.1, 3.2
Assignment Brief and Guidance
Learners will need to be supplied with a range of financial statements / accounts for abusiness. These can be downloaded by the tutor from the Internet.
Using the financial information your tutor has provided, you are required to: • applyappropriate management accounting techniques to suggest solutions to one or moreproblems the business has• suggest how the information could be used to inform business decision making.
Delivery and Submission
The submission is in the form of a report written in Word format.The recommended word limit is 1500 words excluding diagrams, references, andappendices.
Referencing
You are expected to use relevant academic and reliable sources, and clearly referencethese in your work.References should be added to the text and placed at the end in a references list, usingHarvard Referencing style.You should complete a bibliography to support all evidence.
ASSIGNMENT BRIEFS | SEPTEMBER 2022 27