Profit planning is crucial in achieving sustainability and growth for business, especially in a global marketplace. In management, decisions have to be made daily, and financial controls are key to making them. By giving you the chance to apply financial controls to make a variety of short and long-term decisions and the opportunity to create a profit plan combining all the key considerations needed in business – you'll make rapid progress and gain crucial experience. This means when you step into your career, you’ll be ready to make a real impact and deliver results.
Total contact hours: 32
Private study hours: 118
Total study hours: 150
Main assessment methods:
VLE MCQ part 1 (20%)
VLE MCQ part 2 (20%)
Individual report (3,000 words) (60%).
Reassessment method:
100% coursework.
Core text: Drury C. (2019) Management Accounting for business, 7th edition. London: Cengage Learning.
Suggested reading:
Atrill, P., McLaney, E. (2018) Management accounting for decision makers, 9th edition. London: Pearson.
Seal, W. (2011) Management Accounting for business decisions, 1st edition. London: McGraw Hill.
See the library reading list for this module (Canterbury)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- demonstrate an in-depth knowledge of accounting and control systems that businesses use for making managerial decisions.
- evaluate the function and range of financial controls managers use for making profit planning decisions.
- develop a business plan that integrates strategic and marketing considerations with financial objectives and analysis.
- use accounting and control tools to assess business performance, provide feedback and give recommendations for improvements.
- understand the sources and availability of finance, set financial controls and make capital investment decisions.
- use accounting and control tools for corporate social responsibility strategy implementation and sustainable business performance achievement.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- demonstrate problem-solving abilities
- demonstrate decision making skills
- structure and critically analyse information from a variety of sources
- write coherently and provide recommendations for making managerial decisions
- plan work, manage time and study independently
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