Management Information

Course Description

The aim of this unit is to develop learners’ awareness of aspects of cost and management accounting, including the purpose of management information. The unit introduces the use of ICT in the recording of management information, including its advantages and disadvantages.

Course Objectives

The aim of this unit is to develop learners’ awareness of aspects of cost and management accounting, including the purpose of management information. The unit introduces the use of ICT in the recording of management information, including its advantages and disadvantages.

Key Topics

1. LO1: Understand the nature of cost and management accounting.
2. LO2: Be able to account for labour costs.
3. LO3: Understand the use of Information and Communication Technology (ICT) in the recording of management information.

Course Outline

Learning Outcomes

1. LO1 Understand the nature of cost and management accounting.
2. 1.1 Outline accounting systems used by organisations.
3. 1.2 Describe the purpose of management information.
4. 1.3 Compare cost and management accounting processes with those required for external financial reporting.
5. LO2 Be able to account for labour costs.
6. 2.1 Explain labour remuneration methods.
7. 2.2 Describe the processes for accounting for labour costs.
8. 2.3 Analyse trends for gross and net earnings.
9. LO3 Understand the use of Information and Communication Technology (ICT) in the recording of management information.
10. 3.1 Outline how ICT is used by business organisations to record management information.
11. 3.2 Explain factors that influence the use of ICT when recording management information.
12. 3.3 Explain the advantages and disadvantages of using ICT when recording management information in business organisations.