This week’s topics
Purpose of management information
- Operational planning
- Management decision-making
- Performance monitoring and budgetary control
- Introduction to Managerial Accounting
- What is Budgeting? | Budgetary control | Advantages & Limitations of Budgeting
- Value of information in effective decision making
- Using data to support decision making
What you will be able to do
- 1.2 Describe the purpose of management information.
Activity
Start with this week’s 4 videos, then: Seminar, guided reading and a short written task: describe the purpose of management information.
Study materials
Videos
- Introduction to Managerial Accounting · YouTube · Edspira · 11 min · for registered students
- What is Budgeting? | Budgetary control | Advantages & Limitations of Budgeting · YouTube · Educationleaves · 6 min · for registered students
- Value of information in effective decision making · YouTube · Galton College · 6 min · for registered students
- Using data to support decision making · Oak National Academy, Key Stage 3 (lower secondary level) · for registered students
Further resources
- Principles of Accounting Vol. 2, ch. 7.1–7.2: How managers use budgets; operating budgets · PDF · OpenStax, textbook chapter; pp. 316–328 · for registered students
- Principles of Accounting Vol. 1, ch. 1.1: The importance of accounting · PDF · OpenStax, textbook chapter; pp. 12–13 · for registered students
- Principles of Management, ch. 17: Organizational Planning and Controlling · PDF · OpenStax, textbook chapter; pp. 501–542 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
