Management of Financial Control

Assignment
1. Define what is meant by management accounting and explain both the kind of value it can provide to an organisation and how perceptions of that value, and of the role of management accounting, have changed over time.
Total: 30 marks
2. Explain what is meant by the term relevant costs.
You should then think of a financial decision that a company needs to make (real or made up) which involves choice between different options. With reference to that decision, discuss in general terms what sort of costs would be relevant in making a decision about which option to choose and which costs would be irrelevant.
Total: 20 marks
3. Define and distinguish between the concepts of fixed and variable costs; in doing this you should use appropriate examples and diagrams. Show how those concepts can be used to develop the technique of breakeven analysis. Discuss both the uses of breakeven analysis and the view that its use in complex real world business situations can be problematic.
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Total: 50 marks
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