• TFAC3004
• Mgmt Acc - Planning & Control

This module further develops students knowledge of management accounting practice and techniques used to inform management planning, control and decision making. The module focuses on developing a knowledge of budgetary planning and control systems and performance appraisal within the hospitality, tourism and leisure sectors.

This module aims to further develop students understanding of management accounting principles and practice used to inform management planning, control and decision making within the hospitality, tourism and leisure sectors

The budgetary process, Types of budgets, Motivational aspects, incremental and zero based budgeting, Forecasting key variables, budgeting and decision-making. Budgetary planning - preparation of master budget Budgetary control - Fixed and flexible budgets Budgetary control - Variance analysis and interpretation Standard costing - variance analysis and interpretation Performance appraisal - benchmarking and interfirm comparisons Performance appraisal - Preparation, analysis and interpretation of key management accounting performance indicators focusing on profitability and cost analysis ratios, management efficiency ratios, hospitality operating ratios, liquidity and gearing ratios.