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Qualification - OTHM Level 6 Diploma in Accounting and Business
Unit Name - Business Performance Measurement
Unit Level - Level 6
Unit code - R/617/4376
Unit Credit - 20
Assignment Title - Business Performance Measurement
Learning outcome 1: Understand the principles of performance measurement.
Learning outcome 2: Understand performance analysis in for profit and not- for-profit organisations
Learning outcome 3: Understand specialist cost and management accounting techniques.
Learning outcome 4: Understand performance measurement reporting.
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Aim: The aim of this unit is to develop learners' understanding of performance management techniques. Learners will compare the systems used in profit making and non-profit making organisations. The learners will gain a working knowledge of performance measurement reporting and specialist cost and management accounting techniques.
Importance of performance measurement: allows comparison to standards that have been set to identify deviations; helps in identifying cost reductions; helps to align activities to strategic plans; identifies best practice; supports reduction of risk; provides accountability and incentives; allows benchmarking to outside organisations; past data can help future forecasting; can support borrowing requirements; management of cash flow and working capital.
Functions of performance measurement systems: records accounting information; records transactions; analyses information for reporting purposes; management of information; resources planning; management and operational control.
Sources of information: internal and external sources; information required for control purposes; costs of direct and indirect data collection; limitations of data.
External factors: factors (stakeholders, market conditions, competition); making allowance for external factors in performance measurement and interpreting performance; identify impact of external factors.
For-profit organisations: private sector organisations (manufacturing, service retail etc.); calculate and interpret performance indicators (profitability, liquidity, risk); non-financial performance indicators; ways to improve measurement; analysing past performance; short and long-term views; balanced scorecard; building block model (Fitzgerald and Moon); qualitative targets.
Not-for-profit organisations: public sector and not-for profit organisations; objectives and targets of not-for-profit organisations; issues in measurement (non-quantifiable, multiple objectives, qualitative target setting); how performance can be measured; Value for Money objective; non-financial performance indicators; analysing past performance; long and short- term views.
Divisional performance measurement: reasons for measurement of divisional performance; impact of transfer pricing; issues in divisional performance measurement.
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Activity-based costing: definition and use; cost drivers; calculation of costs; comparison with absorption-based costing; benefits and limitations.
Target costing: definition; determining target cost in manufacturing and service industries; issues in service industries; benefits and limitations.
Life-cycle costing: definition; determining costs (stages and total); benefits and limitations.
Throughput accounting: definition and purpose; theory of constraints; calculating ratios; multi-product decision-making; benefits and limitations.
Environmental accounting: definition and purpose; methods of managing environmental costs; issues, benefits and limitations.
Transfer pricing: definition and use; issues for organisational performance measurement.
Reasons for reporting: management decision making; information for stakeholders; confidentiality and security when reporting.
Needs of different audiences: identifying and meeting needs of different audiences.
Learning Outcomes- The learner will:
Assessment Criteria- The learner can:
1. Understand the principles of performance measurement.
Analyse the importance of performance measurement to organisations.
Explain the main functions of performance measurement systems.
Determine appropriate sources of information and data to carry out performance measurement.
Analyse external factors that impact on performance
2. Understand performance analysis in for profit and not- for-profit organisations
Outline the systems and processes involved in performance analysis in for-profit organisations.
Outline the systems and processes involved in performance analysis in not-for-profit and the public sector.
Explain why divisional performance is measured in organisations.
3. Understand specialist cost and management accounting techniques.
Evaluate the usefulness of activity-based costing.
Assess how target costing and life-cycle costing are used by business organisations.
Evaluate the relationship between throughput and environmental accounting.
Explain the rationale for transfer pricing.
4. Understand performance measurement reporting.
Explain why performance measurement is measured reported in organisations.
Evaluate the needs of different audiences when reporting performance.
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