Explain the use of planning tools used in management accounting


Using budgets for planning and control:

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Preparing a budget.

Different types of budgets (e.g. capital and operating).

Alternative methods of budgeting.

Behavioural implications of budgets.



Pricing strategies.

How do competitors determine their prices?

Supply and demand considerations.


Common costing systems:

Actual costing, normal costing and standard costing systems.

How cost systems differ depending on the costing activity: job costing, process costing, batch costing and contract costing.


Strategic planning