Analyse the relationship between the financial function and other functional areas within organisations
Examine the impact of financial objectives on decision making within organisations
Differentiate between management accounting and financial accounting
Analyse the impact of organisational and regulatory frameworks on an organisation’s approach to financial management
Analyse the challenges organisations face accessing finance
Differentiate between budget setting and financial forecasting
Evaluate budget setting approaches used by organisations
Formulate and justify a budget for an area of management responsibility
Analyse the factors that impact on budget management
Specify corrective actions to be taken in response to budgetary variance
Discuss reporting procedures for authorising corrective actions to a budget
