ACCY5104 – Budgets for Planning and Control
Module code
ACCY5104
Module title
Budgets for Planning and Control
Prescription
The aim of this course is to develop the knowledge, skills and competencies to prepare and use budgets to monitor performance and determine internal controls to minimise risk for an organisation.
Programmes
- BS7000
- NZ2459
- TP4775
NZQA Level
Level 5
NZQA Credits
15
Delivery method
- Web-Supported
Learning hours
- Total learning hours
- 150
Resources required
- Content
- LO1
- Purpose and limitations of budgets - planning, control and behaviour
- Preparation of budgets using spreadsheets - including but not limited to:
- Sales budget; cash budget; income statement; balance sheet
- Sensitivity analysis - what if scenario
- Flexible budgets:
- Reforecasting; variance analysis
LO2
- Variance reports - evaluation, corrective action
- Static budgets
- Flexible budgets
- Interpreting and communicating results
LO3
- The function of internal controls
- Functions and types of internal controls
- Testing internal controls and limitations of internal controls
- Determining actions and internal controls to minimise or mitigate risk
- Risk management
- Identification and measurement of risks
- Preparing a basic disaster recovery plan
- Computerised accounting systems - cyber security, cloud accounting - Learning Outcomes
- 1. Prepare and monitor budgets for internal stakeholders.
2. Apply communication strategies to provide budget and performance monitoring information to internal stakeholders.
3. Evaluate internal controls and financial and business risks of an organisation to minimise or mitigate risk. - Teaching and Learning Strategy
- Learning and teaching strategies will employ a range of elements drawn from approved methods to align with the context of the learning (delivery mode, regional specific requirement, etc.) and any particular needs of the group of aakonga.
- Assessment Criteria
- Assessment in this course employs an achievement-based grading scheme. Participants must submit all assessments and obtain at least 50% overall score in order to pass the course. Aakonga will be advised of all matters relating to summative assessment prior to the start of the course.
- Learning and Teaching Resource
- All required and recommended resources are provided to aakonga via course outlines.
