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Paper 3.3
Performance Management
Syllabus aim
To ensure candidates can apply judgement and technique in the analysis of relevant data to provide management with the information required to contribute to a range of strategic planning, control and decision-making situations.
Objectives
On completion of this paper candidates should be able to:
- understand the objectives of preparing management information and the need to adapt techniques in a changing commercial environment
- identify the information needs of management and contribute to the development of appropriate systems
- evaluate the strategic performance of a business and recommend appropriate performance measures
- understand the significance of the relationship between financial and nonfinancial indicators of business performance
- apply techniques to evaluate management decisions in relation to costing, pricing, product range and marketing strategy
- identify and apply appropriate budgeting techniques to enable management to control the business
- demonstrate the skills expected in Part 3.