Bpp learning Media is an acca approved Content Provider

 
147 
Study Guide 
Intellectual level
(c) Identify and describe the main management accounting and 
performance management functions in business: 
K 
(i) Recording and analysing costs and revenues 
(ii) Providing management accounting information for 
decision-making 
(iii) Planning and preparing budgets and exercising budgetary 
control 
(d) Identify and describe the main finance and treasury functions: 
K 
(i) Calculating and mitigating business tax liabilities 
(ii) Evaluating and obtaining finance 
(iii) Managing working capital 
(iv) Treasury and risk management 
 
1
Organisational departments and functions 
1.1 Research and development 
Research may be 
pure
, 
applied
or 
development
. It may be intended to improve 
products
or 
processes
.
R&D should support the organisation's strategy and be closely co-ordinated with marketing.

Pure research 
is original research to obtain new scientific or technical knowledge or 
understanding. There is no obvious commercial or practical end in view. 

Applied research
is also original research work like pure research, but it has a specific practical 
aim or application (eg research on improvements in the effectiveness of medicines etc). 

Development
is the use of existing scientific and technical knowledge to produce new (or 
substantially improved) products or systems, prior to starting commercial production operations. 
Many organisations employ 
specialist staff
to conduct research and development (R&D). They may be 
organised in a separate functional department of their own. In an organisation run on a product division 
basis, R&D staff may be employed by each division. 
1.1.1 Product and process research 
There are two categories of R&D. 
