At the end of units 3 and 4 you need to reflect on the topics you have studied a

At the end of units 3 and 4 you need to reflect on the topics you have studied and how you will be able to apply them to your personal and/or professional life. You can also post reflections into the journal from the various lecturecast activities throughout the module.
Write a short (approx 300-500 words) Journal Entry to explain:
 The key things you learned during the last two weeks
 How can they relate to the workplace?
 How they can aid your personal and professional development?
 Remember to be specific and give examples (I work as head of finance department in the government please give some examples)
Uint 3 On completion of this unit you will be able to:
 Understand the concepts of unit contribution and contribution sales ratio.
 Use unit contribution and contribution sales ratios to calculate break even points, margins of safety and calculate target profits.
 Understand and apply different approaches to pricing.
 Understand the limitations of using cost volume profit analysis in short term decision-making.
Unit 4 On completion of this unit you will be able to:
 Understand and evaluate different approaches to budgeting.
 Understand the role of individual functional budgets and their inter-relationship to form the master budget.
 Understand and evaluate the behavioural aspects of budgeting.
 Understand the role of standard costing as a tool to monitor performance and establish management control.