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Importance of Management Accounting and Differences from Financial Accounting

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Added on  2022-12-29

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This document discusses the importance of management accounting and how it differs from financial accounting. It also explores three techniques that management accountants can use to attain business objectives. The document provides examples and explanations to support the concepts discussed.

Importance of Management Accounting and Differences from Financial Accounting

   Added on 2022-12-29

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Accounting
Importance of Management Accounting and Differences from Financial Accounting_1
TABLE OF CONTENTS
QUESTION 1..................................................................................................................................3
(a) Computing break even point in units and amount of Product A of Walk About Ltd............3
(b) Calculating profit on the sale of 75000 units.........................................................................3
(c) Computation of net profit when Walk About Ltd incurs advertising campaign cost of
£10000.........................................................................................................................................4
(d) Limitations of break even point.............................................................................................4
QUESTION 2..................................................................................................................................5
A) Importance of management accounting, and the way it differ from financial accounting
provides........................................................................................................................................5
Differences between management and financial accounting.......................................................6
Three techniques through which management accountant can attain business objectives..........6
REFERENCES................................................................................................................................8
Importance of Management Accounting and Differences from Financial Accounting_2
Importance of Management Accounting and Differences from Financial Accounting_3

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