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TASK 14 P1 Concept of Management Accounting System and its Application

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Management Accounting INTRODUCTION 3 TASK 14 P1 Concept of management accounting system and different type of system which is related to management accounting 4 P2 Different method which is used in management accounting reporting5 M1 Benefits of management accounting system and their application7 D1 Critically evaluate the management accounting system 7 TASK 28 P3 & M2 Calculation of costs using different techniques 8 D2 Interpretation of data by using distinct techniques 2011).11 TASK 312 P4 Advantage and disadvantage of different planning tools

TASK 14 P1 Concept of Management Accounting System and its Application

   Added on 2020-01-28

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TASK 14 P1 Concept of Management Accounting System and its Application_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................4P1 Concept of management accounting system and different type of system which is related tomanagement accounting..............................................................................................................4P2 Different method which is used in management accounting reporting.................................5M1 Benefits of management accounting system and their application.......................................7D1 Critically evaluate the management accounting system.......................................................7TASK 2............................................................................................................................................8P3 & M2 Calculation of costs using different techniques...........................................................8D2 Interpretation of data by using distinct techniques..............................................................11TASK 3..........................................................................................................................................12P4 Advantage and disadvantage of different planning tools which is used for budgetarycontrol.......................................................................................................................................12M3 Use of different planning tools...........................................................................................13D3 Evaluation of planning methods..........................................................................................14P5 Comparison on different organisation that they adapt the management accounting systemto respond financial problems...................................................................................................14M4 Analysis of management accounting for the sustainable success.......................................15CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................16
TASK 14 P1 Concept of Management Accounting System and its Application_2
TASK 14 P1 Concept of Management Accounting System and its Application_3
INTRODUCTIONManagerial accounting helps every company in managing all the business activities sothat they can not face any issues and by that they can attain the goals and objectives. In each andevery business whether it is large or small having managers who use the management accountingsystem. For improving the business appropriate plans should be made. Along with this they haveto organise the resources and control the operations (Baldvinsdottir Mitchell and Nørreklit,2010). Managers of the firm have to carry out the different activities which includes planning,directing, motivating as well as controlling. Management accounting is the branch of accountingwhich assist in focuses on providing the information or data and this can be used by the internalusers. Managerial accounting along with the financial accounting having the most prominent thebranches of accounting and both deal with processing by using the information which aid inmaking the correct decisions (Significance of Management Accounting Techniques in Decision-making: An Empirical Study on Manufacturing Organizations in Bangladesh. 2011). The presentreport is based on Agmet which is a chemical producing company and this business entity having50 employees. In the below mentioned assignment, different planning tools should be used alongwith the advantages and disadvantages of distinct budgetary control has to be discussed. TASK 1P1 Concept of management accounting system and different type of system which is related tomanagement accountingManagement accounting is a system which is concerned with the different accountinginformation and that data is useful to the management. Management accounting is a applicationof the appropriate tools so that they can make projected and historical economic data of the entityso that they can assist the administration by establishing or making plans for the reasonableeconomic objectives in making the rational decisions as that they can accomplish the goals.Management accounting may be defined as a aspect of accounting which is concerned with theefficient management of a business so that they can facilitate having the efficient and opportunethe planning and control (Bennett, Schaltegger and Zvezdov, 2013). Management accountingsatisfies the requirements of the managerial activities so that they can make appropriate business
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