Unit 5: management accounting

ASSIGNMENT 1 FRONT SHEET
Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 5: Management Accounting (489)
Submission date December 16, 2021 Date received (1st December 16, 2021
submission)
Re-submission date Date received (2nd
submission)
Student name Bui Minh Phi Student ID BDBF200006
Class BA16101 Assessor name Vu Thi Quynh Anh
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I
understand that making a false declaration is a form of malpractice.
Student’s signature:
Phi
Grading grid
P1 P2 P5 M1 M4 D1 D3

Summative Feedbacks: Resubmission Feedbacks:
Grade: Assessor Signature: Date:
Internal Verifier’s Comments:
Signature & Date:

Contents
1. Introduction......................................................................................................................................4
2. Management accounting...................................................................................................................4
2.1. Definition of Management accounting........................................................................................4
2.2. Roles of Management accounting...............................................................................................5
2.2.1. Stewardship Accounting.......................................................................................................5
2.2.2. Long-term and Short-Term Planning.....................................................................................5
2.2.3. Developing Management Information System (MIS).............................................................5
2.2.4. Maintaining Optimum Capital Structure...............................................................................5
2.2.5. Participating in Management Process...................................................................................5
2.2.6. Controlling............................................................................................................................6
2.2.7. Decision-Making...................................................................................................................6
2.3. Comparison of Financial accounting and Management accounting..............................................6
2.4. Different types of MA systems....................................................................................................7
2.4.1. Cost accounting system........................................................................................................7
2.4.2. Inventory management system............................................................................................7
2.4.3. Job costing system................................................................................................................8
2.4.4. Price optimization system.....................................................................................................9
2.5. Different methods used for management accounting reporting..................................................9
2.5.1. Budget report.......................................................................................................................9
2.5.2. Accounts Receivable Aging Reports....................................................................................10
2.5.3. Job cost reports..................................................................................................................10
2.5.4. Inventory and Manufacturing report..................................................................................11
3. How organizations are adapting their management accounting Systems to deal with financial
problems.............................................................................................................................................11
4. Conclusion.......................................................................................................................................13
References..........................................................................................................................................13

Vietnam Dairy Products
Joint– Stock Company
1. Introduction
Vietnam Dairy Products Joint- Stock Company is currently the leading enterprise in the dairy
industry in Vietnam. The brand has been around for 40 years, it has become the most
mentioned national brand in the field of nutritional milk. Looking back on 2020, it was a really
tough first year for any business. However, to complete the tasks in 2020, the Board of
Directors and all employees have done their best. They have achieved many achievements and
are well received and trusted by partners and customers. Vinamilk‘s business results in
2020 achieved as follows:
o Total revenue in 2020: 59,723 billion VND, up 5.9% over the same period in 2019
and complete 100% of the year plan.
o Profit after tax in 2020: 11,236 billion VND, complete 105% of the year plan.
I’m a member of the Financial Governance committee of Vietnam Dairy Products Joint-
Stock Company. Our committee has to prepare an annual report for the shareholders’
meeting and I am in charge of writing this time.
2. Management accounting
2.1. Definition of Management accounting
Management accounting is the identification, measurement, analysis, interpretation and
communication of financial information to managers so that they can pursue organizational
goals. It differs from financial accounting because the intended purpose of management
accounting is to assist a company's internal users in making informed business decisions.
(Managerial Accounting Definition, 2021)