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Assignment on Management Accounting (Docs)

   

Added on  2020-11-12

20 Pages4969 Words276 Views
Management Accounting
Assignment on Management Accounting (Docs)_1
Table of ContentsINTRODUCTION...........................................................................................................................1Task1................................................................................................................................................1P1 Types of management accounting system and its needs .......................................................1P2 Management accounting reporting method............................................................................3M1 Benefits of management accounting system and its application...........................................4D1 Integration of management accounting system and accounting report .................................4Task 2...............................................................................................................................................5P3 Income statement by using marginal and absorption costing (See brief in appendix)...........5M2 Financial reporting documents..............................................................................................8D2 Financial report and interpretation of data ...........................................................................8Task 3...............................................................................................................................................8P4 Advantages and disadvantages of planning tools...................................................................8M3 Planning tools and application............................................................................................10Task 4.............................................................................................................................................10P5 Management accounting to respond the financial problems................................................10M4 Responding the financial problems by applying management accounting.........................13D3 Evaluation of planing techniques to solve the problems......................................................13CONCLUSION..............................................................................................................................13......................................................................................................................................................14REFERENCE.................................................................................................................................15
Assignment on Management Accounting (Docs)_2
Assignment on Management Accounting (Docs)_3
INTRODUCTIONManagerial accounting is the basic foundation of every business that helps to decide costof goods and services and manage all the required information which are related to businesstransaction. The managers collects, records and control over business data and cost. Managementof accounts and cost control is important in each industry that help to define profitable situationand also suggest to expand the business (Andon, Baxter and Chua, 2015). The main aim of thisreport is to understand the value of management accounting and how it help to control thebudget. To understand this Imperial Tobacco has been select that is UK based company andmanufactures Tobaccos and cigarettes. This is multinational company which is undergoing majorrestructuring in United Kingdom. This report will include system of management accounting,planning tools that is used to control over budget and management reports that helps to solvefinancial problems by using management accounting system. Task1P1 Types of management accounting system and its needs Management accounting is the process of defining the cost of business activities andoperate the business through managing the accounts and other information. The manager ofImperial Tobacco prepare internal financial report, records the transaction and make effectivedecision in order to achieve goals and objectives (Aryee and et.al., 2015). The main purpose of management accounting is to provide the financial informationwhich help to plan accurately in order to achieve future goals. Moreover to make effectivebusiness decision for expanding the business. Difference between management accounting and financial accountingBasisManagement accountingfinancial accountingDefinitionIt is used to make planning,organising and controlling thefinancial data.It classify, analyses, records andsummarize the financialinformation.ApplicationIt help managers to takemeaningful steps and strategy.It help to prepare financialaccounts with appropriateness.Nature Quantitative and qualitativeQuantitativeDependenceIt take help from financialIt does not depend on management1
Assignment on Management Accounting (Docs)_4

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