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Assignment on Management Accounting in Unicorn Grocery

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Added on  2020-06-06

Assignment on Management Accounting in Unicorn Grocery

   Added on 2020-06-06

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Management Accounting
Assignment on Management Accounting in Unicorn Grocery_1
Table of Contents
Assignment on Management Accounting in Unicorn Grocery_2
FROM: MANAGEMENT ACCOUNTING OFFICERTO,GENERAL MANAGER1
Assignment on Management Accounting in Unicorn Grocery_3
ZYLLA COMPANYSUB: MANAGEMENT ACCOUNTING SYSTEM INTRODUCTION Management accounting is identify as an effective process of identification,accumulation, measurement, preparation, analysis, communication and interpretation ofinformation that supports managers in particular decision making within the framework ofcompleting the organisational goals and objectives. It is also define as a process of preparingmanagement accounts and reports that render proper and timely statistical and financial datawhich is require by administrators in order to make short as well as day-to-day decisions inaccurate manner (Baldvinsdottir, Mitchell and Nørreklit, 2010). Management accounting is moreessential and important for the company in different terms like; determine of aim, better serviceto audience, assist in the plan preparation, measurement of performance, large number of profitscan be obtained, security and safety from trade cycle etc. In present assignment, chosenorganisation is Unicorn Grocery which is a retail business that deals in dried, processed and freshdrink and food. They also renders, body care, household and grocery products to the customers.Annual turnover of the organisation is less than £500,000 and workers are employing approx 50.This report based in different tasks which cover various points like, importance of managementaccounting, range of management accounting tools and many other. Use of planning tools andtechniques which is also determined in this project. There are different ways in which anenterprise apply management accounting in order to solve financial problems in an effective andefficient manner. TASK 1P1. Management accounting and essential requirements of management accounting systemsManagement accounting: It is the provision of non-financial and financial decision-making data or information to managers (Bodie, 2013). Management accounting is also identifyas the cost and managerial accounting, it the process and activity of evaluating businessoperations and costs in order to prepare internal financial account, report and records to assistadministrators' decision making process in accomplishing long term goals of business. In simpleword, it is an effective act of making sense of costing and financial information and translating2
Assignment on Management Accounting in Unicorn Grocery_4

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