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Management Accounting Assignment - Pandrol UK Limited

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Added on  2020-01-16

Management Accounting Assignment - Pandrol UK Limited

   Added on 2020-01-16

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MANAGEMENTACCOUNTING
Management Accounting Assignment - Pandrol UK Limited_1
Management Accounting Assignment - Pandrol UK Limited_2
INDEX OF TABLESTable 1: Income statement using absorption costing.......................................................................6Table 2: Income statement through marginal costing......................................................................6
Management Accounting Assignment - Pandrol UK Limited_3
INTRODUCTIONThe chosen company Pandrol UK Limited is engaged in the business of manufacturingthe rail fastenings which is used to fasten the railway sleepers. In this case managementaccounting has a great role to play which enables the manager to analyse the information in orderto take timely decisions which is essential for the organization. It deals with the various types ofmanagement accounting systems which are followed in the organization and the tools which areused for the management accounting reporting which are used for the communication of thefinancial results. For budgetary control various planning tools are used to control the budgets tocontrol the wastage of costs. TASK 1P1) Management accounting and significance of its systemsReportTo,Line ManagerPandrol UKAs the management accountant of Pandrol UK which is engaged in the manufacturing ofrail fastenings to the railway sleepers. Management accounting is aimed at the main aspect ofmanagement which is decision making and this is only possible when dissemination ofinformation is done in accurate and timely manner (Alsharari, 2017). The principles ofmanagement accounting are- Influence: As we know the main function of management accounting is communicationof information so as to enable the decision making process and this involves thecommunication of information and this gets influences by the people transmitting them.Relevance: The information which is transmitted should be relevant to the mainobjective. The information which is not relevant should not be transmitted as this cancause a hindrance in decision making. Other than these principles there is its systems can be understood as:Job Costing Systems-Under this costing method, the companies where the entire output1
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