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Management accounting Assignment

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Added on  2019-12-28

Management accounting Assignment

   Added on 2019-12-28

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Management Accounting
Management accounting Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1) Management accounting and essential requirements of its systems................................1P2) Different management accounting reports.......................................................................3TASK 2............................................................................................................................................5P3) Various costing and differences between marginal and absorption costing methods.....5TASK 3..........................................................................................................................................10P4) Advantages and drawbacks of budgetary control system.............................................10P5) Management accounting systems for reducing financial problems of Harrods Ltd......12CONCLUSION..............................................................................................................................15REFERENCE.................................................................................................................................16
Management accounting Assignment_2
Illustration IndexIllustration 1: Income statement through marginal costing method................................................6Illustration 2: income statement through absorption costing method..............................................8
Management accounting Assignment_3
INTRODUCTIONManagement accounting is an essential decision making tool for effective businessoperations. It is useful for management of entire business activities organized by entity andproviding better quality of services. The present report is based on understanding differentaspects of management accounting for Harrods Ltd. It is a small scale retail sector's organizationof UK that provides clothing, food and drink services across country. Different managementaccounting systems and their significance are to be expressed. In addition to this, through thisassignment, various methods used for implementing management accounting can be determinedthrough this assignment. However, several costing techniques and difference between marginaland absorption costing is expressed. Moreover, critical evaluation on different budgetary controlsystems regarding decision-making process is to be determined. Along with this, learners areable to understand various accounting systems for improving services of Harrods' Ltd throughthis study. TASK 1P1) Management accounting and essential requirements of its systemsManagement accounting:- It is multidisciplinary approach remains helpful formanagement of overall business operations effectively. In this regard, different factors involvedsuch as; finance, costing, inventory and performance of Harrods Ltd get managed efficiently.However, it plays crucial role in expansion of small scale organization and increasing itsefficiency at high level. Including this, different costing methods are used for price determinationas well varieties of ideas are created to prepare strategies regarding business activities (Bennett,Schaltegger and Zvezdov, 2013). It influences productivity and profitability of firm to sustain itsgood reputation in market for long time period. It influences allocation of fund and resources forproviding better quality services by applying different techniques. Including this, it also affectsenvironment of organization to build up relationship among employees of the firm. Apart fromthis, it is determined that management accounting is useful to make decisions for enhancingbusiness and competitive strategies of entity also to carrying on it effectively. Therefore, byusing management accounting tools, balance between production and distribution of goods canbe created systematically through its actual position and reasons behind imbalance. However,varieties of innovative ideas are generated through this technique useful for expansion of entityand making place in market by facing competition. Hence, management accounting is one of the1
Management accounting Assignment_4

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