Managerial Accounting Research Paper

This assignment requires students to research and analyze various concepts and techniques within managerial accounting. It delves into topics such as performance measurement, cost accounting systems, environmental management accounting, and the influence of managerial accounting on strategic decision-making. Students are expected to synthesize information from academic sources and demonstrate a comprehensive understanding of the role and applications of managerial accounting in contemporary business environments.

MANAGEMENT
ACCOUNTING

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1 ..........................................................................................................................................3
P1 Management accounting and different type of management accounting system..................3
M1 Benefits of management accounting system and their application ......................................4
P2 Different methods use for management accounting report....................................................5
D1 Integrated working of management accounting system and management accounting
reports .........................................................................................................................................7
TASK 2............................................................................................................................................7
P3 Cost analysis by different methods .......................................................................................7
M2 Range of management accounting techniques for appropriate financial report.................10
D2 Financial report and its interpretation ................................................................................11
TASK 3..........................................................................................................................................11
P4 Advantages and disadvantages of different planning tools in budgetary control................11
TASK 4..........................................................................................................................................13
P5 Use of management accounting system to respond to financial problems .........................13
M3 & M4 Managerial accounting respond to financial problems ...........................................14
D3 &D4 Planning tools helpful in sorting out financial problems ..........................................14
CONCLUSION .............................................................................................................................14
REFERENCES .............................................................................................................................15

INTRODUCTION
MA is a process which aid and support all departments managers to take effective
decision which are related with their daily operations. It enables the firm to keep their daily
routine data and according to those, their weekly, monthly and daily reports get prepared. This
method is suitable for them because an entity can identify the deviations which occur at the time
of manufacturing activity. If any thing went wrong then managers are capable in taking effective
decision. It is completely different from financial accounting in which the reports are prepared
for the outsiders which are called as the stakeholders of the company where as on the other hand
management accounting is used for taking decision which are for internal audiences of business
(Hammad, Jusoh and Ghozali, 2013). The present report is based on Unicorn grocery who is
working in a grocery items. Cited organisation is dealing in consumer products and managerial
accounting aid them in effective and efficient decisions. In this assignment, various things will
be going to be discussed in which methods used for making management accounting reports are
considered. Also the different forms of cost are explained. Advantages and disadvantages of
budget is an essential component which makes the report more effective. Also some other factors
are going to be elaborated in this assignment.
TASK 1
P1 Management accounting and different type of accounting system
Managerial accounting is a procedure through which an organisation can maintain their
records of operation. This helps them in making financial reports and aids the managers to take
decision which are for short term. Unlike the financial accounting, it does not provide the whole
year reports which help the organisation to analyse these reports. These reports are prepared for
all internal audiences which are employees, CEO of the company etc (Balakrishnan, Labro and
Soderstrom, 2014).
Management accounting aims to provide help to managers so that they can take decision
which helps in growth and success. Hence, managers can manage all activities in a proper
manner and have to formulate effective planning for sustainability. So it can be said that
management accounting provides a platform through which managers can take short term
decision.

Another advantage of using this approach is that it helps in making and changing
strategies which are helpful in long run success of a firm. This helps in gathering more and more
information about the business so that target can be set and achieved in the minimum time frame.
Also in case of finding out any deviation and difference by the superiors at the time of activity
then they can change that according to the need and demand of time.
This method is best for Unicorn grocery due to dealing in grocery items. They really need
this type of technique through which they can analyse their daily stock of vegetables etc. Once
they apply this system on their business, then they can manage their cash availability and reduce
unnecessary storage of vegetables and fruits (Baldvinsdottir, Mitchell and Nørreklit, 2010). This
helps them in another manner in which they can control the cost of warehousing and spoilage of
things. The wastage of products get minimises and their business can provide fresh items to their
target customers. This helps in creating a brand image and their business can attain profit in an
ethical manner. So this technique is useful for them with the purpose of earning profit.
Management accounting system has different number of aspects which helps the
organisation to use for their business activities. These system approaches aid an entity to take
effective decision on weekly or monthly reports. The systems of management accounting are as
follow:
1. Cost accounting: Cost accounting approach helps an organisation to use effective system
from which they can control their cost of product. In this concern they have to utilise
such method from which their production quality get improved at the minimum cost.
2. Inventory management: According to this technique it is clearly stated that a firm have to
manage their stock so that they can provide material when ever needed in market.
3. Job order costing: This method is used when the products are different from each other.
It deals in when an organisational production items get vary. Like unicorn grocery they
deal in grocery items as well as fruits and vegetables also (Bodie, 2013).
4. Price optimizing: It is an analysis by the company to identify that how the customers are
going to respond on different prices of the products and services through different
channels.
M1 Benefits of management accounting system and their application
All the above system is helpful according to Unicorn. They deal in different range of
products and from such methods they can examine cost which is going to be incurred. Along

with this, it also aids them in taking effective decision. By conducting costing system, they can
measure the cost which they incur at the time of procuring goods.
This method is helpful in determining the price of different products which they offer to
their customers.
By consulting the inventory management system, this helps them most because they can
manage their stock which is demanded in the market. All the methods are completely applicable
and managers can utilise such system in an appropriate manner (Breuer, Frumusanu and Manciu,
2013).
By using management accounting system, it enable an organisation to deal with may
problems. Unicorn grocery have to apply this technique in their business for managing their
inventory. Thus, they are dealing with regular basis operations and exchange of goods and
services. Moreover, they also have to analyse the job order costing which is associated with
every product. It is high in nature for an entity just because of dealing with different goods and
services.
P2 Different methods use for management accounting report
Accounting reports are a crucial part which shows clear picture of performance of an
organisation. A comprehensive accounting report is prepared in every quarter to give a holistic
view of the business finance. This information is helpful in changing strategies according to the
need of market and competitors.
Managers become more and more capable in taking decision which sort out all of their
problems in shorter time course. These reports are prepared with the purpose of achieving the
targets and goals which are set by the firm. These reports are prepared on the weekly, monthly
and quarterly base so that in such time period if any type of difference occurs then managers can
easily work on that.
Accounting reports helps in keeping the business fit and healthy. As like human beings
regular check up is compulsory for them to maintain their body healthy same procedure is
followed in business. For human beings, doctors help them in keeping them fit where as
managers are the doctors for any business firm. They have to look over on all acts which take
place in an entity.
While there are different kinds of business reports which are valuable for them to
maintain their firm health in long term (Burritt and et. al., 2011). These report aids the

organisation to provide quality products and maintain a brand image in front of new users also.
Their profit margin will get increase and all activities will be carried out in a systematic manner.
Managerial accounting reports are helpful for many leaders and managers as per this they can
examine performance of business entities and take effective decision through which growth and
sustainability become possible.
The managerial accounting reports are: i) Budget report ii) Account receivable aging
report iii) Job cost report iv) Inventory or manufacturing report. All these reports are helpful in
analyse the performance of business so that they can reformulate their strategies. The basic
discussion of these points is as follow:
1. Budget report: It is a most important and the most fundamental report in managerial
accounting. Budget enables the organisation to control cost of an enterprise whether it is
unified or has several departments. It is prepared in the prior year so that all expenses get
evaluated. (Bushee, Carter and Gerakos, 2013).
2. Account receivable aging reports: This type of reports is crucial for the business purpose
because it signifies about credit offer to the customer. The main purpose of preparing this
report is to identify the reasons behind the process of collection. An organisation has to
tighten their credit policies in favour of such customers who have failed to meet with
their debts on time. Hence, a firm have to look over on their old debts also.
3. Job cost report: “Job cost reports provide a side-by-side view of the total cost accrued in
a single project compared to the expected revenue yielded by that project”. So it is the
duty of a leader or manager to evaluate that which project require more fund and identify
that how much cost is going to be spent on that apart from the expected estimation.
Hence, managers have to evaluate such projects which provide them high profit so that
they can execute that.
4. Inventory and manufacturing report: Companies which deal in physical products can
use this report for making and comparing two things in an effective manner. This report
includes certain number of things like inventory waste, hourly labour cost and per unit
overhead cost. An organisation can compare between two or more departments to
identify which one is providing the best outcome at the minimum cost (Garrison and et.
al., 2010).

Every business firm have to use this technique so that they can achieve their goals on
time and at a minimum cost. It enables in providing a sense of state of business finance and grabs
all the opportunities which arise in the marketplace. Unicorn grocery can utilise this approach for
making their supply process effective.
They have to prepare budget in which cited firm have to ascertain all of their expenses
which are going to occur in an accounting year in short run. Also they have to identify that their
debtors pay all amount on time or not. The basic aim behind this activity is just to recover all
such amount which does not get covered. This leads in improving their operations more
smoothly because the amount of fund for routine operation increases. So all reporting system are
helpful in some of its nature so that business can prosperously grow and expand their activities
and its profitability gets increased day by day (Grafton, Lillis and Mahama, 2011).
D1 Integrated working of management accounting system and management accounting reports
Management accounting system is an analysis of all activities which are taking place in
an organisation. It enables the manager to analyse statistical form of the data of an organisation
which they performed during a week or in a month. On the basis of these statistical data a report
get formed. This helps them in improving their productivity and controlling deviations in a
proper framework. For example by using the inventory and management accounting system, an
organisation become able to produce only such quantity of goods which are demanded as well as
on the basis of reports, entity can manufacture only such quantity of goods which required or not
present in their warehouses. Thus, this process help in integrated the management accounting
system with all of their reporting process.
TASK 2
P3 Cost analysis by different methods
Cost accounting is a procedure through which the cost of products measured. Along with
this, the amount which is incurred with the production of items is also including in the actual
price of the good. Correct amount have to be mentioned in the financial statement which helps in
identifying the correct price of the product. There are various types of cost which have to been
taken into account and enables in understanding this approach conveniently.
1. Direct: Such cost which is directly related with factory and do not get vary.

2. Indirect: Such type of cost does not directly affect the production unit . It includes salary,
rent etc.
3. Fixed: This type of cost do not get changed and remain fixed with any course of time. It
remains constant with any course of time (Herzig and et. al., 2012).
4. Variable: Change in cost is referred to as the variable cost. This process is only possible
in the long run of business.
5. Operating: Operating cost is such type of cost which is related with the operational
activity of business.
There are different types of cost which an organisation has to use for setting price of their
product. All these questions answer by taking this approach into consideration. The two major
things which helps in better understanding about this concept is: i) Marginal costing ii)
Absorption costing.
1. Absorption costing: Absorption cost is anything which is directly related with cost. It
incur straightforward for producing an item for the target customers of the business. (Li and et.
al., 2012). This is the reason it is known as the full costing method because it absorbs the full
cost of product. This is one of the most important term which provide a platform to get the actual
price of product and add adequate amount of value in that. So an organisation can attain
appropriate profit in an ethical manner. The income statement of Unicorn grocery by using
absorption method is as follow:
Selling Price £35
Unit costs
Direct materials £6
Direct Labour £5
Variable Production overhead £2
Variable sales overhead £13
Budgeted production for the period is 600 units
Fixed cost for a month:
Production overhead: In this budgeted cost is £1,800 and Actual cost is £2,000

Administration Cost: In this budgeted cost is £800 and Actual cost is £700
Selling cost: In this budgeted cost is £400 and Actual cost is £600
Absorption costing
Working 1: Calculate full production cost
Direct material £6
Direct labour £5
Variable cost £2
Fixed cost £3
Total £16
Working 2: calculate value of inventory and production
Opening inventory Production Closing inventory
0 700*19 = £13300 100*16 = £1600
Working 3: under/ over absorbed fixed production overhead
Actual fixed production: £2100
Fixed overhead: £2000
Total £100(over absorbed)
Net profit using absorption costing £ £
Sales
(-) Cost of Sales:
Opening stock
Manufacturing
Closing stock
(Under)/ Over absorbed fixed prod. O/h
Gross Profit
Less Expenses
Variable sales expenditure
Fixed administration expenses
0
11200
(1600)
600
700
21000
(9600)
11400

Fixed selling expenditure
Over absorption
Net Profit
600
(100) (1800)
9600
Marginal costing: Marginal cost of an item signifies the change which occurs from the past to
present. Marginal cost refers to as the unit which is produced last by the firm.
Marginal costing = Change in consumption/ Change in quantity of the product.
Marginal costing is helpful for the managers in taking effective decision. While regarding
this approach, the changes easily get analyse which occur during in production activity. If
managers found any kind of deviation while analyse all factors then they can stop such activity
immediate. This lead in promote sustainability of an organisation. So this is considered as one
of the most effective system. This procedure aids the management team to focus on variability
which takes place due to a specific judgement. The income statement by the marginal costing is
as follow:
Working 1: Calculate variable production cost £
Direct material 6
Direct labour 5
Variable production O/h 3
Variable production cost 14
Working 2: Calculate value of inventory and production
Opening inventory Production Closing inventory
0 700*14 = 9800 100*14 = 1400
Net profit using marginal costing £ £
Sales 21000

Less Variable costs
Opening stock
Manufacturing
Closing stock
Contribution
Less Fixed costs
Variable Production expenses
Administration cost expenditure
Selling cost
Net Profit
0
9100
(1300)
600
2000
700
600
(7800)
13200
3900
9300
M2 Range of management accounting techniques for appropriate financial report
Concept or technique of managerial accounting refers to all methods which are helpful
for a firm in its long run survival. The system approaches which are helpful for this procedure
are as follow:planning and budgeting, short and long term decision, operational measurement of
performance. For this concern, these topics have to appropriately understand: Planning and budgeting: This process helps in planning all expenses which are going to
be incurred in a week or in a month. The budget has to be prepared according to such
planning practise (Lukka and Modell, 2010). Short and long term projects: The second technique in this regard is project decision
making. Managers use managerial accounting reports through which they can identify
that which project is suitable for them or which is not. Operational measurement of performance: The main motive behind using this technique
is to make an appropriate comparison between actual results which achieve by a firm on
the basis of their planning and budgeting.
Unicorn grocery can use this technique through which their financial reports become more and
more attractive. Firstly, they have to plan that what type of activities are going to be performed
by them and what amount is going to be spent on each and every activity by consulting effective
budgetary approach.

On the basis of various accounts and reports, it get analyse that, by identifying the net
profit through marginal costing, company already have a profit of 9300. This signifies that they
are dealing in high quality products with little variations. This get done because of properly
utilise the planning concept and implement it into business operations. Along with this, they have
prepare short and long term objectives in an adequate manner for attainment.
D2 Financial report and its interpretation
As per the above financial report, it is examine that company's profit by the absorption
costing approach is 9600 which is more than marginal costing. Also £100 is over absorbed by the
organization (Macintosh and Quattrone, 2010). Their financial position is strong and they do not
need to change more things.
Net profit using marginal costing £ £
Sales
Less Variable costs
Opening stock
Manufacturing
Closing stock
Contribution
Less Fixed costs
Variable Production expenses
Administration cost expenditure
Selling cost
Net Profit
0
9100
(1300)
600
2000
700
600
21000
(7800)
13200
3900
9300
This is a income statement of the company in which net profit through marginal costing get
calculated. According to this, company is grocery store is earning a profit of 9300 which is
appropriate in nature. Thus it get identify that their condition is better than other small
enterprises.

TASK 3
P4 Advantages and disadvantages of different planning tools in budgetary control
Budgets of an organisation promote activity through which they can manage their
funding. It helps them to allocate their funds in the right directions. So by using the budgetary
approach, proper estimation of funding process have to be applied through which different
operations managed in a systematic manner. It includes all expenses and investment which are
going to be taking place during a year.
Managerial accounting is a process through which short term decision can provide
benefits in the long run. It is necessary for a firm to manage their budgets in such a manner so
that their daily operations can be carried out. This act provides salary, wages, incentives as well
as payment to hour labours etc. For all such things, it is mandatory for them to prepare a separate
column of such type of expenses through which they can meet with their routine expenditure
(Otley and Emmanuel, 2013).
The budget planning is an important task which an organisation has to accomplish. This
aids them to ascertain all the risk in advance and prepare a firm in overcoming from all of them
in a proper manner. Along with this a budget has control process on which all the things should
have to get done:
1. Enables the managers to utilise all resources in a proper and optimum manner. This
promotes the effective working and reduces the wastage.
2. Provide smoothness in working by enabling all control system to complete their actual
needs and demands.
3. Provide a clear picture of all things which they have to accomplish in near future.
4. Facilitate the managers to examine their performance and their units.
These things are helpful in proper estimation and utilisation of budget. These factors are helpful
for making survival of the company smooth and appropriate.
The budget has usually three main types through which an organisation can allocate their
funding. These three kinds are basic planning tools under the budgetary control system. The
three main techniques for budget are:
1. Financial
2. Operating
3. Non monetary

Under the financial budgetary, all activities which are related with the finance of an organisation
are included (Renz, 2016). This help in proper allocation of finance of a firm. The main
advantage of this approach is to analyse the finance of a company and they can purchase many
new assets for their business. This helps them in most significant manner because they become
able to produce more high quality products. One of the limitations of this approach is that
sometimes some department do not accomplish their task in given budget so it directly affects
the efficiency of products.
Unicorn grocery has to formulate their financial budget in a proper manner. Also they
have to make this procedure flexible. Like in case of emergency of insufficient budget, they have
to allocate some more amounts to such departments which need that.
Operating budget represents the operational activity of a business. According to this,
budgetary control management allocate some amount of money to their department on which
basis acts have get done. The major advantage of this technique is that it aid operational
managers to control their expenses. (Setthasakko, 2010).
Unicorn grocery deal in grocery items so that sometimes they can bear the uncertainty in
suppliers price etc. Along with this, the prices of the products went high and this measure
problem are not predictable in advance. This will increase the cost of operation which is not
suitable for an organisation. Moreover, budgetary control is termed as essential tool through
which whole planning get done in an appropriate manner.
Budgetary control is a process which define the ability of managers that how they are
going to utilise all resources and funds properly and monitor all the things properly so that cost
can get control in an adequate manner. It is helpful in comparing the actual results with desire
results so that a proper differentiation get done. There are various sort of planning tools are
identify which are as follow:
 Cash budget
 Capital expenditure budget
 Cost plus pricing
These are the few selected planning tools in context of budgetary control which can use by an
organisation in relation to maintain proper work. All these planning tools have several number of
advantages and disadvantages which have to take in account by Unicorn grocery before their use.
Hence, a proper differentiation between two of them are define as follow:

Planning tool Advantages Disadvantages
Cash budgets 1. It provides a detail
overview of cash
inflow and outflow of a
company and limits the
expenditure of
company in relation
with cash availability.
2. Another major
advantage of cash
budget is helpful in
controlling all
unnecessary expenses
of an organisation so
that they can manage
every fact.
3. Use in extent to credit
sales by analysing the
statement in short
period of time.
 Based on manipulation
in which cash budget
prepared on the basis
of initial year for next
year.
 Non financial factor
made vast impact on
cash budget as well
because all cash related
things are included
during for a year.
Capital expenditure budget 1. Helps in understand
various risk which are
related with business
investment.
2. Support in identify
which is the best area
for investment yield.
3. Help in control the
expenditure which
incur on projects.
 Based on long term and
can not reverse in easy
manner.
 Based on estimation as
future is uncertain in
nature.
 A wrong decision will
affect the long term
durability of an
organisation.

Unicorn grocery have to take all these thing in account and take appropriate and adequate steps
in relation to proper planning and management. For such consent, they can use cash budget and
capital expenditure budget for framing their action plan in long term context.
TASK 4
P5 Use of management accounting system to respond to financial problems
Managerial accounting is a one of the best alternative method of financial accounting
through which effective decision can be made on the basis of managerial reports. Reports are
maintained on the basis of weekly and monthly analysis. So these short run decisions give
benefits to them in their long run.
Managers take essential steps for all projects which are not profitable for an organisation
purpose. Such undertaking are helpful in long run survival and sustainability of firm. This helps
them in sorting out all issues in a specific time period they will going to manage their department
and their operations in a systematic manner. Managerial accounting provide a brief detail of
projects which are in process and by consulting effective budgetary approach they can formulate
strategies which are helpful for an organisation to measure that such project is beneficial for
them in their long run or not.
Like, if Unicorn grocery wants to expand their business by providing door to door
service. This needs more amount of money because in this concern, they need some vehicle and
more man power (Simons, 2013). Also, now they have to add some price in products because
they have to set their margin through which their profitability cannot get decrease.
In this scenario, they have to first analyse the market and measure their financial reports.
If they have appropriate amount of fund for next few years then, they have to really get started
with this project. This project beneficial for them and might get success in near future.
Moreover, managerial accounting helps in examining weekly, monthly and quarterly
reports of the business. So in case, firm is suffering from any financial crises then they can drop
down their idea of new project and focus on such projects which provide low outcome. Once the
deviations get measure it is a initial duty of manager to work on such problems which might
affect business. Hence, solutions have to be in such a manner through which all financial crises
get sort out.

Budgets preparation is one of the best methods which Unicorn grocery can use to solve
any of the financial problems. This helps them to formulate such budget which is for the short
term. This provides flexibility in respective process (Ward, 2012).
Along with this, they are also required to give regular payment to their suppliers. In this
concern, they need more and more amount of money. Also they have to control their stocks so
that their prices do not increase and wastage of resources gets neglected. In relation to met with
all financial problems in an adequate manner, there are several number of management
accounting system approaches are identify which are helpful in overcoming from this:
 Key performance indicator
 Budgetary targeting
These two are best tools and techniques which support in dealing with many financial problems
in an appropriate manner. The key performance indicator helps in determine that how effectively
business attain all of their targets. Thus, through this, Unicorn grocery can deal with all problems
which are taking place during their business.
Budgetary targeting is helpful in identifying that all goals and objectives are ascertain
according to their formation or not. Thus, Unicorn grocery can use this approach for measuring
that all of their goals are ascertain in well defined time duration or not.
The two major financial problems of business which made vast impact on Unicorn
grocery are: Profit level: A major thing which get determine in an organisation is profit level. Their
profit margin is getting decline as per days which create financial problem for business.
Management have to use appropriate steps through which they can overcome from all
these issues.
 Productivity level: As the savings get decline productivity level also get reduce. Thus,
management have to take this in account because financial problems also affect
productivity level of an entity.
On the basis of all these things, management of Unicorn grocery have to prepare an action plan
to respond to all these issues in an ethical manner. A perfect framework is one which support in
dealing with all problems in an adequate manner.
 Unicorn grocery have a problem of lack of fund.
 It get overcome through arranging fund from various shareholders of a company

 Setting standard of performance and prepare budget as well
 Work on all the objectives of a company and operate them properly.
 Use KPI and Budgetary targeting method to overcome from them,.
While dealing from financial problem, management have to use this action plan and work
according to that. It support them in overcoming to all these issues in an adequate manner and
resolve them as soon as possible.
M3 & M4 Managerial accounting respond to financial problems
Managerial accounting provides a brief detail of each and every activity. This is one of
the most important fact through which all financial crises can be solved. It leads in analysing all
deviations in a proper manner. So that in case of any kind of deviations, it can get sorted out as
soon as possible. For gaining the sustainability of project, managerial accounting process can
use. In such relation KPI and budgetary targeting which are helpful in controlling the financial
problems of a business. Thus, by using appropriate tool and techniques all sort of things can
control properly by management.
D3 &D4 Planning tools helpful in sorting out financial problems
Budgetary control is a helpful thing in setting out plans for all investment related activity.
So organisation has to use these tools in an effective manner and work on all the financial and
non financial issues in a proper manner. The financial problems once get solve will help in
promoting sustainability of an organisation (Zimmerman and Yahya-Zadeh, 2011).
CONCLUSION
It is concluded from the above report that an organisation has to use appropriate methods
which aid them in their sustainability and make their working operations successful. Managerial
accounting is a procedure which provides brief detail of projects and activities which are
commenced in a week or in a month. Also the cost estimation process is compulsory through
which all costs can be measured. By conducting the appropriate approach, financial problems
can be sorted and this will promote sustainability of the firm in long run. All such steps are
helpful for an organisation in achieving their targets.

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