Management Accounting Research Trends

This assignment examines recent trends and advancements in management accounting research. It explores key themes such as validation methods in interpretive research, organizational and sociological perspectives on management accounting and control systems, and the persistent research-practice gap. The assignment also investigates the impact of factors like institutional contradictions, risk management, enterprise systems, and cultural influences on contemporary management accounting practices.

Management Accounting

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1&M1 Explain management accounting and give the essential requirements of different
types of management accounting systems..................................................................................1
P2& D1 Evaluate the different methods of management accounting system.............................3
TASK 2 ...........................................................................................................................................5
P3, M2 & D2 Income statements as per marginal and absorption costing.................................5
TASK 3............................................................................................................................................7
P4 Different types of planning tools used for budgetary control................................................7
M3 Analyse over the utilisation of various planning tools of management accounting system
.....................................................................................................................................................9
D3 &M4 Analyse how, in responding to financial problems, management accounting can
lead organisations to sustainable success..................................................................................10
TASK 4..........................................................................................................................................11
P5 compare how management accounting methods are utilized by organisations to respond
towards financial issues.............................................................................................................11
CONCLUSION .............................................................................................................................12
REFERENCES .............................................................................................................................13

INTRODUCTION
Management accounting includes various techniques through which the managerial
personnels of any enterprise can frame certain decision in accordance with the objectives and
goals of such entity. Management accounting is a combination of concepts of financial
accounting and principles of management(Macintosh and Quattrone2010). Through this
managers can take any decision in reference of the purpose for which they are running their
organisational process. In this report management accounting has been defined in a detailed way
with its essentials requirements(JalaludinSulaiman and Nazli Nik Ahmad2011). Further it has
been defined that how management accounting system and management accounting reporting
can be integrated within the organisational structure of Sollatek. In this report different methods
of management accounting has been mentioned which can be used for financial reporting. In this
report various methods which helps in making budget are detailed with its advantages and
disadvantages.
TASK 1
P1&M1 Explain management accounting and give the essential requirements of different types
of management accounting systems
Management accounting is a proving timely finical and statistical information to business
managers so that they decision makes to day to day activity in the organisation and to decision
regarding short term based. management accounting is process of the help of the people to the
makes a decision making a management accounting is involves partners in management decision
making a expertise n financial reporting and control to assets management in formulation and
implementation of all organisation strategies to analysis management accounting system are
deployed to provide information that management can use to make good decision to
regarding(Baldvinsdottir,Mitchelland Nørreklit 2010). the information of capture and valuable
data can be used to mange and control a business better basically including features of reporting
sales analysis inventory storages analysis and production cost budgeted expenses and actual cost
analysis in this management system to mangers information with organisation and to provide
them with the basis to makes informed business decision making and control system.
A profession that involves in management decision making planning and performances
management system and providing financial report and control to assist management in the
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formulation all decision regarding strategies. Different types of management accounting system
to decision making regarding to the management system there are 3 types of management
accounting system cost accounting inventory management job costing system and pricing system
first one the cost accounting including system of costing in a framework used by firm to
estimates the cost of there product and there are profit to increase inventory valuation of the
product to analysis the cost control in the management in the cost accounting to cost allocation is
carried out based on either costing system including into the process cost and job costing cost.
Second one is the inventory cost to related the material and such the term stock and inventory are
often used in interchangeable up to da a job inputs in production process of production sold to
customers any sis job creation system involves the process of about the cost associated with
specific production or services job, it may require order to submit the cost information to a
customer contract to related by the job system.
There are certain basic types of a management accounting to requirement to fulfilling the
a business entity traditional management accounting is the in which method in their entity
structures mostly job ordering cost is utilization by company for same reports the techniques is
better utilisation resources some cost based. In this lean accounting system to balance to
accounting of system. The requirement of system is hoped to providing management with the
most accurate and reliable information. To mangers have ensure that the right system for their
business module is selection for implementation.
Evaluate the benefits of management accounting systems: Sollatak is the use of possible
performance of the company to increases various types of efficiency of the entity
1 increase efficiency of the company: management accounting system is the operate of the top
management accounting to increase in the effective of the performance operations to optimising
this indirectly motives of employee to better performance as a end of result rewards an the
efficiency of the company.
The decision making in financial statements : a manager accountant to create a specific
report to creates a detailed simpler interpretations to represents the all types of financial data for
the specific purpose to better achievements.
Cost transparency: the work of the management accounting in the firm to work with the IT
department closely(Ward 2012). The action ensure that the budget actions to any sis to the
provides of the company.
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Flexible and freedom:The management accounting system ids the flexible nature of the
organisation to nature of dynamic to change the policy any change of accountant prepare a report
of the freedom based.
Management accounting system includes the following:
 Cost accounting system: This accounting system is used by firms to estimate cost of its
different operations. This is done by manager to predict profitability, inventory valuation
and to control the cost.
 Job costing system: Number of jobs are performed in an enterprise, cost of each job is
different from the other. Manager calculates or identifies cost related with each job.
 Batch costing system: Under this manager calculates the cost with each batch of
production. Direct and indirect all cost are calumniated in this.
 Inventory management system: Inventory management system means maintain an
optimum level of inventory at any time. If firm maintain an over stock that it will rise the
cost of storage and maintenance, on the other hand in case of under stock enterprise will
fail to meet the demands of customers. It is very important for every enterprise to
maintain an optimum level of inventory.
 Price optimisation system: This accounting system helps firms in set an optimum price
for its products and services. Price of product should be that it helps in generating
maximum profit and provide value for services to customers.
P2& D1 Evaluate the different methods of management accounting system
There are various types of method which are use of Sollatek. Which is used by the
management accounting system. To use of method solving various techniques related issues are
coving into the report first one is management information system: the management information
system is the information is essential for the effective function of business (Hiebl,2014.). The
management of the system in which all employee of organisation can asses the information for
used for dis charging their duties and taking quality.
 Statistical techniques:The techniques used in removing all accounting based problems
and any sis to the methods of least can asses regression and budgeting related issues are
coving into the methods to useful of the.
 Management reporting: management reporting is the report on basis of the contents of
profits and loss accounts and balance sheet are related information are coving into the
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submit for the top management. The prepare report are including all strength and
weakness indifferent financial activity.
 Historical cost accounting: in the method to analysis to the cost performances of
predetermined cost using in this method to analysis to the various cost related issues are
coving to achieving best cost past year relates.
 Financial planning: the financial planning is the objectives to any business organisation to
maximization of profit to achieving to all related to the financial information to related
down the financial benefits to specific objectives to covering into the best tools for
achieving objectives.
 Financial statements analysis: The financial statements is the analysis of the profit and
loss account and balance sheet important role playing in the management
accounting(Hopwood and Unermanand Fries2010.). The type of financial management is
the used of the business growth and business concerns. To also analysis is the ratio and
statements to comparative report.
 Ratio analysis: Ratio analysis is the the basically management of the forecasting and
planning coordination communication and control to over the management functions(P.
Tuckerand D. Lowe 2014.). It is the important simple process to controlling to all
operations of the management and undertaking by the appraisal of both physical and
monetary. Basically to ratio analysis to the decision making to regarding a operation
management.
Different methods of management accounting report:
 Sales report: Sales report is a record of keeping all products or services sold during a
specific time period. It is done by management to know about changes happen in sales by
comparing it from last year sales. Enterprises do many efforts to increase the sale of
company product.
 Account receivable report: This report of enterprise tell manager or business owner about
the process of collecting loan from debtors. Managers try to make this process more
effective to timely collects all loans from its debtors.
 Performance reports: This report provide information to manager about performance of
all employees and department of organisation. After that manager take remedial actiions
to improve the performance, if required.
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 Inventory management report: This report show or give information to manager about
current inventory level. This helps manager in keeping stock in right quantity to meet the
demands of customers.
 job cost reports: To identify cost and profit relate with each job manager use these
reports. This report helps manager in knowing the most profitable jobs of firm and help
him in eliminating the non profitable jobs from organisation.
D1 Evaluate how management accounting systems and management accounting reporting is
integrated within organisational processes
Management accounting is the process of collecting and evaluating information poes and
substantial and interesting challenges of largesses organisation .there are more important
conceptual issues ton about to information aggregates information in order to measurements
services customers of the organisations for a specific times of periods to raise question of
substantial which there are often no clear answers(JalaludinSulaiman and Nazli Nik
Ahmad2011). The techniques for planning and controlling decision makings in the selected
manufacturings businesses of study of the area .the result of the management accounting
adoptions to various importance of managements accounting techniques of impact of the
economic parameter in is adoption and its effect as a planning and controlling making tools and
techniques are use of the to various types of the to descriptive study of the management of the
accounting system to manner of system(Cuganesan Dunfordand Palmer,2012). Including into the
way of management accountants can guides of organisation toward sustainable business success:
to identify the environment social trends of the ability to creates valve over times
to businesses challenges to the company to identify the business model and to create to the
outlook and licences of operates(Cuganesa Dunfordand and Palmer 2012). Explain the impact of
these various types strategies top including into the way of the affects to the business
environment. Development to the strategies to improve integrates issues to ensure relevant
financial and non financial information to the dis closed the reporting the creates to the investing
and appraisal and strategy planing. To apply the management of accounting tools and techniques
such as natural of resources availability life cycle costing and sustainability matters into the
decision makings
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TASK 2
P3, M2 & D2 Income statements as per marginal and absorption costing
Absorption costing;
Absorption costing is a management accounting cost of method of expensing all costs
associated with the manufactures a particular product and and services is required of the specific
method to including all labour cost and manicuring cost and direct cost including raw material
used in the production a product and all overheads cost to all utility cost are including. The direct
cost is the producing goods as the cost base. A direct cost is the method of costs with a process
and appointing them to individual product .To create the individual inventory valuation is an
entity of balance sheet. there are three principal of distribution the products uses basic, survey
basic, ability to pay.
Income statement on the basis of Absorption costing method:
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
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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
Fixed selling expenditure
Over absorption
Net Profit
0
11200
(1600)
600
700
600
(100)
21000
(9600)
11400
(1800)
9600
Income statement on the basis of Marginal costing method:
Working 1: Calculate variable production cost £
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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
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
Management accounting reports include the following:
 Job cost report: Different type of jobs are undertaken in an enterprise and some specific
amount or cost is related with each job. Under this manager of enterprise evaluate cost
related with each job and tries to eliminate those jobs who are unprofitable for enterprise.
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 Account receivable reports: This report tell manager about its debt collecting system and
if necessary delays are taken in collecting period than manager takes the remedial action.
 Sales report: This report tells manager about the sales achieved by the firm in specific
period of time. Managers take or do necessary improvements to increase sales of the
company.
 Inventory management report: This report help manager in maintain an optimum level of
inventory every time to meet the specific requirements of large number of customers.
TASK 3
P4 Different types of planning tools used for budgetary control
 Financial budget:Financial budget is one of the most important budget or tool used for
planning in the enterprise. Financial budget is the budget which tells the enterprise about
all the sources of its income other than this also tells the operations on which these
income will be spend. The income sources of a firm includes sale of the products,income
received from selling of shares and of selling of fixed assets. Financial budget of a
company includes balance sheet,capital expenditure budget and the cash budget.
Advantages of financial budgets
 Financial awareness: Financial budget helps the enterprise more aware about its
expenditure and about the sources of its income. Financial reports helps the organisation
in getting the knowledge about how much revenue the business is generating every year
by selling of its goods and services other than this tells also what are the main and
important sources of the income foe the business(Sharma, Lawrence and Lowe 2010).
The financial budget tells about the company currents liabilities and assets. It makes the
firm to know about that the financial standing of a company is positive or negative. It
tells the company about the current financial position also guides the manager of the
company further to make the other important decision.
 Business opportunities: One of the main advantage of having financial budget that it
helps the enterprise in making full use or advantage of a opportunity and expand the
business at large.
 Communication tool: By making a monthly budget it will help the enterprise in making
annual budget with more efficiently. Annual reports are overall information about all the
revenues and expenses of the enterprise which not only help the business owner in
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making useful decision but also the investors in making the decision in taking investment
decision(Håkansson Krausand Lind 2010.).
 Financial planning : Financial reports provide the true picture about the company current
financial position this information further help the business owner in doing financial
planning.
Disadvantages of financial budgets
 Time required: the one of the most drawback of financial budget that it takes a lot of time
in preparing the budget(Wu, Jboateng 2010.). A lot of management time get wasted in
making a financial budget. A lot of time and skills needs to make the financial budget of
the enterprise. Sometimes it become difficult for the management to make the financial
budget for the enterprise according to its requirements.
 Rigidity: The other main drawback of making a budget is that once the budget is made by
the management than it become difficult to make any changes in it. Once the
management of the enterprise allot the fund to every activity of the enterprise than it
becomes difficult to change the amount fund allotted to that activity.
 Considers financial outcomes only:The financial budget first allocate the amount to be
spend on every task and after that evaluate only the financial outcomes of the task and
does not give any importance about the quality of the project and all(Bennett
Schaltegger, and Zvezdov, 2013). What revenue is created from the activity is given
focus not the quality of the output. The output is get measured in the monetary terms only
which is one of the main drawback of this budget.
 Operating budget: Operating budget is one of the another tool of planning the budgetary
control system. It is the budget which is made by the management of the enterprise for all
the operations of the budget. Like the project budget,expense budget or sales
budget(Englundand Gerdin2011). Operating budget decides the amount to be allocated to
every operation of the enterprise and also keeps try to minimise the expenses of the
operations of the firm. It helps in achieving the efficiency in the operations of the
enterprise with minimum cost.
 Advantage of operating budget
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One of the main advantage of making budget for all the activities of the enterprise the
operation management than try to achieve the task on that allocated amount and tries to reduce
the amount of each operation. Operation budget tries to achieve the task with the minimum cast
by achieving the quality standards.
 Disadvantage of operating budget:
The drawback of making a operation budget is that once the fund is allocated to the
operation than it can't be changed. There is an existence of rigidity in the operation budget once
the fund is decided by the managers than it can be changed or it becomes difficult to make any
changes in that.
M3 Analyse over the utilisation of various planning tools of management accounting system
Financial budget helps the management of the enterprise in various ways. Like with the
help of financial budget the company Sollatek can make various important decisions relating to
the business like how much to expend and invest on every activity of the enterprise. What
amount of fund business owner requires to expand the business in a way to achieve competitive
advantage. Other than it the financial budget makes the organisation inform about what is the
more profitable activity of the enterprise and what are the jobs having low margin of profit this
information will help the managers in focusing on that activity producing large amount of profit
for the enterprise(Wu, Jboateng 2010.). Sollatek can make the full use of information provided
by the financial report and then use it to allocate the resources according to the objectives of the
enterprise. Other than financial budget the operating budget helps the enterprise in various ways
to achieve the organisation's objects.
The operation budget provide useful information and help the management in deciding
the fund allocated to every operation of the enterprise other than this it helps the management in
providing that amount of money to the enterprise that by which the tasks can be better achieved
by the employees on the same hand with full of quality and with minimum cost. Operating
budget helps the enterprise in not wasting the financial resources of the enterprise at the same
time doing all the tasks with minimum cost. Financial and operating both budgets can help the
Sollatek in achieving efficiency in all the operations of the enterprise and at the same time it
helps in making important decisions like investment and expanding decision.
The management of sollateck can better use the information available through the
financial and operating budget and can achieve the competitive advantage in the market by
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timely grasp the opportunity and can increase its market share. The financial and operating both
budget help the enterprise in providing useful information and than the management can better
use the information in decision making process and can take better decisions for the enterprise.
The financial budget of the enterprise help the manager of the enterprise in making effective
financial decisions. The objectives can be better achieved by the management after using
management accounting system. Management accounting helps the enterprise in allocating the
funds to all departments of the enterprise in a way maximum efficiency can be achieved by all
the operations of the enterprise.
D3 &M4 Analyse how, in responding to financial problems, management accounting can lead
organisations to sustainable success
In the reference to Sollatek it can be said that the company can achieve sustainable
success and growth by using the concept of management accounting in a better way.
Management accounting helps the manager providing various information relating to the all
activities of the enterprise than then apply the information in making decision in the enterprise .
oManagement accounting provide all the relevant important information about all the
departments of the enterprise and this can help the manager in knowing that if there is any
problem existing in the business operations if any problem is fond than that problem can be
removed by the manger in order to achieving the efficiency in all the operations of the enterprise.
In an organisation many problems can there in the enterprise financial system and these
problems can be better removed by the help of management accounting(Tuckend Parke 2014).
Management accounting help the enterprise in collecting all the relevant informations
relating to the financial system and if any problem comes in the management eye than is can be
better solved by the management. Management accounting system involves various techniques
like budgeting, cost accounting and many more all these provide useful information to the
manager of the enterprise and than manager can better utilise the information by making
important decision relating to the firm which will indirectly or directly help the enterprise in
achieving development or sustainable development. So in this way management accounting
helps the business managers in achieving sustainable development. The managers of Sollatek can
also achieve the sustainable growth in the current competitive environment by using
management accounting(Bennett, Schaltegger, and Zvezdov, 2013). All the important decisions
of the enterprise can be better taken by the manger of the enterprise by using management
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accounting. Better utilisation of available financial resources can be done by using management
accounting system. It helps the entity in achieving good and better results and at the same time
helps the firm achieving its goals and objectives in a better way. Maximum profit with minimum
cost objective can be achieved with help of management accounting.
TASK 4
P5 compare how management accounting methods are utilized by organisations to respond
towards financial issues
Management accounting methods helps the enterprise in collecting useful informations
relating to the various departments of the enterprise and helps the manger in solving all the issues
of the enterprise. Financial issues or problems can be better solved by the managers by using the
information collecting with the management accounting system (Bennett Schalteggerand
Zvezdov 2013). The firms which use the management accounting system can solve the financial
issues better when a comparison is made of it with the other enterprise. Any loss or big change
when occur in the enterprise can be quickly solve by the enterprise. A comparison of another
company with the Sollatek is given under which also use the management accounting for its
operations:
Sollatek Agmet
 Uses the management accounting
system to control the expenditures in
present and on future operations.
 The input which are not giving positive
results to the enterprise can be
eliminated to save the cost.
 Sollatek uses the management
accounting system to remove any
hurdle in the financial system of the
enterprise.
 Agmat also uses the management
accounting for deciding the investment
and expenditure decisions.
 Agmet uses the same management
accounting system for taking useful
decisions or optimally using the
available funds.
 Agmet uses the management
accounting system in making good
decisions relating to the enterprise.
Management accounting system includes the following:
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 Benchmarking: It is a performance management tool used by managers to increase the
skills of employees. Under this actual performance of employees are compared with set
standard performance and remedial actions are taken, if required.
 Budgetary targets or control: This includes efforts done by manager to control expenses
occurred on business operations. This is one of the effective tool of management
accounting system.
 Key performance indicators: this is an effective management tool used to evaluate the
performance of organisation and its employees. This tool helps in increasing performance
of employees for achieving objectives and goals of the firm.
CONCLUSION
From the above mention facts and figures it can be ascertained that management
accounting technique can ascertain an entity to accomplish the predetermined goals and
objectives. In the above mention report various techniques like budgeting & forecasting,
marginal costing and absorption costing techniques having used from which the management of
Sollatek can frame various strategies in order to achieve the targets. In above mention report net
profit has been calculated through using absorption and marginal costing. From the analysis of
income statement have been prepared from these two different techniques it can be ascertained
that there is difference in the profit figure which is because of concepts which are followed by
these two techniques. As in absorption costing overheads have been over absorbed by £200 and
in marginal costing there is no concept of under and over absorption of overheads. Rather than
this it calculates contribution by reducing variable cost out of total sales.
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