Management Accounting Information: Types and Uses

FINANCE AND
FUNDING
TASK 2

P2.1 management accounting information its
types and uses
Management accounting information can help the Merlin entertainment in smooth running of its business by
providing necessary information to the management. Basically management accounting information is a
management tool that involves costing, budgeting and accounting tools.
• Management accounting information provides information according to the each kind of industry.
• This helps the management in controlling the cost and making decisions.
• Costing and budgeting techniques will help Merlin Entertainment in identifying their actual cost.
• Accounting tools will help the management in determining the profitability of merlin entertainment.

Financial statements
• Management accounting facilitates information regarding the
income statement, statement of financial position and growth
of the company.
• Statement of income provides the information regarding
overall expenses and overall incomes of the company.
• Financial statements includes statement of cash flow that
provides information about inflow and outflow of cash from
the organisation.
• .

Forecasting
• On the basis of past year performances, current year results are forecasted
by the management well in advance.
• It attempts to predict the future outcomes and results on the basis of events
that have occurred in past and with the insight of management.
• Forecasting will help Merlin entertainment in planning the future events,
budgeting the resources along with the estimation of future growth.
• It involves application of Mathematical, scientific and statistical techniques
to get more reliable results than the forecasting through personal
observation and using of ordinary tools.