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Different Systems of Management Accounting Used by Merlin Entertainment Plc

   

Added on  2023-03-24

19 Pages1976 Words49 Views
FINANCE AND
FUNDING
TASK 2

2.1 Describing different systems of management
accounting (MA) which considered by Merlin
Entertainment Plc
Introduction
Management accounting is an approach considered by the firms where
financial plan is made along with monitoring and controlling.
The present task shows those systems of management accounting which
used by Merlin Entertainment Plc at its workplace. Apart from this,
proper explanation of such systems is also given in the current task.
Basic systems of MA used by MEP are like financial statements, budgets,
variance analysis and MIS.

CONTD....
Further, key purpose of MA considering this particular aspect in the
workplace is take an effective kind of internal business decisions.
The MA comprises with wide range of factors like budgeting,
planning, forecasting, analysing etc. and systems which are used by
the TTM firm. Moreover, such systems of MA adopted by Merlin
Entertainment Plc are explained below:

Financial statements
In the firm different types of financial statements prepared which
helps to know its level of performance in the industry.
Using the MA, some small reports are made by the accountants
which lead to make final accounts such as profit and loss, cash
flows, balance sheet etc (Groot and Selto, 2013).
The MEP firm adopted this system for tracking and analysing
profit and cash position at the end of an accounting period.
In addition to this, it used for framing strategies at the workplace
in order to meet desired objectives in proper time frame.
For example:

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