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Explanation of Management Accounting Information Used by Merlin Plc

   

Added on  2023-03-29

18 Pages1087 Words243 ViewsType: 243
Finance
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FINANCE AND
FUNDING
TASK 2
Explanation of Management Accounting Information Used by Merlin Plc_1

2.1 Explanation of various kinds of
management accounting information which
used by Merlin Plc
In the firm several kinds of systems and information are
required to use as well as implement which support to make
effectual business decision.
In regard to this, management accounting is one of the highly
used system which includes different information. Further, such
information of respective accounting are described as below:
Explanation of Management Accounting Information Used by Merlin Plc_2

Financial statements
It is the tool in which information about the company in
terms of profit, expenses, liquidity etc. are included.
Generally three financial accounts used by the Merlin
Entertainment Plc which are such as profit and loss (P&L),
cash flow as well as balance sheet.
With the help of P&L account management of the firm
supportive in order to analyse its profitability situation along
with the expenses.
Further, by considering cash flow and balance sheet cited
business can assess its liquidity and cash position respectively
at the end of year.
Explanation of Management Accounting Information Used by Merlin Plc_3

Budgets
It is the technique of management accounting under
which data and information of the next year are to be
estimated at the current times.
Budget of the Merlin Plc are made with the help of
taking base to the past financial performance.
Those data of entity which forecasted through budget
are like sales, cash position, incomes, expenses,
production, material cost etc.
Explanation of Management Accounting Information Used by Merlin Plc_4

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