logo

Management Accounting (Unit 5) Assignment

   

Added on  2021-06-30

15 Pages4292 Words39 Views
(J-A 2021) RQFBM-MA060205303.2021Submission Front SheetProgrammeBTEC Higher National Diploma (HND) in Business (RQF)Unit Title and Number:Management Accounting (Unit 5)Assignment title Management Accounting Assignment Brief Unit RQF level/CodeLevel 4H/508/0489 Module Tutor Name/Email Dr Ayodele Alukoa.aluko@mrcollege.ac.ukCredit Value 15Assignment Brief Code (J-A 2021) RQFBM-MA0602053Cohort NameSept 20BAssignment Date Set 5th Jan 2021Student’s Name BiancaAndreeaPresicareanuStudent’sRegistrationNumber25467Submission Date 04.03.2021Distribution Date 18/01/21Is this a firstsubmission Is this a referralsubmission Word Count 3338Learner’s statement of authenticityI certify that the work submitted for this assignment is my own. Where the work of others hasbeen used to support my work then credit has been acknowledged.I have identified andacknowledged all sources used in this assignment and have referenced according to theHarvard referencing system. I have read and understood the Plagiarism and Collusion sectionprovided with the assignment brief and understood the consequences of plagiarising.Student’s Signature PresicareanuDate 04.03.20211Presicareanu 25467

(J-A 2021) RQFBM-MA060205303.2021Table of ContentsIntroduction..............................................................................................................................4 Demonstrate an understanding of management accounting systems.................................4Explain management accounting and give the essential requirements of different types ofmanagement accounting systems...........................................................................................4 Explain different methods used for management accounting reporting...............................5 Evaluate the benefits of management accounting systems and their application within anorganisational context............................................................................................................5 Apply a range of management accounting techniques........................................................6 Calculate costs using appropriate techniques of cost analysis to prepare an incomestatement using marginal and absorption costs......................................................................6Marginal costing technique................................................................................................6Absorption costing technique.............................................................................................6Reconciliation statement....................................................................................................7Interpretation of the income statements.............................................................................8Accurately apply a range of management accounting techniques and produce appropriatefinancial reporting documents................................................................................................8Marginal costing method....................................................................................................8Absorption costing method................................................................................................8Explain the use of planning tools used in management accounting....................................9 Explain the advantages and disadvantages of different types of planning tools used forbudgetary control...................................................................................................................9Traditional budget..............................................................................................................9Activity based budget.........................................................................................................9Zero based budget............................................................................................................10Rolling budget..................................................................................................................102Presicareanu 25467

(J-A 2021) RQFBM-MA060205303.2021 Analyse the use of different planning tools and their application for preparing andforecasting budgets...............................................................................................................10Compare ways in which organisations could use management accounting to respond tofinancial problems..................................................................................................................10 Compare how organisations are adapting management accounting systems to respond tofinancial problems................................................................................................................10Cost accounting................................................................................................................11Pricing strategy.................................................................................................................11Budgetary control.............................................................................................................11 Analyse how, in responding to financial problems, management accounting can leadorganisations to sustainable success.....................................................................................11Financial governance.......................................................................................................12Key performance indicator...............................................................................................12Benchmark system...........................................................................................................12Conclusion................................................................................................................................13Reference..................................................................................................................................143Presicareanu 25467

(J-A 2021) RQFBM-MA060205303.2021IntroductionIn the business organisation, making play a significant role as to contribute in the growth anddevelopment planning of the business. For the business organisation the use of different toolsand techniques for preparation of the different strategies to execute in the market is asignificant part as the wrong choice of tools and technique can create significant impact onthe decision making of the business. As a result, the growth and development of the businessorganisation will also be hampered. For the financial decision making, the financial managerand the management of the business organisation uses financial management. This is why,along with the financial management the use of management accounting is important for thebusiness organisation to maintain the confidentiality of the preparation of strategies andplanning as well as to improve the efficiency level of the decision making system of thebusiness. In this report, the discussion regarding the management accounting has beenconducted to evaluate the integration of the management accounting system withorganisational processes. Also how the business organisation response to solve differingfinancial problems of the business by the tools and techniques of management accounting andachieve the sustainable success has been mentioned in the report.Demonstrate an understanding of management accounting systemsManagement accounting system (MAS) is engaged with the process of collection, analysisand interpretation of both financial and non-financial data which are instrumental for themanagers to undertake important strategic decisions. A manufacturing company uses MAS toevaluate the profitable cost of production as well as to fix the prices of its products andservices by analysing the performance of the company in the past along with the performanceof its competitors in the market. MAS prepares reports in accordance with the needs of themanagement 4Presicareanu 25467

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Benefits of Management Accounting Systems and their Application
|23
|5498
|410

Management Accounting and Accounting Systems
|25
|5615
|25

Sales Management Principles and Techniques: A Case Study of HSBC
|26
|6657
|316

Management Accounting: Costing Techniques and Planning Tools
|20
|4271
|61

Management Accounting - Aston chemicals Assignment PDF
|20
|5519
|52

Management Accounting: A Comprehensive Guide to Systems, Tools, and Applications
|17
|3879
|217