Management Accounting and Costing Techniques

This document provides an introduction to management accounting and its importance in decision-making. It discusses different management accounting systems and their essential requirements. It also explores various costing techniques used to calculate costs. The document highlights the advantages of management accounting systems and their integration within an organization. The subject is Management and the course code is Accounting.

Management
Accounting

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Definition of management accounting and several systems with essential requirements.1
P2 Discuss various types of management accounting methods.............................................3
M1 Advantages of management accounting system with application...................................4
D1 Analysis the way in which report and system of management accounting are integrated
within organisation procedure................................................................................................4
TASK 2............................................................................................................................................5
P3 Apply different costing technique to calculate cost..........................................................5
M2 Application of range of management accounting techniques within the organisation. .10
D2 Interpretation of data for range of business activities.....................................................11
TASK 3..........................................................................................................................................11
P4 Discussion of budgetary control and planning tools that are used in it with their advantages
and disadvantages.................................................................................................................11
M3 Utilization of planning tools for producing and estimating budgets..............................15
TASK 4..........................................................................................................................................15
P5 Comparison between two organisation to respond financial challenges through
management accounting system...........................................................................................15
M4 Determine the way in which financial problem sort out by management accountant to lead
towards sustainable success..................................................................................................17
D3 Apply planning tools to respond financial issue that faced by the organisation............17
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................19

INTRODUCTION
In today's business environment, the area of management accounting plays an essential
role in every organizations in order to take important decision. It helps to increase profit and
create wealth for the company (Alsharari and Youssef, 2017). Every business wants to know
about their performance so they track all the procedure to collect information that goes beyond
just the cost based information. Management accounting is a way of determining the
performance of the company and produce reports by the directors. Through these reports present
actual performance of the business in front of internal stakeholders like managers, staff
members, board of directors etc. Without management report company does not estimate the
performance and become complex for company to present business growth in the market due to
lack of internal details. To better understand of the report selected organisation Alpha limited
which is a medium sized manufacturing company. The company has been situated in UK and
dealing into Pizzas. In this assignment discuss on various topics such as different management
accounting systems and reports. Along with calculate the profit through costing method and
apply all the planning tools to estimate the future performance. Additionally, to sort out the
financial problem apply the system of management accounting as well as tool.
TASK 1
P1 Definition of management accounting and several systems with essential requirements
Management Accounting is part of internal system that present financial information to
management through financial reports and accounts. It is also known as cost accounting and
managerial accounting to assistance of the process of choice making, develop of policy and day
to day activities of a company. In the context of the Alpha Ltd manager can apply all the systems
of management accounting to formulate the different business activities.
Difference between management accounting and financial accounting
Basis Management accounting Financial accounting
Purpose It is prepared by accountant for
decision making procedure.
It is produced to present position and
financial information to external
people.
Regulation No internal use and has not For external use and regulated by law.
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external regulations.
Time period Historical and forward looking. Mainly an historical record
There are discussing various types of systems such as:
Inventory management system: This method mainly applied in the manufacturing
company to track the record of the material at each level. Through this system know that in
which level how much material required and keep all the records effectively (Calabrese and
Ward, 2018). In the context of the Alpha Limited mainly concentrate on the utilisation of
material availability regarding to pizzas. The one of the major requirement that facilitate the
management to main the lower and higher level of stock for effectively formulate the business
operations. There are discussed several kind of this system such as: First in first out (FIFO): According to this methods firstly sell out the particular product
that purchase first by the company. Last in last out (LIFO): In this method those items sell out that purchase in the last and
enter in the company.
 Average cost (AVCO): To sell out the products in the market calculate average amount
and cost for productive activities.
As per the above discussion it is analysed that Alpha limited apply the FIFO method
because food ingredients are wastages if are not using on right time (Cleary and Quinn, 2016).
Price optimization system: This system mainly applied by the organisation to set
effective price structure regarding to products that selling out by the organisation. As a result it
helps to know perception of customer regarding to products then according to it apply all the
modification. This system utilise by the Alpha limited to decide the price of the pizza. The
essential requirement that through this system achieve all the goals and objectives in certain
period of time.
Job order costing system: In present time mostly organisation perform different
activities as per the job role. There are consisting of selling, promotions, advertising and
marketing. These activities can plays essential role to present business activities at the market.
The manager of the Alpha Limited apply this system to assure that they have sufficient funds to
conduct all the operational activities.
2

Cost accounting system: To formulate the different business activities suitably so for
this necessary to have detailed information regarding to costs. It helps in decision making
procedure in respect to future development. The manager of the Alpha limited apply this system
to calculate cost of producing pizzas.
P2 Discuss various types of management accounting methods
Management Report: This report provide different aspects of the business performance
so that manager can make better informed decisions. They collect various key performance
indicators of different departments to know the worth of business over a specific time by
disclosing its financial and operational information (Englund and Gerdin, 2016). This reporting
helps manager to make sound business decision to improve its operating efficiency and to see
how company is working to remain competitive in the market. Similarly, Alpha limited use this
reporting system to evaluated its operating activities and focus on different segments of the
business to enhance its performance as compared to the respected market.
Performance report: This form of report prepared to review the performance of the
different departments as well as of its employees to see how work is performed in the
organisation and which areas need to improve its productivity. Likewise, Alpha limited prepared
such reports to evolutes the performance of its different departments and of its employees to see
any improvement is required in their performance to match with the pre-determine standards.
Performance reports generates the actual performance of various employees to see their
commitment for the assisted work to them (Englund and Gerdin, 2018).
Accounts Receivable report: This report is used for managing cash flow of the business,
through this report information in relation to how much credit is given to its customer by
maintaining invoices that are for 30 days late, 60 days late, or more. It also provide the
companies collections process to overlook the old debts and if the customer fails to pay then
companies need to tighten its credit policies. Similarly Alpha limited prepared this report to
calculate the collection process period from its customer so that there is lesser change of bad
debts. This also provide how company maintain its cash flow for the various departments to
operates efficiently.
Budget report: This reports provide the performance of companies as a whole or as a
departments wise to see the productivity for the particular period. Through this a list of sources
of earning and expenditure for the companies is prepared. Similarly, Alpha limited prepare such
3

reports to achieve it goals and mission while staying within the budgeted amount. This report
gives performance of its product and services which are provide to the targetted market. This
report generates list of all sources of earning and expenditure for the companies. Requirements
of goods and services required to a particular level of production is mentioned in the project
report.
Inventory management report: This reports provide that how much cost is included into
manufacturing of goods such as labour and overhead expense. It provide raw material to ready
to use stage in the companies. Likewise Alpha limited maintain such inventory management
reports to see how much cost is required to be incurred so that a particular product can be
produced. It also provide the requirement of product in the market by its inventory turnover
period in the companies. This report gives overall cost incurred in its production such as
material, labour and overhead costs so that management team can decided its price accordantly.
M1 Advantages of management accounting system with application
In any organisation apply different types of management accounting system that is
applied by the Alpha Ltd to formulate all the operational activities in proper manner. There are
defined different benefits of this system with their application such as: Inventory management system: It is used by the Alpha Limited to know level of stock at
every place where keep the raw material and in which stage required more material to
product the finished goods. It is applying to know right status of the stock and their
related problems (Feng and Ho, 2016). Price optimization system: The management of the Alpha limited wants to set accurate
price for pizzas that helps top attract customer regarding to products and fulfil all the
demands on time. So it is advantageous to increase profit and wealth of the business. Job order costing system: In respect to calculate the allotment of accurate funds in case
of specific job and applied by the supervisor of Alpha limited within organisation.
 Cost accounting system: In order to achieve all the detailed information about the
product require to know reason of all the expenditure and taking place due to perform
different business activities.
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D1 Analysis the way in which report and system of management accounting are integrated
within organisation procedure
In any organisation use several types of management accounting system as well as
reports to analysis all the information in detail. Through inventory management system and
reports assure about the business have enough amount to conduct different activities. The
performance report produce by the company to analysis the actual situation of the organisation.
The job order costing system to analysis the specific cost regarding to particular product.
TASK 2
P3 Apply different costing technique to calculate cost
Marginal Costing: It is a kind of costing method that utilised regrading to particular
organisation as per the evaluate extra cost of those units has been produced after special demand
of the client. In Alpha limited to determine the extra cost of pizzas required to apply particular
method (Herremans and Nazari 2016).
Absorption Costing: It is a part of cost accounting method which is used by the
organisation to capturing all costs that related with producing a specific item. To calculate net
profit by this method required to consist of fixed and variable costs. It means there are including
all the direct and indirect cost to compute the inventory price. In the context of Alpha Limited to
apply this method to analysis the price of Pizza manufacturing (Hertati and Sumantri, 2016).
(I) Income statement under absorption and marginal costing:
Absorption Costing Statement calculator
Unit Selling Price 8
Unit Cost (FC+VC) 5
Fixed Manufac Expenses 150
Non Manufacturing Exp 50
Budgeted Activity 75
Period 04/19 05/19 06/19 07/19 08/19 09/19
5

[£'000] [£'000]
[£'000
]
[£'000
]
[£'000
]
[£'000
]
Sales 75 60 90 75 70 80
Production 75 75 75 75 85 70
Opening inventory
Closing inventory 0 0 15 0 0 15
0 15 0 0 15 5
Period 04/19 05/19 06/19 07/19 08/19 09/19
[£'000] [£'000]
[£'000
]
[£'000
]
[£'000
]
[£'000
]
Sales 600 480 720 600 560 640
Opening inventory 0 0 75 0 0 75
Add: Variable Cost[Prod.] 375 375 375 375 425 350
Less: Closing Inventory 0 75 0 0 75 25
Marginal Cost of Sales 375 300 450 375 350 400
Gross Profit 225 180 270 225 210 240
Adjustment for Overheads 0 0 0 0 -20 10
Less:Non Manufac Cost 50 50 50 50 50 50
Net Profits 175 130 220 175 180 180
Marginal Costing Statement calculator
Unit Selling Price 8
Unit Variable Cost 3
6

Fixed Manufac Expenses 150
Non Manufacturing Exp 50
Budgeted Activity 75
Period 04/19 05/19 06/19 07/19 08/19 09/19
[£'000] [£'000]
[£'000
]
[£'000
]
[£'000
]
[£'000
]
Sales 75 60 90 75 70 80
Production 75 75 75 75 85 70
Opening inventory
Closing inventory 0 0 15 0 0 15
0 15 0 0 15 5
Period 04/19 05/19 06/19 07/19 08/19 09/19
[£'000] [£'000]
[£'000
]
[£'000
]
[£'000
]
[£'000
]
Sales 600 480 720 600 560 640
Opening inventory 0 0 45 0 0 45
Add: Variable Cost[Prodn.] 225 225 225 225 255 210
Less: Closing Inventory 0 45 0 0 45 15
Marginal Cost of Sales 225 180 270 225 210 240
Contribution Margin 375 300 450 375 350 400
Less: Fixed Manufac Cost 150 150 150 150 150 150
Less:Non Manufac Cost 50 50 50 50 50 50
Net Profits 175 100 250 175 150 200
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Reconciliation statements:
Period 04/19 05/19 06/19 07/19 08/19 09/19
[£'000 ]
[£'000
]
[£'00
0 ]
[£'00
0 ]
[£'000
] [£'000 ]
Sales 75 60 90 75 70 80
Production 75 75 75 75 75 75
Opening inventory 0 0 15 0 0 15
Closing inventory 0 15 0 0 15 5
Period 04/19 05/19 06/19 07/19 08/19 09/19
[£'000 ]
[£'000
]
[£'00
0 ]
[£'00
0 ]
[£'000
] [£'000 ]
Net Profits under Absorption Costing 175 130 220 175 180 180
ADD : Fixed Overheads in opening 0 0 30 0 0 30
LESS: Fixed Overheads in closing 0 30 0 0 30 10
Net Profits under Marginal Costing 175 100 250 175 150 200
Problem 2a
1. Calculation of followings:
(A) BEP in units and revenues-
BEP (in units)= Fixed cost / contribution per unit
= 180000/ 12
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= 15000 units
BEP (in revenues)= Fixed cost/ PV ratio
= 180000/ 30*100
= £600000
Working Note:
Contribution per unit- Selling price per unit- variable cost per unit
= 40-28
= 12
PV ratio= Contribution/ sales per unit*100
= 12/40*100
= 30%
(B) Contribution margin ratio
= 12/40*100
= 30%
2b If machine is installed:
After installation of the new machine
Contribution Margin Per Unit = 40-14 = 26 Per unit
Break even point in units =
(180000+236000)/
26
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Ans. 16000
Break even point in Pounds = 40x16000
Ans. 640000
P/V Ratio = (Contribution Margin per unit/ Sales Price per
unit)*100 65
BEP from P/V Ratio 640000
2 c
Scenario 1. Machine is not installed:
Without installation
Sales £5,40,000.00
(-) variable cost -£3,78,000.00
Contribution £1,62,000.00
(-) Fixed cost -£1,80,000.00
BEP -£18,000.00
Current
Sales £6,00,000.00
(-) variable cost -£4,20,000.00
Contribution £1,80,000.00
(-) Fixed cost -£1,80,000.00
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BEP £0.00
The calculation are showing that if machine will not be installed then it may result in
losses of 18000 pounds.
Scenario 2. If machine is installed:
After installation
Sales £8,00,000.00
(-) variable cost -£2,80,000.00
Contribution £5,20,000.00
(-) Fixed cost -£4,16,000.00
Profit £1,04,000.00
Installed
Sales £6,40,000.00
(-) variable cost -£2,24,000.00
Contribution £4,16,000.00
(-) Fixed cost -£4,16,000.00
BEP £0.00
The calculation are showing that the company should install the machine as it will result
in profits of 104000 pounds.
M2 Application of range of management accounting techniques within the organisation
There are discussing different types of cost techniques which is applied by the Alpha Ltd.
All of them are as follows:
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Standard Costing: This technique apply by the organisation to control over all cost
effectively. Through this technique determine the reason of differences between standards as
well as actual expenditure (Kieso, Weygandt and Warfield, 2019).
Historical Costing: It will direct to manager of the Alpha Ltd to record all the
transactions with cost to transact in the accounting books rather then recording them as per the
market price.
D2 Interpretation of data for range of business activities
To calculate the net profit of the company apply the method of marginal costing in the
end of the financial year and it will be 200000 while absorption costing will be applied to
calculate about 600000. In the prior years losses are recorded with the help of these methods that
means the organisation must use marginal costing method in order to calculate future activities
and ignore losses.
TASK 3
P4 Discussion of budgetary control and planning tools that are used in it with their advantages
and disadvantages
Budget is a document that prepare by the organisation for long time objectives and
applied as per the present situation of the business. The main reason to make in the business to
predict future income and expenses to control business activities according to it. The budget
prepare by the experts after analysis all the departments and collected specific information to
predict expenses and income (Kihn and Näsi, 2017). During to analysis it is get it company have
not enough funds then it may impact on the efficiency and present all the tasks effectively. The
Alpha Limited can different budgets that link with the different departments to get future growth
and opportunities. On the basis of these budgets a manager can take effective decision and fulfil
all the requirements on certain period of time. It supports to bring out all the operations
effectively to assure about the actual revenues and expenses which is linked with the financial
plan that procedure known as the budgetary control. There are discussed different types of
planning tools of budgetary control such as:
Operation budgetary control: This is a budgetary control tool which is applied by the
most of the organisation to smoothly run their business activities and execute all the operations
smoothly. The manger of the Alpha Ltd are observing different planning tool to assure about the
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operational activity for the effective performance. In this tool consist of different elements such
as:  Forecasting: In this procedure predicting the future expenditure that may take place and
influencing operational performance of the business. To increase profits in future apply
this method in Alpha Ltd and evaluate the costs and events to reduce all additional cost
effectively (Kumarasiri and Gunasekarage, 2017). Variance Analysis: The particular procedure use by the company to know difference
between actual and budgeted cost of the company. The main reason to apply this method
in the Alpha Ltd to prepare effective strategies for the business to get higher profit in
upcoming period of time. The management figure out all the reasons that provide
outcomes in fluctuation in annual records. Standard Costing: The particular tool is utilised for plan budgets regarding to future
activities and arranged all the costs in proper manner to control business activities
according to this. Alpha Ltd is applied this method to assure about all the expenditure that
hamper the work in future so it is required to arrange at the work place.
 Flexible budget: To predict the future expenditure required to apply particular planning
tool to make all the adjustments in present year's record. In the context of the Alpha Ltd,
the manger can applying this method to evaluate right cost regarding to several activities
through modification in every year records (Maskell, Baggaley and Grasso, 2017).
Merit and demerit of operational budgetary control planning tool are as follows:
Advantages Disadvantages
These tools are helping to manager of Alpha
limited to predict all the future expenses in
appropriate manner.
For these planning tools require to face critical
procedure in order to execute of them
effectively.
These planning tools direct to apply changes in
the set records to calculate the actual cost and
evaluated effectively.
To calculate of the future expenses regarding to
Alpha Ltd require to receive all the accurate
information of all the transactions. Such as
according to that company spend money in
specific manner and provide all the suitable
training to the management.
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Capital budgeting tools: These tools apply by the company to analysis the proposed
fixed assets should be purchased which is known as capital budgeting. In the context of the
Alpha Ltd apply these tools in order to analysis potential major projects or investments. There
are discussing several techniques which is applied to take effective purchase decision. All the
discussion as follows: NPV (Net present value): It is defined as difference between net cash in flow and the
cash outflows in certain period of time. The Alpha Ltd apply this method to evaluate the
different projects to make further investments and able to return suitable amount or not. ARR (Average rate of return): According to this technique organisation evaluate the rate
of return that is offered in a project to make the investments. In Alpha Ltd use this
method to analysis particular project is provided suitable returns of not in certain period
of time. IRR (Internal rate of return): It is most important method of the capital budgeting that
utilised by the organisation to compute the interest rate where net present value of cash
inflows will convert in Zero. In case of Alpha Ltd apply this method to analysis the
project in which money is invested is attractive or not (Nørreklit, Raffnsøe-Møller and
Mitchell, 2016).
 Pay back period: It is part of capital budgeting which is focused on investment to repay
the amount that invested in a particular organisation. The manager of the Alpha Ltd apply
this method to assure about the specific project in which amount is invested and capable
to repay in set period of time or not.
There are discussing all the advantages and disadvantages of the capital budgeting planning tools
are as follows:
Advantages Disadvantages
For the investment purpose provide different
and best options to the business. It helps to
analysing all the options.
Most of the decision based on the predication
so there is 50-50% chances to get invested
amount with the interest rate.
Due to increase interest of the stakeholders in
particular business could be increased for
To analysing of this tool in Alpha limited
required to professional who have proper
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getting higher returns on their investments. knowledge but for this paid extra amount to
recruit them.
PEST analysis: It is a set framework which is applied by the organisation in order to
identify financial position and identify external factors that impact on the company position.
Political  Regulatory bodies and procedure
 Trading policies
Economical  Fluctuated economy impact on the performance
 Production cost as low as possible.
Social  Fast food trends
 Advertising and publicity
Technological  Competitive technology
 Manufacturing maturity and capacity
SWOT analysis: It is a strategic tool which is applied by the organisation to evaluate
internal activities and according to that prepare strategies for the Alpha Ltd.
Strength  Company have different selling proposition that attract to
people to visit at their store.
 Alpha Ltd have strong management to assembled a team
that embraces several disciplines with expertise in all area
of the business.
Weakness  Lack of capital: Company have not sufficient capital to
enhance the business activities at large level.
 Brand image: Alpha Ltd operate business activities at
short level and have not good brand image in the market
as compare other organisation.
Opportunity  Fast food trend: People invest money in fast food so it is
good opportunity to increase demand of the Pizzas.
 Provide customised services according to customer
15

requirements.
Threat  Higher level competition: Alpha Ltd face too much
competition at the UK market.
Balance score card: It is a strategic performance management tool which is used for the
purpose of measuring performance of staff members. With the help of it Alpha limited can
respond the financial problem and guide to evaluate their performance and provide them
appropriate compensation so that their productivity could be increased. It will help to enhance
the profits with higher engagement of staff.
M3 Utilization of planning tools for producing and estimating budgets
The management of the Alpha Ltd is applying different types of planning tools in order to
formulate all the business activities effectively. Different types of budget prepared by the
organisation to predict and estimate the position of the company in future. Alpha limited prepare
of the operational budgetary control to execute different activities by making them effectively
and apply all the modifications. The capital budgeting technique consist of NPV, IRR, ARR and
pay back period utilise to evolute the suitable project and predict the requirement.
TASK 4
P5 Comparison between two organisation to respond financial challenges through management
accounting system
In present time every organisation face different types of financial problem so for this
required to aware for the different financial activities that occur in the business. When company
is not able to set up funding for the operational activities so result get as financial issues. In the
context of the Alpha Ltd is facing many financial issues that happen in the business such as:
Errors in accounting records: The accountant of the business recorded all the
transaction in the accounting book on yearly basis but many time some items left. So it may
result in inadequate information about funding. Alpha Ltd is surviving this problem due to lack
of professional skills in accountant and have not proper knowledge about the transactions
recording in proper manner (Procházka, 2017).
Inadequate protection of assets: To operate the business activities use different types of
assets so for this require to protected safely. But company is not protected appropriately so as a
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result face problem of lack of funds for the organisation. Alpha Ltd face the particular problem
that affect to business activities.
KPI (Key performance indicators): It is a performance measurement tool that applied
by the most of the organisation in order to know actual performance of the business. KPIs
provide a tactical and organizational progress orientation that based on the objectives and help in
decision making. In the case of Alpha Ltd use this management tool to identify the problem of
inadequate protection of assets. KPI has been utilised in two manner financial and non financial.
Through Financial KPI evaluation the problem in detailed manner. Through particular tool the
manager analysis the reason of the problem than apply the appropriate solution.
Benchmarking: It is mainly applied by the business to get minimum expected results
through business activities. So there is applying comparison of our company with another
company regarding to policies to find errors. The accounting expertise analysis the strategy of
another company and highlight the mistakes which are made by them due to record the
transaction that linked with financial activities. The manager of the Alpha Ltd apply this tool to
identify the problem of errors in accounting records by comparing them with another company
but in same sector.
From the above tools apply in the company to identify the problem in Alpha Ltd and deal
with these problems through financial governance.
Financial Governance: It is ongoing procedure of the recording, observing and
gathering financial data as per the accounting concepts. This tool can analysis the performance
and observe all the records to control the exploitation of resources etc. It is applied by the Alpha
Ltd to provide the solution of particular problem like errors in accounting records and non
protected assets. It directs how to execute all the accounts ledger as per the accounting principles
(Quinn and et. Al, 2018).
Comparison of companies:
Basis Alpha Ltd Chicago Town
Cost accounting system This system applied by the
Alpha Ltd to deal with the
financial problem of errors in
accounting records to observe
detailed information of costs that
The manager of Alpha Ltd is
using this system in order to
tackle the problem of
Unforeseen expenses between
the accounting period. It
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is linked with the several
transactions done by the
organisation.
supports them to predict the
costs that may replace in future
and arranged fund to operate
with particular problem in
future.
Inventory management
system
The particular system mainly
applied by the manager to secure
all the assets that track the
record of inventory that utilise in
the business. When company
arrange all the inventory
activities properly so protect the
assets from getting exploited
without any necessities.
This organisation apply the
inventory management system
due to face the problem of lack
of stock in warehouse. So it
will create problem in
production activities and
impact on the profit
maximisation. So through this
system track the performance
of inventory at every level and
conduct operations smoothly.
M4 Determine the way in which financial problem sort out by management accountant to lead
towards sustainable success
The financial problem become major issue in the different organisation so for this require
to apply effective techniques to deal with these problems. In present time Alpha limited face two
financial problem such as inadequate protection of assets and errors in accounting records. To
identify the these problem apply the key performance indication and benchmarking. To sort out
the this problem apply the financial governance to get success and run for long time in the
manufacturing industry (Schaltegger, Burritt and Petersen, 2017).
D3 Apply planning tools to respond financial issue that faced by the organisation
To handle financial problem that occur in the business require to apply planning tools like
operational budgetary control and capital budgeting. Through these planning tools identify all
alternatives to tackle these financial challenges in advance and predict appropriate activities.
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These tools are working effectively and provide all appropriate solution in regard of financial
problems.
CONCLUSION
As per the above discussion it has been concluded that management accounting is
internal part that helps to set structure for the business. It is helpful for the organisation to
produce several types of reports and systems that provide all the detailed information to track the
actual performance of the business. The company has been used different methods like marginal
and absorption costing method to compute profit. Apply different types of planning tools like
capital budgeting and operational budgetary control in order to know predict future activities
through budget. Moreover, utilise of different system and management tool to tackle financial
problem that occur in the business like inadequate protection of assets and errors in accounting
records.
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