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Report on Management Operations of the 4Com Plc

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Added on  2020-06-05

Report on Management Operations of the 4Com Plc

   Added on 2020-06-05

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MANAGEMENTACCOUNTING
Report on Management Operations of the 4Com Plc_1
Table of ContentsFrom: Management account officer.................................................................................................1To: General Manager.......................................................................................................................1Subject: For improving the management operations of the 4com plc. ...........................................1INTRODUCTION...........................................................................................................................1P1.................................................................................................................................................1P2.................................................................................................................................................4M1...............................................................................................................................................5D1................................................................................................................................................5P3.................................................................................................................................................5M2...............................................................................................................................................7D2................................................................................................................................................7P4.................................................................................................................................................8M3...............................................................................................................................................9D3................................................................................................................................................9P5...............................................................................................................................................10M4.............................................................................................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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From: Management account officerTo: General ManagerSubject: For improving the management operations of the 4com plc. INTRODUCTIONManagement accounting used by the managers of company to collect accountinginformation and decisions are taken by them according to that. This helps the management ofcompany to improve the performance of company and control different functions. Managementaccounting is the provision used by company for financial and non-financial decision making.Management accounting is the main tool which is used by the firm in order to get sustainabledevelopment. with the help of management accounting tools, 4com plc can processed their inputin an effective manner. Under this report, diverse management accounting tools, and their reportsare used in order gain the competitive advantages over the rivals (Management Accounting,2017). Various budgetary tools are used under this and their uses for gaining firm’s pre-setobjectives. Although, various financial problems are addressed in an effective manner so that themanagement can overcome these problems by applying various management accounting tools.But, before going to implement MA tools, there is a need to know about their advantages andlimitations so that management account officer can take optimum benefits. P1Management accounting is the process which is used by each organization in order toattain its pre-set targets. However, for applying such tools, each company needs to appointskilled staff so that they could implement in an organization. This will provides the differenttypes of data to the mangers of company so, they can manage the different departments andemployees of company according to that. This helps the managers of company to improve theperformance of different departments by use effective methods and strategies which helps inoptimum utilisation of given resources (Jalaludin, Sulaiman and Nazli Nik Ahmad, 2011). Thishelps the manger of company to make the budgets for different departments according to their1
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needs and provides the resource as per actual requirement. Management accounting is theprocess of measuring, knowing, assessing and communicating finance related information in thepursuit of the firm’s objectives. This is also known as the cost accounting. The major difference between the management accounting and financial accounting isthat the information of MA is used in the firm for help managers in a firm so that they could takedecisions in an effective manner. While on the other hand, financial accounting information isrelevant to the diverse stakeholders who are directly or indirectly concerned to the firm’sperformance. The management accounting information helsp the manager and the top levelauthority to regulate the expenditures and able to optimize the firm performance. The process ofmaking management accounting reports are that this offers to the firm accurate and timelyinformation to the external parties and also satiate the needs of manager. There are so many toolsof management accounting few of them are discussed as follows:Cost accounting system: This is the system which is implemented by the firm to knowcost of its goods for stock valuation, profitability evaluation, and cost control. Under costaccounting system, allocation of cost is executed either on the basis of ABC system ortraditional costing approach. This is the costing system which determines the cost as perthe pre-set costing methods. By using this method, company can lower the costs byeliminating wastage of costs from the cost of production (Carenzo and Turolla, 2010).This can be said that the company can attain the pre-set targets in an effective manner byapplying this technique. This system would separately assess and record the costs andafter assessing the costs compare inputs results to the actual outcomes to supportmanagement of the firm. the managers are totally depends such costing data in commonand specific on cost as any task of the firm might be elaborated through its costs. This2
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