This document provides an overview of management accounting and the essential requirements of different types of management accounting systems. It also explains the different methods used in management accounting reports and calculates costs using appropriate techniques of cost analysis to prepare an income statement using marginal and absorption costs. Additionally, it discusses the advantages and disadvantages of planning tools used for budgetary control. The case study focuses on Creams Limited, a small business enterprise selling ice-creams, doughnuts, waffles, and other desserts in Greater London.