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Management Accounting - Jaguar Land Rover

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Added on  2020-10-22

Management Accounting - Jaguar Land Rover

   Added on 2020-10-22

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ManagementAccounting
Management Accounting - Jaguar Land Rover_1
Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1Part 1............................................................................................................................................1Part 2............................................................................................................................................6ACTIVITY 2....................................................................................................................................7Part 1............................................................................................................................................7Part 2..........................................................................................................................................11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
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INTRODUCTIONManagement accounting can be defined as the process of formulating and managingreports that are presented in front of internal stakeholders in order to provide them detailedinformation regarding organisation's performance. Under this procedure various activities areperformed such as managing, controlling, planning, analysing, evaluating and monitoringdifferent tasks that are executed by organisation (Ascui and Lovell, 2012). It helps managers toform strategies decisions for betterment of company. The business entity which is selected forthis report is Jaguar Land Rover which is British multinational engineering company of carsestablished in UK. It was founded in year 2008 by William Lyons and William Walmsley.Currently it is owned by an Indian company TATA motors. Its headquarter is in Whitley,Coventry, United Kingdom.Various topics are covered under this report such as understanding of managementaccounting systems and its reporting, application of a range of its techniques, use of planningtools that are used in budgetary control etc. Apart from this, the way in which it helps to dealwith financial problems is also discussed under this assignment.ACTIVITY 1Part 1Management accounting: It comprises of accounting and financial activities requiredfor the operation of business. Presenting information about sales, cost, budgets to the internalstakeholders is the main function of this activity as this helps managers in effective decisionmaking. It also includes preparation of reports based on the past trends so that futureuncertainties can be dealt and growth of the business is ensured. Adopting this method isimportant to determine the position of the organisation (Boučková, 2015).Management accounting systems: These are the methods that are being used by themanagers in evaluating the various aspects of business. Different accounting systems are beingincorporated by the jaguar land rover for the smooth running of operation. Essential informationcan be gathered through this methods which are useful for analysing those areas of businesswhere decisions needed to be taken. Such systems are discussed below:Inventory management system- These are concerned with analysing the inventory levelof business. It keeps track of stocks and articles that are used in the production of goods, every1
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