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(Doc) Management Accounting Assignment - Solution

   

Added on  2020-10-22

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MANAGEMENTACCOUNTING
(Doc) Management Accounting Assignment - Solution_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4Task 1...............................................................................................................................................4A. Explain the management accounting and give the essential requirements of the differenttypes of management accounting system ...................................................................................4B. Providing the different types of management accounting report used by the OVATIONSYSTEMS...................................................................................................................................5C. Assessing the benefits of the different types of management accounting systems ...............6D. How management accounting system and management accounting reporting is integratedin an organization. ......................................................................................................................8Task 2...............................................................................................................................................9A. Explain the absorption costing and marginal costing methods .............................................9B.1 Solve the following problem with marginal and absorption costing methods.....................9B.2 . With the use of break even analysis solve the following question...................................10C . Apply the range of management accounting techniques and produce appropriate financialreporting documents accurately................................................................................................11D. Produce financial reports that accurately apply and interpret the data for the businessactivities shown in the scenarios in Task 2 above.....................................................................12Task 3.............................................................................................................................................12A. Explain the advantage and disadvantages for different types of planning tools..................12B. Show the application of the planning tools for preparing, forecasting and analysingbudgets. ....................................................................................................................................14C. Compare how the organization is different in adopting management accounting systemwith responds with the financial problems...............................................................................14D. Analyse how your management accounting techniques could respond to financial problemsand lead the organization to sustainable success.......................................................................16E. Evaluate how planning tools could be used to solve financial problems and lead theorganization to sustainable success...........................................................................................16Planning tools helps in identifying the social and environment trends which can providescompanies' ability to create value over time. ...........................................................................16
(Doc) Management Accounting Assignment - Solution_2
CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................18
(Doc) Management Accounting Assignment - Solution_3
INTRODUCTIONTo solve the financial and managerial issues in the organization there are lots of tools andtechniques management accounting have. Management accounting plays an important role in theto achieve the organizational goals. The present report will provide the meaning of managementaccounting and the essential requirements of the management accounting system and theirimplement in business accounting. The report will also depict the uses of marginal andabsorption costing and importance of break-even analysis in an organization to find out thefinancial health of the organization apart from that this assignment will provide benefit and usesof different planning tools with their benefits and drawbacks. Task 1A. Explain the management accounting and give the essential requirements of the different typesof management accounting system Management accounting is process of identifying, interpreting, analyzing andcommunicating all the financial information in the shadow of the OVATIONS SYSTEMS goals.In between financial and management accounting there lies only one basic difference I.e theinformation provided by management accounting aims at assisting the managers in decisionmaking, while in the financial accounting targets at providing information to the outsiders whichare related with organization (Ax and Greve, 2017). Managers of the organization requires thefinancial information and accurate statistical data day by day to interpret day to day short rundecision. Management needs report which is contained by the management accounting. Accounting is the process of finding, measuring, and communication profitable data topermit the decision and judgments by the users accordingly American accounting association. Management accounting system help in varying their application (Cooper, Ezzamel and Qu,2017). Inside the organization various departments are there and each are fashioned to providethe information which the management needs for assessing the decision. Managementaccounting is consisted of the various system which are discussed under -Cost accounting system To do the valuation of inventory, profitability analysis and cost control for theapproximate cost of product OVATION SYSTEM applied the framework named costing systemor cost accounting system. In this system of accounting the allocation of cost is done by themanagers with the help of activity based costing or traditional costing system. Approaching the
(Doc) Management Accounting Assignment - Solution_4

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