Management Accounting of Zylla Company : Assignment

Added on - Nov 2020

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MANAGEMENT
ACCOUNTING
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1. Management accounting and essential requirements of different management accounting
systems........................................................................................................................................4
P2. Different methods of management accounting reporting.....................................................6
TASK 2............................................................................................................................................9
P3 Calculation of cost by using marginal costing and absorption costing..................................9
TASK 3...........................................................................................................................................11
P4. Benefits and limitation of using planning tools..................................................................11
TASK 4..........................................................................................................................................14
P5. Various measures to resolve financial problems.................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES............................................................................................................16
From:Management Accounting
To:Director of Finance
Subject:Management Accounting data and information is that which is helpful for the company
in making decision and strategy.
INTRODUCTION
Management Accounting is such which is being made and prepared with the use of statistical
data for having a better decision and strategy as well(Schaltegger and Burritt, 2017). This is all
such which is used by the directors and top executives of company to have a day to day
transaction in right context for having an managerial transactions in right context too. Therefore,
the entity is also having an technology which is being used by firm to provide solution to
organization for having an revamping business in better way too. Basically, dividing the finance
in divisions help in having an minimising the reductions of the wastages in right context too. The
report is based on the Zylla Company which serve millions of people with there diversified
products and services in better way.
Assignment will discuss about, management accounting system which is required in firm.
Moreover, they are such which will include the method of management accounting. Advantages
and disadvantage of planning tools which is being considered as the budgetary control and leads
to have an accounting system in with problem occur with finance department which can be
solved in proper way too.
TASK 1
P1 Management Accounting system and its components.
Management Accounting:This concept is such which help in having a preparation of P&L
Account, Balance sheet and the Cash Flow statement etc. is there even this is something which
needs to be prepared by helping other method of accounting in better way too. Basically,
preparing these account in right format can help company to have working in right context and
different activities of firms as well. Moreover, these type of scenario somewhere help to Zylla
enterprise which leads to collect the information in right format and it is related with the position
in market as well. Although this can help in better strategies and decision which is having an
proper working in correct way(Fullerton, Kennedy and Widener, 2014). Even though, it provide
data related to the sales, cash and raw materials as well etc. in proper manner too. Such scenario
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make an financial and non-financial data that manipulate the day to day task and activities in
right format. Normally, they also used to revamp the performance, budget and also leads with
position in market which do help them to enhance their business or can go with expanding the
market. Hence, this also help in different areas as:
Strategic management:This is such which also include strategy and having different
factors which is having an various functions in right context as well. Moreover, financial
and non-financial information is there which do lead to have an preparation of the several
budget scenario and also lead to have an standard for analysing the problems which do
arise in between working out of it in right manner.
Risk management:Even though, information which iscollected from market thus help
company to determine the different risk criteria that is somewhere also associated with different
functions of organisation too(Renz and Herman, 2016).Example:-Inventory management is
such which do help in having an analysing the stock in great way that also help in having an
continuous resources too, generally it has to be performed according to needs and desires as well
and even in the production part too.
Performance management:Generally, having an information also lead to having an
contribution that also lead to appraise the performances of employees inn right manner
and also lead to attain the solution in perfect way as well. Moreover it also leads to have
an developing skills with abilities as well for having an different task and various
functions too.
Basically, management accounting system is such which needs to be prepared by Zylla for
having an effective working for entity and some of those as well:
Managerial Accounting:Hence, several thing are there in which managers are making
effective decision and it is be related with the various activities in right context too. Basically, it
also produce the plan and control even leads with some of the major important decisions as well
that do make an improvement in operation department that also lead to have contribution with
desired outcome in right manner.
Cost accounting system:Generally, it is such which help in controlling the different cost which
do occur at the time of having an performance with different functions as well. It is such that
help in having an determination of profitability, inventory valuation etc. therefore, it is required
to have such in right context and it leads to have an effective working so that system can be used
and utilised in proper manner(Otley, 2016).
Job costing:Methods are such of accounting and they also have an identification of cost
which needs to have an incur that also lead to have an generation of jobs in organization and it
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