logo

Solution Of Management Accounting Assignment

   

Added on  2020-10-05

19 Pages4513 Words84 Views
 | 
 | 
 | 
Management Accounting
Solution Of Management Accounting Assignment_1

Solution Of Management Accounting Assignment_2

Solution Of Management Accounting Assignment_3

INTRODUCTIONManagement accounting is a technique of identifying the financial position of companythrough preparing financial statements such as Profit & Loss a/c, Balance sheet, Cash flowstatement etc. This will enable management of an organisation to make decision and plans forfuture sustainability and profitability. Management is liable to translate financial data intovaluable information which further help in making an effective and profitable decision for anorganisation. Due to this, the management are able to bring company ahead than their rivals. The present assignment is based on Sollatek Ltd. company which deals in providingelectric and electronic equipments with an objective of power control and voltage protection. Theproject describe the different types of management accounting system and their essential need inan organisation so as to bring efficiency in their performance. Along with this, types ofmanagement accounting reports are also discussed under this project. There are mainly two typesof costing methods which are also briefly described under this report with a calculation of netprofitability of company. Apart from this, there are several aspects as well which are brieflyexplained under this report in the context of Sollatek Ltd (Agyemang and Broadbent, 2015).TASK 1P1:Definitions of Management Accounting:According to the Institute of Management Accountants (IMA): Management is such aprofession which includes decision-making process, implementation of policies, preparation ofaccounting reports etc. to facilitate an organisation to achieve sustainability and profitability.According to the Institute of Certified Management Accountants (CMA), managementaccounting with the help of using specialised skills and knowledge help in preparing financialreports in order to stable financial position of company in competitive market.Meaning: Management accounting refers to the provision of financial data which helpmanager to bring useful information for the purpose of formulating an effective plans andpolicies in order to achieve competitive advantage in market.Difference between management and financial accounting:BasisManagement accountingManagement accountingMeaningIt is such a profession whichSuch account ting mainly1
Solution Of Management Accounting Assignment_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Management Accounting : Sollatek (UK)
|17
|4322
|247

Management Accounting: Systems, Methods, and Tools
|13
|4075
|60

Various Management Accounting Systems and Its Benefits to An Organisation
|15
|5060
|186

Management Accounting: Systems, Reporting, and Cost Analysis
|13
|3994
|42

Management Accounting Assignment | The Imperial Crown Jewels Ltd
|16
|4573
|26

Accounting Management | Assignment
|16
|4573
|29