Assignment on (MA)Management Accounting

Added on - 06 Jun 2020

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Management accounting
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Various management accounting functions and its importance............................................1P2 Types of systems used in management accounting...............................................................2M1...............................................................................................................................................3D1................................................................................................................................................3TASK 2............................................................................................................................................4P3 Calculation and preparation of the statements of income......................................................4M2...............................................................................................................................................6D2................................................................................................................................................7TASK 3............................................................................................................................................7P4 Discussion of the merits and demerits in relation to the budgets..........................................7M3...............................................................................................................................................8D3................................................................................................................................................9TASK 4............................................................................................................................................9P5 Approach of balance scorecard..............................................................................................9M4...............................................................................................................................................9CONCLUSION.............................................................................................................................10REFERENCES..............................................................................................................................10
INTRODUCTIONIn the business there are various processes which will be required to be undertaken inorder to carry on the business in the effective manner and the combination of all of them will beknown as the management accounting (Bodie, 2013). In this report all of these aspects will bediscussed such as the systems which will be used and the manner of reporting by which the datawill be retained. Also the tools used to solve the problems will be explained. All of this will beundertaken in context of the Imda tech so that the operations in it can be conducted in the bestmanner.TASK 1P1 Various management accounting functions and its importance.In order to achieve the objectives of the business it will be required that the value shall beenhanced and that there will be the need to undertake various activities which will be coveredunder the scope of management accounting. The outcomes which will be received will be theresult of the manner in which the policies will be used by the company so it shall be ensured thatthey shall be complied by Imda tech in the best way possible.The operations of the business will be conducted in the better manner if the company willbe aware about all the aspects of the business and for that information will be required that willhave to be collected with the help of the various systems available. The another method whichcan be used by the company is the financial accounting which will be providing all theinformation that will be related to finance (Burritt, Schaltegger and Zvezdov, 2011). The majorvariations among them can be understood by the table provided here under:Management accountingFinancial accountingThis will be involving the processes in whichthe aspects of finance as well as non financialwill be considered.This will cover only those matter which will berelated to the financial issues.The main motive behind this is to provide themanagement of the company with theinformation so that they can carry on thedecision making process (Ward, 2012).In this the main focus is on providing data tothose who are not related to the business whichmeans the third parties.They will be made in any manner and for theIn them the format and the time period both are1
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