(MA ) Management Accounting Assignment

MANAGEMENT
ACCOUNTING (part 1)

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Management accounting systems.....................................................................................3
1.2 Various methods used for management accounting reporting:........................................4
1.3 Benefits of management accounting systems:.................................................................6
1.4 Critically evaluate how MA system and MA reporting reporting:...................................7
CONCLUSION................................................................................................................................8
REFERENCES .............................................................................................................................10
.......................................................................................................................................................10

INTRODUCTION
Management accounting is the best effective tool which can be used by the organisation
in order to gain the sustainability. As by taking help of the management accounting systems,
company could lower the cost of the product in an effective manner. The management
accountant uses various types of management accounting systems and also various management
reports so that the company could gain the competitive advantages in an effective manner. This
report contains the accounting systems which would further helping for incorporating the reports
for their concerned department (Chaney, Faccio and Parsley, 2011). Various management
accounting reports are made in order to lower the cost in an effective manner. This can be lead to
make management accounting system in order to lower the costs in an effective manner.
TASK 1
1.1 Management accounting systems
There are certain accounting tools which are used for making their business strategies in
an effective manner. These certain tools can be used by the organisation in order to gain the core
competencies in an effective manner.
Management accounting system is the procedure which is used in the organisation for
identifying, assessing and interpreting the financial and non-financial performance in an effective
manner. By implementing this, cited company can implement their business in an effective
manner so that the objectives of the business can gain an advance strategy in an effective
manner. Here, there are certain management accounting systems are mentioned hereunder:
Cost Accounting system: This is the costing system which is used by the organisation in
order to lower the cost in an effective manner. However, this can be said that business objectives
can be attained by using the cost accounting system as this will lead to gain the profitability in an
effective manner. Although, this can be said that the manufacturing business could gain the
competitive advantages over the rivals.
Inventory management systems: This is the system which is used by the organisation
for optimising the available resources in an organisation (Granlund, 2011). This is the most
effective tool which is used by the UCK group. Inventory management is the tool which is used
by the organisation in order to assist the organisation for lowering the cost in an effective