Management Accounting: Types, Methods, and Planning Tools

Management Accounting

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·TABLE OF CONTENT
TABLE OF CONTENT...............................................................................................................................2
INTRODUCTION.....................................................................................................................................3
PART 1...................................................................................................................................................4
Management accounting, essential requirements and different types of accounting systems.........4
Methods used for accounting reporting ...........................................................................................5
PART 2 ...................................................................................................................................................6
PART 3..................................................................................................................................................10
Advantages and disadvantages of different types of planning tools used for budgetary control.. .10
Comparison of two organisations are adapting management accounting systems to respond
financial problems...........................................................................................................................12
CONLUSION ........................................................................................................................................12
REFRENCES..........................................................................................................................................13

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·INTRODUCTION
Management accounting can be understood as provision of accounting information in
order to better inform business scenarios for gaining high functional financial structure.

Innocent drinks is company producing and distributing beverages, juices and smoothies
where operations are focused for generating stronger business understandings and also
widely focusing for potentially also heading new working goals. Report explains
management accounting aspects and new working aspects where businesses are focusing
widely ahead within new competitive paradigms (Fleischman, R. and McLean, 2020).
·PART 1
·Management accounting, essential requirements and different types of accounting systems
The management accounting can be understood as one of the most important aspect
where managers within company uses provisions of accounting information in order for
better financial information formation for better informing themselves , before they decide
matters within company business structure. Management accounting aids company
performance metrics for controlling wider effective paradigms where reports typically
consists of company production data and information pertaining to money usage and how
appraisals of various accounts payable, receivable activities and valuation of raw and in-
production inventory enables wide range of progress coming on among businesses. The
industry trends and forecasts are are also an important aspect of management accounting
where there are various paradigms working on among wide range of functional innovation,
leverage of stronger working synergy which will enable Innocent drinks to reach larger goals
within business avenues. There are 3 types of accounting systems highly important which can
be
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壱Stock Management: The inventory management can be understood as function of
understanding stock mix of company, with wide range of various demands on stock
where demands are influenced by external and internal factors. Stock and inventory
management propagates value and creation of stock purchase order, analyses supplies
at reasonable levels within business for gaining stronger business framework within
wider parameters (Cescon,Costantini and Grassetti, 2019).
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弐Price optimisation: This is the use of mathematical analysis by company for
determining how various customers are further responding to prices for products and
services, through various channels for various products and services through various
business scenario fundamentals. It is also used to determine prices that company