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Management Accounting Assignment | Business Operations

   

Added on  2020-06-05

16 Pages4443 Words24 Views
Management Accounting

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analysing the essential requirements of the management accounting system..................1P2 Determining and evaluating the various reporting techniques of the managementaccounting...............................................................................................................................4TASK 2............................................................................................................................................6P3 Calculations or measurements for Marginal and Absorption costing income statements6TASK 3............................................................................................................................................8P4 Evaluating the kinds of Budgetary tools and their pros and cons as well.........................8TASK 4..........................................................................................................................................11P5 Adoption of the management accounting system to overcome the financial obstacles..11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONTo develop the operational strength of the business as well as communicating the variousfinancial problems within premises there is need to adopt the management accounting systems.In the present assessment there will be discussion based on the various accounting tools andtechniques which in turn helpful for the professionals of Berry-house Hotel to make mostappropriate decision. Thus, such decision making will be helpful for the managers in terms ofmaking budgets, planning costs ad techniques to produce the income statement which will bebased on Marginal and Absorption costs. The report will also shed some lights over the variousmethods to over come any financial obstacles in the organisation as well as improve theoperational ability of business.TASK 1To: General Manager(Berry-House Hotel)From: Management accounting officerSubject: Require writing a report to General Manager in Berry House HotelIntroduction:In accordance with improving the internal efficiency of the organisation to meet thefinancial stability there is need to implement various management accounting techniques. Thesetechniques will be beneficial for Berry house hotel in terms with analysing internal efficiencyand ability to met the expenses and to improve the areas of weaknesses. Therefore, with thehelp of such tools and techniques the business become efficient to meet all the financialrequirements.P1 Analysing the essential requirements of the management accounting systemThere will be essential requirements of implementing the various managementaccounting techniques in the daily operations of business. Thus, the need to include suchmethods will be beneficial for the managers in terms of making the adequate decision in relationwith evaluating the operational aspect of firm (Goddard and Simm, 2017). This tools will behelpful for manager in terms of planning, budgets, estimating the costs as well as developing the1

strategic plans for enhancing industrial performance. However, here are some managementaccounting tools which are need to implement by professionals in Berry House hotel such as:Drawing 1: Managementaccounting systemCost accounting:This management accounting technique will be helpful in terms of making the adequateassumptions as well as presenting the favourable funds for al the departments in the organisation.There will be various costs such as Fixed Costs, Variable costs, Direct or Indirect costs which inturn required for business to analyse the various expenses incurred during the assessments period(Hopper and Bui, 2016).Fixed Cost: These are the expenses which remain constants and fixed for the long period.However, such costs does not change as according to the variable costs (Aouni, McGillis andAbdulkarim, 2017). These costs do not depend over the level of operations Berry House Hotelhave but it will be fruitful for the business in ciphertext with making the adequate payments forfix expenses such as salary, rent, telephone bills etc.Variable Cost: These are the costs which frequently changes as per the variations in thelevel of outputs produced by business. However, such costs can be relevant with themanufacturing costs, purchase and sales costs which varies as per the requirements in theorganisation (Bathurst and Schwartz, 2017). In the festive season or time of any national events2Cost AccountingBatch CostingPrice optimisationInventory managementJob costing

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