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MANAGEMENT ACCOUNTING TABLE OF CONTENTS INTRODUCTION

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Added on  2020-10-04

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Management accounting systems in order to respond financial problems 6 M4 7 CONCLUSION 7 REFERENCES 8 INTRODUCTION Management Accounting is a tool which is used by the firm in order to make sustainable development. Management accounting and its essential requirement of its diverse types of systems Management accounting is the process by which its comprises various decisions, making plans and performance management systems and determining the actual cost of the company. This is an important report which is used in order to identify customers who are willing to pay for

MANAGEMENT ACCOUNTING TABLE OF CONTENTS INTRODUCTION

   Added on 2020-10-04

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MANAGEMENT ACCOUNTING TABLE OF CONTENTS INTRODUCTION_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Management accounting and its essential requirement of its diverse types of systems...1M1...........................................................................................................................................2P2. Explaining diverse methods used for management accounting reporting........................2D1...........................................................................................................................................3TASK 2............................................................................................................................................3P3. Net profit as per absorption and marginal costing approach............................................3M3 & D1.................................................................................................................................4TASK 3............................................................................................................................................4P4. Explain advantages and disadvantages of diverse kind of planning tools implemented usedfor budgetary control..............................................................................................................4M3...........................................................................................................................................5D3...........................................................................................................................................5TASK 4............................................................................................................................................6P5. Management accounting systems in order to respond financial problems.......................6M4...........................................................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
MANAGEMENT ACCOUNTING TABLE OF CONTENTS INTRODUCTION_2
INTRODUCTIONManagement Accounting is a tool which is used by the firm in order to make sustainabledevelopment. However management accountant helps the company for making their businessobjectives attainable. In this report, the management accountant uses their available resources inan optimum manner. So that the sustainable development can be achieved. This report is basedon the Dell company. Under which the cited company would use their resources in an effectivemanner. Management accountant in Dell Company optimises their net profits by usingabsorption and marginal costing approach. Various advantages and drawbacks of the planningtools are used by the MA for budgetary tools.TASK 1P1. Management accounting and its essential requirement of its diverse types of systemsManagement accounting is the process by which its comprises various decisions, makingplans and performance management systems and rendering expertness in financial reporting andcontrolling. In other words, this can be said that this is the process of incorporating managementreport for the firm which renders adequate financial and statistical information needed by themanagers to incorporate regular and short term decisions. However, financial accounting is theprocess which records, classified and summarised financial transactions as per the generallyaccepted principles of accounting (Advanced Management Accounting,2017).Financial Accounting records cash and credit transactions of organisations as per thenature of expenses and income so that financial statements can be made and that would furtherhelp various stakeholders for making their business decisions effective and efficient. This is thereason, management accounting provides data for internal use. While, on the other hand, infinancial accounting, this provides data for the external users. FA incorporates adequate andtimely data. While on the other hand, MA stresses on the relevancy and flexibility of data.The main users of management accounting reports are internal employees of company.While, on the other hand, users of the financial accounting reporting are mainly outsiders.Cost Accounting System: This is the cost accounting system which totally relied upontotal cost of production. Management accountant by using this system reduces cost ofproduction by avoiding wastage of cost. This is mostly used by the firm which hasmanufacturing units.1
MANAGEMENT ACCOUNTING TABLE OF CONTENTS INTRODUCTION_3

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