Management Accounting Functions - PDF
Added on 2020-10-23
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ManagementAccounting
Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1PART A.......................................................................................................................................1PART B........................................................................................................................................5ACTIVITY 2....................................................................................................................................8PART A.......................................................................................................................................8PART B......................................................................................................................................12CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONManagement accounting is the analysis of business activities and functions which furtherhelps the management to take effective decision in order to achieve their organisational goals &objectives. It is also called managerial accounting where manager use the various provisions tocontrol their functions (Arroyo, 2012). Basically it is used for the internal analysis wheremanager of the company take important decision on the basis of their available financialinformation. AP Diving company choose for the better understanding of this concept. AP Divingis scuba equipment manufacturing company established in 1969 and it's headquarter in Cornwall,England. This report include the various topics such as understanding of management accountingsystems, it's essential requirement, management accounting reporting and use different methodsto calculate cost and prepare income statement. In addition, it also include the manageaccounting techniques for the planning and control the internal functions. Along with this, howorganisation used these techniques to solve their financial problems.ACTIVITY 1PART AManagement accounting: It is also called managerial or cost accounting which analysethe cost of business and prepare the financial report on the basis of internal operations. It includethe recording and reporting which further helps the manager to take important decision on thebasis of financial reports. Management accounting help the manager to build strategic plans andit's implementation will help to achieve their business goals & objectives. With the help of thisaccounting, AP Diving Ltd manage their operations which helps in decision making process.Management accounting system and it's essential requirement:It include the various system which help the business to organize, measure or evaluate theprocess. With the help of financial accounting information, manager take effective decision inrespect of the organisation to achieve their business goals & objectives. Their are some ofmanagement accounting system which is followed by the AP Diving company for the effectiveor efficient performance (Ball, 2013). Inventory Management System: It is software of system which help the organisation tomanagement their inventory level for the purpose of sale, order raw material and for the delivery.1
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