Management Accounting- Airdri

Added on - Nov 2020

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Management Accounting
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ContentsINTRODUCTION...........................................................................................................................1TASK1.............................................................................................................................................1Demonstration .an understanding of management accounting system........................................1Different methods of management accounting reporting............................................................3TASK 2............................................................................................................................................4Apply a range of management accounting techniques................................................................4TASK 3............................................................................................................................................5Explain the use of planning tool in management accounting......................................................5TASK 4............................................................................................................................................6Comparison of companies with the use of different system to respond financial problems.......6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONManagerial accounting commonly also known as cost accounting is defined as theprocess of collecting, reporting, analysing important useful financial information within anorganisation by responsible manager (Kolk and Perego, 2015). It help the entire managementsystem and support to make meaningful decision in order to remove any kind of contingencesand improve the overall performance within a specific period of time. In this report, Airdri hasbeen selected that deal in manufacturing of designer hand dryer so that concept of managementaccounting can be understood in significant manner.The report discussed the different system and important reports of managementaccounting, types of costing techniques to calculate net profit for an accounting year. Apart thisreport describes types of planning tool and adaptation of management accounting system inreposed to various financial issues.TASK1Demonstration .an understanding of management accounting system.In present business situation, the practice of gathering, examining, recording and writingvaluable financial transaction and happing into closing account and financial statement by themanager within an organisation is defined as the management accounting.It is consider being adisciplined method of recording and preserving advantageous evidence about companies’ entireperformance in a year to make effective decision for future growth (Mahesha and Akash, 2013).There are different systems that are used by manager of an organisation to make a properanalysis and measurement of resources so that actual status can be obtained within a type frameand meaningful decisions are made for growth and development.The concept of management accounting first appeared as an essential movement during theinitial industrial rebellion, in the foremost businesses and also for business firms of the day. Withthe flow of time the system keeps on modifying and double-entry bookkeeping taken more than 300years from the time MA first appeared as a identifiable ground. The different principles ofManagement accounting are:InfluenceRelevanceValue1
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