Management Accounting and Different Management Accounting Systems

Management Accounting

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Management accounting and different type of management accounting system..................1
P2. Different methods of Management accounting reporting......................................................2
M1. Benefits and Application of different management accounting system...............................3
D1. Integration of management accounting reporting with Organisational process ..................3
TASK 2............................................................................................................................................4
P3. Covered in PPT .....................................................................................................................4
TASK 3............................................................................................................................................4
P4. Advantage and disadvantage of planning tool in budgetary control.....................................4
TASK 4 ...........................................................................................................................................5
P5 organisation is adopting different accounting system to solve financial problem..................5
M3. Analysation of management accounting tool in respond to financial problem for
organisation's sustainable success................................................................................................6
D3. Evaluation of planning tool to solve financial problem in organisation's success................7
CONCLUSION................................................................................................................................7
REFRENCES...................................................................................................................................8

INTRODUCTION
Management accounting include accounting information which is used by manager in
managerial decision making (Abernethy and Wallis, 2019). Marshall is one of leading company
in UK which is supplying superior natural stone and concrete landscaping products. It helps
company in improving performance and increase profitability. It helps manager in taking
business decisions and implement various changes. This report include management accounting
and requirement of different accounting system. It also include different managerial accounting
reporting, advantage and disadvantage of planning tool in budgetary control and comparison of
how organisation is adapting management accounting systems.
TASK 1
P1. Management accounting and different type of management accounting system
Management accounting refer to use of accounting information by manager in
management decision making (Alsharari and Youssef, 2017). Management accounting is
important of any organisation as it control business cash flow and increase efficiency. It also
helps in maximising business profit and helps in business decision making. Marshall is using
management accounting as it increase their business performance and financial position of
organisation. Management accounting include different management accounting system which
are as follows: Cost Accounting System: Cost accounting system refers to estimation of cost of overall
production including fixed cost as well as variable cost. In Marshall, manager are using
this system in estimating cost and decreasing cost of production. Essential requirement of
cost accounting system is in estimating cost, profit and helps in making business
decisions. Inventory Management System: Inventory management system refer to tracking of every
aspect of business from production to point of sales. Manager of Marshall is using this
system as it helps in tracing inventory and provide inventory on time. Essential
requirement of inventory management system is that it reducing wastage of inventory at
work place, decrease production of additional inventory and also decrease cost of
business.
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