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Management Accounting - Aston chemicals Assignment PDF

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Added on  2020-12-30

Management Accounting - Aston chemicals Assignment PDF

   Added on 2020-12-30

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MANAGEMENTACCOUNTING
Management Accounting - Aston chemicals Assignment PDF_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4TASK 1 ...........................................................................................................................................4Explaining management accounting and various benefits of management accounting. ............4Explaining the different types of management accounting reports ............................................6Benefits of management accounting systems and how they applied in the organization...........7Evaluating the integration of management accounting systems and management reportingsystems in an organization. ........................................................................................................8TASK 2 ...........................................................................................................................................8Explaining the absorption costing and marginal costing............................................................8Drawing a income statements with the help of marginal and absorption costing .....................9B. Computing the following problem with the help of break-even analysis. ..........................11Applying the range of techniques in producing the financial report. .......................................12Producing the financial report that accurately apply and interpret data for business activity..13TASK 3..........................................................................................................................................14A. Advantages and disadvantages of planning tools for budgetary control..............................14B. Application of the planning tools for preparing, forecasting and analysing budgets...........15C. Comparing the management accounting systems of Aston Chemicals and how it deals withthe financial problems...............................................................................................................16D. Analysing how Aston Chemical's management accounting techniques respond to financialproblems....................................................................................................................................16E. Evaluating how planning tools can be used to solve financial problems.............................17CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19
Management Accounting - Aston chemicals Assignment PDF_2
Index of TablesTable 1: benefits of management accounting..................................................................................8Table 2: income statement with Marginal costing.........................................................................10Table 3: income statement with Absorption costing......................................................................11Table 4: break even analysis .........................................................................................................12
Management Accounting - Aston chemicals Assignment PDF_3
INTRODUCTIONManagement accounting plays an important role in business organization. It is a type ofaccounting which helps manager in decision making. Decision making is process which takesplace in every organization. Aston chemicals was formed in 1990. It provides raw materials to European personal careindustries. The present assignment is based on management accounting. Present assignment willexplain meaning of management accounting and also provide essential requirements of differenttypes of management accounting systems and their benefits. Report will also present differenttype of management accounting reports and their importance in Aston Chemicals. Thisassignment will also provide deep insight of integration of management accounting system andmanagement reporting. Report will also depict information about marginal and absorptioncosting techniques of accounting with their income statements. The advantages anddisadvantages of different planning tools for budgetary control will be covered in report. Later, itwill provide techniques of management accounting with respect to responding financialproblems. TASK 1 Explaining management accounting and various benefits of management accounting. Management accounting is a profession that consisted of combination of financial andnon-financial statements which gives useful information to management for managers to take aneffective decision making. It plays a very significant role in giving information to workersworking inside organization. It has very wide scope as it gathers and retrieve all information thatis related to particular organization. It includes process of preparation of managerial reports accounts helping to renderaccurate and well-timed financial and statistical data that is essential for managers to makeimportant judgments in business organization. Unlike financial accounting, MA givesinformation in the format of report on weakly basis to managers of departments and CEO. Different types of management accounting systems are discussed under. Cost accounting systems This system of accounting is also known as product costing and costing systems. This atechnique which management of Aston Chemicals used for estimating the cost of their productsfor valuing their inventory, analyzing profit and to control cost. Sometimes it becomes difficult
Management Accounting - Aston chemicals Assignment PDF_4

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