Management Accounting: Monthly Control Report and Amana's Performance in 2020

Management Accounting

Contents
INTRODUCTION.......................................................................................................................................3
TASK..........................................................................................................................................................3
Monthly control report.............................................................................................................................3
Amana’s performance during the year 2020............................................................................................5
Recommendations to areas for improvement...........................................................................................6
PART B.......................................................................................................................................................8
Provide an analysis of Mr. Amana’s decision to go online and advise to set up online business.............8
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11

INTRODUCTION
Management accounting is the demonstration of monetary information and process operations to
the company's inner management. Management accounting is used only by important core team,
and that's the only difference between it and financial accounting. During this procedure, finance
management shares credit statements and documents with the company's board of directors,
along with invoices and comparative balance statements (Ciuhureanu, 2018). This report based
on the Amana Ltd which is an established in England and sells souvenirs to tourists. The Covid-
19 pandemic recent times erupted in England, prompting the government to enact limitations on
motion and transport, significantly influencing the tourism sector. In this report consist of actual
and original budget calculation and present performance of company. Along with provide
appropriate recommendations for the appropriate improvement.
TASK
Monthly control report
A budget results report is a management report that measures a period's real revenues and
costs to the planned benefits and expenditures based on historical overall sales. In other terms,
it's a study that reveals the difference between real and planned business results. This report is
given by management at the close of a financial reporting cycle to see if there are any significant
variations in the projected budgeted figures announced at the start of the process and the real
closing figures. This is an important tool because it helps managers to assess which aspects of
the organization are achieving budget targets and which areas or divisions require change
(Moshchenko and et.al, 2018).
Particulars Cost per unit Original Flexed Actual Variances
Units 1,00,000 20000 80,000
Selling price 25 2,000,000
Revenues 2,000,000
Variable
costs: