Management Accounting and Its Types Assignment (Doc)
Added on -2020-07-22
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MANAGEMENTACCOUNTING
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Management accounting and its types:.................................................................................1M1 Benefits of management systems under the cited company context:...................................2D1. How MA system and MA reporting integrates within the firm process:.............................2P2. Various methods used for management accounting reporting:.............................................3P3 Calculation of net profits under marginal and absorption costing:........................................4M2 Application of techniques:....................................................................................................7D2. Interpretation of data:...........................................................................................................8TASK 3............................................................................................................................................8Budget and its advantages and disadvantages.............................................................................8Advantages: ..............................................................................................................................10D3 How financial tools are used for evaluating financial problems:........................................11TASK 4..........................................................................................................................................12P5 How management accounting tools are used by the firm for responding financial problems:...................................................................................................................................................12M4 How management accounting can lead to attain sustainable development:.......................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15
INTRODUCTIONManagement accounting is the crucial tool which are used in order to make their businessdecisions effective. These are the practices which are used by the management so that the theycould attain their pre-set objectives. Under this project research, Unilever plc having theirmanufacturing units and it considers management accounting tools for lowering their productscosts. This will also provides sustainability so that their objectives can attain. Unilever plc needsto make their business operations so effective so that competitive advantages can be attained bylowering the costs of the product (Zimmerman and Yahya-Zadeh, 2011). Under this researchreport, company will use various management accounting practices in their manufacturingoperations for lowering the product costs and with the help of this, company will take thecompetitive advantages over the rivals. Under this research report, company will framemanagement accounting reporting for making the decisions in an efficient manner. There are somany business accounting tools which are used in order to get the business objectives effective. TASK 1P1. Management accounting and its types:Management accounting is the procedure which is used in the firm for analysing firmcosts to make internal financial report, records and assist the managers to frame businessdecisions effective and efficient in order to attain its pre set objectives. On the other way, this isthe act of framing sense of financial and costing data and converting those data and convertingthat data into fruitful information for management and officers within the firm. There are variousmanagement accounting systems which are used by the firms in order to make certain changes.Cost accounting system: Under this system, management of the Unilever plc adopt costaccounting system so that there pre-set objectives can be attained. This accounting system isused by the firm in order to lower their operational expenses and also control them effectively.This cost accounting is suitable for the manufacturing sector companies which main object are toproduce something in a effective price so that optimum profits can be gained (Ward, 2012). Thisaccounting system does not only considers various costs related matters but also make certainassumptions on the basis of these resources. Which will be helpful for making business strategiesso effective. 1
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