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Management Accounting Assignment(MA)

   

Added on  2020-06-06

17 Pages4695 Words51 Views
ManagementAccounting

Table of ContentsFROM: MANAGEMENT ACCOUNTING OFFICER..................................................................1TO,...................................................................................................................................................1GENERAL MANAGER..................................................................................................................1ZYLLA COMPANY.......................................................................................................................1SUB: MANAGEMENT ACCOUNTING SYSTEM .....................................................................1INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Management accounting and essential requirements of its different accounting system.....1P2: Method of management account reporting...........................................................................3M1: Merits of using management accounting system.................................................................5D1: Critical evaluation of reporting system ...............................................................................5TASK 2............................................................................................................................................5P3: Various costing method using in management accounting..................................................6M2: Evaluation of accounting tools............................................................................................7D2: Critical evaluation of income statements.............................................................................8TASK 3............................................................................................................................................8P4. Advantages and Disadvantage of different type of planning tools used in budgetarycontrol.........................................................................................................................................8M3: Evaluation of planning techniques....................................................................................10D3: Critical analysis of financial problem................................................................................11TASK4...........................................................................................................................................11P5: Comparison with various company regarding its financial problem..................................11M4: Analysis of financial problem...........................................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

FROM: MANAGEMENT ACCOUNTING OFFICERTO,GENERAL MANAGERZYLLA COMPANYSUB: MANAGEMENT ACCOUNTING SYSTEM INTRODUCTIONManagement accounting plays an important role in controlling and monitoringaccounting records and information which help managers in making an effective decision andplans. Thus it is required in every organisation irrespective of the size whether small or large. Asevery organisation need to identify their actual financial position through which they cancompete with their rivals. Therefore management accounting provides them relevant financialrecords and statements which help them in forecasting the project activities in proper manner thatwill bring positive result to company (Albelda, 2011). The main purpose of this project reports is to provide the roles and importance ofmanagement accounting in achieving desired goals and objectives. The project covers differentcosting methods which help company in analysing the actual profitability of company.Budgetary control techniques are also explained under this project which help in resolvingfinancial issues of company and achieve profitability. It also covers management accountingsystem and reports which help in identifying the actual financial position of company. Companynamed “ Zylla” is chosen for the purpose of preparing this report.TASK 1P1. Management accounting and essential requirements of its different accounting systemManagement Accounting Practices Committee (MAPC) defines Managementaccounting as “ the process of identifying, measuring, analysis, interpreting and communicatingfinancial information which is used by manager to formulate an effective business decision.Institute of Management Accountants (IMA) defines MA as “ It is a profession thatinvolves partnering in management decision making, control and monitoring the financialrecords and information in order to formulate an effective plans and strategies.1

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