Management Accounting( MA) Assignment

Added on - 06 Jun 2020

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Management Accounting
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Various management accounting system...............................................................................1P2 Various method for management accounting reporting.........................................................3TASK 2............................................................................................................................................4P3 Income statement and difference between marginal and absorption costing.........................4TASK 3............................................................................................................................................8P4 Merit and demerit of many kind of planning tools which is used in budgetary control........8TASK 4.........................................................................................................................................11P5 Adopting management accounting system for responding financial troubles.....................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
INTRODUCTIONManagement accounting is fundamental for each and every kind of company as withassistance of this manager will get adequate results which are beneficial for them. It isfundamental for company to combine their administration with procedure of accounting;therefore, they will make their working operations more viable and in addition control theirexpenditures(Ahmad and Mohamed Zabri, 2012). Along with this, by manage entire things in anadequate way; employer will decrease their risk of business. Present report is based on Taj Storeswhich is established in UK. They are providing variety of grocery goods to their clients as pertheir requirements. In this report, there is description about various management accountingsystem. This assignment is going to describe difference amongst marginal and absorptioncosting. There are various methods which can be utilized by manager to take an adequatedecision for firm. As a result, entire work will fulfilled within specific time span.TASK 1P1 Various management accounting systemIn previous era, it was not difficult for a person to begin their own business as he has toidentify a producer who will develop goods and then, he will sell it into market. Time goes andthis will become more tricky for an individual to start their own firm as lots of use of newmethods and techniques. As per current market trend it is required for companies to understandimportance which are associated with management accounting; thus, they can easily manageentire operational exercises in an effective manner. This procedure is just like where manager tryto find out and examine financial as well as non financial data. Therefore, firm will use resourcesadequately which is advantageous for them. With assistance of this, enterprise will manage theirfund properly(Aminbakhsh, Gunduz and Sonmez, 2013). By avoiding or resolve disputes anassociation will easily attain desired goals within time.Costing is much significance part which is associated with management accounting. Thiswill aid to reduce overall manufacturing cost. It can affect profits of company directly. By takingdecisions timely, firm will accomplish their targets within provided period of time. To improveinteraction amongst various levels manager will take aid of system of management accounting.With assistance of this manager will easily understand strategies which are developed bygovernment. External environment will provide impact to firm either in a positive or negative1
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