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TASK 11 P1 Management Accounting INTRODUCTION 1 TASK 11 P2 Evaluation of management accounting report integrated within organisational process

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Added on  2020-10-05

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Management Accounting INTRODUCTION 1 TASK 11 P1 Management accounting and its different types1 P2 Methods for management accounting Reporting 3 M1 Benefits of management accounting system 4 D1 Critical evaluation on management accounting report integrated within organisational process 4 TASK 24 P3 Calculation of costs using techniques of cost analysis 4 M2 Apply management accounting techniques to produce financial reporting documents8 D2 Produce financial reports that accurately apply and interpret data 8 TASK 39 P4 Advantages and disadvantages of different types of planning tools

TASK 11 P1 Management Accounting INTRODUCTION 1 TASK 11 P2 Evaluation of management accounting report integrated within organisational process

   Added on 2020-10-05

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Management Accounting Table of Contents
TASK 11 P1 Management Accounting INTRODUCTION 1 TASK 11 P2 Evaluation of management accounting report integrated within organisational process_1
INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Management accounting and its different types................................................................1P2 Methods for management accounting Reporting..............................................................3M1 Benefits of management accounting system....................................................................4D1 Critical evaluation on management accounting report integrated within organisationalprocess....................................................................................................................................4TASK 2............................................................................................................................................4P3 Calculation of costs using techniques of cost analysis......................................................4M2 Apply management accounting techniques to produce financial reporting documents. .8D2 Produce financial reports that accurately apply and interpret data...................................8TASK 3............................................................................................................................................9P4 Advantages and disadvantages of different types of planning tools for budgetary control9M3 Use of planning tools and application for preparing and forecasting budgets...............10TASK 5..........................................................................................................................................11P5 Comparison on how organizations are adapting management accounting system to resolvefinancial problems................................................................................................................11D3 Examine planning tools respond to lead organisation to sustainable success................12M4 Examine planning tools respond to lead organisation to sustainable success...............12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
TASK 11 P1 Management Accounting INTRODUCTION 1 TASK 11 P2 Evaluation of management accounting report integrated within organisational process_2
INTRODUCTION Management accounting is a process of recording various transactions that takes placewithin an organisation and then presenting them in an effective manner for the users of theseAccounting records for the purpose of decision making in the longer run. ManagementAccounting plays a very important role in the monitoring the overall business performance in aneffective way over period of time. The current report will throw a light on the variousmanagement accounting tools that are being used like planning and measurement tools. Thecompany is a leading supplier of various kinds of landscaping products, tree planting productsand at the same time is engaged in providing different garden supplies as well (Kumarasiri andJubb, 2016).This particular report will emphasize on the different tools that are being used forbudgetary control. Different types of managerial accounting reports are budget; cost as well asinventory etc. an income statement is prepared on the basis of calculations of costs by usingabsorption and marginal costing methods. The importance of management accounting in thebusiness decision will also be discussed in detail in an effective manner under the current report.TASK 1P1 Management accounting and its different typesIn a usual business operations there are various kinds of business transactions that takesplace and thus it becomes even more necessary to effectively record those transactions in amanner that they can be used for the purpose of decision making of the users of these accountingrecords. The users of this accounting information can be both internal as well as external innature; internal users can be management of the company, employees etc. while external userscan be investors,, government authorities etc. The Role of Management Accounting is basicallyto take care of all the transactions and record them appropriately so that necessary reports can beprepared for important business decisions like budgetary control etc.Green Tech is a company which is engaged in the unique business of providing suppliesrelated to garden and planting trees. For this purpose the company comes across various kinds oftransactions that it decides to record through various kinds of management accounting systemthat is in place, these includes:1
TASK 11 P1 Management Accounting INTRODUCTION 1 TASK 11 P2 Evaluation of management accounting report integrated within organisational process_3
Price Optimisation System: It is quite obvious that demand of a particular goods orservice will fluctuate at different prices. This system is primarily used to determine the right kindof prices that can be charged from customers that will enable higher profits and will also notaffect the sales of the organisation in the longer run. Therefore, the management of Green techuses this accounting system for pricing the various products of their company to competeeffectively in the market at competitive prices.Job Costing System: Under this system, the cost of a particular job is calculated. Thiskind of system helps in assigning manufacturing for each unit that is being provided to thecustomers. But this type of system is basically used when the goods that are being provided arequite different than other goods. Managers of Green Tech used this system for keeping trackrecord of cost of each job and maintaining data as well. It includes following procedure:-Receive Enquiry: The customer will first enquire about the product, its quality,, pricesetc. and then an order is given.Price Estimation: - Job costing is usually done by accountant who estimate price of eachunit by identifying taste and preference of customers. Order Receive: Once the customers are satisfied they will give order for the products orservice.Production Order: This order is being placed for the purpose of starting the process ofproduction in an effective manner.Recording of Cost: The cost of production and its every aspect are properly recorded forthe purpose of using the same for decision making purposes.Completion of Job: Once the Job is complete, the report is being handed over to theconcerned accounts department of the company in the longer run.Cost Accounting System: This is a comprehensive system of accounting that calculatesas well as records various costs that is being incurred by the company in the process of providinggoods and services to clients as well as customers in the longer run (Maskell, Baggaley andGrasso, 2016).Inventory Management System: This is also a very important system that helps anorganisation in managing the level of inventory in an efficient manner. Inventory management isa very important part of cost management within the business and this system allows anorganisation to effectively ascertain the minimum cost that shall be incurred on inventory in2
TASK 11 P1 Management Accounting INTRODUCTION 1 TASK 11 P2 Evaluation of management accounting report integrated within organisational process_4

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