Management Accounting and Their Requirements

Task 1
Management Accounting

Management Accounting And
Their Requirements
Management Accounting: It can be described as the procedure of
data management, evaluating and controlling by assessing the
company's operating circumstance. It's being used by management
at Crest Dairy to develop potential to increase the organization.
Management accounting system: It can be described as a method
that executives use to decide the company’s capital position such
that they can make a decision and shape new enterprise
improvement policies.

Inventory Management System
It's being used by executives of most manufacturing firms to
maintain accurate stock data which is used to help the business
grow. In order to satisfy their request, management at Crest
Dairy will determine the requirements for raw materials that are
used to manufacture goods and marketed to consumers. There
are various methodologies of inventory valuation that businesses
use as per their regulations, which are defined elsewhere here:

Cost Accounting System
It is a method that the company uses to measure the price of the
service, which therefore effectively improves accounting policy,
productivity and cost benefit analysis. Crest Dairy's manager uses
this method to measure the price of the product and try to reduce &
monitor it over the time frame. This method helps to lower
manufacturing costs, which produce more profit margins instantly.
Thus, the administrator analyses all manufacturing activities and
establishes a plan to minimize the closing value of product, work -
in - progress and completed goods.