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Introduction to Management Accounting INTRODUCTION

   

Added on  2021-01-01

19 Pages4444 Words429 Views
Management Accounting
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INTRODUCTIONManagement Accounting refers to managing overall accounting and financial statementof company. It helps in obtaining information and financial statistics. It is helpful for analysingexpenses and costs and in preparation of internal financial reports, that helps in evaluating andmeasuring financial performance of organization and process in order to achieve business goals.The Project report will explain various types of accounting systems Further, it willoutline different methods used for management accounting reporting. Thus, the assignment willevaluate the benefits of management AS and will showcase how the system report and integratewithin business process. However, Report will explain the use of planning tools used in Management accountingand will also explain the advantages and disadvantages of different types of planning tools usedin budgetary control. It will compare how organisations are adapting management accountingsystems in order to respond to financial problems. Lastly the report will critically evaluate howplanning tools for accounting respond appropriately fore solving financial problems in thebusiness.TASK 1Management AccountingIt is the method of managing the organization by the use of accounting, this accounting ishelp to identify the financial performance of business. (Curry, Hersinger and Nilsson, 2019).This accounting is help to managers for decision making also helps to making planning andmanage performance system, also expertise of the organization makes the financial report inorder to identifying the financial position of the company, they formulating this strategy andimplementing the strategy in the organization. 1.The system refers to confidential internal reports that aids managers in decision makingprocess. This system is used in all business units, Information technology, Human resource, salesand operations. There are various types of system such as:- Cost accounting systemIt is used as a tool of estimate the cost of production. It is the framework which measurethe cost, inventory valuation also analysis the profitability of the company. Cost accounting is2
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