Management Accounting of Zylla : Report
Added on 2020-07-23
18 Pages5210 Words34 Views
Management Accounting
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Essential requirements of different types of management accounting systems ....................1P2 Various reporting systems used in management accounting.................................................3M1...............................................................................................................................................6D1................................................................................................................................................6TASK 2............................................................................................................................................6P3 Few costing methods considered in management accounting...............................................6M2...............................................................................................................................................8D2................................................................................................................................................8TASK 3............................................................................................................................................8P.4 Benefits and limitations of planning tools............................................................................8M3.............................................................................................................................................10D3..............................................................................................................................................11TASK 4..........................................................................................................................................11P.5 Adopting management accounting systems for responding the financial problems ..........11M4.............................................................................................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13.......................................................................................................................................................14
INTRODUCTIONManagement accounting is considered as effective technique which main aim is to focuson organisational resources. It provides the support to managers of organisation to enhancecustomer and shareholder value. It is an effective tool which includes the preparation of variousaccounts and reports which provides the financial and non financial information. Such systemenhance the decision making power of management of organisation and helps in planning,organising, motivating, controlling, risk management etc. It is one of the important part of everyorganisation whether running at small or large scale. The various information which is producedby the use of such system is about cash, accounts payable, outstanding debts, raw material,inventory, accounts receivable etc. Large number of advantages are achieved by organisations bythe use of management accounting systems like increased financial return, reduction of expenses,high productivity etc. Zylla is small company which deals in diversified products (Baldvinsdottir,Mitchell and Nørreklit, 2010). In the present report explain about, essential requirement of different types ofmanagement accounting systems, different methods of management accounting reporting,preparation of income statement by the use of marginal and absorption costing method,advantages and disadvantages of different types of planning tools and their use in budgetarycontrol. Also, adoption of management accounting systems by different organisation toeffectively respond financial problems.TASK 1P1 Essential requirements of different types of management accounting systems Management Accounting: It is effective system which includes the use of differentaccounting methods regarding production of the information which is further used in preparationof internal reports. Such reports provides the opportunity to the management of organisation toenhance their decision making power. Financial and non financial informations are generated bythe use of such systems which helps in planning, organising, controlling, strategic management,risk management, appraisal of performance etc. Management of zylla also uses differentaccounting systems like cost accounting, inventory management, job costing etc. to improvetheir performance and achieve their business targets. Every single accounting system have theirown role in organisation. By the use of such different methods large number of benefits are1
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