Management Accounting: Types of Systems, Reports, and Benefits

Management Accounting
PART 1

Covered content
• Introduction
• Various management accounting systems
• Different types of accounting reports
• Benefits of using MA
• Critical evaluation of reporting system
• Conclusion
• References

Introduction
Management accounting is encompassing techniques and
procedure that are intended to delivery financial and non-
financial data to an individual within an organisation. This
project report is more effectively discuss about various types
of accounting and reporting systems those are being helpful
in daily business operation.

Various types of accounting system
It is any form of accounting which enables a UCK furnitures
to conduct more efficiently their financial transaction is
termed as management accounting. Some of the crucial
objectives are mentioned underneath:

Cost Accounting system
It is said to be an effective accounting system which is design
by the firm to forecast their total cost of products in order to
evaluate total profit they are getting during the time. This
system is entirely helpful in estimating accurate cost of their
products which is produce by the UCK furnitures during the
time.

Price optimisation system
It happens to be one of the major aspect for every management. It
is use as numerical evaluation by the company to identify
customers reactions about various prices for their products and
services. It would also assists the cost that a company identifies
will be best suitable to meet out their aims and objective for the
purpose of increasing operational profitability.