“Management accounting” (Project 1).

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“Management accounting”
(Project 1)

Content covered
 Introduction
 Management accounting and management accounting systems
 Different methods used for management accounting reporting
 Benefits of management accounting systems
 Integration of the management accounting system
 Conclusion
 References

INTRODUCTION
Management Accounting is important concept which required to
adopt by every organisation to attain their results. It includes the
use of different types of management accounting systems which
provides financial and non financial information.

Management accounting and management
accounting systems
Management Accounting: It
is considered as the
important system which
helps in identifying,
measuring, analysing,
interpreting and
communicating of
information for
achievement of goals.

Continue...
Difference between management and financial accounting
Basis Management
Accounting
Financial Accounting
Purpose Such accounting
systems are used for
the purpose of
improving the
decision making of
management.
It includes the preparation of
different accounts which provides
the financial position of
organisation to external parties.
Users These systems are
used by the internal
parties
Such accounts are used by the
external parties to take informed
decisions

Different methods used for management
accounting reporting
Report: It is a document which contains the information in form
of narrative, graphic or tabular form. The main aim behind the
preparation of these reports is to provide important information.
UCK Furniture is an organisation which provides their services
in UK.

Benefits of management accounting systems
There are large number of benefits are achieved by the
management of UCK Furniture through implementation of
the different management accounting systems which are
mentioned below:
 Job costing system
 Price optimizing system
 Cost accounting system
 Inventory management system

Integration of the management accounting system
To improve the organisational performance there is huge
need for the implementation of different management
accounting systems and reports. Such reports provides the
large number of information which is useful for
conducting business functions.

Conclusion
It has been concluded from the above report that, management
accounting is important concept which helps in improvement
of the overall performance of organisation. Through use of
such systems understanding between the different departments
of organisation is improved.

References
Stadler, W. ed., 2013. Multicriteria Optimization in
Engineering and in the Sciences (Vol. 37). Springer
Science & Business Media.
Stair, R. and Reynolds, G., 2013. Principles of information
systems. Cengage Learning.

Thank you