Management Accounting Essay - Unicorn Grocery
Added on -2020-07-22
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MANAGEMENTACCOUNTING
Table of ContentsREPORT..........................................................................................................................................1Subject:- Management Accounting system which help to produce a report which is very muchuseful for the business. ....................................................................................................................1INTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................2P1 Management Accounting and different type of management accounting.............................2P2 Different method for management accounting reporting.......................................................4TASK 2............................................................................................................................................6P3 Calculation cost and make income statement with help of marginal and absorption cost.....6TASK 3............................................................................................................................................8P4 Advantage and disadvantage of different planning tool for the budgetary control...............8TASK 4..........................................................................................................................................11P5 Management accounting system and it also respond to financial problems as well............11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
REPORTFrom:- Management Accounting officerTo:- General Manager of companySubject:- Management Accounting system which help to produce a report which is very muchuseful for the business.
INTRODUCTIONManagement accounting is that which indicate for financial information and it alsosupport the managers in bringing a effective decision for company so that they can perform inbetter manner too. Accounting of finance scenario make firm to invest their money from wherethe revenue can be obtained even in right context as well (Albelda, 2011). Moreover theenterprises are also using various technologies and such thing make them to save their importantinformation related to finance at one place. Unicorn grocery is such firm which is working atsmall level and having a motto of offering better products to customers according to theredemands and needs as well. Assignment will include the financial system and report which canbe adopted by company and it also considers the methods which is used by managerial team tocalculate the various cost and although help in making of income statement. Advantage anddisadvantages is also being included to control their budget and management accounting is alsoused to solve the various financial problems of firm.TASK 1P1 Management Accounting and different type of management accounting.Management accounting is a process which prepare reports and accounts that provideaccurate and timely information about finance and statics which help managers to take decisionsaccording to that. It helps in generating reports on monthly or weekly basis which keeps theorganisation up to date. These reports mainly consists of transaction, cash inflow and outflow,revenue, state of account payable and receivable, any kind of debts, raw material and inventorypurchase and others statistics (Arroyo, 2012). These facts and figures help organisation toformulate strategies so that they can maximise their benefits and improve its performance. It alsoreflects the actual financial position of firm and prevent it form any fluctuations resulting in lossof money. Management accounting involves designing and preparing reliable reports which leads toaccomplishment of short term as well as long terms organisational goals. Unicorn Grocery is a grocery store situated in Manchester, England. They have economicproducts range and is one of the largest independent wholefood groceries In UK. They use bulkpurchasing from manufacturers which is very cost effective provide benefits to firm. Theyregular manage their accounts and reports which keep them updated. The company maintain
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