Management Accounting Report Sample

Management Accounting

Table of Contents
INTRODUCTION...........................................................................................................................3
PROJECT 1......................................................................................................................................3
PROJECT 2....................................................................................................................................14
TASK 1..........................................................................................................................................14
1.1: Costing methods uses for evaluating net profit.............................................................14
1.2: Various range of management accounting techniques..................................................16
1.3: Develop financial report that apply and interpret data for a business...........................16
TASK 2..........................................................................................................................................17
2.1: Advantages and disadvantages of various types of planning tools used for budgetary
control...................................................................................................................................17
2.2: Estimate the expenses for July and August...................................................................18
2.3: Cash budget...................................................................................................................18
TASK 3..........................................................................................................................................19
3.1: Adoption of accounting system to deal with financial issues.......................................19
3.2: Analyse measures to improve financial performance of both company's.....................20
3.3: Evaluate planning tools use in management accounting...............................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Management accounting is an essential aspect for every small or large business
organisation. This will assists in better understanding of accounting systems those are being
crucial in analysing positive outcomes for the company. The second part of this project is
focusing various costing methods those are helpful in determining accurate net profitability of an
organisation during the time. Some specific tolls and techniques which is use in planning tools to
control budgets. Understanding of different financial issues and effective measure to resolve
them are discuss under this project reports (Bennett and James, 2017).
PROJECT 1
In every manufacturing businesses, it has been seen some sort of accounting issues which is
arises because of inappropriate systems. Managers are not following proper rules and regulation
while recording any financial transactions which is associated with the production process. Their
is a slight difference among financial accounting and management accounting which is
associated with assisting managers in the department to take crucial decision, whereas financial
accounting is the most targeted at offering data to external parties those are directly or indirectly
related with the company. This is process of formulating management accounts offer timely and
accurate statistical data by the managers to estimating everyday and short run decision-making.
Accounting is a systematic aspects of measuring, evaluating and communicating economic
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information to allow positive decision and judgement by the users. Every system is analyse to
deliver various managerial information those are based on essential requirement of
administration.
There are many kinds of accounting systems which includes valuable objectives, component and
functions. Likewise, every accounting systems is having some crucial elements which is use to
create standardise context as to project aims for data that is analyse and communicate
accordingly. Some of them are mentioned underneath:
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The following project is explaining crucial information about various management accounting
systems and reporting. Further, this report is evaluating benefits of using management
accounting in operational department of UKC furniture. These information are mainly helpful in
taking future investments decision to increase their productivity of an organisation
In this costing system proper allocation is needs to be performed on either activity based costing
and traditional costing method. Approximation of actual cost for a product is vital for effective
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operation of UCK furniture company. Business managers mostly relies on accounting
information which is too general and particular on cost to control their coming issues.
Inventory management system is said to be the combination of application of barcode scanners,
mobile device and other stock controlling software. This systems helps to control and overseeing
of total quantities of finished goods for sales. The primary objectives of using this accounting
system is to make accurate understanding of current stock level and under stock condition.
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