This report examines the financial situation of Tech (UK) Limited, a company experiencing significant losses in the mobile phone and gadget retail sector. It delves into the concepts of management accounting, including its distinction from financial accounting, its importance in decision-making, and various cost accounting systems. The report further explores different types of managerial accounting reports, emphasizing the importance of clear and understandable presentation. It then analyzes the company's financial performance using income statements prepared under both marginal and absorption costing methods. The report also discusses the importance of budgeting, outlining different types of budgets, their advantages and disadvantages, and the budget preparation process. Finally, it examines the Balanced Scorecard approach as a solution to Tech (UK) Limited's financial problems, comparing it to another management accounting approach used in a different organization.
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