Management Accounting: Role, Functions, and Tools for Financial Problem Solving
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This report discusses the role, functions, and principles of management accounting and its importance in integrating its system within a company. It also explores different management accounting reports and the advantages and disadvantages of budgetary tools. Additionally, it discusses how organizations are adopting management systems to respond to financial problems. The report includes a case study of Eastern Engineering Co. Ltd, a medium-sized manufacturing company.
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UNIT 5 MANAGEMENT
ACCOUNTING
ACCOUNTING
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explaining role, functions and principles of management accounting and importance to
integrate its system within company...........................................................................................1
Explaining different management accounting reports................................................................3
Explaining advantages and disadvantage of budgetary tools......................................................4
Explaining & comparing how organizations are adopting management system to respond
financial problem........................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explaining role, functions and principles of management accounting and importance to
integrate its system within company...........................................................................................1
Explaining different management accounting reports................................................................3
Explaining advantages and disadvantage of budgetary tools......................................................4
Explaining & comparing how organizations are adopting management system to respond
financial problem........................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
INTRODUCTION
Management accounting is concerned with having process of having financial information and
resources information so that strategic decision can be made. It allows analyzing, interpret and
control the information in turn greater insights to have proper functioning. The current report is
based on Eastern Engineering Co. Ltd which is medium-sized organization operating in the
manufacturing industry. Present report will highlight role & functions, principles of management
accounting and its significance in integrating its system within company. It will provide insights
related to different methods of management accounting reports and advantages & disadvantage
of budgetary tools. The current study will highlight how organization is responding to financial
problems.
MAIN BODY
Explaining role, functions and principles of management accounting and importance to integrate
its system within company
Management Accounting (MA) is associated with maintaining proper insights from
collecting, analyzing, gathering and interpreting both financial & non monetary data in turn
strategic decision can be taken. The main role of MA comprises recording, selecting, managing
company's practice, risk management h, budgeting, planning, strategic and decision-making. It
helps fir to get the reliable information to decline cost, analyzing pricing strategy so that risk can
be reduced to have optimum utilization of resources (Abdusalomova, 2019). Easter Engineering
Co. Ltd as being manufacturing company requiring paying attention on having relevant &
reliable insights so that continuous improvement can be derived.
The principles of management accounting is focusing on influencing, relevance, analyze
and trust. These principles are having ability to communicating insights that is able to influence,
information is relevant, stewardship build trust, impact on value is analyzed (TRUHACHEV,
KOSTYUKOV and BOBRISHEV, 2017). It aids in designing, compiling, managing expansion,
controlling sources, utilizing resources, etc are the crucial functions of management accounting.
Management Accounting System (MAS) is the process of using different techniques in turn
higher ability to decline cost, increase profitability, etc can be obtained. It comprises job costing,
cost accounting, price optimization and inventory management system. Each system plays
crucial role in affecting the business processes in positive manner.
Job costing system
1
Management accounting is concerned with having process of having financial information and
resources information so that strategic decision can be made. It allows analyzing, interpret and
control the information in turn greater insights to have proper functioning. The current report is
based on Eastern Engineering Co. Ltd which is medium-sized organization operating in the
manufacturing industry. Present report will highlight role & functions, principles of management
accounting and its significance in integrating its system within company. It will provide insights
related to different methods of management accounting reports and advantages & disadvantage
of budgetary tools. The current study will highlight how organization is responding to financial
problems.
MAIN BODY
Explaining role, functions and principles of management accounting and importance to integrate
its system within company
Management Accounting (MA) is associated with maintaining proper insights from
collecting, analyzing, gathering and interpreting both financial & non monetary data in turn
strategic decision can be taken. The main role of MA comprises recording, selecting, managing
company's practice, risk management h, budgeting, planning, strategic and decision-making. It
helps fir to get the reliable information to decline cost, analyzing pricing strategy so that risk can
be reduced to have optimum utilization of resources (Abdusalomova, 2019). Easter Engineering
Co. Ltd as being manufacturing company requiring paying attention on having relevant &
reliable insights so that continuous improvement can be derived.
The principles of management accounting is focusing on influencing, relevance, analyze
and trust. These principles are having ability to communicating insights that is able to influence,
information is relevant, stewardship build trust, impact on value is analyzed (TRUHACHEV,
KOSTYUKOV and BOBRISHEV, 2017). It aids in designing, compiling, managing expansion,
controlling sources, utilizing resources, etc are the crucial functions of management accounting.
Management Accounting System (MAS) is the process of using different techniques in turn
higher ability to decline cost, increase profitability, etc can be obtained. It comprises job costing,
cost accounting, price optimization and inventory management system. Each system plays
crucial role in affecting the business processes in positive manner.
Job costing system
1
it is concerned with paying concentration on having ability to analyze the cost of each task so
that its contribution in overall profitability of firm can be assessed. Eastern Engineering Co. Ltd
(EECL) can obtain the ability to ascertain that what re non crucial element of manufacturing
process which is resulting into hindering performance so that can be eliminated to have highers
level of efficiency. For example- Eastern Engineering Co. Ltd can get the capabilities to identify
the overall costing through measuring each job so that declining expenditure to have higher level
of accuracy in turn monitoring can become possible.
Cost accounting system
It is the framework which is used by firm to determine the estimated cost so that
profitability analysis, cost control & inventory valuation can become possible. On the basis of
this it can can be articulated that Eastern Engineering Co. Ltd as being operator in the
manufacturing industry need to pay attention on having relevant and reliable insights regarding
cost structure (NGUYEN and LE, 2020). It aids in managing & controlling expenditure of the
prevailing operational practices so that higher level of profit margin can be ensured. For
instance- Eastern Engineering Co. Ltd can estimate its cost incurred in overall processing of
production so that having significant details related with obtaining the profit margin through
accurate assessing expenditure so that recovering expenses can become possible.
Price optimization system
It provides assistance in assessing the customers' response towards changing price level
in turn accurate and fair price for attracting larger number of customer can be determined.
Eastern Engineering Co. Ltd require focusing on having such system in business so that
effective determining of accurate price to have reliable outcome in turn of revenue, gaining
competitiveness, etc.
Inventory management system
It provides help in having information related with finished, work in progress and p
raw material which can allow to avoid the situation of over & under stocking. The particular
system of management accounting is integrated with manufacturing & distribution process in
turn meeting market forces can become possible (Massicotte and Henri, 2021). For essence — It
can be articulated that Eastern Engineering Co. Ltd can use inventory management system to
have depth insights regarding management of stock so that covering larger market share can be
achieved.
2
that its contribution in overall profitability of firm can be assessed. Eastern Engineering Co. Ltd
(EECL) can obtain the ability to ascertain that what re non crucial element of manufacturing
process which is resulting into hindering performance so that can be eliminated to have highers
level of efficiency. For example- Eastern Engineering Co. Ltd can get the capabilities to identify
the overall costing through measuring each job so that declining expenditure to have higher level
of accuracy in turn monitoring can become possible.
Cost accounting system
It is the framework which is used by firm to determine the estimated cost so that
profitability analysis, cost control & inventory valuation can become possible. On the basis of
this it can can be articulated that Eastern Engineering Co. Ltd as being operator in the
manufacturing industry need to pay attention on having relevant and reliable insights regarding
cost structure (NGUYEN and LE, 2020). It aids in managing & controlling expenditure of the
prevailing operational practices so that higher level of profit margin can be ensured. For
instance- Eastern Engineering Co. Ltd can estimate its cost incurred in overall processing of
production so that having significant details related with obtaining the profit margin through
accurate assessing expenditure so that recovering expenses can become possible.
Price optimization system
It provides assistance in assessing the customers' response towards changing price level
in turn accurate and fair price for attracting larger number of customer can be determined.
Eastern Engineering Co. Ltd require focusing on having such system in business so that
effective determining of accurate price to have reliable outcome in turn of revenue, gaining
competitiveness, etc.
Inventory management system
It provides help in having information related with finished, work in progress and p
raw material which can allow to avoid the situation of over & under stocking. The particular
system of management accounting is integrated with manufacturing & distribution process in
turn meeting market forces can become possible (Massicotte and Henri, 2021). For essence — It
can be articulated that Eastern Engineering Co. Ltd can use inventory management system to
have depth insights regarding management of stock so that covering larger market share can be
achieved.
2
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Explaining different management accounting reports
There are several MA reporting methods which are useful in obtaining the information so that
formulation of strategic decision can become possible. Eastern Engineering Co. Ltd can
formulated distinct type of management accounting reports so that having relevant & reliable
information for making decision can be derived. It involves budgets, cost managerial, account
receivable aging reports, performance and other managerial reports.
Account receivable aging report is concerned with focusing on assessing the
effectiveness of credit policies formulated by the company (Types of Managerial
Accounting Reports, 2021). Eastern Engineering Co. Ltd as well deal with its debtor
through having this reports as information regarding duration of collection, bad debts, etc
can be obtained. It as well useful in improving liquidity through reminding collection
period, making good relationship with debtors, etc.
Budgeting report is basically made by firm for having road map to allocate, analyses and
control monetary resources. Eastern Engineering Co. Ltd can get assistance from budget
report to compare its previous performance with current in order to make relevant
changes via recognizing the cause behind it. It can be useful in eliminating non crucial
components and applying suitable course of action to optimize resources.
Performance report leads the firm towards making relevant & effective decision by
analyzing potential efforts so that higher profitability & sustainability can be achieved. It
focuses on having identifying reasons for having key strategic decision in turn better
accurate measure to achieve mission. Eastern Engineering Co. Ltd can have the reliable
estimation so that applying suitable action can be exerted.
Cost managerial accounting reports is one of the crucial report which is useful for
Eastern Engineering Co. Ltd so that better estimation of prevailing situation of cost
incurred for proceeding business process can be done (Adu-Gyamfi and Chipwere,
2020). Eastern Engineering Co. Ltd can effectively analyse the cost so that controlling
process can become possible. Its is widely taken into practice to have depth data in order
to make proper decision.
Other managerial reports includes cost, market analysis, etc which can be useful the
Eastern Engineering Co. Ltd to have data which is widely helpful in making decision so
that competitiveness can be achieved.
3
There are several MA reporting methods which are useful in obtaining the information so that
formulation of strategic decision can become possible. Eastern Engineering Co. Ltd can
formulated distinct type of management accounting reports so that having relevant & reliable
information for making decision can be derived. It involves budgets, cost managerial, account
receivable aging reports, performance and other managerial reports.
Account receivable aging report is concerned with focusing on assessing the
effectiveness of credit policies formulated by the company (Types of Managerial
Accounting Reports, 2021). Eastern Engineering Co. Ltd as well deal with its debtor
through having this reports as information regarding duration of collection, bad debts, etc
can be obtained. It as well useful in improving liquidity through reminding collection
period, making good relationship with debtors, etc.
Budgeting report is basically made by firm for having road map to allocate, analyses and
control monetary resources. Eastern Engineering Co. Ltd can get assistance from budget
report to compare its previous performance with current in order to make relevant
changes via recognizing the cause behind it. It can be useful in eliminating non crucial
components and applying suitable course of action to optimize resources.
Performance report leads the firm towards making relevant & effective decision by
analyzing potential efforts so that higher profitability & sustainability can be achieved. It
focuses on having identifying reasons for having key strategic decision in turn better
accurate measure to achieve mission. Eastern Engineering Co. Ltd can have the reliable
estimation so that applying suitable action can be exerted.
Cost managerial accounting reports is one of the crucial report which is useful for
Eastern Engineering Co. Ltd so that better estimation of prevailing situation of cost
incurred for proceeding business process can be done (Adu-Gyamfi and Chipwere,
2020). Eastern Engineering Co. Ltd can effectively analyse the cost so that controlling
process can become possible. Its is widely taken into practice to have depth data in order
to make proper decision.
Other managerial reports includes cost, market analysis, etc which can be useful the
Eastern Engineering Co. Ltd to have data which is widely helpful in making decision so
that competitiveness can be achieved.
3
Explaining advantages and disadvantage of budgetary tools
There are several planning tools of budgetary control which is useful in having effectiveness so
that deeper information to comply with prevailing circumstances become possible (Bedford,and
Speklé, 2018). From the evaluation it can be said that specified firm in order to operate
effectively in production industry for offering products need to focus on having relevant
plannings in turn better competitive benefits can be achieved. These each tool has few
advantages and disadvantages which are as follows:
Cash budget
It is one of the effective planning tool that emphasis on recording cash in & out flows in
turn actual liquidity can be assessed (Cash budgets, 2021). Eastern Engineering Co. Ltd can
formulate cash budget to get proper data regarding the fund available so identifying the situation
of arising fund for coordinating with unforeseen circumstances can become possible.
Advantages Disadvantages
It allows to have proper usage of cash
through ensuring optimum utilization
so that relevant capital investment can
be made by Eastern Engineering Co.
Ltd.
The spending power of EECL can be
limited by applying the cash budget
which might negative influence the
processing of having credibility in
market.
Eastern Engineering Co. Ltd can
proper manage thee policy of business
by keeping touch with the reality. It
can be helpful in overcoming potential
deficits to have maximum
profitability.
It forces the cost to be the primary
factor in the decision by not including
other external elements which can
adversely affect Eastern Engineering
Co. Ltd.
Activity based budgeting
This type of budgetary control planning tool is related with recording, evaluating ,etc the
activities which lead s to the cost to the company. EECL is highly concerned with having
4
There are several planning tools of budgetary control which is useful in having effectiveness so
that deeper information to comply with prevailing circumstances become possible (Bedford,and
Speklé, 2018). From the evaluation it can be said that specified firm in order to operate
effectively in production industry for offering products need to focus on having relevant
plannings in turn better competitive benefits can be achieved. These each tool has few
advantages and disadvantages which are as follows:
Cash budget
It is one of the effective planning tool that emphasis on recording cash in & out flows in
turn actual liquidity can be assessed (Cash budgets, 2021). Eastern Engineering Co. Ltd can
formulate cash budget to get proper data regarding the fund available so identifying the situation
of arising fund for coordinating with unforeseen circumstances can become possible.
Advantages Disadvantages
It allows to have proper usage of cash
through ensuring optimum utilization
so that relevant capital investment can
be made by Eastern Engineering Co.
Ltd.
The spending power of EECL can be
limited by applying the cash budget
which might negative influence the
processing of having credibility in
market.
Eastern Engineering Co. Ltd can
proper manage thee policy of business
by keeping touch with the reality. It
can be helpful in overcoming potential
deficits to have maximum
profitability.
It forces the cost to be the primary
factor in the decision by not including
other external elements which can
adversely affect Eastern Engineering
Co. Ltd.
Activity based budgeting
This type of budgetary control planning tool is related with recording, evaluating ,etc the
activities which lead s to the cost to the company. EECL is highly concerned with having
4
position to decline cost and increase profitability which can allow inclining ability to
accomplishing objectives. The company can receive following benefits and drawbacks such as
Benefits Drawbacks
It is helpful in evaluating competitive
edge prevailing in business unit
through focusing on each activity
leading to cost (Maheshwari,
Maheshwari and Maheshwari, 2021).
There is requirement to have higher
utilization of resources by executing
activity based budgeting into Eastern
Engineering Co. Ltd that can result in
expensive process.
Improving the relationship with
stakeholders become possible by this
method of budgetary control.
Requirement of skilled employees as
involve complex practices which need
depth understanding that become
difficult for the company.
Zero based budgeting
It is related with preparing the budget from the scratch so that better information
according to the prevailing requirement can be identified. EECL can obtained number of
benefits and drawbacks by executing it into its operational practices.
Merits Drawbacks
The specified planning tool of the
budgetary control can be useful for the
EECL to have higher level of accuracy
and efficiency for reduction in
redundant activities.
The one of the biggest drawback
include time-consuming process
which might affect efficiency of
EECL.
Having such tool can benefit the firm
to obtain ability to coordinate and
communicate crucial information so
that better decision can be formulated
Lack of expertise and high
requirement might lead to h have
expensive procedure into EECL.
5
accomplishing objectives. The company can receive following benefits and drawbacks such as
Benefits Drawbacks
It is helpful in evaluating competitive
edge prevailing in business unit
through focusing on each activity
leading to cost (Maheshwari,
Maheshwari and Maheshwari, 2021).
There is requirement to have higher
utilization of resources by executing
activity based budgeting into Eastern
Engineering Co. Ltd that can result in
expensive process.
Improving the relationship with
stakeholders become possible by this
method of budgetary control.
Requirement of skilled employees as
involve complex practices which need
depth understanding that become
difficult for the company.
Zero based budgeting
It is related with preparing the budget from the scratch so that better information
according to the prevailing requirement can be identified. EECL can obtained number of
benefits and drawbacks by executing it into its operational practices.
Merits Drawbacks
The specified planning tool of the
budgetary control can be useful for the
EECL to have higher level of accuracy
and efficiency for reduction in
redundant activities.
The one of the biggest drawback
include time-consuming process
which might affect efficiency of
EECL.
Having such tool can benefit the firm
to obtain ability to coordinate and
communicate crucial information so
that better decision can be formulated
Lack of expertise and high
requirement might lead to h have
expensive procedure into EECL.
5
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(Honggowati and et.al., 2017).
Explaining & comparing how organizations are adopting management system to respond
financial problem
In order to overcome financial problem various techniques can be utilized by specified
enterprise which involves variance analysis, balance score card, KPIs, financial governance and
bench marking.
Financial governance- It is related with focusing o complying with the various rules,
regulations, legislation, etc so that accomplishing objective of eliminating legal obligations in
turn higher profitability can be achieved. EECL can be useful in achieving ability to coordinate
with prevailing industrial and other issues.
Bench marking- It is having estimated standards so that actual performance can be compared to
have improved performance. It allows making sure that eliminated error, mistakes, etc in turn
identifying causes eliminating financial problem like higher expenses, less profitability, etc. it
allows getting significant functioning so that appropriate processing so that eliminating
monetary issue can be derived.
KPI- Key performance indicators are found in both monetary & non financial aspects like per
conversion art, profitability margin, revenue, etc so that having Gehrig quality of performance
can be achieved (falih Chichan and Alabdullah, 2021). It allows to have significant functioning
through making improvement actions so that accomplishing objectives can become possible.
Eastern Engineering Co. Ltd can obtain benefits to achieve objective though eliminating
monetary issue like non proper utilization of resources, etc.
Variance analysis — With help of this it can become possible for astern Engineering Co. Ltd to
get proper understanding of identifying deviation through comparing actual with estimated in
order to get better outcome. It can be useful for the specified company to give emphasis on
removing lacking areas so that quality performance can be achieved. It can be utilized for
formulating effective policy in turn higher progress become possible.
Balance scorecard- It is strategic management performance metric that aid in recognizing and
improving internal processes so that effective external outcome can be achieved. The specified
company can get the process of comparing past data with current to provide feedback in order to
6
Explaining & comparing how organizations are adopting management system to respond
financial problem
In order to overcome financial problem various techniques can be utilized by specified
enterprise which involves variance analysis, balance score card, KPIs, financial governance and
bench marking.
Financial governance- It is related with focusing o complying with the various rules,
regulations, legislation, etc so that accomplishing objective of eliminating legal obligations in
turn higher profitability can be achieved. EECL can be useful in achieving ability to coordinate
with prevailing industrial and other issues.
Bench marking- It is having estimated standards so that actual performance can be compared to
have improved performance. It allows making sure that eliminated error, mistakes, etc in turn
identifying causes eliminating financial problem like higher expenses, less profitability, etc. it
allows getting significant functioning so that appropriate processing so that eliminating
monetary issue can be derived.
KPI- Key performance indicators are found in both monetary & non financial aspects like per
conversion art, profitability margin, revenue, etc so that having Gehrig quality of performance
can be achieved (falih Chichan and Alabdullah, 2021). It allows to have significant functioning
through making improvement actions so that accomplishing objectives can become possible.
Eastern Engineering Co. Ltd can obtain benefits to achieve objective though eliminating
monetary issue like non proper utilization of resources, etc.
Variance analysis — With help of this it can become possible for astern Engineering Co. Ltd to
get proper understanding of identifying deviation through comparing actual with estimated in
order to get better outcome. It can be useful for the specified company to give emphasis on
removing lacking areas so that quality performance can be achieved. It can be utilized for
formulating effective policy in turn higher progress become possible.
Balance scorecard- It is strategic management performance metric that aid in recognizing and
improving internal processes so that effective external outcome can be achieved. The specified
company can get the process of comparing past data with current to provide feedback in order to
6
make strategic decision which may help astern Engineering Co. Ltd to get modified
performance.
Eastern Engineering Co. Ltd Associated British foods
The major issue faced by company is higher
cost of production which is reduced by
applying cost accounting system. It will permit
enterprise to get ability to reduce cost through
analyzing irrelevant components for
eliminating.
There is lack of efficiency in managing stock
which is affecting its ability to meet market
forces which overcome by applying inventory
management system.
Bench marking and variance analysis is
applied to handle the situation of cost problem.
KPI and financial governance is taken into
consideration for overcoming financial issue s
occurring due to highlighted problem.
CONCLUSION
From the above report it can be concluded that management accounting is concerned with
making decision through involving both financial & non monetary. The current report has
comprised information regarding management accounting role, principles, functions and its
different system like job, cost accounting, etc. present study has included MA reports like budge,
performance, etc. It has comprised planning tools like cash, activity & zero based budgeting, etc.
To resolve financial issues like bench marking, etc can be applied.
7
performance.
Eastern Engineering Co. Ltd Associated British foods
The major issue faced by company is higher
cost of production which is reduced by
applying cost accounting system. It will permit
enterprise to get ability to reduce cost through
analyzing irrelevant components for
eliminating.
There is lack of efficiency in managing stock
which is affecting its ability to meet market
forces which overcome by applying inventory
management system.
Bench marking and variance analysis is
applied to handle the situation of cost problem.
KPI and financial governance is taken into
consideration for overcoming financial issue s
occurring due to highlighted problem.
CONCLUSION
From the above report it can be concluded that management accounting is concerned with
making decision through involving both financial & non monetary. The current report has
comprised information regarding management accounting role, principles, functions and its
different system like job, cost accounting, etc. present study has included MA reports like budge,
performance, etc. It has comprised planning tools like cash, activity & zero based budgeting, etc.
To resolve financial issues like bench marking, etc can be applied.
7
REFERENCES
Books and Journals
Abdusalomova, N., 2019. PROBLEMS OF MANAGEMENT ACCOUNTING AND WAYS TO
SOLVE THEM. International Finance and Accounting. 2019(3). p.2.
Adu-Gyamfi, J. and Chipwere, K. Y. W., 2020. The Impact of Management Accounting
Practices on the Performance of Manufacturing Firms: An Empirical Evidence from
Ghana. Research Journal of Finance and Accounting. 11(20). pp.100-113.
Bedford, D. S. and Speklé, R. F., 2018. Construct validity in survey-based management
accounting and control research. Journal of Management Accounting Research. 30(2).
pp.23-58.
falih Chichan, H. and Alabdullah, T. T. Y., 2021. Does Environmental Management Accounting
Matter in Promoting Sustainable Development? A study in Iraq. Journal of Accounting
Science, 5(2), pp.114-126.
Honggowati, S. and et.al., 2017. Corporate governance and strategic management accounting
disclosure. Indonesian Journal of Sustainability Accounting and Management. 1(1).
pp.23-30.
Maheshwari, S. N., Maheshwari, S. K. and Maheshwari, M. S. K., 2021. Principles of
Management Accounting. Sultan Chand & Sons.
Massicotte, S. and Henri, J. F., 2021. The use of management accounting information by boards
of directors to oversee strategy implementation. The British Accounting Review. 53(3).
p.100953.
NGUYEN, H. Q. and LE, O. T. T., 2020. Factors affecting the intention to apply management
accounting in enterprises in Vietnam. The Journal of Asian Finance, Economics, and
Business. 7(6). pp.95-107.
TRUHACHEV, V. I., KOSTYUKOVA, E. I. and BOBRISHEV, A. N., 2017. Development of
management accounting in Russia. Revista Espacios. 38(27).
Online
Types of Managerial Accounting Reports. 2021. [Online]. Available through:
<https://www.completecontroller.com/types-of-managerial-accounting-reports/>.
Cash budgets. 2021. [Online]. Available through:
<https://www.accaglobal.com/my/en/student/exam-support-resources/fundamentals-
exams-study-resources/f2/technical-articles/cash-budgets.html>
8
Books and Journals
Abdusalomova, N., 2019. PROBLEMS OF MANAGEMENT ACCOUNTING AND WAYS TO
SOLVE THEM. International Finance and Accounting. 2019(3). p.2.
Adu-Gyamfi, J. and Chipwere, K. Y. W., 2020. The Impact of Management Accounting
Practices on the Performance of Manufacturing Firms: An Empirical Evidence from
Ghana. Research Journal of Finance and Accounting. 11(20). pp.100-113.
Bedford, D. S. and Speklé, R. F., 2018. Construct validity in survey-based management
accounting and control research. Journal of Management Accounting Research. 30(2).
pp.23-58.
falih Chichan, H. and Alabdullah, T. T. Y., 2021. Does Environmental Management Accounting
Matter in Promoting Sustainable Development? A study in Iraq. Journal of Accounting
Science, 5(2), pp.114-126.
Honggowati, S. and et.al., 2017. Corporate governance and strategic management accounting
disclosure. Indonesian Journal of Sustainability Accounting and Management. 1(1).
pp.23-30.
Maheshwari, S. N., Maheshwari, S. K. and Maheshwari, M. S. K., 2021. Principles of
Management Accounting. Sultan Chand & Sons.
Massicotte, S. and Henri, J. F., 2021. The use of management accounting information by boards
of directors to oversee strategy implementation. The British Accounting Review. 53(3).
p.100953.
NGUYEN, H. Q. and LE, O. T. T., 2020. Factors affecting the intention to apply management
accounting in enterprises in Vietnam. The Journal of Asian Finance, Economics, and
Business. 7(6). pp.95-107.
TRUHACHEV, V. I., KOSTYUKOVA, E. I. and BOBRISHEV, A. N., 2017. Development of
management accounting in Russia. Revista Espacios. 38(27).
Online
Types of Managerial Accounting Reports. 2021. [Online]. Available through:
<https://www.completecontroller.com/types-of-managerial-accounting-reports/>.
Cash budgets. 2021. [Online]. Available through:
<https://www.accaglobal.com/my/en/student/exam-support-resources/fundamentals-
exams-study-resources/f2/technical-articles/cash-budgets.html>
8
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