Management Accounting - Sample Assignment

Management Accounting

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Table of Contents
INTRODUCTION...................................................................................................... 4
MAIN BODY............................................................................................................ 4
Management accounting system and its requirements in business...................4
Methods of management accounting reporting ..........................................6
1Different techniques of management accounting system................................7
Different planning tools of budgetary control system.........................................8
Showing preparation of income statement using various techniques..............10
Different ways in which various business organisations adopts the
management accounting systems in order to respond numerous financial
problems........................................................................................................... 11
CONCLUSION....................................................................................................... 13
REFERENCES........................................................................................................ 15

INTRODUCTION
It is a concept that enables a business organization to plan, organize, monitor and
control each financial activities of the business (van Helden, 2019) It includes analysis of
company’s actual condition and develops effective plans and strategies for the purpose of
helping the company in achieving its set goals and objectives. The present assignment shows
study of an overall management accounting system. It shows the essential requirements of
management accounting system within sent business organization. Further, in the present
study, a brief different description about different methods o management accounting
reporting is also been discussed. The study also shows different planning
tools of budgetary control that helps the managers in their effective
management and plan formation procedure. Furthermore, the assignment
also provides information regarding various management accounting
system that help the managers in enabling the company in developing
efficiency of responding to various financial problems.
MAIN BODY
Management accounting system and its requirements in business
Management accounting system
Management accounting system refers to a part of managerial functions that is concerned
with planning, organizing monitoring and controlling a range of financial activities including
all the monitory and non monitory and non monitory transactions that company incurs for
achieving its set goals and objectives.
Adoption of effective management accounting system helps managers in improving their
own efficiency in planning, monitoring and controlling various financial and non financial
activities of the firm along with maintenance of a range of records of firm (Maalouf and El-
Fadel, 2019). In addition, management accounting system also provides various methods
through which managers can provide all material information to stakeholders of the business.
Types of management accounting system
Management accounting systems are of several types. Each type of management
accounting systems are required to be adopted by the business organization due to several
reasons. Major types of management accounting systems and the their essential requirements
within the business are as under: