Management Accounting: Techniques, Systems, and Reports

Management Accounting

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1: Management Accounting Systems........................................................................................1
P2: Management Accounting Reports.........................................................................................3
M1: Evaluation of benefits of Management Accounting Systems..............................................4
D1: Critical evaluation of Management Accounting Systems and Management Accounting
Reporting......................................................................................................................................4
TASK 2............................................................................................................................................4
P3: Calculation of costs...............................................................................................................4
M2: Accurate application of the techniques................................................................................9
D2: Producing of financial reports...............................................................................................9
TASK 3............................................................................................................................................9
P4: Advantages and Disadvantages of Planning Tools................................................................9
M3: Analysis of planning tools..................................................................................................11
TASK 4..........................................................................................................................................11
P5: Comparison of organizations...............................................................................................11
M4: Analysis of response to financial problems........................................................................13
D3: Evaluation of planning tools...............................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Management Accounting refers to the use of the available financial facts and information
which can be derived from the financial statements so that the analysis and interpretation can be
carried out in detail and therefore the decisions can be taken which will help in ensuring the
proper management of funds within the organization (Ajam, 2021). It is thus required from the
management of a firm that it is able to make its use so that the conclusions and recommendations
which can be useful can be derived. Thus, it is quite important for the managers of a firm to
make sure that it is being used and thus is helping in improving the overall level of efficiency
and effectiveness. This report is based on Super Toughened Glass Ltd. It is a Glass manufacturer
in London, England. In this report, a detailed and specific focus will be made on the way in
which the use of Management Accounting can be made so that the right and appropriate
decisions can be taken which will therefore help in the attainment of the goals and objectives in
the future.
MAIN BODY
TASK 1
P1: Management Accounting Systems
It is the process of making provisions of economical data for development of business
and making its functioning more effective as well as accurate (Al-Dmour, Zaidan and Al Natour,
2021). Managers of Super Toughened Glass Ltd. use management accounting system to make
better business decisions. There are several types of management accounting system and some of
them are listed below in context to Super Toughened Glass Ltd.:
Cost accounting system: An accounting system in which cost of a product is determined
and analysed by cost accountant refers to cost accounting system. Managers of Super Toughened
Glass Ltd. use this accounting system to identify cost of glass manufactured so that they can
judge company's viability.
Essential requirements of Cost accounting system of Super Toughened Glass Ltd.
are described below:
 This system is essentially required in company to find out profitable and unprofitable
operations of business so that activities which are generating losses can be easily
removed or converted into profitable activities.
1