logo

PART 13 Introduction to Management Accounting Systems and Reporting

   

Added on  2021-02-19

13 Pages4181 Words225 Views
 | 
 | 
 | 
MANAGEMENTACCOUNTING
PART 13 Introduction to Management Accounting Systems and Reporting_1

Table of ContentsINTRODUCTION.......................................................................................................................3TASK 1............................................................................................................................................3PART 1............................................................................................................................................3A) Discuss Management accounting and provide essential requirements of variousmanagement accounting system types........................................................................................3B) Explain various methods used for management accounting reporting..................................5C) Evaluate benefits of management accounting systems along with their application.............6D) Critical evaluation of how management accounting systems and reporting is integratedwithin organisational processes...................................................................................................7PART 2............................................................................................................................................8E) Analysis of different planning tools used in management accounting...................................8TASK 2..........................................................................................................................................10PART 1..........................................................................................................................................10A) Calculate costs using appropriate techniques......................................................................10PART 2..........................................................................................................................................11B) Interpretation of income statements.....................................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12Books & Journals......................................................................................................................12
PART 13 Introduction to Management Accounting Systems and Reporting_2

PART 13 Introduction to Management Accounting Systems and Reporting_3

INTRODUCTIONManagement Accounting refers to one of the method of accounting system in order toprovide all financial as well as non-financial information to the management team. With the helpof this, managers will be able to take effective decisions for smooth functioning of the business.It is quite different from other accounting system as it contains description about both monetaryand non monetary transactions (Songini, Gnan and Malmi, 2013). Apart from this, it is notcompulsory for the companies to implement this system. In order to understand the concept ofmanagement accounting in detail a company is chosen which is Eymen Ltd.In the present reportvarious topics are going to be covered which includes different types of accounting system aswell as accounting reports. In addition to this, various financial statements are going to beprepared in this report by using appropriate costing techniques. At last, various planning toolsand techniques are going to be covered in this report. TASK 1PART 1A) Discuss Management accounting and provide essential requirements of various managementaccounting system types.Management accounting also known as managerial or cost accounting. It refers to themethod used by large number of companies in order to examining business costs so that they canprepare internal financial accounts, reports and records. With the aid of these financialstatements, managers will be able to take effective decisions and attain organisational goals andobjectives in an effective manner. In general, it is the method through which all the financial aswell as non financial data is developed into required information for the whole organisation(Salterio, 2012). There are various types of accounting system which plays very important rolewithin the organisation. Some of the basic and important types of accounting systems used bymanagers of Eymen Ltd. are as follows: Cost accounting system- It is also known as costing system and product costing system.It refers to the framework adopted by large number of firms in order to compute the finalcost of their products. It has been done for profit analysis, cost control and for inventoryvaluation. Cost accounting system gave a base for estimating the cost and value ofdifferent kind of activities conducted within the organisation. If the company do not use
PART 13 Introduction to Management Accounting Systems and Reporting_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Sample Management Accounting : Assignment
|16
|4062
|96

Management Accounting: Methods and Systems
|22
|5488
|27

Management Accounting Report Tech (UK) Ltd
|15
|4675
|37

Management Accounting, Systems and Techniques: Assignment
|18
|5381
|40

Management Accounting Techniques for Financial Statements
|13
|3085
|89

Management Accounting: Methods, Tools, and Techniques
|17
|4334
|303