Management Accounting System & Techniques

Management accounting
system & techniques

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
TASK 1............................................................................................................................................3
P1.Managerial accounting and various types of MAS: .........................................................3
P2. Several methods utilised for management accounting reporting: .................................5
M1.Several benefits of management accounting system along with their application within an
organisation:...........................................................................................................................6
D1.Integration of different MAS and managerial accounting reporting within an entity's
business processes:.................................................................................................................6
TASK 2............................................................................................................................................7
P3 Calculation of cost using different costing techniques......................................................7
PART 2..........................................................................................................................................12
TASK 3..........................................................................................................................................12
P4. Advantages and disadvantages of different types of planning tools:.............................12
M3. Use of planning tools and applications in preparing and forecasting budgets:.............13
TASK 4..........................................................................................................................................13
P5. Adoption of management accounting system to respond financial problems:...............13
M4. Role of MAS in responding several financial problems and maintain sustainable success:
..............................................................................................................................................15
D3. Planing tools used in solving financial issues:..............................................................15
CONCLUSION..............................................................................................................................15
REFERENCES................................................................................................................................1

INTRODUCTION
Management accounting is defined as the system which is associated with representation
of financial information so that day to day operations of organisation can be executed in most
effective manner. In this manner internal working of the business can be improved and various
internal obligations can be completed (Akpanabia and Ekwutosi, 2021) . Management
accounting system is associated with planning various operational activities for future business
aspects. Managerial accounting is recommended with gaining valuable data so that in broad
sense day to day activities can be executed in most effective manner. In order to get appropriate
knowledge regarding management accounting a medium-sized financial consultancy named
Equilibrium Asset Management is taken which is having various clients such as Ryder
Architecture. Ryder Architecture company is taken which is construction company situated in
UK. This report is providing various types of managerial accounting system and methods those
can be used by the organisation in order to understand purpose of reporting and other constraints.
There are various tools which are being used by an organisation in order to render significant
planning and to provide controlling measures as well. In this manner with the help of significant
tools of management accounting system financial issues can also be resolved by the organisation.
PART 1
TASK 1
P1.Managerial accounting and various types of MAS:
Management accounting: Management accounting system is associated with accounting
entries and the same are being used by business managers in order to execute the process of
decision making and to control various functions including business performance. The major
objective of management accounting is to maximise profits and minimise overall losses so that
various inconsistencies within financial records can be predicted and at the same time important
decisions can also be taken. Using various methods and concepts effective planning can be made
and consistent decisions can be taken.
Management accounting system: This is defined as an integral system which is
implemented within business processes so that to understand business operations and to shape
future as well (Alabdullah and Ahmed, 2020). Within management accounting system various