Management Accounting System Zylla Report
Added on 2020-09-08
16 Pages3986 Words80 Views
ManagementAccounting
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 ................................................................................................................................................1P2.................................................................................................................................................2M1 ..............................................................................................................................................4D1................................................................................................................................................4TASK 3............................................................................................................................................4P3:...............................................................................................................................................4M2...............................................................................................................................................6D2................................................................................................................................................6TASK 3............................................................................................................................................7P4:...............................................................................................................................................7M3...............................................................................................................................................8TASK 4..........................................................................................................................................10P5 :............................................................................................................................................10M4.............................................................................................................................................11D3..............................................................................................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONNowadays everyone is striving hard to gain the competitive advantage in other firm.Management Accounting is the most effective tool which can be used in the business for gainingthe competitive advantage. This is the report which is made by the management accountant inorder to gain the sustainable development in an effective manner. Various managementaccounting systems are used in this report (Management Accounting, 2017). However, there is ahigh requirement in order to gain the sustainability in an effective manner. On the basis of theseaccounting systems, various reports are made under this. Net profits are calculated by usingabsorption and marginal costing that can be used. Various planning tools are used in order tocontrol the budgetary systems in an effective manner. This report is made on the Zylla companywhich mainly deals in retail clothing segments and also used in the project which are used in theorganisation for gaining the sustainability.TASK 1P1 Management accounting is the procedure which helps in identifying, analysing,evaluating ans assessing the non-financial information for a particular period of time. However,there is a strong needs to make a certain tools that can be used in order to gain the sustainabilityin an effective manner. The main benefits of the management accounting systems are to gain aneffective decisions in an effective manner. However, there are various management accountingsystems are used:Job costing system: This is the system which does not only calculates the costs of anindividual product. On the other hand, this is the most effective tool that can be used in order togain the sustainable development. Here, the cited company needs to adopt the job costing systemin their production process so that the manufacturing process can be run effectively. Now, thereis a strong need to adopt their tools that can be used for gaining the sustainability. This is analternative use which is to oversee if any kinds of extra costs covered could be billed to theclients. This costing systems is to collect costs during a small unit level. For instance, job costingis effective for deriving cost of making a custom machine, designing a software program, makinga building, or production a small batch of the products. Job costing systems covers the followingaccounting activities:1
Materials: This covers cost of factors and after that assign these kinds of costing to aproduct once the various factors are used.Labour: Employees charges their time to the particular jobs, that are then allotted to thejobs which are relied upon the labour cost of the employees (Amoako, 2013).Overhead: This covers overheads costs in cost pools and after that this allocates thesekinds of costs to the jobs.Cost accounting system: This is the system which can be used by the organisation inorder to lower the cost of the product efficiently. However, this management accounting tools areused in order to gain the competitive advantages in an effective manner. Cost accounting systemis the main crucial tool that can be used by the organisation in order to lower the cost in aneffective manner. The production department of the cited organisation would get to know abouttheir business objectives in an effective manner. Henceforth, there is a strong need to adopt thisaccounting system in the organisation's process for gaining the competitive advantages in aneffective manner.Price optimising systems: This is the most effective tool that can be used by themanagement accountant in order to know the price of the competitors in an effective manner. Byknowing the price of the rivals' product, cited organisation could fix the price of their productand gain the competitive advantage in an effective manner. This is the system that can be used bythe organisation for effective services.Inventory management systems: this is the system which can be used by theorganisation for gaining the sustainable development in order to gain the pre-set objectives. Byusing this technique, company could effectively use their available resources in an effective way.Now the cited company would get to know about the performance of the cited organisation'sinventory so that their business could gain the sustainability in an effective manner.These are the systems that would help out gain the sustainable development in an effectivemanner. Now, there is a strong chance to know about the business in an effective manner byusing management accounting systems.P2Management accounting systems are the most effective tools which can be used by theorganisation in order to make the reports for the concerned departments. There are so many2
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