Management Accounting Systems & Techniques - Assignment
17 Pages4666 Words346 Views
Added on 2020-12-09
Management Accounting Systems & Techniques - Assignment
Added on 2020-12-09
ShareRelated Documents
Management AccountingSystems & Techniques
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1 Management accounting and its different types....................................................................1P2 Methods for management accounting Reporting...................................................................3M1 Benefits of management accounting system........................................................................4D1 Critical evaluation on management accounting report integrated within organisationalprocess.........................................................................................................................................4TASK 2............................................................................................................................................4P3 Cost calculations to prepare an income statement ................................................................4M2 A range of management accounting techniques...................................................................7D2 Analysis and Interpretation of data.......................................................................................8TASK 3............................................................................................................................................8P4 Advantages and disadvantages of different types of planning tools for budgetary control...8M3 Analysis on use of different planning tool for preparing and forecasting budgets...............9TASK 4............................................................................................................................................9P5 Comparison on how organizations are adapting management accounting system to resolvefinancial problems.......................................................................................................................9M4 Analysis on how management accounting lead to sustainable success..............................11D3 Evaluation of how planning tools respond to solve financial problems.............................12CONCLUSION..............................................................................................................................12
REFERENCE.................................................................................................................................14
INTRODUCTION Management accounting refers to a process of preparing reports and accounts in acompany. It provides necessary information which is used for further planning and controllingdecisions. In context with small organizations, this concept helps in monitoring businessperformance (Kumarasiri and Jubb, 2016). The present report is going to make a discussionabout management accounting with its various methods like planning and measurement tools.For this purpose, Aridri is taken, which deals in manufacturing sector and engage business inhand dryer production. This assignment highlights use of different planning tools for budgetary controls, whichfurther help in preparing and forecasting budget of company. An explanation about differentmanagerial accounting reports like budget, job cost, inventory and more is also given. Alongwith this, an income statement is prepared on the basis of calculations of costs by usingabsorption and marginal costing methods. A comparison is also made to show how companiesunder small sector use management accounting system for resolving financial issues. TASK 1P1 Management accounting and its different typesThe concept of Management accounting can be defined as process of preparing reportby which performance of business can be analysed. It provides timely and accurate informationto managers of company so that they can take short-term and long-term decisions accordingly.Moreover, it determines, analyses, measures, interprets as well as communicates information thatmakes an organisation able to achieve their set goals. In an organisation, management accountingplays different role like forecasting the future and cash flows, making decisions, understandingperformance variances and analyse rate of return (Pavlatos, 2015). In context with Aridri, as itdeals business in small sector of UK so, it is necessary for managers of this company to timelyprepare such reports. It will help in managing accounts and preparing budget in appropriatemanner. Aridri is considered as first hand dryer manufacturing company in the world, whichreceives Quiet MarkTM from Noise Abatement Society. It uses unique and latest technologies inproduction field which extend lifespan of hand dryer products. So, to enhance and create morevalue of business, this enterprise uses management accounting system. In this regard, an1
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Management Accounting & Its Typeslg...
|16
|5106
|277
(DOC) Management Accounting | Assignmentlg...
|17
|5646
|124
(PDF) Management Accounting Assignment - Airdrilg...
|16
|5195
|92
Management Accounting - Deskliblg...
|16
|5250
|245
Management Accounting - Airdri Ltd Assignmentlg...
|20
|5346
|45
Management Accounting Systems & Techniques INTRODUCTION 1 TASK 11 P1 Management Accounting Systems & Techniques INTRODUCTION 1 TASK 11 P2 Management Accounting Systems & Techniques INTRODUCTION 4 D2 Ilg...
|19
|5041
|500