Management Accounting Techniques: PDF

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Management AccountingProject 2
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1: Use of appropriate techniques of cost analysis to formulate income statement..............11.2: Wide range of management accounting techniques........................................................31.3: Interpretation of draw results from incomes statements.................................................3TASK 2............................................................................................................................................42.1: Merits and demerits of using planning tools...................................................................42.2: Assessment of expenses for July and August..................................................................42.3: Purpose of using cash budget..........................................................................................5TASK 3............................................................................................................................................63.1: Effective use of accounting tools to examine financial problems...................................63.2: Analysing vital measures to overcome financial problems.............................................73.3: Evaluation of planning tools used in management accounting.......................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONThis particular part of management accounting provide crucial information about allessential costing method those are used for the purpose of calculating net profit of UCK groupPlc. It is necessary to record financial transaction in their respective set format so that maximumchances of getting valuable outcomes can be enhanced. This project report is entirely targetmerits and demerits of using planning tools for controlling budget are explained under thisreport. Purpose of using cash budgets are analyse properly in this specific project module(Tessier, and Otley, 2012). All kind of financial issues those are present in cited company areevaluated by using certain ratios to determine current financial position during the period oftime.TASK 11.1: Use of appropriate techniques of cost analysis to formulate income statementCost is an essential aspect for an organisation. It is used to determine total cost UCKgroup Plc is investing for the purpose of producing products and services during the time. Cost isrelated either directly or indirectly with production process. It seems to be value of amountwhich is given to get something. The role of project managers is make use appropriate costs thatare essential for examine overall amount on production of one units of products for the company.They required regulating planning into order to manage and control their additional cost whichenhanced efficiency as well as profitability at the same time. It has been identified that cost isaffecting manufacturing of furniture and other goods of UCK group plc. They motive behindusing effective costing techniques is to make valuable decision to manage their financialoperation (Van der Stede, 2015). By the help of this, whole productivity can be analysing inorder to increase growth and stability for the company during the period of time. There aredifferent types of costing techniques that are essential in analysing current management positionand other essential aspects those are related presented with UCK. Some crucial techniques arediscussed underneath:Absorption costing: According to this particular costing method which is applicable at the timeof production of products. It consists of both variable and fixed cost because of this it is said tobe full costing methods. In accordance with making vital decision for increasing profitability for1
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