Management Accounting UCK
14 Pages2890 Words237 Views
Added on 2020-10-05
Management Accounting UCK
Added on 2020-10-05
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MANAGEMENT ACCOUNTING
Table of ContentsINTRODUCTION...........................................................................................................................11.1 Preparation of income statement and calculating the costs by using appropriate techniquesof costs analysis ..........................................................................................................................11.2 Range of management accounting techniques......................................................................41.3 Interpretation of costing techniques and financial reports ...................................................4TASK 2............................................................................................................................................42.1 Describing advantages and disadvantages of disadvantages of planning tools used forbudgetary control ......................................................................................................................42.2 Estimation of the expenses if the number of hours required for July and August byadapting the high-low method.....................................................................................................62.3 Explanation of purposes of budget and preparation of cash budget ....................................7TASK 3............................................................................................................................................73.1 Comparison between the performances of UCK Woodworks and UCK Furniture on thebasis of three performance measures..........................................................................................73.2 Describing how management accounting helps in improving the financial performance oforganisation ................................................................................................................................93.3 Evaluating planning tools helps in reducing the financial problem for accomplishing thesuccess ........................................................................................................................................9CONCLUSION..............................................................................................................................10RFERENCES.................................................................................................................................11.......................................................................................................................................................11
INTRODUCTIONIt is true that the present business life-cycle of each and every organisation requires forsome crucial purposes, the management accounting and its tools for budget controlling and foreffective decision making, devising planning and performance management systems andrendering expertise financial reporting and controlling in order to ascertain the managementformulation and implementation of an organisation' strategy (Alyousef and Alnasser, 2015).These all tasks performed by the managers of the organisation with the help of managementaccounting systems, techniques and its tools. Therefore, the management accounting commonlyknown as the managerial accounting. This report pertain the information about the managementaccounting system, its techniques and its tools with the illustrative example of UCK furnituresoperational data, for the proper understanding of the effectiveness of management accounting inbusiness. TASK 11.1 Preparation of income statement and calculating the costs by using appropriate techniques ofcosts analysis Income Statement by using absorption and marginal costing techniques of managementaccounting are below. 1
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