Management Accounting Assignment - Brooklands Hotel

Added on - 21 Jul 2020

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Management Accounting
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Management accounting system and provide essential requirement of various managementaccounting system.......................................................................................................................1P2 Explain various methods for management accounting reporting..........................................3TASK 2............................................................................................................................................5P3 Explain cost with suitable method with income statement and major difference betweenmarginal costing and absorption costing.....................................................................................5TASK 3............................................................................................................................................8P4 Explain various kinds of planning tool for budgetary control with advantages anddisadvantages..............................................................................................................................8P5 Use of managerial accounting system in order to respond various financial problems andissues.........................................................................................................................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONManagement accounting is a process through which an association become able to takeappropriate decision for development of business (Agrawal and Cooper, 2017). It is one of ashort term financial analysis of business through which an organisation become able to takeappropriate decision won deviations which arise in an association. It is one of a major aspectwhich represent about internal stakeholders which enables in gain better suited outcome. Thisproject is based on Brooklands Hotel whom are one of a greatest service provider in UnitedKingdom. Thus, they want to implement a management accounting system into a business so thatchances of better and effective operations get enhance. For this purpose, various managementaccounting system get demonstrate by business so that it support in better working (Bennett andJames, 2017). Along with this, various management accounting techniques will lead to manageoperations and remove differences. Moreover, planning tools play an effective role inmanagement accounting system which need to understand by managers.TASK 1P1 Management accounting system and provide essential requirement of various managementaccounting systemFrom:Management Accounting OfficerTo: General Manager of Brooklands HotelSubject: Report on management accounting system essential requirement into businessManagement is a basic concept of every business which need to understand by senior authorityproperly so that suitable and appropriate strategies lead to get frame. It is important to maintainappropriate records of each and every concern of business which enables in taking better andlong term decision of business which reflect positive outcome. In case if any financial deviationarise, business managers need to understand them properly and take suitable judgement earlierwhich support in take beneficial outcome. Brooklands Hotel are one of a small hospitalityassociation in London where they need to implement management accounting system intobusiness for taking better and support decision. This process will lead to support business inorder to improve efficiency of organisation as well as remove all short comings as well. Amajor motive or benefit which reflect by MAS to Brooklands Hotel is that operations becomemore effective and efficient in nature. Although, with this report, essential requirement and1
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