Management Accounting in Unicorn Company - Report
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Added on 2020-06-03
Management Accounting in Unicorn Company - Report
Added on 2020-06-03
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Management accounting
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Management accounting and different types....................................................................1P2 Different method for management accounting .................................................................2TASK 2............................................................................................................................................4P3 Marginal and absorption costing.......................................................................................4TASK 3............................................................................................................................................8P4 Advantage and disadvantage of planning tool..................................................................8TASK 4..........................................................................................................................................11P5 Management accounting system to respond to financial problems.................................11CONCLUSION .............................................................................................................................12REFERENCES..............................................................................................................................13.......................................................................................................................................................14
INTRODUCTIONManagement accounting is a system that managing many information and provision ofaccounting activity. This is control and manage all performance for the employees and financialdecision. This is also preparing management account and report or provide financial andstatistical information about company short term decision in this organisation. This accountingprovide many help relating to the company activity and performances and also evaluatingcoordinate between employees and business enterprise. This accounting find out many types thatcan be increasing effectiveness of its business operation ans developing new ideas ans initiativeplan. The manager of unicorn grocery company may be use the different types of planning toolthat create best report and reducing cost of the operation and help to utilise the many resources.Unicorn grocery company is local company that sell the fresh food and drink items in thisorganisation. This company producing house hold product like body care and general groceryitems. There are no external as well as outsider stakeholder or owner. Management accountinghelp the manager to forecasting company budget with the help of market details. This report findout advantages and disadvantage of planning tools that the manager many be evaluating best tool(Baldvinsdottir and et. Al, 2010).TASK 1P1 Management accounting and different typesManagement accounting: It is a accounting tool that used by the unicorn grocerycompany manager in an organisation and coordinating all business activities. A number of themethod are applied this order and evaluate result of business activities and performances. Thisaccounting collecting many information from the company and use this information to take thebest decision for the enterprise. Unicorn grocery company manager may be applied this conceptand getting impressive result related to the business activity. Management accounting consistsmany function for management like planning, organising, directing and controlling.Types of management accounting There are two types of the management accounting that define the financial statement andcompany performances are as follows:1.Traditional accounting system: This system is very effective that use in past timeperiod and this is use many entrepreneur in this organisation(Bennett and et .al, 2013).1
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