Management Accounting: Systems, Techniques, and Reporting

Management accounting

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
Understanding of management accounting systems....................................................................1
Different methods used in management accounting
reporting......................................................................................................................................2
Benefits of various kinds of systems...........................................................................................3
Critically evaluating
of MA systems and reporting integrated within company..........................................................4
TASK 2............................................................................................................................................4
Absorption and marginal costing to prepare income statements.................................................4
Accurate application of range of management accounting techniques........................................6
Accurate application and interpretation of data for a range of business activities......................7
TASK 3............................................................................................................................................7
Advantages and disadvantages of different
types of planning tools used in budgetary control......................................................................7
Analyse of planning tools and their
application to prepare and forecast budgets................................................................................9
TASK 4............................................................................................................................................9
Management accounting systems to respond to financial problems............................................9
Role of management accounting in responding to financial problems......................................11
Use of planning tools to respond financial problems.................................................................11
CONCLUSION..............................................................................................................................11
REFERENCERS ...........................................................................................................................12

INTRODUCTION
In modern business era, the procedures related with gathering, reporting, summarizing,
analysing and assessing the overall internal information of a company which facilitate the
manager in order to make precious decision is known as management accounting (Abernethy and
Wallis, 2018). In fact, it is the processes of identifying, calculating, analysing, assessing and
reporting financial information to meet organisation goals. This process is valuable in making
effective policies for company so that future performance of entire staff member and different
processes can be improved. In order to better know the importance of MA Unilever have been
selected that is basically going under reconstruction. The respective company is a oldest MNC
producing 400 brands that are delivered around 190 countries. Company products provide us
with a remarkable chance to bring about meaningful change, expand business and accomplish
main goal to make sustainable living place for entire customer.
In this report, different MAS and reports with their importance to company are
elaborated, costing techniques in order to improve the net profit, several planning tool which
help in controlling budgets and resolving financial problems. In addition report also cover the
comparison of crucial system of management accounting that are support in detecting the
financial issues and making effective plans to resolve these problems.
TASK 1
Understanding of management accounting systems
Management accounting is an information system connected with method of collecting
financial and non-financial data in order to produce inner reports of different aspects. The main
role of MA is that based on internal documents, corporate managers are able to take appropriate
action for corporate success in the appropriate time to attract more and more stakeholders. It also
help in making accurate planning, controlling and decision making which support in proper
utilisation of resources and employees. Manager properly plans about the activities and make
them profitable in order to increase the overall productivity of company. They usually makes
effective decision and tries to control excess usage of available resources, funds to increase
overall profit margin (Alawattage, Wickramasinghe and Uddin, 2017). There are number of
essential MA system that play a crucial role in making company productive and profitable. Some
of these are discussed below:
1