Management Accounting and Systems

This report discusses management accounting and different types of management accounting systems. It explores the benefits of management accounting systems and their application within the company. It also covers the calculation of costs using effective techniques of cost analysis.

Management
Accounting

Table of Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................4
Management accounting and different types of management accounting systems....................4
Different methods which are used for management accounting reporting.................................6
The benefits of management accounting systems and their application within the company....7
How management accounting systems and management accounting reporting is integrated
with organisational processes......................................................................................................8
LO 2.................................................................................................................................................8
Calculation of costs by using effective techniques of cost analysis............................................8
Management accounting techniques and financial reports.........................................................9
Financial reports that accurately apply and interpret the data for several business activities...10
LO 3...............................................................................................................................................10
Advantages and disadvantages of different types of planning tools used in budgetary control
...................................................................................................................................................10
Analyse the use of different planning tools and their application for preparing and forecasting
budgets......................................................................................................................................12
LO 4...............................................................................................................................................12
Compare how organisations are adapting management accounting systems to respond to
financial problems.....................................................................................................................12
Analyse how, in responding to financial problems, management accounting can lead
organisations to sustainable success..........................................................................................15
Evaluate how planning tools for accounting respond appropriately to solving financial
problems to lead organisations to sustainable success............................................................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Management accounting refers to the procedure of presenting accountancy data in order
to design the plans and policies which is adopted by the administration to operate its day to day
activities. It can be an activity of planning, organising, staffing, directing and dominant the fiscal
actionas of the business concern of the firm. It is essential to the administrator of the
organization to maintain the fiscal data and information and also assist in decision making
process. It is different form financial accounting because it will be prepared fro internal
stakeholders. Managerial accounting embrace many facets of account purpose at improving the
attribute of data which is delivered to management accounting about business concern trading
operations metrics (Alsharari, Dixon and Youssef, 2015). This report is based on Volkswagen
which is a German auto-maker and operate its business internationally. This firm was established
in 1937 and headquartered in Wolfsburg, Germany and operate its business in Automotive
industry. This assignment will discuss about management accounting and requirements of
different types of management accounting systems. Further, will discuss about different methods
of management accounting reporting, management accounting methods and proper financial
reporting documents. Advantages and disadvantages of various kind of designing tools that are
used in budgetary control and comparison of organisation which adopt management accounting
system to react to fiscal problems.
LO 1
Management accounting and different types of management accounting systems
Management accounting is a kind of accountancy which is helpful for the administrators
of the organisation to support the to manage the financial activities of the organisation in an
efficacious and efficient way and also support in the activity of determination devising in
different situations. In Volkswagen, the accounting financial manager manager of the company
can use it in manage the financial action like cost invest in manufacturing and others or have the
proper information of the finance which are invested by the company (Bennett and James, 2017).
There are number of accounting system which can be used by the firm in managing the finance
and decision making regarding it. Some of them are defined as beneath:
Inventory management system- In this system, the inventory of the organisations are
negotiated in an appropriate way. In addition to it, it traces the cost which which generates due to

the cost of storage of the goods in warehouses. The main objective of this management
accounting system is to make balance among the demand and supply of the goods of the
organisations. In Volkswagen, the management of the company can use this system under
guidance and with the help of it they can track the record of raw material to manufacturing a car.
The production function will take decision fro manufacturing new products as per the available
quantity of manufactured products like car in warehouse.
Price optimization system- This management accounting system is consisted in the
activity of setting price of goods and services on the base of customers feedback and analysis of
collected information of consumers (Chenhall and Moers, 2015). Generally, it is important for
sales division of the company because with the assistance of it, they set the price of the product
at a level is effective for both seller as well as purchaser. Apart form it, the organisations which
are not used this system of management accounting they face the problems in their business
related to finance like lack of sales and profitability etc. In Volkswagen, the administration of the
company implement this accounting system in their business with the purpose of setting the price
of their products. This help the company in maximising the sales and increasing the level of
profitability.
Cost accounting system- This accounting system is related with holding a brief record of
received cost in different operations. By using this system, the organisation can get information
about their actual financial position and make compression between their actual and estimated
cost. This management accounting system is beneficial for finance function of the company
because with the help of it they can formulate financial plan and make effective allocation of the
financial resources within the business activities. In Volkswagen, the financial team can apply
this system in the business because it help in keeping and managing the manufacturing cost at
minimum level. It is also crucial for the assignment of available finances into the different
production activities.
Job costing system- It is an another kind of management accounting system which is
affiliated to the assigning the manufacturing cost a specific unit of output. Generally, this
accounting system is important for those of organisations in which the portfolio of production is
bigger and their cost is differ from each other (Cooper, Ezzamel and Qu, 2017). So it is
important for determination of cost, loss, profitability of each job. In Volkswagen, the

management of the company can implement it for making evaluation of the cost of each and
every activity of production.
Role of management accounting
There are several role which are played by management accounting system in financial
activities of Volkswagen. Some of them are defined as below:
Helpful in effective controlling- Management accounting id beneficial for entities to
develop effective control over various forms of operations and activities of the business. It can be
do by using effective information from internal report and managers become competent to focus
on that activities which are output in to low profit margins or higher costs (Eldenburg and et. al.,
2019). In Volkswagen, the manager can make control on different aspects in efficacious with the
help of management accounting.
Helpful in effectual planning- Management accounting plays a vital role in developing
effective planning of different kind of available origins. With the help of it, the administrators of
the respective company can monitor future activities that are beneficial for efficacious planning.
In Volkswagen, by using management accounting as a planning tool, different functions of the
firm can do better planning which help in generating internal report.
Different methods which are used for management accounting reporting
Management accounting reporting
These kind of account reportage indicates to those reports which are formulated by the
administration of the company with rte assistance of financial and on financial information to
take the intrinsic determinations for the administration. In Volkswagen, the administration of the
firm can use these kind of reporting systems to formulate several kind of administration
accounting reports. Some of them are mentioned as below:
Budget reports- These kind of reports refers to those those documents which consist the
information and data about the actualised income, deterioration & approximative income,
financial loss and others. These kind of reports are essential to measure the effective
performance with the comparison of actual financial gain or finical loss with the budgeted targets
(Fourie, Opperman and Kumar, 2015). In Volkswagen, the administration can prepare these kind
of reports to monitor their effective performance. With the help of it they can prepare their
budget and the firm can list its all expenses and revenues sources.

Cost managerial accounting reports- These are those types of reports which consist data
and information regarding different cost which are generated due to different activities of the
business. In Volkswagen, with the help of these kind of report, the firm can calculate cost which
are manufactured (Maas, Schaltegger and Crutzen, 2016). These reports also help in offering
elaborated information affiliated to cost like raw product overhead, labour, labour cost etc. Cost
reports allow administrators the capableness to view the cost value of goods verse the
merchandising price. It also assist the administrators to make control and plan profitability.
Performance reports- It refer to those documents which include the information
regarding the performance actions and activities of the organisation. In Volkswagen, with the
assistance of these kind of reports, the firm can measure the actual performance of the company
and it will help them in taking effective decision in forthcoming for the demands and cost
increment. These kind of reports are computed by the management each year to monitor the
performer of the company in the market.
Therefore, these kind of reporting system can be formulated by Volkswagen for the
effective operations of the business activities and operations. It is crucial for the company that
they must be prepare these kid of reports so that they can have information about the cost which
can be incurred by the business activities and monitor the performance of the company etc.
These reports are beneficial to have the information about the internal and external functions of
the firm like, stakeholder, workers, shareholders and other.
Difference between management accounting and Financial accounting
Basis Management accounting Financial accounting
Meaning It is a accounting system which
provides relevant data to the
administrator of the company
to form policies, plans and plan
of actions to operate the
business in effective manner.
It is an accounting method
which concentrator on the
preparation of the financial
statement of accompany to
offer the financial information
to the interested parties.
Objective To help in planing and
determination devising process
by providing brief information
To offer financial information
to externals.

about different matters.
Information Monetary and non-monetary
data.
Monetary information only.
Time frame The reports are prepared as per
the requirements of the
company.
Financial statements are
designed at the end of the
financial year.
User Internal management is the
only user.
Internal and external parties
birth are the user.
The benefits of management accounting systems and their application within the company
Management accounting system Benefits
Price optimization system:  It assist in finding out the customer behaviour in
context of various price range of the product
(Malina, 2018)(Morse, 2015).
 With the assistance of this accounting system,
administrators of Volkswagen can get
information about the purchasing power of the
customers which help in formulating strategy
further.
Cost accounting system:  With the assistance of it, the firm can aware with
the each unit cost.
 It help in minimising the manufacturing cost of
products and formulating plan of action for the
future.
Inventory management system:  With help of this accounting system, the
management of the company can track the level
of inventory of the organisation (Oboh and

Ajibolade, 2017).
 To implement this system, the firm can minimise
the wastage and manage the production level.
How management accounting systems and management accounting reporting is integrated with
organisational processes
Management accounting system and reporting system are related with the business
operation process of the firm. Because, there are various accounting methods and they are
implements by the management of the organisation to negotiate the information and data
regarding the finance which is invested by the different activities of the business. In Volkswagen
different accounting method like cost accounting, inventory management and job costing are
used to manage and control the financial activities.
LO 2
Calculation of costs by using effective techniques of cost analysis
Marginal cost- This method is used by the company to monitor the marginal cost of the firm. By
exploitation this method only covariant cost are advised and fixed costs are neglected (Otley,
2016).
Absorption cost- It is utilised to monitor absorption costs for the company. In is all the fixed
cost are interpreted in to intellection while calculating profits by this method.
a) Before installation of the new machine
Contribution Margin Per Unit =
Sales Price per unit – Variable cost per
unit
40-28 = 12 p.u.
Break even point in units = Fixed Costs/ Contribution Margin per unit
180000/12
Ans. 15000
Break even point in Pounds =
Sales Price Per Unit x Break even point in
units

40 x 15000
Ans. 600000
P/V Ratio = (Contribution Margin p.u./ Sales
Price p.u.)*100 30
BEP from P/V Ratio 600000
b) After installation of the new machine
Contribution Margin Per Unit =
Sales Price per unit – Variable cost per
unit
40-14 = 26 p.u.
Break even point in units = Fixed Costs/ Contribution Margin per unit
(180000+236000)/26
Ans. 1600
Break even point in Pounds =
Sales Price Per Unit x Break even point in
units
40x16000
Ans. 640000
P/V Ratio = (Contribution Margin p.u./ Sales
Price p.u.)*100 65
BEP from P/V Ratio 640000
Since marginals expenditures needs variable costs to measure participation, the
explanation among the discrepancies in gain and loss statistics which are accumulated by
absorption and nominal activities. But absorption costs consist all components like fixed cost and
variable in productivity estimates (Nørreklit, 2017). As per the financial reporting, business
involvements monitor the actual position in the particular accounting year along with gains and
losses. With the statements, the data consisted in the financial reports assists to plan forthcoming

investments along with the formulation of plan of actions that are efficacious for growth and
success of the business.
2 c. Financial statement
Scenario 1.
Without installation
Sales £5,40,000.00
(-) variable cost -£3,78,000.00
Contribution £1,62,000.00
(-) Fixed cost -£1,80,000.00
BEP -£18,000.00
Current installation
Sales £6,00,000.00
(-) variable cost -£4,20,000.00
Contribution £1,80,000.00
(-) Fixed cost -£1,80,000.00
BEP £0.00
Scenario 2.
After installation
Sales £8,00,000.00
(-) variable cost -£2,80,000.00
Contribution £5,20,000.00
(-) Fixed cost -£4,16,000.00
Profit £1,04,000.00
Installed
Sales £6,40,000.00
(-) variable cost -£2,24,000.00
Contribution £4,16,000.00
(-) Fixed cost -£4,16,000.00
BEP £0.00

From the preceding tables, it has been monitored that organization should use new
machines as they are capable to gain £1,04,000 and BEP is £0.00 when the organization sell
16000 units (Otley, 2016). Therefore, when the firm maximize its selling unit, there will be
maximization in the profit margins ration.
Financial reports that accurately apply and interpret the data for several business activities
The administration of Volkswagen frames financial reports with the assistance of
marginal and absorption techniques of cost accounting. Both the techniques have create
favourable and unfavourable impact. The marginal costing method is useful because it has the
feature of making control on the cost by devising the cost into fixed and variable cost. This
method negatively affect because it becomes unrealistic in the case of high fluctuation of
production (Renz and Herman, 2016). The absorption cost is crucial for preparing the income
statement because it consist both cost and unit cost. Apart form it, the disadvantage of it is that it
make complex the calculation cost volume profit analysis. In Volkswagen, the management of
the company can use the absorption technique because with the help of it the company can
effectively analyse and monitor cost and unit cost and with the help of it, the firm can effectively
prepare the income statement of the company.
LO 3
Advantages and disadvantages of different types of planning tools used in budgetary control
Budget is regarded as the precise statements which highlights approximation of financial
expending and revenues for certain time period. It aids organisation in obtaining profit by
figuring the cost of their business entities. In addition to this, it is also defined as the qualitative
statements which is formed for definitive period in order to approximate upcoming time
expenditure and revenue. All organisation has to formulate budgets as this aids them in getting
knowledge about the futuristics risk and profit. Therefore, the Volkswagen manager may able
make its budget by using last one as this assists them to gain more profit and run the entities in
effective and effectual way. Such as they make budget for its raw materials as this helps them to
get knowledge about how much they can spend into its raw materials (Schaltegger and Burritt,
2017). Budgetary Control is considered as the practice that is performed by managers in order to
decide the financial objectives and performance by doing comparison with actual expenses to get

profit. Moreover, there are many planning tools which can be utilised by respective organisation
for budgetary control some of them are described below:
Cash budget: It is regarded as the budgetary planning tools that consists information
related to overall activities such as inflows as well as outflows of cash. This provide assistance to
its business owner in handling capital of networking. In boarded context, the cash budget
represents that how much cash is needed for operating its business (Schuster, 2015). Moreover,
cash budget is comprises of two of two section that are sources of cash as well as usages of cash.
Therefore, the Volkswagen accountants makes this particular budget as this aids its finance
division in order to develop effectual practices of management related to cash. Advantage: The sales budget provide assistance to Volkswagen for finding potential
deficit in quicker time period. It help in identify the amount of cash needed to fulfil
immediate short term obligations without usages of overdraft protection or lines of credit.
 Disadvantage: The main drawbacks of this is that it totally depends on estimation and
also this may be lost in simple way. It may also cause distortions and do not equate to
profit. Cash inflows resulting from security deposits, fines, the scale of capital assess or
any Theo one -off, not suitable activity do not necessarily represent reliable ongoing
sources of revenue.
Sales budget: It is regarded as the kinds of budget that consists information in respect of
expected units of sales and incomes and expenses that may occurs within sells process. Based on
this information, the manager may able to set its plan of actions to accomplish the target desired
sales. Moreover, this is also known as coordination instrument among various department within
firm such as sales, production, advertising, finance and many others. So, Volkswagen accountant
may develop this particular budget that provide assistances to their production department in
order to take corrective actions. Moreover, it have some advantage and disadvantage which are
as follows: Advantage: The sales budget is beneficiary for Volkswagen in delegating resources for
producing many products and sales the in effective and efficient manner with the aim to
realise expected sales.
 Disadvantage: The main drawback of sales budget, it is only completed according to the
last data . Moreover, in some cases the respective organisation can leads towards huge
financial losses.

Production budget: This regarded as the kind of budget that consists information in
relation to expected units of production as well as possible expending that incurs within
procedures of manufacturing (Senftlechner and Hiebl, 2015). As per the this information, the
manager of an organisation can set their plan of action and policies for accomplishing the pre-
decided units of production. The Volkswagen accountants makes production budget that provide
them assistance to production division in order to take corrective actions. Also, it have some
advantage and disadvantage that are as follows: Advantage: This budget is relevant for firm that are involved within manufacturing
system for several products production (Sunarni, 2015). Therefore, Volkswagen can
utilise the production budget in order to do effectual usages of inputs as well as
manufacture products into cost efficaciously. These kind of budgets are help in reducing
production expenditure as their uniform production.
 Disadvantage: The Production budget has some drawbacks such as it is expensive, time
consuming and many more. All these aspects can not be affordable for the smaller
organisation. These kind of budget are time time-consuming because when the company
form these kind of budget they are taking more time.
Analyse the use of different planning tools and their application for preparing and forecasting
budgets
Into the planning control of budgetary control various forms of budgets are included
which aids in formulation of other budgets. Such as Volkswagen, their accountant prepares many
types of budget that are sales, cash and so on. All these budgets are developed in order to make
effectual anticipation of realised outputs. It is only possible for organisation as based on their last
financial information their accountant may become competent to track estimated outcomes for
making other forms of budgets in appropriate and effectual way.
LO 4
Compare how organisations are adapting management accounting systems to respond to
financial problems
It is advised as the types of demoralized conditions where entities can not has adequate
amount of finances for attaining different forms of activities and operations. It is difficult for the
organisation to sort out these issues in to less time differently then this can drives regarding

dissolution of company. There are many forms of financial problems which are suffered by the
Volkswagen. Some of them are mentioned as beneath:
Shortage of sales revenues- It is a financial problem which is increase in the company
due to shortage in the sales revenues because of minimising overall units of sales into graph
(Trucco, 2015). The reason of increasing this problem can be some another issues like
inappropriate capital framework and minimising into financial liquidity. In Volkswagen, this
problem was raise due to its emissions scandal which is related to pollution. This create direct
impact upon the sales of the products of the respective company in term of decreasing the sales.
Enhancement into the amount of whole expenditure- It is also monitored as financial
problem which is faced by several companies. The reason of this specific problem into entities is
ineffective monitory resource management (Weetman, 2019). Due to this, the organisations can
not execute their operations and activities in effective and appropriate manner.
Different techniques which is used to address the financial problems
Benchmarking- It is the chain of actions which is affiliated to the measurement of the
presentation of organisational products, services and various activities in against the another
business which is considered one of the best. It is beneficial to offers the insights about the
internal growth options to implement development fro better execution and breaking down into
different factors to build superior performance after the essential comparison to other business.
In a business, there are mainly two types of betterment that are continuous and dramatic in which
continuous improvement is additive by considering some crucial but small kind of adjustments to
gather essential results. In Volkswagen, the management of the company can use this technique
by setting the standards and accordingly measure performance in order to remain competitive in
market. In respective company, this tool can be enable to find out or evaluate the main areas,
styles and activities by which major development can be done in order to accomplish competitive
edge in favourable way.
Key performance indicators- This is regarded as the most accessible techniques which is
helpful in evaluating value through stating that how appropriately the entities may attain their
targeted goals. Moreover, it is also utilised at various level for analysing the success through
reaching at optimal level. In relation to Volkswagen, with the assistance of this they can able to
analyse the gaps for putting the effective efforts for obtaining possible results. Moreover, this is
categorised into two financial as well as non financial. Financial key performance indicators is

considered as the one of the essential techniques that shows the situations regarding how well an
entities pursue it in terms of profitability as well as revenue (Weygandt, Kimmel and Kieso,
2015). An effective financial KPI can also highlights the real types of updates with aids of
monetary figures like recent ratio, burn rate, cash flow and many others. Moreover, with the aids
of this, respective organisation can formulate several documents for gaining monetary
propositions. Non financial key performance indicators is regarded as an efficacious for entities
which are not important in nature but so much effectual as it has finance based vision as well as
mission statement. Therefore, Volkswagen can also utilise this techniques as it assists them to
measure the performance related to consumer relationship, staff, operations, quality, cycle of
time and many other (Alsharari, Dixon and Youssef, 2015). All these assists them to get
knowledge about their performance and formulate strategies accordingly in order to attain the
objectives in effective and efficient way.
Balance score card- It is a strategy performance management tool which is used by the
company to identify and improve different internal function of the business and their out coming
external results. It used to measure and offer feedback of the organisations. It is effective because
it ensure that the management reporting focuses on the most important strategic issues and helps
companies Moroni the execution of the plan.
Financial governance- It is considered as most effective technique in governing different
aspects of the business and ensure that any conflict monitored in the company requirement to be
reduced as initial level. The action and act of financial governance is defined as a way to collect,
manage, monitor and control relevant financial information in the organisation. It involves the
way that lead the management of the company to track financial issues, control performance and
data. So it help in decreasing financial issues and efficacious phases to minimise these conflicts.
Comparison among two entities to resolve financial problems
Particulars Volkswagen BMW
Financial problems This entity is facing financial
problems shortage of sales
revenues because decrement
occur in the sales units. As the
result, it may be intended that
it does not has effective
It is suffering with the
financial issues of enhancing
overall expenditures cause of
manufacturing high quality
products. As an outcomes, its
liquidity funds are decreasing

amount of finance to run its
business due to its carbon
emissions scandal. So the
people are not buying the
product and sales was
decreased and revenue of its
also minimised.
due to manufacturing high
quality products so people of
each group are not able to
purchase the (Bennett and
James, 2017).
Management accounting
system
It is using price optimisation
system for sorting out its
issues related to finance. It
become possible as it amended
its previous pricing plan of
actions as well as improved
this as per the clients
requirements. As a result, its
sales revenue initiated for
increasing and the issue of
sales revenue shortage have
been resolved.
Its fiscal problem can be sort
out with the help of using cost
accounting system. The cause
of using cost accounting
method (Chenhall and Moers,
2015). The reason of using this
specific system is that it help in
making anticipation of
upcoming expenditures. Apart
from it, the manger of the
company can monitor the cost
by analysing the
manufacturing cost.
Analyse how, in responding to financial problems, management accounting can lead
organisations to sustainable success.
In Volkswagen administrators used the system of management accounting and other
planning tools like benchmarking, Key performance indicator and other for declaring and
devising decisions against the financial problems like mismanagement of money, shortage in
short etc. With the help of all these tools the management employee may competent to determine
or examine adverse situations into entities as well as bringing new changes by effective
determination regarding solving fiscal problems in appropriate way (Cooper, Ezzamel and Qu,

2017). Key performance indicator provide direction to the management to monitor unfavourable
and favourable ways of problems. It will help in overseeing the outcomes which can be gin by
the company by using these tools in the situation of problems.
Evaluate how planning tools for accounting respond appropriately to solving financial problems
to lead organisations to sustainable success
There are various planning tools like cash budget, sales budget and others which can be
used by Volkswagen for making control on the budgetary activities which are conducted to solve
financial issues to lead the company in a sustainable manner. So these kind of problems are help
the respective company to assign the fund to overall business activities and operation in effective
manner so that better result can be get and minimise the options of creating problems in term of
finance.
CONCLUSION
From the preceding data it can be analysed that management accounting is an effective
aspect with the assist of it the organisation can make administration in the financial information
of the company. By using different management accounting system, they can manage the
information about the business operations and activities in which finance has been incurred.
There are different accounting reporting systems and these methods are utilized by the
administration to monitor and analyse the financial and non financial information of the
company. Different planning tool are used by the company for budgetary control so that the
company can prepare budget before operating any manufacturing activity. There are several
financial issues can be featured by a company so there are various management accounting
system which can be used by the company to minimise and reduce them.

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