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(Docs) Management Accounting - Assignment

   

Added on  2020-10-22

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Management Accounting

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Concept of management accounting and essential requirements of its systems....................1P2 Methods of management accounting reporting......................................................................2M1 Benefits of management accounting systems and their applications...................................3D1 Integration of management accounting system and its reports in organisational process....4TASK 2............................................................................................................................................4P3 Ascertainment of costs using techniques of cost analysis.....................................................4M2 Range of management accounting techniques......................................................................6D2 Interpret data for a range of business activities.....................................................................7TASK3.............................................................................................................................................7P4 Advantages and disadvantages of planning tools used in budgetary control.........................7M3 Analyses of planning tools and their application for preparing forecasting budgets...........8D3 Evaluation of planning tools.................................................................................................9TASK 4............................................................................................................................................9P5 Financial problem and techniques to solve these problem...................................................9M4 Benefit of management accounting to solve financial problems..........................................9D3 Planning tools for solving financial issues............................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONManagement accounting is a special branch of accounting which deals with managerialoperations and functions performed in an organisation. To better understand the topic ofmanagement accounting, a construction company is selected that is C & K developments limited.This organisation is a small private limited company which deals in constructing domesticbuildings. Main aim of this report is to identify significance of management accounting conceptby analysing its various techniques and systems. In this project report, various managementaccounting systems are analysed along with methods of reporting. Costing techniques such asmarginal and absorption are used to ascertain net profit and break even point. Budgetary controland its several planning tools are evaluated in order to solve financial issues. Techniques ofproducing financial reports are also discussed in this report. Planning tools are analysed alongwith their advantages and disadvantages to ensure better treatment of financial issues (Amidu,Effah and Abor, 2011).TASK 1P1 Concept of management accounting and essential requirements of its systems C & K developments limited is a construction company and as their managementaccounting officer, the concept of management accounting and its systems are discussed belowin order to provide reliable information to their general manager. Management accounting:It is a process of preparing and presenting managerial accounting information in form ofreports. These accounting operations are the day to day activities which are performed bypersonnel of an organisation. This process helps management to analyse business costs which areincurred in managerial operations. This concept is an aid to managers as it plays a significantrole in decision making. This process is concerned with internal management of a company(Carlsson-Wall, Kraus and Lind, 2015).Types of management accounting systems and their essential requirementsManagement accounting systems are a framework which provides an overview aboutinternal information of a company. These systems assists in developing and interpreting thisinformation so that in can be served to various stakeholders such as employees, directors andshareholders. Some of these systems along with their requirements are given below:1

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