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Australian Managerial Accounting

   

Added on  2021-02-21

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MANAGERIALACCOUNTING
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ABSTRACTThe project report summarise about different kind of management accounting systems inthe aspect of corporation as well as way companies manage their financial performance. Inaddition, the report summarise about impact of accounting systems on managerial personnel andoverall performance of companies that helps in improvement in efficiencies of operations.
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Table of ContentsABSTRACT.....................................................................................................................................2INTRODUCTION...........................................................................................................................4MAIN BODY...................................................................................................................................41. Different types of management accounting methods from the given case study....................42. Relevancy of management accounting system with contemporary organization...................63. Role of management accounting system in competitive market and uncertain businessenvironment.................................................................................................................................84. Learning outcomes based on research findings which will be helpful for Australianmanagement accountants............................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
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INTRODUCTIONThe term managerial accounting can be defined as process of gathering, assessing,analysing, interpreting and spreading the financial informations to the internal stakeholders ofcompanies for better decision-making (Fellows and Liu, 2017). This accounting varies fromfinancial accounting because, it is linked with helping to managers in order to take effectivedecisions, while financial accounting is beneficial for internal and external stakeholders. The aimof this project report is to describing various kind of management accounting methods and manymore. Basically, the project report is based on two articles that includes about implementation ofmodern management accounting systems in different countries. The selected article is about amultinational manufacturing company in that modern management accounting systems areapplied. Under the project report, management accounting techniques in given case and evaluationof relevancy of MAS with case company is done. As well as an another real life company isselected from an article and compared with given case company. In the end part of report, fouroutcomes are explained from selected two articles. MAIN BODY1. Different types of management accounting methods from the given case study.The term management accounting can be defined as a field of accounting that isassociated with preparation of wide range of internal reports by using financial and non financialinformation (Adebambo and Yan, 2017). This accounting is useful for only to internalstakeholders because provided information helps only to managers in better decision-making aswell as in strategy preparation. Basically, this accounting is based on various kind of accountingmethods. Herein, the aspect of provided case-study the multinational company is using belowmentioned accounting methods that are as follows such as:Just in time ( J. I. T. )- It can be defined as a kind of inventory strategy that guidesorganisations in ordering and receiving materials as per requirement in productionprocedure. The main objective of this approach is to minimising additional cost inproduction that leads in savage of money to companies. Eventually, this is essential ofcompanies to order or purchase new material on the basis of availability of material and
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