Managerial Accounting and Reflective Journal

Managerial Accounting
and Reflective Journal

ABSTRACT
As per the below report it is analyzing that managerial accounting is essential part of the
accounting in which consist of budgeting procedure that apply by the every type of organisation.
This procedure is mainly based on the planning and controlling all the activities of business in
systematic manner. This report based on the peer reviewed article that based on the Indonesian
government which is using this procedure for the country development.

Contents
ABSTRACT................................................................................................................................................3
INTRODUCTION.......................................................................................................................................5
MAIN BODY..............................................................................................................................................5
1. The budgeting process.........................................................................................................................5
2. Budgeting process satisfies the purpose of planning, controlling and evaluating performance............6
(3) Top down budgeting and bottom up budgeting..................................................................................7
(4) Traditional budgeting practices are constrain on creativity................................................................9
(5) Recommended budgeting for contemporary organizations for planning and control purpose..........10
CONCLUSION.........................................................................................................................................10
REFLECTION..........................................................................................................................................12
(1) Reflection on the peer reviewed article............................................................................................12
(2) Reflection on the research experience..............................................................................................12
(3) Reflection on learning......................................................................................................................12
REFERENCES..........................................................................................................................................14

INTRODUCTION
Managerial accounting is the method to classify, calculate, assess, interpret and convey
financial data to employees to achieve the objectives of the corporation. It differs from financial
reporting since managerial reporting's potential function is to support the organization's corporate
clients in making better strategic business decisions (Teufel Jr, 2018). Management accounting
deals with the collection of data to enable organizations to assess and prepare for potential
business objectives. Managerial accounting is created to help supervisors prepare for the
potential time period, make the company's choices, and evaluate whether their proposals and
judgments are right. This report based on the peer reviewed journal article and topic is use of
budgeting as a management technique for managing resources. For this selected article of
“Ceremonial budgeting: public participation in development planning at an Indonesian local
government authority”. This report consist of budgeting process and as per the article define
about the budgeting journal scarifies the reason of controlling, planning and evaluating
performance. Moreover, broadly used of top down budgeting and bottom up budgeting and use
in the organisation. Traditional budgeting practices are constantly is better spent and provide
recommendations. At the end, reflect on the findings, experiences and recommendations on this
budgeting process.
MAIN BODY
1. The budgeting process
The budgeting process could be described as a structured business investment
encompassing the advancement, intervention and management of a strategy for the supply of
care and real property which include productive assets, including such time and cash, over a
specified time to ensure required revenue objectives (Tracy, 2008). In different terms, the
budgetary control is the utilization of capital that can then be used to accomplish the company's
defined or assigned goals in the standard manner. Budgeting is the preparation method for
corporate plans by setting financial targets and bringing these into a structured schedule. In other
words, budgeting is the method of determining a corporate accounting targets and developing a
strategy to attain those targets.