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Managerial Accounting

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Added on  2020-10-05

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This report will cover various topics like as different types of managerial accounting system, benefits, accounting management method, planning tools and its advantages and disadvantages, accounting system that helps to find financial problems and management accounting tools that will help to be maintain sustainability. LO1 Management accounting & different type of management accounting system Management accounting is the managerial process which help the manager to handle their financial information in order to take any decision that further helps in to achieve business objectives & goals.

Managerial Accounting

   Added on 2020-10-05

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Managerial Accounting_1
ManagementAccounting
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Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1LO2..................................................................................................................................................3LO3..................................................................................................................................................3LO4..................................................................................................................................................6CONCLUSION................................................................................................................................7REFERENCE ..................................................................................................................................8
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INTRODUCTIONManagerial accounting is the base of any enterprise which is used to manage or controlthe provisions of accounting data and provide accurate information. In additional, it is theprocedure of evaluating business expenses and operations to make internal financial reports incontext to accomplish corporation's goals. To understand the importance of managerialaccounting Unilever has been selected that is UK based company and is providing food andbeverages products, beauty care and home care products (Ahmad, 2012). This report will covervarious topics like as different types of managerial accounting system, benefits, accountingmanagement method, planning tools and its advantages and disadvantages, accounting systemthat helps to find financial problems and management accounting tools that will help to bemaintain sustainability.LO1Management accounting & different type of management accounting systemManagement accounting is the managerial process which help the manager to handletheir financial information in order to take any decision that further helps in to achieve businessobjectives & goals. This accounting is useful for the internal analysis and it includes themanagement reports which provide accurate & exact information. In the Unilever company,manager take important decision on the basis of financial information. There are some differenttype of management accounting system which followed by the managers are discussed below:Cost Accounting System: It is a managerial framework which help the manager toidentify the cost of each unit. Manager analyse the cost through evaluating their profit margin,involuntary valuation and try to reduce product cost and control it. Manager of Unilevercompany, follow this system to manager their product cost and its required for the organisationto control each unite cost. Which further helps in Unilever to achieve their business goals &objectives and help the manager to take effective decision (Bromwich and Scapens, 2016). Inventory management system: It is a system or software which help the organisationto track their inventory level on regular basis. Because physical counting will take enough timeso this system help the manager to improve their warehouse system. In the Unilever company,manager use the different devices to keep track their items such as barcode scanner or software.1
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