Management Accounting System and Its Techniques for Multinational Manufacturing Companies
Added on 2022-11-18
15 Pages4013 Words331 Views
|
|
|
Running head: MANAGERIAL ACCOUNTING
Manage
rial
Accounti
ng
September 16
201
9
Manage
rial
Accounti
ng
September 16
201
9
![Management Accounting System and Its Techniques for Multinational Manufacturing Companies_1](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Feu%2F5e37d06a61fc493581be41145d175071.jpg&w=3840&q=10)
MANAGERIAL ACCOUNTING 1
Abstract
The aim of this report is present the discussion related to the management accounting system
and its methods used by the business to improve the operations. The paper is comprised of a
detailed analysis of the tools of the management accounting and the findings of the two
journal articles. The journal articles are related to the management accounting system and its
techniques used by the manufacturing companies. Both articles have represented that
methods or techniques of management accounting are very useful and supporting business in
reducing the cost of business operations.
Abstract
The aim of this report is present the discussion related to the management accounting system
and its methods used by the business to improve the operations. The paper is comprised of a
detailed analysis of the tools of the management accounting and the findings of the two
journal articles. The journal articles are related to the management accounting system and its
techniques used by the manufacturing companies. Both articles have represented that
methods or techniques of management accounting are very useful and supporting business in
reducing the cost of business operations.
![Management Accounting System and Its Techniques for Multinational Manufacturing Companies_2](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fhe%2F32f11b0e190b44a5ba71eda6095be618.jpg&w=3840&q=10)
MANAGERIAL ACCOUNTING 2
Table of Contents
Abstract......................................................................................................................................1
Introduction................................................................................................................................3
Types of Management Accounting........................................................................................3
Activity-Based Costing......................................................................................................3
Balanced Scorecard............................................................................................................4
Just in Time........................................................................................................................5
The relevance of Management Accounting System to the Organization...............................5
Tactical Decision Making..................................................................................................6
The relevance of the Functionality of the System..............................................................7
Compare and contrasting of the findings of the Article.........................................................8
Conclusion................................................................................................................................11
Specific Outcomes...................................................................................................................12
Article 1................................................................................................................................12
Article 2................................................................................................................................12
References................................................................................................................................13
Table of Contents
Abstract......................................................................................................................................1
Introduction................................................................................................................................3
Types of Management Accounting........................................................................................3
Activity-Based Costing......................................................................................................3
Balanced Scorecard............................................................................................................4
Just in Time........................................................................................................................5
The relevance of Management Accounting System to the Organization...............................5
Tactical Decision Making..................................................................................................6
The relevance of the Functionality of the System..............................................................7
Compare and contrasting of the findings of the Article.........................................................8
Conclusion................................................................................................................................11
Specific Outcomes...................................................................................................................12
Article 1................................................................................................................................12
Article 2................................................................................................................................12
References................................................................................................................................13
![Management Accounting System and Its Techniques for Multinational Manufacturing Companies_3](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fxq%2Fb8ffa6a7c8aa4325a5520293685ca999.jpg&w=3840&q=10)
MANAGERIAL ACCOUNTING 3
Introduction
Management accounting is considered to be a course of creating reports and accounts that
provide timely as well as precise financial data to the executives of the business for making
long-term and short-term decisions (Juras, 2014). It recognizes, evaluates analyses, interprets,
and communicates the data for allowing an organization to chase its objectives. Many
businesses use management accounting in order to adapt its cost control devices as it helps in
reducing the prices of the products (Merchant, 2012). This concept helps the business in
increasing efficiency. The intent of this report is to identify the three methods of management
accounting discussed in the presented case with the title "Newly Implemented Modern
Management Accounting System in a Multinational Manufacturing Company". The paper is
also being presented to highlight the concept of management accounting and its relevance
with the multinational company specified in the case study. Besides this, the paper is
comparing the findings of the case study with another article with the title Management
Accounting and Organisational Change: An Exploratory Study in Malaysian Manufacturing
Firms in order to identify the significance of management accounting techniques and
methods.
Types of Management Accounting
Activity-Based Costing
ABC is the technique of costing that allocated the overhead and indirect costs to the
associated services and products. This costing accounting method identified the connection
between the manufactured products, overhead activities, and cost, allocating direct costs to
the products less randomly in comparison to the approaches of traditional costing (Garrison,
Noreen, Brewer and McGowan, 2010). But, few of the indirect costs, like the salary of the
Introduction
Management accounting is considered to be a course of creating reports and accounts that
provide timely as well as precise financial data to the executives of the business for making
long-term and short-term decisions (Juras, 2014). It recognizes, evaluates analyses, interprets,
and communicates the data for allowing an organization to chase its objectives. Many
businesses use management accounting in order to adapt its cost control devices as it helps in
reducing the prices of the products (Merchant, 2012). This concept helps the business in
increasing efficiency. The intent of this report is to identify the three methods of management
accounting discussed in the presented case with the title "Newly Implemented Modern
Management Accounting System in a Multinational Manufacturing Company". The paper is
also being presented to highlight the concept of management accounting and its relevance
with the multinational company specified in the case study. Besides this, the paper is
comparing the findings of the case study with another article with the title Management
Accounting and Organisational Change: An Exploratory Study in Malaysian Manufacturing
Firms in order to identify the significance of management accounting techniques and
methods.
Types of Management Accounting
Activity-Based Costing
ABC is the technique of costing that allocated the overhead and indirect costs to the
associated services and products. This costing accounting method identified the connection
between the manufactured products, overhead activities, and cost, allocating direct costs to
the products less randomly in comparison to the approaches of traditional costing (Garrison,
Noreen, Brewer and McGowan, 2010). But, few of the indirect costs, like the salary of the
![Management Accounting System and Its Techniques for Multinational Manufacturing Companies_4](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fne%2F6e8e023abfa7415490a09c400cfe945d.jpg&w=3840&q=10)
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Importance of Management Accounting in Competitive Business Environmentlg...
|15
|3716
|81
Importance of Activity Based Costing in Organizationslg...
|16
|3907
|242
The Significance of Activity Based Costing in Cost Management: A Review of Two Research Studieslg...
|14
|3777
|124
Management Accounting System and its Approaches for Business Developmentlg...
|17
|4277
|211
Activity Based Costing (ABC) Model Implementation in Dominos Enterprise Limitedlg...
|13
|2559
|112
Management Accounting Report on Activity Based Costing (ABC) Modellg...
|15
|3902
|483