Management Accounting Functions and Systems

This assignment delves into the critical functions of management accounting, exploring its role in providing financial information for internal decision-making. It further examines different types of management accounting systems employed by organizations to plan, control, and evaluate their operations effectively.

Managing a successful
business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aim and objectives................................................................................................................1
TASK 2............................................................................................................................................2
P2 Project management planning................................................................................................2
TASK 3............................................................................................................................................4
P3) Work break down structure and Gantt chart to provide time frame work...........................4
TASK 4............................................................................................................................................1
P4 Research by implementing methodology:.............................................................................1
TASK 5............................................................................................................................................3
P5. Evaluation of project outcomes:...........................................................................................3
TASK 6............................................................................................................................................9
P6) Recommendation and Suggestion for the project ................................................................9
TASK 7..........................................................................................................................................10
P7) Prepare a reflective report...................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The main aim of business is to analyse gaols and objectives which are helpful in
achieving competitive advantages at market places. Plans and policies should be developed
which helps in enhancing firms in order to achieve success and growth. Digitalisation helps firms
to develop innovative ideas by which business operations are completed effectively. Firms
should change their operations according to new technologies. Company can gain sustainable
competitive advantages by making their product different from other rivalry firms which are
operating at market places (Doherty, Ashurst and Peppard, 2012). Plans and policies should be
adopted in order to execute advanced technologies and execute all business operations
accordingly. Holiday Inn hotel which is providing quality services to all their potential clients
and offering luxurious facilities to their potential clients. This report contains the study about
aims and objectives of selected business which helps them to achieve good results. Management
plans are useful in executing all business operations in effectual and planned ways. Techniques
which are used in collecting data and analysing them are useful in measuring the final results and
achievement of outputs.
TASK 1
P1 Aim and objectives
The present business conditions are becoming more and more complex and it has become
important to adopt the new technology so that accordingly work can be carried out. As there are
many competitors in the same field it is required that each unit perform their task in a manner
that resources are utilised to their full extent. For same it is required that a good technology is
used which is capable of providing competitive advantage to the management (Zimmerman and
Yahya, 2011). Digitalisation with itself brings many other applications like the cloud facility
which helps in transferring data from one place to another without having any issue of security as
the data is protected. Apart from this with the help of same it has also provided an advantage of
effective communication as person can interact with another easily and can transfer the message
even if the receiver is not present at the same time. With the help of this new and latest
technology Holiday inn can provide better facilities to its costumers and can give the required
knowledge to its clients which will further help in developing better costumer relation
(Macintosh and Quattrone, 2010).
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Topic – To implement the digital technology – Case study of Holiday Inn.
Background of project
To develop and expand is the main objective of ever business entity. For same it is
necessary that whenever there is an invention of new technology in the market it is adopted in
the operation as only than a particular entity can make its position in the industry. By using the
digitalisation customer services can be improved and also quality information can be secured
which will help in developing the efficiency of operations. With the complexities of the projects
it has become crucial tat past records are kept secured so that they can be used to take decision
for future (Simons, 2013). Apart from this through digitalisation marketing has also become
effective as more options are now available with the enterprise to interact with the customers and
to provide them with the latest changes made by refereed organisation in their code of conduct or
facilities.
Aim : Increasing the use of new technology
Objective :
 Evaluate the effect of digital technology
 To understand the importance of digitalisation
 To realise the requirement of digital process in present working
Research Question
 Does digitalisation has positive effect on company
 How digital technology helps in achieving organisation objective
 How present operations can be more effective after implementing digital technology
TASK 2
P2 Project management planning
It is a process in which all the associated concepts with the research are evaluated so that
accordingly arrangements can be done. This way it becomes more easy to complete the
investigation as required and goals can be accomplished. As different activities need to be
performed while conducting a research it is necessary to maintain balance and coordination
among them which is possible only if planning is done in advance. Under this process the cost,
scope quality, budget is determine which than act as a standard for the whole investigation
(Baldvinsdottir, Mitchell and Nørreklit, 2010). As per the refereed organisation it wish to
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enhance the scale of its operation with an assistance of digital technology for which investigation
is done which is combination of various elements. Some of those are given below:
Nature of research – The investigation topic is of great importance as through this the given
company can experience growth in its scale and can increase its total revenues. By implementing
the digital methods in the code of conduct refereed concern can cover greater market through
going for online options to deliver customer support services. This makes the nature of project to
be complex as a good amount of data needs to be collected which can help in proving that
digitalisation is a positive move (Ward, 2012).
Management risk – Various activities will be conducted during the research as like collecting
the data, selecting the apt source of information, interpretation etc. This make it a bit risky
process as any wrong action may lead to the failure of further processes. Hence the researcher
involved in it needs to ensure that they do not select any wrong alternative in order to avoid the
situation of research failure.
Time – In order to collect the whole quality data it is necessary that adequate time is given so
that no information is missed which can effect the end result. Apart from this sufficient time is
also required to interpret the data which is very time consuming process. Researchers has to go
through all the information provided by them on their own part before presenting the same in
front of the user. Any change if required has to be done in order to increase the value of
produced document (Lukka and Modell, 2010).
Scope – The extent of the research is too wide as data will be collected from different resources
to get the clear image. It will cover various sections like the effects of digital technology, its
importance etc.
Resource – As the research topic is of nature which can have mixed reactions use of both
primary and secondary data will be done so that all the aspects are covered. Information will be
gathered from internet, books where immense data is given regarding the subject concern. Apart
from this reactions of an individual will also be recorded so that it is better understood how
digitalisation is effective for the concern organisation (Bodie, 2013).
Communication – The most important factor that needs to be present while conducting a
research is effective exchange of ideas and thoughts of different researchers among themselves.
In order to miss on any fact and to make correct interpretations it has to be ensured that effective
communication is established so that the result presented by the research report is true and can be
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utilised further. Strategies need to be communicated properly as if they are not well interacted
than deviations in the result of each will take place which will further effect the quality of end
report presented (Otley and Emmanuel, 2013).
Quality control – It is an important factor for any research to be conducted as only providing
data is not important. Giving the correct and quality information is of more priority. Researcher
has to make sure that they maintain good quality of their investigation in order to increase the
utility of the provided text (Garrison and et. al., 2010).
By ensuring all the above factors a successful research report can be presented which has
the capacity to full fill the demands of user. If all the given elements are met than the resources
implemented in the investigation will not go in vain and also will help in developing the scale of
given concern.
TASK 3
P3) Work break down structure and Gantt chart to provide time frame work
Time Management strategies are helpful in achieving business gaols and objectives in
planned ways. This results in effectively completing all business operations. Gantt chart and
work breakdown structures are helpful in completing all activities in specific time frames which
are allotted to them in order to achieve good results.
Work breakdown structure:
It is linked with completing all business operations by diving them in equal ratios in order
to achieve desired outputs in desired time frame. This feature is used by all business in order to
complete their operations in desired times which was allotted to them. This results in
achievement of all business aims and objectives in effectual methods (Gido, Clements and
Clements, 2014). Business use this concept in order to reduce the burden of employees so they
will achieve their targets in specific times. The firms who are dealing at multi level and complex
projects are using this to make the process easier. There worki8ng structures are easily divided
among all the employees in equal ratios. Hotel Holiday Inn is using this methods to distribute
their complex working among all the employees according to their skill and knowledge level.
Thus all activities are execute in desired time.
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(Source: Work Breakdown Structure,2017)
Gantt chart:
This chart is useful in completing all business activities in effective ways. This is an
important strategy used for management of time frames in order to complete the overall task in
planned ways in order to achieve success (Griffin and Pustay, 2012). This is more valuable
factor while designing time scales in which each and every business operations have to be
completed in desired time. Gantt charts are other vital methods used in order to carry out all
business operations in order to assign role sand responsibilities to employees in effective ways.
Hotel holiday Inn is using this chart to complete each operations in desired time and achievement
of competitive advantages at market places by achievement of business gaols and objectives.
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Illustration 1: Work Breakdown

TASK 4
P4 Research by implementing methodology:
If a firm is willing to convene research then in that case, company needs to implement adequate
strategies which is advantageous for the firm. By taking help of methodology, examination could
convert into the logical form (Cinquini and Tenucci, 2010). As a result, firm top level authority
can take judgement in an appropriate manner so that efficiency could be attained.
Fundamentally, the research can be conducted by using two methods: which are discussed as
under:
 Primary
 Secondary
For gathering of the data, the researcher could implement both aspects and this would also help
them in formulating the decisions effectively that could sustain for the long run. Holiday inn is
implementing both research methodologies to accumulate data, at the time of identifying that
digitalisation is essential for them to enhance their firm efficiency. To frame it more effective,
company needs to accumulate information which are primary and secondary (Luft and Shields,
2010).
Primary data: this is the data which is collected for the first time. Which are mostly used by the
firm when the accuracy of the firm is highly required. Primary data can be collected by using any
format like- questionnaire, interviews and observations and so on. This is the very useful
approach, which have 100% accuracy of the accumulated data (Scapens and Bromwich, 2010).
The most important thing of primary data is that it satisfy the researcher needs. The top level
authority of Holiday inn use this technique in order to convene the survey effectively. The
managers uses this technique for making the questionnaire for research and for that company
uses 40 respondents from the market.
QUESTIONNAIRE
The questionnaire is framed by the managers of Holiday INN which are used by them for
making business strategies that are required to be done by the firm for making business
strategies effectively. This research is convened by taking 40 respondents from the potential
markets. The researcher is used the random sampling method while collecting the information.
Name:

Age:
E-mail
Gender:
Question 1: Whether digitalisation is helpful for making business sustainable?
a).Strongly recommended
b).Recommended
c). Don't know
Question 2: Does digitalisation assist Holiday INN to attain its pre-set objectives?
a). Yes
b). No
c). Can't say
Question 3: Did you ever think that digitalisation is an essential part for making business
sustainable?
a). Strongly yes
b). Yes
c).Can't say
Question 4: Whether digitalisation can assist the firm to get its objectives within a time
frame?
a).Yes
b).No
Question 5 Did you believe that Holiday Inn needs to modify their operations?
a). Yes
b). No
c). Can't say
Question 6: Whether company needs to opt adequate methodology to store its
information?
a). Yes
b). No
c). Can't say
Question 7: What would be the long lasting effects by using digitalization?
a). Positive
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b). Negative
C).Neutral
Question 8: Whether the managers of the cited hotel will impose digitalisation for entire
process?
a). Yes
b). No
Question 9: What methods are required to be selected for making appropriate marketing
standard?
a). Traditional
b). Modern
Secondary data: This is the major research method under which the data is gather where the
data requirement is high. There are various ways under which the data can be gathered. These
are: magazines, newspaper, books and journals and so on. But this kinds of data is created by
using published data. This is required when the data requirement is high. It is not guaranteed that
the by using this methods, company could get sound data for making business information.
However, this research technique can render the clue about the market condition (Giovannoni,
Maraghini and Riccaboni, 2011).
TASK 5
P5. Evaluation of project outcomes:
The outcome or final result achieved is assessed effectively which could help in attaining
the firm success. By taking this, this would help in making the judgement process. This is
mandatory for Holiday INN to assess data which has been accumulated by the researcher.
Theme 1. Digitization is helpful for making business sustainable
a).Strongly recommended 34
b). Recommended 5
c). Don't
know 1
3

a).Strongly recommended b). Recommended c). Don't know
0
5
10
15
20
25
30
35
40
34
5
1
Interpretation: Under this, 34% respondents strongly recommended, while 5 respondent only
recommend, only 1 respondent is neutral.
Theme 2. Digitization assist Holiday INN to attain its pre-set objectives?
a). Yes 38
b). No 1
c). Can't say 1
4

a). Yes b). No c). Can't say
0
5
10
15
20
25
30
35
40 38
1 1
Interpretation: 38 respondents out of 40 believe that the digitalisation helps to attain firm set
objectives, while 1 respondent does not believe and 1 does not know about it.
Theme 3. Digitization is an essential part for making business sustainable?
a). Strongly yes 28
b). Yes 8
c).Can't say 4
a). Strongly yes b). Yes c).Can't say
0
5
10
15
20
25
30 28
8
4
5

Interpretation: 28 respondents thinks that digitalisation strongly helps the firm to achieve
sustainable development. While 8 people recommend this statement, and 4 people can't say.
Theme 4. Digitization can assist the firm to get its objectives within a time frame?
a).Yes 35
b).No 5
a).Yes b).No
0
5
10
15
20
25
30
35
40
35
5
Interpretation: 35 people think that digitalisation helps the firm to effectively achieve its
objectives, while, 5 respondent don't think so.
Theme 5. Holiday Inn needs to modify their operations?
a). Yes 25
b). No 14
c). Can't say 1
6

a). Yes b). No c). Can't say
0
5
10
15
20
25
30
Interpretation: Under this 25 respondents think to modify their operations, while 14 people don't
think so. 1 person is not in a situation to say anything.
Theme 6. Company needs to opt adequate methodology to store its information?
a). Yes 32
b). No 5
c). Can't say 3
a). Yes b). No c). Can't say
0
5
10
15
20
25
30
35
Interpretation: 32 respondents thinks about to consider an adequate methodologies while 5
person does not know.
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Theme 7. long lasting effects by using digitization?
a). Positive 37
b). Negative 2
C).Neutral 1
a). Positive b). Negative C).Neutral
0
5
10
15
20
25
30
35
40 37
2 1
Interpretation: 37 person thinks that digitalisation makes long lasting effects within the company,
while 2 people don't think so and 1 person is neutral.
Theme 8. Managers of the cited hotel will impose digitalisation for entire process?
a). Yes 38
b). No 2
8

a). Yes b). No
0
5
10
15
20
25
30
35
40 38
2
Interpretation: 38 respondents thinks that managers needs to opt digitalisation for the entire
process.
Theme 9. Methods are required to be selected for making appropriate marketing standard?
a). Traditional 12
b). Modern 28
a). Traditional b). Modern
0
5
10
15
20
25
30
12
28
Interpretation 12 person thinks to opt traditional method while 28 persons thinks to opt modern
marketing standards.
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TASK 6
P6) Recommendation and Suggestion for the project
According to the above report it has been analysed that cited firms are adopting plans in
order to adopt digital technologies to attract large number of customers who will buy their goods
and services. Various measures are used in order to analyse business performances in order to
evaluate their growth and success factors. This is beneficial in analysing the position of business
at market places. There are various modifications according to technological changes and these
can be achieved by executing business process in effectual ways. There are various tools which
are used for marketing their services in order to achieve effectual results. Digital technology
helps them to expand their business online so customers can book hotels in advance from their
places. Cloud technology is useful in order to access the website from anywhere around the
world and this is very secure system as it is supported by various software which are acting as
security providers (Jeston and Nelis, 2014). This is beneficial in order to operate and mange data
from any places.
Hotel Holiday Inn needs to implement digital technologies in order to increase footfalls
of their customers thus their revenues and profit ratios will be enhanced. The selected firms
should give various discounts to persons if they are using their services by online modes this
helps in increasing their growth factors which results in achievement of higher revenues and
promoting business of firms on larger scales. Firms should develop plans and strategies in order
to make their company at higher levels in economy and achievement of sustainable competitive
advantages. They should times make changes in their plans in order to differentiate their business
operations from other rivalries who are operating at market places and dealing in same business.
Mangers should develop strategies in order to order to share data about growth and success of
business so that persons can review them and analyse if they want to use their services. If
Holiday inn will provide qualitative services to their clients and if their clients are happy this will
results in achievement of growth and development Competitive advantages can be achieved by
reducing their prices or giving discounts on services which are used by persons. There should be
high discounts if persons are using online websites to book tickets than offline book. Thus it can
be said that due to digitalisation things are changing rapidly persons are using online services for
booking hotels as they are leading a busy life. This helps in saving their time which would be
wasted on going to the native place and then book rooms for staying at selected hotel.
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TASK 7
P7) Prepare a reflective report
As per the above study, it has been measured that business planning is most crucial part
which has an eminent role in growth and vitality of a firm. In this research, I analyse that in order
to gain high competitive advantage managers have to identify some factors which can impact
upon its future performance and productivity in target market. They have to prepare an
impressive time management plan so as all activities will be completed before their time
schedule. For this purpose, managers are adopted various tools and techniques which gives
shapes for each and every process that is included in achieving planning process. It is necessary
for a company to endorse new and innovative ideas in order to attain and retain buyers for a long
term period. In order to achieve pre-determined vision and mission of a company, managers have
to provide training and development assistance to their employees. This will also help in
increasing their skills and abilities in an adequate manner.
Holiday Inn recruit well qualified staff members who are able to serve best services to the
potential customers of the firm. It is also emphasised on how to increase brand image and market
growth. In completion of this project, I gathered data from various sources media. This was
improved my current skills and knowledge. I also learned to deal with adverse situation, this will
assists me to become a good leader.
CONCLUSION
From the above report it can be concluded that digitalisation has played an effective roles
at Hotel Holiday Inn by increasing the number of customers who can use their services and
increase growth for firms. Time management plans and policies are adopted in order to complete
each and every task in expected time. Organisation activities are useful in order to analyse
direction in which business will perform their operations. Time management strategies are
effective in order to run activities of all departments in systems so it will not affect their growth.
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What are the Different Types of Management Accounting Systems? 2017. [Online]. Available
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