Management Accounting Systems and Practices

This assignment delves into the realm of management accounting, examining diverse accounting systems and their practical applications within organizations. It explores the key functions of management accounting, such as planning, control, and decision-making, highlighting its influence on organizational performance. The assignment also touches upon the evolution of management accounting practices and contemporary trends shaping this field.

Managing Successful
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Aims and Goals................................................................................................................1
TASK 2 ...........................................................................................................................................2
P2. Project management planning..........................................................................................2
TASK 3............................................................................................................................................4
P3. Work breakdown structure and Gantt chart to give time frame work..............................4
TASK 4............................................................................................................................................5
P4. Research by implementing the methodology...................................................................5
TASK 5............................................................................................................................................8
P5. Analysis of the project outcomes.....................................................................................8
TASK 6..........................................................................................................................................15
P6. Recommendation and Suggestion for the project..........................................................15
TASK 7..........................................................................................................................................16
P7. Reflective Report............................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17
APPENDIX....................................................................................................................................18

INTRODUCTION
To attain all the business objectives it is necessary that the all the operations should be
performed in better way so that it can bring efficiency at the work place. To ensure that this thing
happens it is required that the organisation should have plan and policies thus defining the way
which has to be used by them to complete any task. The story behind any successful business is
that they have regularly updated and modified themselves according to the changing trends in the
market. In the current scenario adopting new advanced technology has become a necessary thing
and through digitalisation they can develop new innovative techniques at their work place. This
is one of the way through which they can attract a lot customer thus converting individuals into
potential buyers (Doherty, Ashurst and Peppard, 2012). This all assignment highlights the case
scenario of Marine Court hotel, which is a small scale hotel situated in Ireland. It briefs about
the aims and objectives of the hotel and the services offered by them to the guests. Through
certain management plans they can handle and manage the business activities in proper manner.
In also includes the tools and techniques which has been utilised for gathering data and further
analysing them.
TASK 1
P1. Aims and Goals.
All the businesses prevailing in the business environment are complex in nature and to
run them it sometimes become tough for the entrepreneur. To run the company for a longer
period and to set new bench mark in the market it is required that they should adopt new
technological advancement thus defining their services with the help of digitalisation. Bringing
new creativity and innovative services through the technology is necessary because there is
existence of lots of companies who are dealing in the same segment thus the customers only go
to those hotels who are offering something different from the usual services (Zimmerman and
Yahya, 2011). Storing the valuable information and files on the cloud, recording the data on the
computer and transferring it to one place to another are some of the facilities which comes with
the adoption of digitalisation. In the hotel industry communication is one thing on which success
of all the operation is dependent. Through digitalisation Marine Court hotel can ensure that the
communication is interactive and they can also get feedback from this. With the digitalisation the
1

hotel Marine Court can provide unique services to their guests and those who wants to visit the
hotel can gain information about the amenities and services of the hotel through online platform.
Topic:- To execute the digital technology- Case study of Marine Court Hotel.
Background of the Project:-
To increase the market share is the main goal of the business enterprises and they should
have full knowledge of the recent or current technology which is attracting the customers.
Adopting such technology would improve their ranking in the marketing thus giving them a
competitive edge over their rivals. The customer services department can ensure that with this
they are able to protect the personal information of the clients (Macintosh and Quattrone, 2010).
To make a better decision the data which is storage in cloud system is extracted out and then a
effective decision is made. Marine Court Hotel can give information about the laws and
guidelines which they have to follow during their stay in the hotel.
Aim: To introduce digitalisation in some of the other department of the hotel.
Objective:
 To know the impact of digital technology through analysing various operations;
 To understand the importance of digitalisation;
 To realize the requirement of digital process in current working condition.
Research Question
 Does digitalisation has impacted the hotel in positive way?
 How the digital technology is assisting them in attaining organisation goals?
 How the existing activities can be more effective after adopting digital technology?
TASK 2
P2. Project management planning.
To bring the required modification this process plays an important role in this aspect as
through this research can be analysed by keeping the scenario of this. This is a helpful process
which assists them in attaining the business goals as it makes the operations easier for them to
perform. To make the things possible it is required that their should be coordination between the
employees and resources thus making a balance between them is necessary (Simons, 2013). To
make a balance between them their should be development of a plan thus guiding the staff to
2

perform through following the guidelines given to them. With the plan there is mention of the
scope, quality and budget for the activities which has to be performed.
Nature of Research:- The investigation topic which has been decided is aimed to
increase the profits and the overall turnover of the organisation. Through bringing some of their
services on online platform Marine Court Hotel will be able to acquire more market share.
Online portal of the hotel will act as assistance for the customers who have some of queries
regarding any department of the hotel (Baldvinsdottir, Mitchell and Nørreklit, 2010). The nature
of the data is quite complex and there is need of lots of data which has to be gathered and for that
digitalisation can bring best results.
Management Risk:- Gathering of the information, selecting the appropriate source of
information, interpretation and etc. are the activities which has to be done in this. The research
can be affected by various things and things might not go according to the plan thus deviating
from its objectives (Ward, 2012). This will impact the upcoming future process so it is the
responsibility of the research to selects the best strategy which is flexible in handling any kind of
situation during research.
Time:- For the collection of the quality data it is required that the time factor should be
taken in mind thus allocate enough time to complete any task. At the same time any information
which has been missed can be again collected and other than this the researcher will get more
time to interpret the information which they have got from the survey. They should check each
and every part of the research and make sure that each task is done (Jeston and Nelis, 2014) . All
these thing should be done before the plan is presented before the public.
Scope:- The extent of the data is quite large as the data has not been gathered from only a
single source and this is done so that they can get clear knowledge of the scenario. This research
report briefs the impact of digital technology and their significance on Marine Court Hotel.
Resource:- There are chances that the nature of the research may vary according to
different scenario so the researcher has utilised both the primary and secondary sources to gather
the data. The main reason behind doing this is that with this all the areas and different aspects
can be covered with this (Lukka and Modell, 2010). Internet and books are also used to collect
the crucial information. To again knowledge about the effectiveness of digital technology Marine
Court Hotel has taken the feedback from the respondents.
3

Communication: To bring the effectiveness in the research project it is required that
there should be exchange of the ideas and opinion of various researcher in this process. To get
the authentic data it is required that there should be a proper communication. Such thing makes
the research more credible and relevant thus helping the hotel in getting better outcomes. If there
is no proper communication or any kind of interaction there will be variation in the findings thus
hampering the originality of the research (Bodie, 2013) .
Quality Control:- It is one of the most important factor as they are focusing on the
quality of the research which has become their priority. The researcher needs to make sure that
they maintain the quality in the research which they do through using all the resources and tools
which are available with them (Giovannoni, Maraghini and Riccaboni, 2011).
By emphasising all the factors a credible and quality research report can be presented
thus has full capability of fulfilling all the requirement of the user. If they take care of all the
factors which has been highlighted then it can be ensure that whatever resources which has been
used are not going in waste.
TASK 3
P3. Work breakdown structure and Gantt chart to give time frame work.
Time management strategies plays a crucial role in making the organisation reach to the
goals and objectives which they have set. With the help of Gantt chart and work breakdown
structure all the tasks can be performing in time thus gaining a positive outcome.
Work Breakdown Structure:- This is the process in which all the business operations
are broken into equivalent parts with the aim of doing the things in timely manner. By dividing
the tasks into fractions brings efficiency at the work place. In the case of Marine Court Hotel this
thing will significantly reduce the burden on the employees of the hotel as they get maximum
time to perform their duties which automatically brings quality in the work. For the management
of the hotel this can be a major tool as through using this they can ensure that each of the
department gets the equal amount of work (Otley and Emmanuel, 2013). In the scenario, the
management of Marine Court Hotel first look for the abilities of the staff along with the
objectives which has to be achieved and according to it they allocate the tasks which has to be
performed by them.
4

Gantt Chart:- This is one of the advantages that they can use this toll to ensure that all
their business operation are done in proper way. This is normally useful in the case when the
organisation wants to manage the time so that they could finish their activities on time in planned
way. Gantt charts is an important method which are utilised in order to carry out the business
activities in proper way as with it they can distribute the roles and responsibility to the
employees in right manner (Garrison and et. al., 2010). Marine Court Hotel is using this tool or
chart to complete every operations in the set time period so that they can attain the competitive
advantage over their opponents.
TASK 4
P4. Research by implementing the methodology.
If Marine Court Hotel has to get a quality research it is necessary that they should have
proper strategies and their implementation is done in right way. This is the only way through
adopting which they can gain competitive advantage. Adopting a suitable methodology the
investigation can be transformed into a logical form. Doing so will have the positive results as
with this the higher officials of the hotel can take the decision in proper way thus attaining
efficiency at the workplace (Gido, Clements and Clements, 2014). There will be use of both
primary and secondary research methods for this purpose.
In the gathering of the data the researcher have the option of adopting both the methods
as with this they get assistance in analysing the decision properly and this can be used for the
future purpose. In the case of Marine Court Hotel they have decided that they will be utilising
both the techniques in order to know the impact of digitalisation on the firm. Through using both
the resources they can show the relevancy of the research.
5

Primary Data:- This is most crucial data as through this only the interpretation and
finding will be made. Normally this kind of data is collected in the starting time and in the case
when the research is looking for a deep research on any topic. To gather such data there is use of
the questionnaire, interviews and observations (Griffin and Pustay, 2012). It is a handy process
as the credibility of the data is high and accurate and with this the satisfaction level of the
research needs can be achieved at the same time. In this scenario the researcher is utilised this
method of research to make the questionnaire so that he can get responses from people. The
respondents from which the data will be collected are 50 in number.
QUESTIONNAIRE
This is a kind of questionnaire framed by the researcher of Marine Court Hotel and so that they
can develop a business strategy. This is quite important because this make the business strategy
more effective. 50 respondents have been taken in the account for this researcher and from them
all the information regarding the topic will be asked.
Name:-
Age:-
Email:-
Gender:-
Question 1: Do you agree with the fact that digitalisation assist in making the business
activities sustainable?
(a) Strongly Recommended
(b) Recommended
(c) No Idea
Question 2: Does adopting new technology will help Marine Court Hotel to attain the
targets?
(a) Yes
(b) No
(c) Don't Know
Question 3: Is digitalisation can increase the labour turnover?
(a) Yes
(b) No
(c) Can't Say
6

Question 4: Do you think information stored in the digital gadgets are protected or are
they safe with them?
(a) Yes
(b) No
(c) Can't say
Question 5: Which platform would give advantage to Marine Court Hotel when they are
look at the digital advertisement.
(a) Social Media Ads
(b) TV and Newspaper Ads
(c) Email Marketing
(d) Digital Banner
Question 6: What kind of impact digitalisation will have when things are seen for a longer
period of time.
(a) Positive
(b) Negative
(c) Neutral
Question 7: Do you thing Marine Court Hotel will require to adopt new technological
advancement at their hotel.
(a) Strongly recommended
(b) Recommended
(c) Don't Know
Question 8: What kind of techniques will be beneficial for developing a proper marketing
strategy?
(a) Tradition
(b) Modern
Question 9: What advantage Marine Court Hotel will have when they will introduce
digital technology?
(a) Increase in the customer satisfaction level
(b) Decrease in the production cost
(c) Efficiency at the work
(d) Above all
7

Secondary Data:- Such data is collected when there is urgent need of any data on any of
the particular data. These are called the secondary data because data on the particular topic has
been already collected by any of the researcher. Magazines, newspapers, books and journals etc.
are some of the sources by the help of which someone can easily find or collect the data
(Cinquini and Tenucci, 2010). It is not necessary that the data which has been referred is correct
or accurate there are lots of chances of getting irrelevant data. There are chances that it can
hinder the actual situation of the market.
TASK 5
P5. Analysis of the project outcomes.
The final result is achieved in the condition after analysing the data and can be utilised in
attaining the goals which they have set. It is important for the Marine Court Hotel to assess the
data thus it assists them in making right decision.
Theme 1: Role of digital technology in assisting the organisation in terms of sustainability.
Question 1: Do you agree with the fact that digitalisation assist in making the business
activities sustainable?
 Strongly Recommended 35
 Recommended 10
 No Idea 5
8

Strongly Recommended Recommended No Idea
0
5
10
15
20
25
30
35
40
35
10
5
Interpretation: Majority of the individuals strongly recommended that digitalisation can
assist the Marine Court Hotel in attaining operational sustainability. Very few out of them all
said that they have no idea about this thing.
Theme 2: Effectiveness of Digitalisation on Marine Court Hotel's overall objectives.
Question 2: Does adopting new technology will help Marine Court Hotel to attain the
targets?
 Yes 40
 No 9
 Don't Know 1
9

Yes No Don't Know
0
5
10
15
20
25
30
35
40
45
40
9
1
Interpretation: With this question the researcher wanted to know the effectiveness of
digitalisation for Marine Court Hotel. 40 people said that they really think that with the adoption
of digital technology the organisation would be able to attain the targets which they have said.
Theme 3: Chances of labour turnover through digitalisation.
Question 3: Is digitalisation can increase the labour turnover?
 Yes 32
 No 12
 Can't Say 6
10

Yes No
0
5
10
15
20
25
30
35 32
12
Interpretation: With the adoption of digitalisation there are lots of chances of labour
turnover so to know more about this the researcher asked the question on this. 32 respondents
raised the issue for this and it was just 12 who didn't thing that this will be an issue.
Theme 4: The privacy issue concerned with the adoption of digital technology.
Question 4: Do you think information stored in the digital gadgets are protected or are
they safe with them?
 Yes 25
 No 20
 Can't say 5
11

Yes No Can't say
0
5
10
15
20
25
30
25
20
5
Interpretation: 25 people said that they believe that the personal information stored in
the digital setup is safe and protected whereas 20 individuals said no.
Theme 5: The best platform for the advertisement which can be adopted by Marine Court
Hotel.
Question 5: Which platform would give advantage to Marine Court Hotel when they are
look at the digital advertisement.
 Social Media Ads 20
 TV and Newspaper Ads 8
 Email Marketing 15
 Digital Banner 7
12

Social Media Ads
TV and Newspaper Ads
Email Marketing
Digital Banner
0
5
10
15
20
25
20
8
15
7
Interpretation: In this, maximum people that is 20 out of 50 said that through social
media ads Hotel Marine Court can reach to a large number of people and 15 people also gave
their vote to email marketing.
Theme 6: Impact of the digitalisation on the hotel taking the scenario of future.
Question 6: What kind of impact digitalisation will have when things are seen for a longer
period of time.
 Positive 37
 Negative 5
 Neutral 8
13

Positive Negative Neutral
0
5
10
15
20
25
30
35
40 37
5
8
Interpretation: 37 people said that there will be positive impact if the Marine Court
Hotel adopts the digitalisation for a longer period of time.
Theme 7: Need for the technological advancement at Holiday Inn Hotel.
Question 7: Do you thing Marine Court Hotel will require to adopt new technological
advancement at their hotel.
 Strongly recommended 40
 Recommended 6
 Don't Know 4
14

Strongly recommended Recommended Don't Know
0
5
10
15
20
25
30
35
40
45
40
6 4
Interpretation: A large number of people that 40 said that they strongly recommend to
adopt technological advancement. Out of all only 4 said that they don't know whether this step
will be suitable or not.
Theme 8: Appropriate marketing strategy for the hotel.
Question 8: What kind of techniques will be beneficial for developing a proper marketing
strategy?
 Tradition 35
 Modern 15
15

Tradition Modern
0
5
10
15
20
25
30
35
40
35
15
Interpretation: Most of the respondents said that Marine Court Hotel should adopt the
traditional techniques for the adoption of digitalisation at the workplace. It was just 15 people
who said that they should adopt modern techniques.
Theme 9: Advantages of digitalisation for Marine Court Hotel.
Question 9: What advantage Marine Court Hotel will have when they will introduce
digital technology?
 Increase in the customer satisfaction
level
7
 Decrease in the production cost 5
 Efficiency at the work 8
 Above all 30
16

Increase in the customer satisfaction level
Efficiency at the work
0
5
10
15
20
25
30
35
7
5
8
30
Interpretation: Through the responses it was found that the listed advantages are all the
things which can be gained by hotel Marine Court if they adopt digitalisation.
TASK 6
P6. Recommendation and Suggestion for the project.
From the above research it can be said that the aim behind adopting the digitalisation at
Marine Court Hotel is to bring more guests towards to their hotel. The digital chances can be
implemented through a business plan and they are aware that with this they will be expanding the
market overseas. For marketing they can use internet facilities and for accessing the data at all
the platforms they use the cloud computing concept (Scapens and Bromwich, 2010). They are
giving benefits to those customers who are booking the room in the hotel through the help of
online platform (Luft and Shields, 2010). With the adoption of digital technology in the hotel
they can easily attain the customer satisfaction and will gives them a competitive edge over their
rivals.
TASK 7
P7. Reflective Report
Through the whole research I have gained knowledge that without the business planning
no organisation can expand their market. If the hotel wants to beat their opponents and improves
their ranking in the market it is the duty of the manager to look for the factors which can directly
impact the performance of the hotel thus increasing the productivity and profitability. To make
17

sure that they perform all the task in time they have made a time management plan and at the
same time if they are looking forward to bring efficiency there should be coordination between
the employees. To attain the new goals and objectives it is necessary that company comes out
with the new creative ideas.
To build a better relationship with the consumer the contribution of the employees is
required. The manager at Marine Court Hotel have to ensure that they recruit the capable staff
who has skills and abilities to adapt not any kind of situation. This was a new experience for me
and because of this I founded various potential skills in me which would help me in becoming a
better researcher.
CONCLUSION
From the above report it can be concluded that digitalisation can assist Marine Court
Hotel to increase their customer base and brings efficiency at the workplace. Time management
strategies are framed according to the skills and abilities of the staff so that operations can be
performed in time. In current scenario, if any organisation wants to improve their rank in the
business segment they have regularly modify them thus ado9pting the technological trends going
in the market.
REFERENCES
Books and Journal
Baldvinsdottir, G., Mitchell, F and Nørreklit, H., 2010. Issues in the relationship between theory
and practice in management accounting. Management Accounting Research. 21(2).
pp.79-82.
Bodie, Z., 2013. Investments. McGraw-Hill.
Cinquini, L and Tenucci, A., 2010. Strategic management accounting and business strategy: a
loose coupling?. Journal of Accounting & organizational change. 6(2). pp.228-259.
18

DRURY, C. M., 2013. Management and cost accounting. Springer.
Garrison, R. H., and et. al., 2010. Managerial accounting. Issues in Accounting Education. 25(4).
pp.792-793.
Giovannoni, E., Maraghini, M. P and Riccaboni, A., 2011. Transmitting knowledge across
generations: the role of management accounting practices. Family Business Review.
p.0894486511406722.
Herzig, C., and et. al., 2012. Environmental management accounting: case studies of South-East
Asian Companies. Routledge.
Li, X., and et. al., 2012. A comparative analysis of management accounting systems’ impact on
lean implementation. International Journal of Technology Management. 57(1/2/3).
pp.33-48.
Luft, J and Shields, M. D., 2010. Psychology models of management accounting. Foundations
and Trends® in Accounting. 4(3–4). pp.199-345.
Lukka, K and Modell, S., 2010. Validation in interpretive management accounting research.
Accounting, Organizations and Society. 35(4). pp.462-477.
Macintosh, N. B and Quattrone, P., 2010. Management accounting and control systems: An
organizational and sociological approach. John Wiley & Sons.
Otley, D and Emmanuel, K.M.C., 2013. Readings in accounting for management control.
Springer.
Scapens, R. W and Bromwich, M., 2010. Management accounting research: 20 years on.
Simons, R., 2013. Performance Measurement and Control Systems for Implementing Strategy
Text and Cases: Pearson New International Edition. Pearson Higher Ed.
Soin, K and Collier, P., 2013. Risk and risk management in management accounting and control.
van der Steen, M., 2011. The emergence and change of management accounting routines.
Accounting, Auditing & Accountability Journal. 24(4). pp.502-547.
Ward, K., 2012. Strategic management accounting. Routledge.
Zimmerman, J. L and Yahya-Zadeh, M., 2011. Accounting for decision making and control.
Issues in Accounting Education. 26(1). pp.258-259.
Online
Functions of Management Accounting . 2016. [Online]. Available
through:<http:www.yourarticlelibrary.com/accountingmanagement-
accountingfunctions-of-management-accounting-4-functions52467/>.
What are the Different Types of Management Accounting Systems? 2017. [Online]. Available
through:<http://www.wisegeek.com/what-are-the-different-types-of-management-
accounting-systems.htm>.
19

APPENDIX
20

21