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Marketing Accounting - PDF

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Added on  2021-01-02

Marketing Accounting - PDF

   Added on 2021-01-02

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MARKETINGACCOUNTING
Marketing Accounting - PDF_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 3............................................................................................................................................1Planning tools for budgetary control...........................................................................................1TASK 4............................................................................................................................................2Adaption of various management accounting system to respond financial problems................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
Marketing Accounting - PDF_2
INTRODUCTIONManagement accounting is a branch of management which makes strategies and planfor the business as to make the company more cost efficient and enhance the profitability ofbusiness. The study includes various planning tools of budgetary control along with theiradvantages and disadvantages and also some management accounting systems to be used torespond various financial problems.TASK 3Planning tools for budgetary controlBudgetary controlBudgetary control means analysis of actual results with budgeted figures to identify theactual performance and efficiency of business organisation, and in case of any inefficiency,taking effective steps to reduce inefficiency of business.Planning toolsThere are various planning tools that can be used in budgetary control like:Cash budget: it predicts cash requirement of the business in specific time period.Prediction of cash flow in the business is quite uncertain, in this order it should beprepared on short term basis (Gooneratne and Hoque, 2016). Therefore, TATAprepares cash budget on monthly basis. AdvantagesIt helps management of TATA in making fund available to meet the obligations of business.It shows availability of cash in business, which may help in planning to invest excessive cash as to earn profit from investment.Disadvantage Cash budget is quite uncertain. Therefore, it may provide negative estimation to TATA.It needs to be prepared after short time period.Capital budget: capital budgets includes prediction of cash flows, management ofassets, incomes and other financial activities. TATA prepares capital budget in order todetermine the financial position of company.Advantages1
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