Methods of Management Accounting : Report
Added on -2021-02-21
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ManagementAccounting
Table of Contents
INTRODUCTIONManagerial accounting is consider as the procedure of defining, analysing, monitoringand controlling the overall presentation of an entity during a financial year. It is helpful to theinternal stakeholders in order to measure the actual financial status of an organisation so they canimprove the effectiveness of the firm easily (Dai and et. al.,2017). To better understand of thereport selected engineering company, Network Rail Limited. The company was established inLondon, United kingdom and founded in 2002. The company mainly dealing into publictransport and civil, structural engineering, logistics transport and supply chain. This report discusses about different topics such as system of management account andits necessary requirement. To prepare report for company apply different methods which isrelated to various departments and shows their position. Apart from the report, define benefits ofaccounting system and analysis integration of accounting system and accounting reports withinorganisational processes. Furthermore, set a range of management accounting techniques todevelop financial reports. Additionally, define about the merit and demerit of the planning toolsand compare effectiveness of an organisation to dealing with financial problem. ACTIVITY 1PART AManagement accounting and their fundamental requirementManagement accounting: It is a process that describes as detailed investigation of themanagement performance in order to control the business activities so profit can be higher in thelong term. Network Rail that is rail infrastructure and assets management company that usesmanagement accounting for the business services in order to perform in certain manner. Businessmanagement of the company formulate the strategies to handle the different situation forbetterment of the organisation.Management accounting system: Management accounting systems refers to systematicutilisation of accounting information and records in order to achieve targeted objects as perorganisational policies and regulation (Qian and Schaltegger, 2017) . There are different kind ofmanagement accounting systems which works to handle the overall managerial processes andalso use to framework of business policy making. Some of them are discussed below:1
INTRODUCTIONManagerial accounting is consider as the procedure of defining, analysing, monitoringand controlling the overall presentation of an entity during a financial year. It is helpful to theinternal stakeholders in order to measure the actual financial status of an organisation so they canimprove the effectiveness of the firm easily (Dai and et. al.,2017). To better understand of thereport selected engineering company, Network Rail Limited. The company was established inLondon, United kingdom and founded in 2002. The company mainly dealing into publictransport and civil, structural engineering, logistics transport and supply chain. This report discusses about different topics such as system of management account andits necessary requirement. To prepare report for company apply different methods that isconnected with several sections and shows their position. Apart from the report, define benefitsof accounting system and analysis integration of accounting system and accounting reportswithin organisational processes. Furthermore, set a range of management accounting techniquesto develop financial reports. Additionally, define advantage and disadvantage of the preparationtools and analyse effectiveness of an organisation to dealing with businessissues. ACTIVITY 1PART AManagement accounting and their fundamental requirementManagement accounting: It is a procedure that describes as detailed investigation of theestablishment presentation in order to control the enterprise activities so profit can be higher inthe long term. Network Rail that is rail infrastructure and assets management company that usesmanagement accounting for the business services in order to perform in certain manner. Businessmanagement of the company formulate the strategies to handle the different situation forbetterment of the organisation.Management accounting system: This systems refers to organized utilisation ofaccounting information and records in respect to achieve targeted objects as per organisationalpolicies and regulation (Qian and Schaltegger, 2017) . There are different kind of managementaccounting systems which works to handle the overall managerial processes and also use toframework of business policy making. There are discussed below:1
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