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Concept of Management Accounting - Doc

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Added on  2020-10-22

Concept of Management Accounting - Doc

   Added on 2020-10-22

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Concept of Management Accounting - Doc_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Management accounting and its essential requirements...................................................1P2 methods of management accounting report......................................................................3M1 Benefits of management accounting system....................................................................4D1 Management accounting report integrated within organisational....................................4TASK 2............................................................................................................................................5P3 Calculation of an income statement.................................................................................5M2 Management accounting techniques................................................................................8D2 Analysis and interpretation of data ..................................................................................8TASK 3............................................................................................................................................8P4 Analyse advantages and disadvantages of different planning tools used for budgetary control. ..........................................................................................................................................................8M3 Analyse the use of different planning tools for preparing and forecasting budgets......10TASK 4..........................................................................................................................................10P5 management accounting systems and its response to financial problems.......................10M4 Organisational sustainability through management accounting....................................12CONCLUSION .............................................................................................................................13REFERENCE.................................................................................................................................14
Concept of Management Accounting - Doc_2
Concept of Management Accounting - Doc_3
INTRODUCTIONManagementaccounting is a term used to describe an accounting methods, system andtechniques which provides information to business managers. This would help in makingdecisions related to day-to-day operation of a business. With regards to small organization, thisconcept aid them to monitor performance of business in regular manner. This report is carried onC&S Builder Merchants LTD to discus concept of management accounting and to understanddifferent planning tools impacts an organization (Fullerton, 2014). Apart from this, report willkeep its focus over Planning tools of budgetary control, different techniques of cost analysis, useof planning tools and adaptability of management accounting in an organization. Lastly,assessment will put light on usage of management accounting and understanding of differenttechniques of cost analysis and control. TASK 1P1 Management accounting and its essential requirementsManagement accounting is the process of preparing reports. In this accountinginformation goes through several steps such as interpretation, analysis, identification and at lastpresentation. The overall information is obtained with a help of financial and cost accounting.These type of information which are required by a manager for making daily task preparationand to make short term decision for an organisation. There are different uses of managementaccounting in every field and their application are as follows: It is used to measure performanceof employee and identifying of risk possibility, it is also used in allocation of resources in anoptimised way as C&S Builder Merchants LTD can use different techniques to allocate theresources so where the resources are needed first should supply there first. It helps organisationto achieve the long term goal and to sustain for the longer period (Renz, 2016). The managementaccounting used to provide the proper presentation of the position of organisation in terms offinance, Which helps to prepare the financial reports,used in decision-making for future. C&S Builder Merchants LTD is a manufacturing company which supplies the naturaland man-made stones, concrete, bricks, tiles, and woods like thing for making designer garden.C&S Builder Merchants LTD uses inventory control management and budgeting controltechniques for handling the the accounts in efficient and effective way.There are various types of management accounting system which are as follows;1
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