( P44 ) Management Accounting

Assignment 1
TASK 1

Explaining the management accounting
Management accounting offer specific
information to people
Follow the specific principles related to double
entry system of book keeping
Focuses on specific opportunities available to
business
The scope of management accounting can be
considered in term of financial accounting,
costing and inventory, statistical methods as well
as interim reporting.

Requirement of different types of
accounting systems
 The use of management accounting procedure proves to be
effective to allocate the resources effectively
 Ensure higher performance of different departments such
as production, finance, marketing
 The different accounting system are helpful for the sake of
identification, analysis and communication metric in the
accounting system

Cont...
 Use of management accounting system helps to
communicate the information in all respective department
 Offers a standard framework to identify the economic and
financial factors
 Determine the financial health as well as taxation of the
business as well as economies.