Reflective Journal on Management Accounting

Reflective Journal

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
This is a journal Reflective report, which covers the essential concept of Management
accounting and the most valuable MAS that help company to reach the desire results in proper
time. It also includes the detailed learning which I used to learn from the overall unit and clear
my Thoughts how internal management is very much important for the growth of company in
recent time.
MAIN BODY
It really is a struggle for me to undergo a different course like Management accounting because
I'm going to want to take any material I 'm studying as a test to get high marks as I advance to
new courses and still continue to grasp the subjects. I had also learned a lot of information in this
subsystem, Introduction to Management Accounting, which since I have done work would be
helpful for my long term. I've learned in this section how to define and measure the costs that a
company would bear in business. The strategies I have studied, like activity-based costing,
absorption costing as well as marginal costing, would be important for measuring the company's
costs (Selto and Curry, 2014). I reach the conclusion after studying these methodologies that
perhaps the activity-based costing is far more helpful than the standard costing because it
identifies which the economies of scale growth due to all the allocation of fixed costs on the
tasks performed during manufacturing.
The system also subjected me to the construct of Cost Volume Profit, in addition to all of
that. The idea trained me to evaluate the break-even point, which would be the purpose in which
money is made, but it demonstrates important to analyse however many manufacturing plants are
to be purchased in necessary to protect the variable costs incurred all through manufacturing by
the firm. It helps the organisation as the data will be used to assess the budget strategic plan of a
corporation. Next, accounting for administration has also trained and encouraged me to look
beyond the box. Another of the similarities between management accounting and financial
accounting is that certain indirect knowledge is given by budgetary control. It needs me,
however, to measure more often and think about which value I can use. While it's a working long
process, I hope it causes me further as it increases my freedom to reason that will be good soon
as I aim to be a business consultant.