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Management Accounting Report Assignment

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Added on  2020-01-23

Management Accounting Report Assignment

   Added on 2020-01-23

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MANAGEMENTACCOUNTING
Management Accounting Report Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Management accounting and different types of management accounting systems...............1P2 Different methods used for management accounting reporting.............................................3TASK 2............................................................................................................................................5P3 Calculation of cost through different methods.......................................................................5TASK 3............................................................................................................................................8P4 Advantages and disadvantages of different planning tools used in Budgetary control.........8P5 Management accounting systems in solving financial problems.........................................10CONCLUSION.............................................................................................................................12REFERENCES..............................................................................................................................13
Management Accounting Report Assignment_2
Illustration IndexIllustration 1: Calculation of cost through absorption costing.........................................................6Illustration 2: Calculation of cost through marginal costing...........................................................6
Management Accounting Report Assignment_3
INTRODUCTIONThe management accounting is a process in which different techniques are used formaking use of various resources of the company so that managers can be aided in the function oftaking significant decisions and increase the value of customers and shareholders. The saidaccounting is a technique in which through effective processes, the decisions related to financialand non financial matters are considered. The present report is based on management accountingin which the major focus is laid on different vital aspects of the said discipline. In businessorganisation, the use of management accounting is inevitable and useful (Elbashir, Collier andSutton, 2011). The present report has discussed the entire management accounting on R.L.Maynard company which is a well known restaurant in UK. The mentioned restaurant has lessthan 50 employees and the annual turnover is also not more than£500,000. In the present report,the discussion will be made on various accounting systems and that are followed by mentionedenterprise. Besides this, it has a discussion over various methods that are used for managementaccounting. In addition to this, the report will have a discussion over different costing techniquesthat are used by the firm. Besides this the final section will be focussing on use of accountingsystem in solving the financial problems. TASK 1P1 Management accounting and different types of management accounting systems Management accounting system is a significant tool which can be referred as theinformation system that generates useful information asked by the managers for managing theresources and creating value for various stakeholders (Garrison and et.al., 2010). Further, theaccounting system act on ad hoc terms so that decision related to short and long durations can bemade. Thus, it prepares a wider information system within the firm. The R.L. Maynard companyuse this system so that different crucial information can be accessed regularly as and whenrequired by the concerned persons. The said accounting system includes different types ofinformation like cost of producing goods and services, details regarding planning and controlfunctions and performance measurements. The major accounting systems that are used bymentioned enterprise are as follows:Cost accounting system: The cost accounting system takes into consideration differentestimates regarding the cost incurred on production of goods and services (Ward, 2012).1
Management Accounting Report Assignment_4

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