logo

Unicorn Grocery Management Accounting

20 Pages6392 Words42 Views
   

Added on  2020-07-22

Unicorn Grocery Management Accounting

   Added on 2020-07-22

ShareRelated Documents
MANAGEMENTACCOUNTING
Unicorn Grocery Management Accounting_1
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1 ..........................................................................................................................................1P1 Management accounting & different types of accounting system.........................................1P2 Different techniques used for management accounting reporting........................................4TASK 2............................................................................................................................................6P3 Different techniques of cost analysis.....................................................................................6TASK 3............................................................................................................................................8P4 Advantages and disadvantages of different types of planning tool ......................................8TASK 4..........................................................................................................................................11P5 Evaluate how companies are adapting different management account system ..................11CONCLUSION..............................................................................................................................13REFERENCES .............................................................................................................................14
Unicorn Grocery Management Accounting_2
Unicorn Grocery Management Accounting_3
INTRODUCTION Management Accounting refers to the process of examining business operations and costsin order to make financial account, report and records to support the process of decision makingby managers of the firm so that goals of the business can attained. It is a process of determining,measuring, examining, interpreting & communicating data and information in order to pursuitobjective of an organisation (Bennett and James, 2010). These accounting reports help managersin making short term decisions by providing them accurate and timely information related tofinance and statistics. It is also known as managerial accounting. In the present assignment,chosen company is Unicorn Grocery which is located in Chorlton, England. The firm sellsprocessed, fresh and dried organic food & drink with emphasize on fair trade and local sourcing.Along with this, it also sells body care, household and general grocery goods. The report coversvarious types of management accounting system and their essential requirements. It also includesdifferent methods used in management accounting reporting. By the use of suitable techniques ofcost analysis, various costs are calculated. Apart from this, merits and demerits of variousplanning tools used in budgetary control are defined in the project. TASK 1 P1 Management accounting & different types of accounting systemFrom: Management Accounting Officer Date: 21t February, 2018To: General Manager of Unicorn Grocery Subject: Management Accounting and Its Types Management Accounting can be defined as an accounting activities which play an importantrole in providing information to managers which helps in conducting company's operations. Itprovides more detailed information as compare to financial accounting, for example if there isany difference in revenue and expenditure in company products, then department will providecomparative data that helps in analysing all the profitable and unprofitable activities. This accounting provides faster information as compare to financial accounting in regards toperformance of company. It is a most important medium in providing future cost and revenuerather than simply presenting past revenue expenditure. Further, it gives information morequickly than financial accounting irrespective of giving annual report which is done financialaccounts it provides monthly, weekly or daily basis report that enable managers to consider all1
Unicorn Grocery Management Accounting_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Management Accounting of Unicorn Grocery : Case Study
|20
|6798
|163

Management Accounting - Unicorn Grocery
|16
|5375
|85

Report on Management Accounting for Company
|16
|4687
|32

Management Accounting Assignment - Unicorn grocery
|17
|5116
|195

Accounting System for Management Accounting Reporting
|21
|5397
|195

Accounting and Reporting System - Report
|16
|4608
|31