UNIT 2 Assignment on Management Accounting
Added on 2019-12-28
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MANAGEMENT ACCOUNTING
Table of ContentsINTRODUCTION:..........................................................................................................................3TASK 1............................................................................................................................................3P1 Function of management accounting ....................................................................................3M1:benefits of management accounting systems.......................................................................5D1 process of the management accounting systems .................................................................5P2 Type of management accounting system and its use to each and every department in thecontext of Imda tech....................................................................................................................5Task 2...............................................................................................................................................7P3 Preparation of income statement of Imda tech using marginal and absorption costing .......7M2 Techniques and reconcile the profit......................................................................................9D2 data of the business activities................................................................................................9TASK 3............................................................................................................................................9P4 Planning tool with the discussion on budget and pricing strategy in the context of Imdatech limited..................................................................................................................................9M3 preparing and forecasting budgets......................................................................................12D3 planning tools of the accounting in financial problem........................................................13TASK 4..........................................................................................................................................13P5 Balance scorecard and its implementation to improve the performance ............................13M4 financial problems, management accounting ....................................................................14D4 planning tools for accounting .............................................................................................15CONCLUSION:.............................................................................................................................15REFERENCES:.............................................................................................................................17
INTRODUCTION:The management accounting help the manager to making the best decision anddeveloping the alternative resources of the financial accounting. The management accountingcreate the types of the cost accounting. Management also determine the many process in thisorganisation. This process create the planning, organising, staffing and controlling process,decision making, controlling performance, financial analysis and iterpretation. The accounting isthe system of the company. This system create the company best budget and data. The Imda techcompany dealing the mobile telephone and other product. This accounting is the best method ofthe financial statement and create the pricing strategies, develop the best budget. This is theprovision of the financial and non financial statement of the decision making. This is also createthe company objectives and goals. The Imda Tech company manager create the best financialreport and formulating the pricing strategy. This accounting consists the many scope includingthe strategies, performance and risk management (Zimmerman and Yahya-Zadeh , 2011). Thisaccounting define the many skill and knowledge in the presentation the company financialbudget.TASK 1P1 Function of management accounting The function of the management accounting provide the help in preparing the data of thecompany and create the best decision. This function also define the decision making process.Management accounting developing the many function related to the planning, organising,staffing and controlling. This function creating the alternative budget and cost of the production.The function of the management accounting create the best function in the organisation. Thisfunction developing the best decision making process in the organisation. The function alsodevelop the best plan and innovative ideas in the organisation. Planing function: This process create the best function of the accounting management. Theplaning determine the best budget, alternative sources, best product of the company. This isprepare the person development process in this organisation. This is the first stage of theaccounting function. This function provide the alternative sources and alternative plan relatedthe company profile.This is also develop the best strategies and techniques in thecompany(Macintosh and Quattrone , 2010).
Organising function : This process define the integration, balance and coordinating activities.This process of the management accounting are best process. This process define the many stepsof the company including the fixing the company objectives. The Imda tech company identifythe many activities to achieving the organisational objectives. The next step create the groupingactivity and provide the responsibility of the each employees. This process create the authority ofthe employees and determine the relationship between the superiors and subordinates. Thisprocess is create the possibility of the large number of the people and develop the bestenvironment.Staffing process: This function define the many process in this organisation.The process of thestrafing create comparison of the employees and selection of the employees. This is alsodeveloping the person personality in this organisation. The management accounting determinethe budget process and pricing strategies. This process of the management accounting systemcreate the human resources management planing. This function provide the best sources and bestplan(Simons , 2013). Controlling function: This function determine the many process of the control. This processcreate the standers and measuring the performance of the standers. This also creating the standersand innovative plan in the organisation. This function of the management accounting reducingthe risk factor and uncertainty of the risk. This function reducing the variance of the company.The financial and management accounting create the final report in the whole process of theaccounting function.Management accountingFinancial accounting It is prepared the internal employees andstakeholder of the business.This accounting maintain the externalaudiences of the company and organisation.It is not compulsory.This accounting is compulsory.This accounting provide the monetary and nonmonetary information.This accounting provide the monetaryinformation.This accounting consists the planing anddecision making process(Baldvinsdottir, G.,Mitchell and Nørreklit , 2010).This accounting provide the financialinformation to the company outsiders.There are availability of the internalmanagement.There are availability of the internal andexternal management.
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