Management Accounting and Its Applications
Added on 2020-07-22
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Unit 5 management accountingUniversity UNIT 5 MANAGEMENT ACCOUNTINGStudent’s name:Professors’ name:
Unit 5 management accountingTable of ContentsIntroduction:..............................................................................................................3Task 1........................................................................................................................3Task 2........................................................................................................................9Task 3......................................................................................................................13Conclusion...............................................................................................................15Reference list:..........................................................................................................16
Unit 5 management accountingIntroduction: The management accounting technique caters the best procedure within the organization and thetrusted procedure creates the best suggestive phrase. This management accountant technique isthe significant phrase that process with the proper decision making criteria. Responsible andefficient procedure of installation, development and proper functioning criteria present with alogical way in the organization. Financial management procedure in the organization worksbetter with performance evaluation technique, cost accounting and planning with the decision-making and support system (Järvinen, 2016). Any specific organization with their external andinternal financial reporting creates that symmetric progression for several things that generate theperfect orientation for entire thing. The companies with their different costing technique and thereporting system create the positive way that can able to cater the fruitful result for theorganization. In this assignment, the entire task will put focus to the development o the properfinancial management systems that cater the best procedure for the organization. Bedford EstateCompany based in London has specialized in real estate and deal with other different companiesand creating a strong business structure in the market. Furthermore, the company hasincorporated the proper commissioned structure for development in the finance purposes. Task 1IntroductionThe various accounting procedure creates the proper systemic orientation that present with theleading structure. The various management scenarios act for the development and growth criteriaso that the current situation can be tackled and handled for future long-term assessment. Thecurrent strategy and plan generate the proper engagement with various things that integrated withthe performance measurement. The capacity for the organization integrates with proper processefficiency and the cost management. From the organizational development and several otherpurposes, the creation of the different management structure act for the process analysis in asystematic way and the learning with the corrective progression generate the particular
Unit 5 management accountingjustification. For the organization, the domain of costing act for the several development andprocessed criteria that channel with several other variations and the optimization criteria also getmanaged with a fully absorbed and the incremental costing structure (van Helden and Uddin,2016). Explanation of management accounting and giving the essential requirements of differenttypes of management accounting systems to the chosen scenario: The management accounting structure for the organization take up some of the best procedure sothat it can able to recognize as the proper preparation, explanation, communication system andthe processed information so that it can assist the mangers for better decision making criteria. Forachievement of growth and the other successful statement, the organization needs to work for theproper financial statement. This management structure work properly with the procedure ofpreparing the management reports that provide the proper accounts and give on time statisticalincluding the financial reports ( Alawattage et al. 2017). This day-to-day analysis for thefinancial purposes can generate from the short term decision-making criteria and this will adjoinwith the better planning statement prospect. The different types of accounting management technique help the organization to deliver theirbest practices within the market place. By the assistance of the effective accounting procedurethe entire progression for the organization, generate the perfect engagement in differentsituations. Transfer pricing, traditional cost accounting, lean accounting process are theaccounting types that the organization take up in their procedure. Traditional cost accounting- One of the oldest proceduresis the management accountingprocedure that cater the best possibility for the growth and development prospect. In the system,the costing techniques and systems are done and the calculations were created upon some of theprimitive terms. This process is actually proved to be a challenging structure for many of thebusiness organizations so that they can progress with the logical foundation of managementaccounting system. Still, this classification can be termed to be beneficial as it more normallyused and people are more familiarized to this arrangement of management accounting procedure.It can be said that if the organization Bedford Estate faces any kind of concerns related to itsnewly established strategy, then the organization can transfer to this strategy, which shall assist
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