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UNIT 5. Management Accounting - Assignment

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Added on  2020-09-17

UNIT 5. Management Accounting - Assignment

   Added on 2020-09-17

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UNIT 5 MANAGEMENTACCOUNTING
UNIT 5. Management Accounting - Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Report to General Manager regarding concept of management accounting andrequirements of their types to company......................................................................................1P2 Report to General manager regarding explanation of methods of management accountingreports..........................................................................................................................................4TASK 2............................................................................................................................................7P3 Difference between Marginal costing and Absorption costing and calculation of Incomestatement through these methods:...............................................................................................7TASK 3..........................................................................................................................................11P4 Report to General manager regarding advantages and disadvantage of different types ofplanning tools for budgetary control.........................................................................................11P5 Adopting management accounting systems for responding financial troubles..................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................17
UNIT 5. Management Accounting - Assignment_2
INTRODUCTIONManagement accounting is the process in which managers utilises the guidelines andregulations of data's of accounting to assess in decision-making system of an enterprises.Management accounting consists of provisions which guides top management for dealing withfinancial and non-financial informations for decision-making process (Armstrong and Taylor,2014). Hence Management accounting is a procedure which involves make or buy decisions,planning for allocation and performance management of a company. It also assists with theproficiency while creating financial reports for management support. Bizdaq was started in 2015 and its main business is sales, as it deals with only saleprojects. It's annual turnover is around £100,000 and less than 50 employees work in thiscompany. This assignment is based on the discussion of different types of managementaccounting systems with various methods. This assignment is divided on the basis two differentscenario's, in first scenario, a report is written which concentrates on execution of accountingtechniques for business success. In second scenario, financial problem faced by Bizdaq isdiscussed and a perfect resolution to deal with such a issue is given and explained to Generalmanager in a report. The main focus of this report is to apply management accounting techniques like profitanalysis, marginal costs and absorption costs.
UNIT 5. Management Accounting - Assignment_3
TASK 1P1 Report to General Manager regarding concept of management accounting and requirementsof their types to companyFrom: Management accounting officerTo: General manager of BizdaqSub: Management accounting systemThis report is focused on Management accounting concepts and it will explain how accountingsystems works. Various management accounting systems and their types like Inventorymanagement system, Price optimisation, Job costing system and Cost accounting system hasbeen described in this report.Management Accounting System:This system is treated as a specialisation which motivates employees to participate indecision-making process of management. It supports leaders in specifying planning andperformance management systems (Assaf, Josiassen and Cvelbar, 2012). Managementaccounting systems executes expertise in making financial reports. It also helps in controllingwhile formulation of strategies. The diagram below is explaining different types of Management Accounting System:Types of Management Accounting SystemsInventory managementsystemPrice optimisationJob costing systemCost accounting system
UNIT 5. Management Accounting - Assignment_4

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