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Management Accounting: Importance, Systems, and Reports

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Added on  2023-01-13

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This presentation provides an introduction to prime furniture, defines management accounting, discusses its importance, compares management accounting with financial accounting, explains management accounting systems and reports, and highlights the benefits of different types of systems. It concludes with the importance of management accounting reports and their role in achieving organizational objectives.

Management Accounting: Importance, Systems, and Reports

   Added on 2023-01-13

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UNIT 5:
MANAGEMENT
ACCOUNTING
Management Accounting: Importance, Systems, and Reports_1
Introduction of Prime Furniture
Definition of Management Accounting
Importance of Management Accounting
Management V&S Financial accounting
Definition of Management Accounting System
Different types of Management Accounting Systems
Benefits of different types of systems
Definition of Management Accounting Reports
Importance of Management Accounting Reports
Conclusion
References
CONTENT
Management Accounting: Importance, Systems, and Reports_2
Introduction of prime furniture
Established in 2000
Mission- “We are a genuine UK based retail outlet
offering quality items at low prices than the high
street.”(Facebook.com. ,2020 [a])
Products- Flat Pack Furniture, Cookware,
Bathroom Accessories, Toys & Games, Kids
Furniture, Beauty Products
Management Accounting: Importance, Systems, and Reports_3
Management accounting is the process of
analyzing and transacting business day to day
activities for organization to increase its
credibility and performance (My Accounting
Course. ,2020).
Marginal accounting is the process of
identifying, measuring, analyzing, interpreting
and communicating financial data to
managers for achieving organization’s goals
and fulfillment of objectives (Investopedia., 2020).
Definition of Management accounting
Management Accounting: Importance, Systems, and Reports_4

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