Advanced Management Accounting Report: ABC Ltd Expansion Strategy

This report provides a comprehensive analysis of management accounting principles, focusing on the case of ABC Ltd., a small to medium-sized enterprise (SME) planning international expansion. It begins by examining the purpose of financial information for various stakeholders, including internal stakeholders like employees and the management board, and external stakeholders such as investors and creditors. The report then delves into the development of financial statements for planning and decision-making, including budgeting, capital assessment, and risk assessment. It critically evaluates financial information, acknowledging its limitations while highlighting its strategic value. The report further explores microeconomic accounting techniques like cost analysis, cost-volume-profit analysis, and cost variances. Finally, it examines the impact of internal and external factors on management accounting, including change management and recommendations for adapting to these changes. The conclusion summarizes the key findings and emphasizes the importance of management accounting in strategic decision-making.

Advanced Management
Accounting

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1- Purpose of financial information for different stakeholders.................................................1
M1- developing financial information for planning and decision-making..................................3
D1- Critical evaluation of financial information........................................................................6
TASK 2............................................................................................................................................7
P2- Evaluation of different microeconomic accounting techniques............................................7
M2- Advantages and disadvantages of accounting techniques....................................................9
D2- Application of different accounting techniques and variances...........................................11
TASK 4 .........................................................................................................................................11
P5- External and internal factors impact on management accounting.......................................11
M4- Impact of different types of changes and responses to such changes................................14
D3- Critical evaluation of change and recommendations on acceptance of change..................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Management Accounting is a professional attribute of core accounting which aligns with the
management body of the business in formulation of strategic policies and decision making
criterion for the future. To better understand, the contextual literature of management accounting
in business, ABC Ltd., a profitable SME planning to expand abroad is chosen to develop a deep
understanding of various Management accounting systems, processes, principles, fundamental
tools and techniques which shall be preferred by the decision making body of ABC Ltd. To
understand the need of it in developing a profound system and monitoring business growth with
the help of critical financial information provided by management accounting (Bhimani, 2009).
Advancement in management accounting as a system helps business in taking accounting
knowledge more vibrantly and seriously to regulate its functions, processes and future decision-
making criterion.
TASK 1
P1- Purpose of financial information for different stakeholders
Financial information: It is the information derived from financial statements of the
firm. Financial statements which comprises mainly of profit & loss statement, balance sheet and
cash flow statements etc. provide key business related information which helps the managers and
stakeholders in inferring about the health and wealth of the business. Financial information is
highly used for the purpose of meeting reporting standards as a legal requirement by regulatory
body of the respective business nation (Chenhall and Moers, 2015). ABC Ltd Is surrounded by
various stakeholders who seek constructive financial information of the business which is
discussed as follows:
Internal stakeholders: These are the stakeholders who are internal to ABC Ltd., who are
the first ones to be directly associated with the information. They are concerned with generating
true and fair statements, making agendas for the business to be conducted, and ensuring
compliance requirements by abiding to the procedural norms of preparing sound financial
statements (Andriof and Waddock, 2017). They typically include:
Employees: They form the most important element of business as they are the ones who
help a company in growing exponentially. The purpose of financial information for employees is
to ensure sustained financial health of the entity because the health of the firm is directly related
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to their individual as well as collective stakes of compensation, bonuses, employment security,
growth and learning etc. They toil effortlessly in order to establish foundation of the business so
as they can receive their monetary and non-monetary participation, to ensure this they are highly
concerned with the quantitative analysis of the business performance. Information about salary
deductions and additional benefits and fringe benefits are essential and supplied in the form of
income statement.
Management Board: Board of directors and management body seeks financial
information because they are responsible beings for ensuring longevity and development of the
business and to do that they would need quantitative data. They are watchdog of corporate
governance principle under the aegis of which comes the financial governance structure (Kaplan
and Atkinson, 2015). The purpose of financial information from the point of view of
management board is to construct policy making framework for the future and satisfy
stakeholders by assuring them with appropriate compliance and keeping their stakes at the
highest priority by devising sound business policies. Divided proposed for the current year,
remuneration to directors and audit plans are few major information presented crucial for
management and board.
External stakeholders: They are outside the organisation and act as external to it. They
act as pressure groups on the business to ensure that it functions ethically and sustainably. They
are indirectly affected by the decisions of the firm. They form the larger part of the business
environment surrounded by several micro & macro factors. If a business falls, it affects external
stakeholders deeply because their concerns are aligned with majority proportion (CLOR‐
PROELL and Maines, 2014). Financial information as proposed capital to and paid up capital,
debenture interests and return on investment are few essential information which are presented to
external stakeholders in the form of balance sheet. The list includes investors, creditors,
government, and society at large.
Investors: Investors long for financial information of the business because they provide
capital to the business for its operations expansion and wishes to receive dividends, which is
possible when firm is doing good in capital markets which ensures profitable returns, hence they
seek financial information. The purpose of financial information for investors is to ensure
themselves with better return on equity, bonus shares, rights issues, better interests on
redemption of debt capital etc. All this is possible only when businesses perform exceptionally
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well at capital markets. Their purpose to seek financial data is to appraise the investment option
in the business. Earnings per share, growth rate and trends are presented in annual report that
elaborate the quantitative information to investors.
Creditors: They consists of banks, financial institutions, venture capitalists and
institutional credit facilities which provide loans and advances for the funding requirements. The
purpose of financial information for creditors is to ascertain that business is performing well
which ensures repayment capacity along with interest to them. They have two faced alignments
with the depositors and business debtors. Their stakes are considered highest during winding up
process (Yang, 2014). Creditors remain secured from the possible debt failure of business, for
this purpose they conduct financial pedagogy of the debtor business. Credit policies and the
credit notes and changes in rates and charges information presented to creditors in the form of
annual report.
M1- developing financial information for planning and decision-making
Need for developing financial statements: A business needs to develop financial
statements to provide constructive data set which helps in analysing the profitability and liquidity
position of the firm along with getting insights about how has the invested capital performed
during a period (Carraher and Van Auken, 2013). Apart from these objectives financial
statements helps a business in growing other facets of financial needs which are as follows:
Budgeting: Financial statements show forecasted sales and revenue figures of the
business for a brief period which aids in designing budgetary control device for the business. It
helps in budgeting accordingly for the future expenses of each departmental unit and their
relative profit making capacity. Budgeting sales and revenue figures helps firms in identification
of possible routes through which such figures could be achieved and paves a way for policy
making system (De Baerdemaeker and Bruggeman, 2015).
Assessing capital requirement: Based on the sales figures and revenue generation
capacity of products, financial statements provide insights regarding the capital acquisition needs
to the business and the possible avenues from which such capital needs can be fulfilled such as
debt-equity options. Capital needs fulfilment is basic feature of every business and having a
system which enables it to acquire capital through proper channels is really crucial.
Risk assessment: With the help of financial ratios and other indexes prepared based on
the financial information provided by financial statements, a business can identify the risk
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portion associated with particular investment and the mechanisms needed to reduce the impact of
risk (Chenhall, 2012). Hedging risks is need of every business firm and through advanced
financial information documents and channels risks could be sidelined to a great extent.
Presentation of financial information: Financial information will be meaningless until
it is presented in clear & concised formats. Information is inferred with the help of preparation of
key financial statements prepared by accounts department of ABC Ltd. The major statements
prepared are :
Profit & loss accounts: It is a financial statement which is prepared to ascertain revenues,
expenses and costs incurred during a fiscal year. It is often regarded as income statement. It
provides information about the company's propensity to generate profits by increasing sales or
reducing costs.
Balance sheet: It is a yearly financial statement which shows records of total assets and
liabilities and shareholder's equity for a fiscal year. It determines the assets to liabilities position
of the firm and provides view of the overall financial health.
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Cash flow statement: It is a summary financial statement of total inflow & outflow of
cash during a fiscal year. It is prepared to determine the liquidity state of the firm.
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D1- Critical evaluation of financial information
Financial information disseminated by financial statements provides a brief view about
the economic health of a business. It aids the managers as a supportive function to assist in the
development of financial literacy and planning for future investment & decision making
criterion. However, often critique has been drawn on the fair reliance of financial statements for
judging a business functioning because statements are averse to inflation and have an
indifference to market prices. They are born out of pure accounting science but in real market
situations their applications differ from the modern economics (Palepu and Healy, 2013).
Inflationary outcomes affect a business by enforcing moulding on prices and demands for the
products, despite the judgemental capacity of accounting, factual study considering the external
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economic environment alone is not probable with financial statements. However, Financial
statements provides a wide range of possibilities for the management to dwell in to find out
rationale behind skewness and discrepancies in data which aids in strategy formulation.
TASK 2
P2- Evaluation of different microeconomic accounting techniques
Microeconomic techniques: Microeconomics is the study of individual factor, or a
single unit which affects total economic units. It is dominated by quantitative models which are
used to study the behaviour of individuals and their overall role in affecting the macro economic
factors. This study majorly involves demand supply gap, their coefficients, household utility
analysis, consumer preferences, production function and a lot of different theories which define
the scope of economics in relation with the managerial capacity of the businesses (Cowell,
2018). In modern management accounting philosophy, microeconomic techniques play a crucial
role in measuring the profitability indexes of the business. Some majorly favoured
microeconomic tools are discussed as follows:
Cost analysis: In economics literature, Cost analysis is done to study the relationship
between input cost to output ratio. ABC Ltd cost analysts study the interrelationship between the
factor input costs incurred on the production and the relative output derived from such analysis.
It is mainly done to identify whether costs incurred are resulting in profitability of the production
or whether they are burdening the cost structure? It is defined as the calculation of money value
of inputs (Wickramasinghe and Alawattage2012). This analysis helps ABC Ltd. in identifying
the optimum level of production where the firm can reach and identify possible bundles of cost
reduction and profit maximisation which increases the overall organisational performance graph.
Cost-volume profit analysis: Cost volume profit analysis determine the impact on
operating profit as a result of variations levels between costs to volume. It is often regarded as
break-even analysis which is used by the management of ABC Ltd. to determine the breakeven
point where combination of sales and costs would result in optimum profits (Shrieves and
Wachowicz, 2001). It studies various bundles of cost and sales figures to identify the most
profitable situation where the production would break even at lowest cost and would result in
maximum profits to ABC Ltd. It is useful in short-term economic decisions. It is concluded after
taking various determinants as constant and is based on certain economic assumptions. This
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technique increases organisational performance by helping it in identifying points which
determine profitability for it.
Cost variances: It is the study of deviations between the budgeted cost structure for the
production plan and the actual costs incurred. It can be performed for various factors of
production. Such differences help the management body ABC Ltd. in studying the relationship
between budgeted to actual cost levels. In order to conduct a cost variance analysis, at the
beginning stage of production standard costs needs to be established which provides a scope for
the deviation analysis (Moores and Yuen, 2001). It results into favourable and unfavourable
variances based on the positive and negative skewness. It is used to study the positive flow of
finances as the project progresses and identification of loopholes which daunts the funds of the
business. This technique increases organisational performance for ABC Ltd by helping it analyse
performance standards for its processes and projects.
Absorption & marginal costing: Under absorption costing all costs related to
manufacturing process are subsumed into the process. Or, all the costs related to production
which may be fixed costs or flexible costs are considered as costs despite their actual use
(Williams and Dobelman, 2017). While, in marginal costing method, the additional costs
incurred in producing are charged against the cost units whereas the fixed cost which make a part
of the relevant period are written off against the contribution in full. It is also considered as
incremental cost. It is the one additional unit of cost incurred by the firm as the result of addition
in one more unit consumption of the product by the consumers. These techniques helps ABC
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Ltd. Management in ascertaining cost allocation for production plan and designing cost
allocation techniques for its processes.
Flexible budgeting: It is a budgetary mechanism under which costs are allocated as per
the variation in the production level. It focuses mainly on the variable costs associated with the
production. As the level of production may vary from the current level to a different level the
variable cost per unit will also shift to that level. It is a cost saving mechanism which is highly
regarded in ABC Ltd. where cost control framework is quite important to save extra cost burden
on the business. Flexible budget considers revenues and expenditures incurred in current period
as a baseline so as to identify How revenues and expenditure will change as a result in variation
of such estimation. It increases organisational performance of ABC Ltd. By helping it budget
resources judiciously and save extra costs from getting wasted.
Organisational performance and microeconomic techniques: All the micro economic
techniques discussed above has an influence on organisational development and performance
increasing. Cost-volume profit analysis aids the business in identifying the profit margin portion
after that the fixed costs and variable costs are covered. Variance analysis helps in determining
the variation between two factorial points or costs (Dwivedi, 2016). It aids through cost
reduction hence improves organisational efficiency and effectiveness. Same benefits are
produced by using techniques like flexible budgeting, cost allocation method, various costing
techniques helps a business in developing strategic intent and content for the future endeavours
through planning for multi level production by channelizing processes into elegant systems.
M2- Advantages and disadvantages of accounting techniques
Management accounting education provides a lot of management accounting tools and
techniques which has secured exponential benefits for ABC Ltd. These accounting techniques
has a wide range of value to the management accounting literature and has proved quite
satisfactorily to the organisation as well but they come with some pros and cons which are
discussed here in as:
Marginal costing: It is the deviation in total cost as an outcome of change in one extra
unit production.
Advantages
 This method of costing is very easy to comprehend for ABC Ltd's analysts and put to use
as it eliminates the element of fixed costs and their apportionment.
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 Comparison between costs becomes quite meaningful under this technique because fixed
costs are not as mandatory norm are carried forward for successive years.
Disadvantages
 It is quite difficult to bifurcate costs between fixed and variables because they highly
depend on the organisational characteristics which makes it vague.
 Sometimes it gets meaningless to devise this method because anyway fixed costs form
the part of products and production, hence their elimination doesn't define the degree of
variability.
Importance for ABC Ltd: This technique helps ABC Ltd. In saving costs by allocating
only that costs which results in something fruitful to the organisation and eliminating extra costs.
Break even analysis: It is a financial tool, which helps a business in determining at which
stage its production will result into profitability or at which point of sales the costs incurred on
production will be covered by the business (Lohmann, 2016).
Advantages
 It helps in ascertaining profit and loss levels at different levels of sales and production at
a time for ABC Ltd.
 It provides a range of technical factors which has affected variation between sales levels
which has deteriorated profits and possible solutions to overcome them.
Disadvantages
 The basic assumption to conduct a break analysis is that it assumes costs as fixed at all
times during the production process which is not a real case scenario in practical sense.
 It assumes that production as well as sales levels are equal at all times which is
impractical and a fallacy in comprehensive business context.
Importance for ABC Ltd: This technique helps ABC Ltd. In identifying break even
point for its products which helps in identifying profit position for it and the optimum level till
where it has to continue production to achieve efficiency.
D2- Application of different accounting techniques and variances.
Application of accounting techniques in ABC Ltd. is a result of colossal management
accounting practices and wisdom which has circulated systematic order in the organisation.
Techniques like Net present value (NPV), Internal rate of return (IRR), Discounted cash flow
(DCF), and payback period has been quite instrumental in helping the management with practical
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business issues and solutions to them. NPV technique helps the business in determining present
value of the future investments and their relative profitability which aids the business in
appraising investment options correctly, payback period has helped the management in
ascertaining at what point the investment will start bearing fruits in the form of profits. DCF
method helps in valuing the investment options at present stage using the future cash flow
generating capacity of the investment. It is the value of investment proposed at the present rate
and its relative capacity to increase funds in positive manner based on a rate called as 'discount
rate' (Elsner, Heinrich and Schwardt, 2014). In total, all these techniques, tools and variances has
helped the businessmen in forecasting, developing strategy plans and monitoring growth through
continuous assessment of vision, mission and plans through above signified accounting
techniques.
TASK 4
P5- External and internal factors impact on management accounting
Management accounting systems at ABC Ltd and at the most in general are subjected to
manipulation owing to organisational changes impacted by majority of external and internal
factors shapes the management accounting a lot. These factors are generally decided by the wave
of industry in which the company is functioning and the business environment in which it is
surrounded (Kalkhouran and et. al. 2015). Changes which has been instrumental in deciding
management accounting framework in ABC Ltd are subjugated to a combination of incentivised
system. Based on the literature study of management accounting, external and internal factors
have been identified which decides the formation of management accounting systems which are
as follows:
External factors: External factors which affects a business also affects management
accounting system directly as a repercussion of the push from such factors. These external
factors determine the policies, framework and scope for the accounting systems in a typical
organisation. They are regarded as contingent factors of the business. The external factors which
affects most are as follows:
Business Environment uncertainties: This factor has been the most researched arena for
developing conscience for management accounting. A mixture of political, economic, social and
technological factors defines the role of accounting in a country. There are various accounting
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standards made as per the country's origin and traditional accounting perspective that remain
changes in various. These uncertainties create the changing business requirements for the
business and impact the business. Economic system, growth and industrial shape also determines
the way management accounting principles shall be perceived. Social factors, government
policies, tax regime, economic health, growth level and industrial size also determines way for
the origination of systems. As per the policies of the country, the management accounting also
changes as the scope and policies which are to be used are highly determined by the way an
economy performs.
Market competition: This factor is equally regarded as important as environmental
uncertainty. Market competition prevalent in a certain industry or in general economy is
determined by various competition identification models. More the competitive market will be
more will be the intensity of advancing accounting information to the management (Martínez‐
Ferrero and et. al. 2015). In highly competitive market, threat of substitution and new entry
creates challenging situations in existing business environment. This impact upon small scale
and start up organisations and slow down the growth of market development.
Internal factors: These factors are internal to ABC Ltd. Management accounting
systems are also determined by the value system of the firm. Internal processes, people, values,
structure, industry, relative size of the firm, strategic intent are the main elements of internal
factors. Variation among these internal factors affect the business process as well as environment
by impact the business life cycle. These factors equally contribute in shaping the identity of
management accounting, depth of information processing and development of management
information systems (MIS). These factors are in control of the managerial body where they can
strive to develop benevolent systems through change mechanisms. Some internal factors are as
follows:
Competition strategy: The market competition determination strategy of the business as
determines framework for management accounting principles. The modern bifurcation between
classical competition theories of cost leadership, differentiation focus, cost focus, differentiation
dominantly determines management accounting principles development and become the part of
changing business environment by applying and different tactics in product and service
management (Cravens and Piercy, 2006). Same is the case of differentiation where the
management would focus more on qualitative aspects of the business. Thus, an alignment
12

between strategies and accounting style defines the scope of management accounting. Business
competition strategy determines the scope of management accounting in the company. If the
business is differentiation focused accounting would be focused on quality of products rather
than costs whereas if the firm focuses on cost leadership, it will need more accounting to reduce
costs.
Organisational structure: Organisations are typically centralised and decentralised as per
the structure. The studies conducted on management accounting systems has identified that
organisations which has decentralised structure are more efficient in processing accounting
information to the management because of the linkage of information flow from bottom up
approach. As the informational flow structure is horizontal at all verticals, it leads to easy flow of
processing and faster delivery of the information with the executive body of the business.
Meanwhile, if the business is centralised then the information flows from a well defined set of
channels which regulates the easier flow of information. Variations among data flow changes the
business formation due to volatile information hence lowers the productivity of the management
and accounting information can fluctuate the formation and impact the business environment as
well as organisatiuon (Laitinen, 2006). If the firm is a large organisation than it would need
precise management accounting systems whereas if the firm is smaller one like ABC Ltd. Which
is very decentralised being an SME it would rely on basic accounting techniques. Being
decentralised the information will flow better and on time resulting in better organisational
performance.
Size & sector: Large business firms have the financial resources to adapt to most
sophisticated management accounting systems as compared to small organisations. The sector in
which the firm is functioning also defines the scope of managerial accounting. Small and
medium enterprises as ABC ltd are more focused on simple, concise and dedicated MIS systems
whereas Big corporations are hugely driven by robust network of large systems. Size of the
business determines the flow of management accounting in the internal systems. Same factor
applies on the sector in which the firm is operating. Since ABC Ltd. Is an SME, the scope of
management accounting increases for it because of the increased competition.
M4- Impact of different types of changes and responses to such changes
Businesses are constantly hit by organisational changes occurring as a result of
imbalanced business environment. ABC Ltd. Also faces such change movements which bothers
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the structural dimensions of the business. Most pertinent kind of changes that often occur in
businesses are developmental change, transformational change, transactional change, happened
change, reactive change etc. These changes affect positively as well as negatively to a business
and organisations react to such changes either in reactive way or proactive way depending on the
defence mechanism of the business (Burns and Vaivio ,2001). Changes are often resisted by the
employees of ABC Ltd because of the fears and uncertainties associated with changes. To tackle
such reservations by employees to adapt to changes, thinkers like kurt lewin, Kotter's change
model, Kubler-ross change curve etc. have given significantly used and highly regarded change
models. Under transformational change style, management is pre-determined to carry out change
ahead to time because of their strong anticipation of analysing trends and always being ahead of
competitors through adapting to change needs in advance (Hayes, 2018). Under transactional
change, organisations carry out change process as per the timely needs, where it is must to bring
changes otherwise the business will succumb to injuries of time. In order to satisfy the needs of
change, ABC Ltd. Has devised above mentioned change models in phased manner to satisfy the
needs of time and employees. The status quo situation has been handled very precisely by ABC
Ltd's management body by aligning employees with business motives and motivating them with
better career options.
D3- Critical evaluation of change and recommendations on acceptance of change
Change is an integral part of almost everything and that applies to organisations as well.
Change occurs in a firm through most uncertain ways. Changes are resisted by the employees,
workers and other related participants because there exist an element of fear approaching
unknown elements ingrained in the change (Kavanagh and Ashkanasy, 2006). Employees resist
by going on strikes, resigning, revolting on their own ways against changes which is a matter of
concern for the businesses. Management needs to develop proper communication channels of
motivating employees through channelizing change education, imparting educational facilities,
training and development sessions, decentralising communication channels for every employee
to seek proper guidance and grievance redressing. Flattening of employee network by putting
every employee on equal pedestal during unfreezing stage helps in removing status quo symbol
and helps in adaptation to change quickly.
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CONCLUSION
After going through the report and citing various management accounting principles at
advanced stage, it can be concluded that ABC Ltd. has designed profound network of
management accounting system for its processes which has enabled it to seek advantage against
its competitors. Various accounting techniques offered by literature of accounting aids the
management body of the firm in taking robust business decisions which provides impeccable
support to its functioning and aids in advancing strategies through channelizing processes into a
broad framework of decision-making. The report discusses about change process which is a
pivotal part of business fraternity and possible solutions to counter changes which may help
ABC Ltd. In encountering resistance among employees.
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