Management Accounting Information as a Decision-Making Tool: Report

This report provides an overview of management accounting information and its application as a decision-making tool. It covers various aspects of management accounting, including both qualitative and quantitative elements, and its branches of study. The report discusses financial statements as reflections of a business organization's financial performance over specified periods. It highlights the role of budgets and Management Information Systems (MIS) in maintaining and utilizing management accounting data efficiently. The use of computerized software at different management levels (strategic, tactical, and operational) is examined, emphasizing the importance of selecting appropriate decision-making tools based on various factors. Forecasting is presented as a crucial element in deciding future actions to achieve organizational objectives, with pricing strategies also considered. The report references Dalata Hotel Group Plc.'s annual reports and other sources to illustrate these concepts.

Management
Accounting Information
as a Decision-Making
Tool

List of Contents
Management Accounting
Financial statements
Budget
Management Information System
Software
Decision making tools
Forecasting
Price
References

management accounting
• Management Accounting is concerned
with the managerial aspects of
accounting. It includes b0th
qualitative and quantitative aspects.
• There are various aspects involved in
the management accounting and as
such it is advisable to understand it in
branches od studies.

Financial Statements
 Financial statements are the final accounts that reflect the
financial performance of any business organisation.
 Financial statements are prepared after a pre-determined or
specified period.
 These financial transactions reflect the financial transactions
during a specified period.

Budgeted statement of Dalata Group

Management Information System
 Management Information System is an online system
that maintains all the data relating to management
accounting system.
 Since all the information is maintained online, there is no
concern about the loss of data.

Software used in Dalata Group

Decision making tools
 Different computerized software can be used for different levels of
management.
 There are three levels of management namely, top level or strategic
level, operational level or tactical level.
 Choosing or selecting decision making tool depends on the various
factors.

Forecasting
Forecasting is deciding in advance the action that it need to
take in the nearby future. This will help to achieve
organisational objectives.