This report provides a comprehensive overview of management accounting practices, focusing on Nisa Retail Limited, a UK-based company. It begins by defining management accounting and its various types, including traditional cost accounting, lean accounting, throughput accounting, and transfer pricing systems. The report then explores different management accounting reporting methods, such as cost reports, budget reports, and performance reports. The core of the report involves a detailed comparison of marginal costing and absorption costing methods, demonstrating how each method is used to compute net profit and providing interpretations of the financial results. The report includes illustrations and examples to clarify the application of these accounting techniques, offering valuable insights into financial analysis and decision-making within the context of a real-world business. The report also includes various illustrations of financial tools like cash budget, production budget, sales budget and investment appraisal techniques.
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