Management Accounting Report: Nisa Retail's Decision-Making Strategies

This report provides a comprehensive analysis of management accounting principles and their application within Nisa Retail, a small grocery wholesaler. The report begins with an introduction to management accounting, differentiating it from financial accounting and emphasizing its role in internal decision-making. Task 1 focuses on explaining management accounting systems, including cost accounting, job costing, inventory management, and price optimization, along with their essential requirements. It presents distinctive methods for managerial accounting reporting, such as job cost reports, inventory management reports, and departmental reports. The report evaluates the benefits of management accounting systems, highlighting how they aid in integrating operational reports, streamlining business activities, and facilitating informed decision-making. Task 2 delves into cost calculation, comparing marginal and absorption costing methods and their impact on income statements. The report also explores the application of management accounting techniques in producing financial reporting documents, including the preparation of income statements using marginal and absorption costing. The report further investigates the integration of management accounting systems and reporting within Nisa's processes, emphasizing the importance of integration for effective operational management. The report then examines planning tools and their advantages and disadvantages, analyzing their use in forecasting and budgeting. The report concludes by evaluating planning tools that could be used for solving financial problems and how Nisa can adopt management accounting systems to respond to financial problems and achieve sustainable success.

Management Accounting

Table of Contents
INTRODUCTION................................................................................................................................3
TASK 1.................................................................................................................................................3
LO1.......................................................................................................................................................3
P1 Explaining the management accounting & give the essential requirement of different MA
system..............................................................................................................................................3
Essential requirement of different MA system................................................................................4
P2 Presenting distinctive methods for the managerial accounting reporting...................................5
M1 Evaluating the benefits of Management accounting systems and their applications in Nisa
Retail store.......................................................................................................................................6
D1 Critically examine how MA systems and MA reporting can be integrated with Nisa’s
processes..........................................................................................................................................6
TASK 2.................................................................................................................................................7
LO2.......................................................................................................................................................7
P3 Cost calculation to prepare an income statement under marginal and absorption costing.........7
M2. Apply a range of management accounting technique & produce financial reporting
document..........................................................................................................................................9
D2 Producing financial reports to apply and interpret data for different activities.......................10
TASK 3...............................................................................................................................................10
LO3.....................................................................................................................................................10
P4 advantage and disadvantage of different types of planning tools.............................................11
M2 Analysis of use of planning tools and application for forecasting budget..............................12
D3 Evaluation of planning tools that could be used for solving financial problem......................12
LO4.....................................................................................................................................................13
P5 Compare how Nisa can adopt MA systems to respond financial problems.............................13
M4 Analysing how MA can lead to resolve financial problems and attain sustainable success. . .14
CONCLUSION..................................................................................................................................14
REFERENCES...................................................................................................................................15

INTRODUCTION
Managerial accounting is the procedure of measuring, examining and interpreting the
performance of an organization which aimed at assisting top executives within the firm to make
right decisions. It is different from the financial accounting which purpose is to produce financial
reports like income statement, balance sheet and cash flow statement to measure the profitability,
financial health and cash position. However, MA can be defined as a process of managing business
operational metric and covers various aspects such as cost determination, examining managerial
reports, forecasting through budgets, variance analysis by finding deviations of actual results with
the targets and many others for making on-time decisions to arrive the defined target goals. The
present project report focuses Nisa Retail Limited which is small grocery wholesaler located in UK.
It is a private limited organization whose aim is to deliver best quality of retail services and
competitive food at affordable charges. The proposed assignment will critically examine the role of
managerial accounting information as a decision-making tool for Nisa’s success. Moreover, the
report will also present an in-depth evaluation of MA systems with the advantages and
disadvantages and cost determination through marginal and absorption costing for reaching for the
qualitative decisions.
TASK 1
LO1
P1 Explaining the management accounting & give the essential requirement of different MA system
To: General Manager, Nisa Retail Store Ltd
From: Management Accounting officer
Date: 7th April 2017
Subject: Management accounting (MA) and Management Accounting system (MAS)
Introduction
This report will introduce the management accounting role and importance for the Nisa retail
stores along with the various types of MAS that it can use for the objective of making goal-oriented
decisions.
Management accounting: It consists of preparation, delivering and analysis of the financial
& statistical information to the executives, managers and directors, so that, they can handle short-
term managerial decisions, devise planning & manage business performance. In Nisa retail store, it
is the accountability of the managers to administrate, supervise, monitor and control their
departmental functioning (Bhimani and et.al, 2013). MA provides them relevant or needed

accounting information which assist them in strategy formulation & implementation as well. Now-
a-days, in the competitive challenging world, many-times, managers have to make big decisions
promptly, which cause difficulty for them in analysing and interpreting the data, therefore, they use
MAS to get the required data quickly and examine it for making suitable decisions for the growth.
Cost accounting system: It is essential for the company to estimate their product and
services cost accurately (Saladrigues and Tena, 2017). As its name, the system enables Nisa retail’s
managers to identify the right cost of their retail goods, identifying its trend, inventory &
profitability analysis and making decisions for the cost-control.
Job costing system: It refers to the process of accumulating various cost information that
belonged to a particular job (Fullerton, Kennedy and Widener, 2013). It is mainly helpful to provide
cost information to the consumers for their order placed. It allows Nisa retail store to quote their
goods prices after adding a reasonable return.
Inventory management system: This software enable corporation to track their inventory
levels for the ordering and delivering purpose to satisfy their consumer base. With the help of
managing stock to a right level, Nisa can place order on-time for having adequate inventories in the
warehouse to maintain their stock level.
Price optimisation: This MA system helps retailers to identify that how their clients will
respond at distinctive prices of the goods and services, so that, managers can set right prices to
maximize their operational return (Quattrone, 2016). More importantly, in retail sector, it seems
essential for the marketers to figure out the impact of change in their goods prices on the market
demand in order to fix an optimum price.
Essential requirement of different MA system
Relevant information: Every departmental manager of Nisa retail store i.e. finance,
purchase, sales, marketing, production need relevant information about their cost, revenues and
operational efficiency for performance measurement and interpretation and thereby make
rationalized plans and decisions (Romano, 2015).
Reliability and accurate information: CAS, IAS, JCS and other management accounting
systems must provide reliable & accurate data to the managers. It is because; manipulated data may
mislead the decisions and bring serious harm.
Time-updated: MA systems must render up-to-date information so that comparative
analysis can be made over the years to devise better policies and plans for the organizational
progress.

P2 Presenting distinctive methods for the managerial accounting reporting
To: General Manager, Nisa Retail Store Ltd
From: Management Accounting officer
Date: 7th April 2017
Subject:Different Methods for Management Accounting Reporting
Introduction
This report is presented to the manager to provide the information regarding various
methods for MA reporting which Nisa retailer can use in their organization.
In business, there are number of reports that are required to be prepared expressing the
financial result of every department for measuring and analysing the performance and devising the
best plans for the long-term sustainability. Different types of reports that Nisa’s executives &
directors can use are enumerated underneath:
Job Cost Reports: This report present various direct as well as indirect & fixed as well as
variable expenditures that firm incurred on a particular job for the price quotation at a reasonable
return (Ionescu, 2016.).
Inventory Management Reports: As name suggested, this reports helps to review, analyse
and evaluate the information about closing stock. It provides important insight regarding hourly
wages rate, wastage and closing inventory which is helpful in maintaining adequate stock level and
making the production function.
Debtors/Accounts Receivable Aging reports: This provides information about the
customers with the outstanding amount & duration i.e. 30 days, 60 days, 90 days and more. With
the help of this, they can make better credit decisions, tighten their cash collection policy and
manage cash flows (Nam and Park, 2016).
Segmental/Departmental Reports: As its name, it delivers information to the managers
about various segments & departments which aim is to provide an accurate and realistic picture of
Nisa’s operational performance. It shows revenues, expenditures, liabilities, assets and others to
examine risk & reward relationship.
Operating budget report: It helps business managers by providing them information about
the target income and expenses and compares it with the actual results to find out variances and
thereby make on-time decisions to reach the targets.

M1 Evaluating the benefits of Management accounting systems and their applications in Nisa Retail
store
There are number of benefits which Nisa’s managers will obtain through the implement of
MAS in their business that are discussed here as under:
 The most important benefit of different system like job costing, inventory system, cost
accounting and price optimization is that it provides great assistance in integrating various
operational reports for making well-informed decisions (Suomala, Lyly-Yrjänäinen and
Lukka, 2014). It also enable Nisa’s managers in preparing the final accounts very quickly,
provide up-to-dated information and thereby improve timeliness as well.
 By analysing and interpreting the performance of the business, executives and other top
managerial authority can devise distinctive business strategies i.e. maximum production,
cost-minimizing, budgets and so on.
 It supports Nisa retailer in streamlining their regular business activities, procedures and
processes for the progressive growth at maximum efficiency (Banerjee and Das, 2017).
Moreover, remedial measures undertaken by the managers enable business in performing
well in the future.
 MAS generates summarized business reports quickly and by it, provides high flexibility, so
that, management can receive required information anytime and make well-informed
business decisions.
 With the help of MAS, upper-level authority can simplify their regular business activities,
summarize key statistics and make better decisions for the growth (Ward, 2012). At the same
time, historical performance evaluation allow managers in making better forecasting for the
forthcoming years.
From the above analysis, it is considered better to advice that Nisa retail store must
implement management accounting system in their business and thereby take timely decisions for
ensuring sustainable growth.
D1 Critically examine how MA systems and MA reporting can be integrated with Nisa’s processes
To: General Manager, Nisa Retail Store
From: Management Accounting Officer
Date: 7th April 2017
Subject: Integration of management accounting reporting and management accounting system
within organizational processes

Management accounting system and MA reporting needs to be integrated with each other for
the effective and efficient operational management. With the help of this, business executives and
managers can generate confidential reports like inventory, sales, job costing and others and detect
the main hurdles for the firm and make timely decisions to get rid of it. Various departments i.e.
HR, Finance, Sales, Purchase, production, marketing, credit collection etc. can get summarized
reports from the system like costing, inventory, accounting, receivables and others and make timely
decisions for the success. Such integrated system can be used as a key decision-making tool to drive
long-run success into the business (Ahmed and Manab, 2016). Managers and director of the retail
store will not have to waste time in making reports manually, they just have to input data accurately
into the system and thereafter, reports can be generated automatically which saves time, cost plus
energy. By such facilities, Nisa’s management can make right plans and create strategies for the
high progress and growth in the future years at strong competitiveness.
TASK 2
LO2
P3 Cost calculation to prepare an income statement under marginal and absorption costing
Identifying an accurate cost per unit is one of the most significant area upon which pricing
decisions are based. Finding an inaccurate cost may leads to take misleading pricing decisions and
cause failure whereas right price fixation can bring success to the business by generating high
demand at a reasonable charges. There are various methods of cost identification i.e. marginal as
well as absorption which have been analysed here as under:
Absorption costing: This method absorbs all the payments incurred in the manufacturing
functions such as fixed as well as variable expenditures to the production for finding out the total
cost per unit, therefore, it is also known as full costing method (Malmi, 2016).
Benefits:
1. This technique is considered appropriate because it takes into account all the payments made
by Nisa on their production function and provides an accurate insight towards net profit.
2. It also make necessary adjustments regarding over as well as under-absorption of the
overheads to minimize cost.
3. It values inventory at cost per unit which is measured after considering fixed & variable
production expense (Tucker and Lowe, 2014).
Drawbacks:

1. This method will not offer any benefit to the Nisa’s mangers to fix a right price for the goods
and services offered.
2. It is also not considered as an effective technique for the cost-curtailment purpose.
Absorption/full costing method
Particulars Absorption
Direct material 6
Direct labor 5
Variable production overheads 2
Fixed production overheads 3
Costs/unit 16
Income statement using Absorption costing
Particulars Amount
Sales (600*35) 21000
Less: costs of production
(16*700) 11200
Less: closing stock (100*16) 1600 9600
Less: over absorbed fixed overheads 100
Cost of production 9500
Gross profit 11500
Less: Other costs
Administration costs 700
Selling costs 600
Sales overheads 600 1900
Net profit 9600
Calculations of overvalued absorption
Actual fixed production overheads = 2,000
Fixed production overhead absorbed (700*3) = 2,100
Over-absorbed overheads = (100)
Marginal costing: It is also referred as variable costing in which, only the variable expenses
incurred on the production is considered for finding out the production cost and avoid fixed cost
whole because this will even incur at zero level of production (Ramanathan, 2014). However, while
determining the net return, Nisa’s managers can figured out their contribution by subtracting the
total variable cost over the sale and afterwards, net profit is determined by subtracting the
contribution over fixed costs.
Benefits:
11 Unlike full costing, it totally ignores fixed expenses by considering it as a periodical cost.

11 It remove adjustments for the over as well as under absorption of overheads in cost
determination (Schaltegger, Gibassier and Zvezdov, 2013).11 Its main benefit is that it assists in pricing decisions and short-term managerial decisions.
Drawbacks:
 It is really hard sometime to separate fixed & variable cost, at the same time, few
expenses may fall in the category of mixed cost.
Marginal costing/variable costing method Amount/unit
Items
Direct material purchase 6
Direct labor’s wages 5
Variable manufacturing overheads 2
Cost/unit 13.00
Income statement using marginal costing
Particulars Amount
Sales (600*35) 21000
Less: Variable cost of sales
(13*700) 9100
Less: closing stock (100*13) 1300 7800
Gross profit 13200
Less: Other costs
Fixed production overheads 2000
Administration costs 700
Selling costs 600
Sales overheads 600 3900
Net profit 9300
Calculation of overhead absorption rate for fixed production overhead
= Budgeted fixed production overheads/Number of units
= 1800/600
= 3
M2. Apply a range of management accounting technique & produce financial reporting document
From the above prepared marginal and absorption costing method, it can be seen that results
of both the techniques identified that cost per unit under marginal & variable cost has been figured
out to 13 and 16 GBP. However, total cost of sales are computed to 9,600 and 7800 respectively
whilst profit has been derived to 9400 & 11300 respectively. The main reason behind distinguish
results under both these, is that MC considered only variable cost whereas full costing method

utilized both the fixed and variable costs. Besides this, other managerial accounting techniques that
can be used are the break-even analysis, made below:
Breakeven point = Total fixed cost/selling cost-total variable costs
(2000+700+600)/(35-6-5-2-1)
3300/(22)
= 150 units
The results stated that at 150 units at a sale of (150*35) = 5,250 GBP, Nisa retail store can
get its break-even point which showcase maximum capacity utilization and before the point, firm
bear loss and beyond this, it drive positive return. Looking to the current sale, Nisa had sold 600
units which is above the BEP and drive return in both the cases to 9,400 & 11,300.
D2 Producing financial reports to apply and interpret data for different activities
To: General Manager, Nisa Retail Stores
From: Management Accounting Officer
Date: 7th April 2017
Subjects: Evaluating the performance and its reporting to the managers
The application of both the full & variable costing method provided different results to each
other, because of distinctive implications. It is comparatively greater in marginal costing to 11,300
because it had just considered variable cost which is measured at 13 GBP per unit, in despite of this,
full costing method used 16 GBP of unit cost because it took both the fixed & variable cost into
consideration. Due to this, inventory valuation also has been affected which had been computed at
1300 & 1600 greater in absorption costing. Besides this, variable costing did not considered under
absorbed fixed overheads of 100 GBP while determining the net profit, in contrast, full costing
method considered the same and declined the gross and net return to 11,300 & 9,400 respectively.
On the contrary side, there are no such kind of adjustments made in marginal costing method and as
a result, high yield has been shown to 11,300.
TASK 3
LO3

P4 advantage and disadvantage of different types of planning tools
Budgetary control is a practice that is used in the company for making budget for the future
time period. It aids in comparing actual performance of the company with the budgetary figures.
Weak performing areas of the business can be identified and on the basis of that measures can be
taken for making improvements in existing performance of the business. Corrective actions can be
taken by business for making improvements in performance of the business (DRURY, 2013). There
are many methods that could be used by the company for accomplishing this objective. Methods
and their advantages and disadvantages are as described:-
Activity based budgeting: - This method is used by Nia Retail store for preparing budget
and every activity that is needed to be completed is mentioned while making use of this approach.
In this method income is allocated to activity's cost. This method has many advantageous and it
supports for allocating revenues that have been generated in the business. In addition to that this
technique focuses on regulating the overheads. On the other hand there are some disadvantageous
that are associated with this method and it requires managerial techniques to train managers so that
they can make use of this method.
Incremental budgeting:- This method makes use of changes that occurred in budget at
every year and on the basis of that incremental amount is added to the budget that has been prepared
in previous year. There are some advantages that are associated with this method and it is simple to
create budget and it aids in maintaining transparency among all the departments that are working in
the organization. However there are some disadvantages that are associated with this method and in
this no incentives are there for controlling the cost.
Cash budget: - It is a very good financial tool that can be used by management of Imda tech
for controlling their financial functions. Making use of this tool helps for finding cash balance that
has been sufficient for fulfilling the regular obligations. It aids for identifying the cash availability
of the organization and company can identify about requirement of cash in the company. It helps for
coordinating the activities and minimizing the cost and maximizing the profit.
Disadvantage of cash budget: - this budget is prepared on estimates that are subjective and
it might take a longer time for achieving the required financial objectives. Operating this budget
might proves expensive and productivity can be decreased if targets are not realistic.
Cost plus pricing: - It is a very effective accounting tool that could be used by management
of Imda tech for regulating the financial performance of the business. It is a simple method that aid
for determining the price of the product. Reasons for increases in expenses can be identified and on
the basis of that corrective measures can be taken by the organization.

Disadvantage of cost plus pricing: - Future demand for the project cannot be identified and
this method also does not considerations for competitor actions. Sometimes overestimations for
price of the products are made and due to that difficulty are faced in calculating the profit margins.
M2 Analysis of use of planning tools and application for forecasting budget
There are many tools that are available with the Nisa retail store that could be used by the
business for forecasting budget. Zero based budgeting and Activity based budgeting are some
important and effective tools that could be sued by the business. Company has option for making
use of Activity based budgeting method so that future forecasting can be made for the business.
This technique provides options for preparing budget for the enterprise (Ramanathan, 2014).
It is assertive that data and information should be collected from the authentic and reliable
sources so that budget can be prepared in appropriate manner. It is vital that budget must be
prepared in systematic and strategic manner so that required objectives of the company could be
achieved (Schaltegger, Gibassier and Zvezdov, 2013). Along with this it activity based budgeting
method provides an effective medium for allocating revenues to the related expenditure. Variance
analysis can be prepared by managers of the firm and it will support for taking corrective and
effective actions for making improvements in the performance of the business.
D3 Evaluation of planning tools that could be used for solving financial problem
It is assertive that effective financial tools should be used by the Nisa for solving the
financial problems that are faced by business. Some of the methods that can be used are as
described:-
RATIO ANALYSIS: - Financial ratios are compared under this method and it supports for
examining the performance of the business in effective manner. There are different ratios that are
compared under this and it includes profitability ratio, liquidity ratio, solvency ratio and some other
ratios (Malmi, 2016). Making use of this method helps for assessing the actual performance of the
business as compared to estimated performance. It will help for making effective strategies and
action plans for the Nisa’s growth. Growth and better financial performance of the business can be
ensured and it will aid for enhancing the profitability of the entity.
CAPITAL BUDGETING: - It is also an effective method that could be sued by the entity for
solving diverse range of financial problems that are faced in the business. In this method project
evaluation methods are used and it includes payback, accounting rate of return and Net Present
value and internal rate of return (Tucker and Lowe, 2014). This technique provides opportunity for
the retailer to identify investment opportunities.
VARIANCE ANALYSIS: - In this method comparison is made between the set standards
against the actual standards and it also helps for causes for unfavourable variance can be identified.

On the basis of that measures can be taken for making improvement in performance of the business.
Decisions can be taken for making improvement in financial performance of the business and it will
aid in ensuring competitive advantage for the organization.
Advantages of cost budgeting: A cost budget is a financial plan prepared for expenditures to
be incurred in future. It is highly beneficial in nature because by undertaking such method firm can
control over expenses to a great extent.
Advantages of cost plus price budgeting: Such budgeting method is highly effectual which in
turn helps in setting suitable pricing framework. Under such method, business entity sets prices by
considering the overall expenses incurred by firm. Hence, by considering such aspect it can be
stated that cost plus pricing method helps in deriving suitable profit level.
LO4
P5 Compare how Nisa can adopt MA systems to respond financial problems
In the current dynamic corporate era, companies can face number of organizational issues
and financial problems which must be required to manage by taking appropriate decisions. In
context to Nisa, it can use following tools to overcome the financial difficulties and improve their
performance as well that are presented underneath:
Ratio analysis: It is a quantitative technique that is a great tool and assists the organization
in computing different kind of ratios to examine the results of their operations and financial
performance as well. In this regards, company can use various key performance indicators such as
gross profit and net profit ratio and thereby find out the effectiveness of day to day functions to
drive in positive return. Besides this, liquidity position also can be analysed by the finding out the
current ratio and quick ratio. It enables Nisa’s managerial team to evaluate the availability of short-
term liquid funds so as to repay their short-term deferral payments, more importantly, suppliers.
Apart from this, solvency position which examines the business capability to pay long-term debts
can be evaluated by the analysis of capital structure through debt and equity ratio (Faÿ, Introna and
Puyou, 2010. Comparison of the ratios over the years assists the business to find out whether it has
performed well or not than last year. Thus, with the help of this, Nisa’s managers can easily detect
the areas where they need to make better decisions and make strategies to streamline the operations
and resolve financial problems. They can make decisions regarding the capital structure, working
capital, optimal and better use of assets and higher revenues at controlled cost to drive success.
Benchmarking: In this technique, Nisa can compare their own performance with the
industry leader set as benchmark. With this, company can make better plans to achieve the idle

position in the industry by bringing significant improvement in their performance and financial
status and reach goals.
Capital budgeting: Many-times, company may also need to take decisions for the long-
term capital investment like investment in new machinery, technology and other fixed assets. In this
respect, firm can use various capital budgeting techniques like payback period, net present value
and internal rate of return to assess the strength & risk associated with the each proposal and
thereby selects the best capital investment proposal (Romano, 2015). Here, Net present value is the
best technique because time value of the currency is considered by the way of discounting at either
the interest rate or weighted average costs of capital. Its total is compared with the initial investment
so as to find out the net return.
M4 Analysing how MA can lead to resolve financial problems and attain sustainable success
There are different kind of key tools which can be used by the managers in making right
decisions on time for overcoming financial problems and attain long-run success. For instance, a
technique of strategic financial analysis, ratio evaluation provides a true picture about the Nisa’s
profitability, creditworthiness and solvency also which enable executives to create well-informed
decisions for improving their performance and maximizing financial status. It helps to respond to
the financial difficulties in various ways i.e. cost-curtailment, marketing, working capital,
receivable and payable management, negotiation strategy, tighten cash collection, capital structure
& others (Houtson, 2014). Besides this, capital budgeting technique like net present value make
necessary adjustments regarding market uncertainties by allowing the use of discounting to figure
out the today’s worth of prospective cash flows for the assessment of project worthiness and
safeguard the firm. Apart from this, budgeting, analysis of the deviations by comparison of targets
with the actual results are of huge importance to make plans for overcoming an adverse results.
CONCLUSION
Aforementioned report concluded that management accounting systems and reporting will
greatly assist Nisa’s managers in making the right strategies at the right time to improve their
performance and reach goals. Different MA systems i.e. CAS, price-optimization, IAS will be of
high importance to respond to the financial consequences and assure sustainable success. Apart
from this, budgeting, ratio analysis, investment appraisal are the key tools which assist managers for
the decision-making purpose and strengthen the competitiveness of the business.

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