Management Accounting Presentation: Prime Furniture Case Study

This presentation delves into the realm of management accounting, focusing on the application of various accounting systems and reporting methods. It begins with an overview of management accounting, defining its role in providing crucial information for informed decision-making within organizations. The presentation then explores different types of management accounting systems, including cost accounting, price optimization, inventory management, and job costing systems. It further examines the various types of management accounting reports, such as cost reports, stock reports, and accounts receivable reports. The importance of each accounting system is highlighted, particularly within the context of a case study involving Prime Furniture, a company based in East London. The presentation also emphasizes the integration of management accounting systems with overall corporate processes. Finally, the presentation concludes by underscoring the significance of management accounting in managing internal aspects of corporate organizations, emphasizing the coordination of accounting schemes and records across various departments. References to relevant literature are included.

Title
MANAGEMENT ACCOUNTING

TABLE OF CONTENT
Introduction
What is management accounting
Different kinds of management accounting systems
What is management accounting reporting
Types of management accounting reports
Importance of different accounting systems
Integration of MAS and MA reports
Conclusion
References

INTRODUCTION
There are many accounting activities in the financial sector,
some of which are management accounting. It can be described
as an accounting information system in which internal reports
are created by the accounting department of corporate entities
to help managers make informed choices. In the power point
demonstration, a company has been chosen that is prime
furniture. The corporation is headquartered in east London.
The power-point presentation contains detailed information on
various types of accounting systems and reporting methods.

What is management accounting
It can be used as a sort of accounting system in which the
conceptual and practical knowledge of a company is
controlled to produce comprehensive reports. These reports
are used to take effective decisions.

Different kinds of management accounting
systems.
There are a range of accounting systems and some
of them are explained below in such manner:
Cost accounting system
Price optimization system
Inventory management system
Job costing system

What is management accounting reporting
MA reports may be deemed to consist of
monetary system and anti-monetary
component organized information. These
reported results are commonly used to take
appropriate, appropriate action by corporate
executives.

Types of management accounting
reports
There are a range of accounting reports which are
explained below in such manner:
Cost report
Stock report
Accounts receivable report

Importance of different accounting systems
Cost accounting system- This accounting system is useful for companies in order to
track daily expenses. In Prime furniture limited, they can control their unwanted
expenses by help of this accounting.
Stock management system- It contributes to above company in order to effective
usage of available resources to produce products.
Price optimization system- This system helps to companies in order to set prices at a
level on level which can increase number of customers.
Job costing system- This accounting system enables to companies for determining
cost per unit of products. In the aspect of above company, they becomes able to find
out cost of each furniture item.

Integration of MAS and MA reports
The MA includes various accounting structures and records consistent
with corporate methods and processes. Their various divisions, as
mentioned above, are related to the vital background of the Prime
furniture department. The sales department is using a framework for
product optimization to raise sales revenue. MA accounts, similar to
accounting schemes, are indeed related to the corporate process. For
eg, in the above business, the stock report is related to the production
department in order to take remedial action to produce.

CONCLUSION
This can be inferred on behalf of the aforementioned
power point presentation that management accounting is
too necessary for corporate organizations in order to
handle multiple forms of internal aspects. The power point
demonstration allows for coordination of all types of
divisions of the specified organization with accounting
schemes and records.

REFERENCES
Ward, K., 2012. Strategic management accounting.
Routledge.
Wickramasinghe, D. and Alawattage, C., 2012. Management
accounting change: approaches and perspectives.
Routledge