Management Accounting Project: UCK Furniture Report, Semester 1

This report examines management accounting, focusing on its application within UCK Furniture. It begins by defining management accounting and its various systems, exploring how they contribute to informed decision-making. The report then details methods of management accounting reporting, emphasizing their role in enhancing productivity and profitability. It further highlights the benefits of implementing effective management accounting systems, such as improved decision-making and strategic planning. The integration of these systems within the organization is also discussed, including budgeting, job costing, and performance reports. The conclusion summarizes the advantages of adopting these systems for UCK Furniture, emphasizing their contribution to achieving organizational goals. The report concludes with references to relevant academic research.

Management
Accounting
Project 1

Cover content
• Introduction
• Management accounting and types of system
• Method of management accounting reporting
• Benefits of management accounting systems
• Management accounting system and its integration within the
organisation
• Conclusion
• References

Introduction
Management accounting is essentially applicable in every organisation
which provided sufficient support through providing relevant
information about financial and non-financial transaction occurred on
daily basis. The project covers the explanation of management
accounting and reporting systems along with their benefits and
drawbacks.

Management accounting and types of system
Management accosting is widely used in business and organisation
subject to imaginable and organisation the departments of organisation.
This is considered as a concept of managerial accounting because this
is basically used to demonstrate and define the various accounting
equations.

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Method of management accounting reporting.
Account reporting is that which particularly help UCK furnitures to make
a proper decision and this manipulate the firm to earn higher productivity
and even more profits can also be attained.

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Benefits of management accounting systems
There are various management accounting systems which provided
sufficient reliable information to the management of company in order
to make an effective and profitable decision.

Management accounting system and its
integration within the organisation
Integration of management accounting system and management
accounting reporting.
• Budgeting Reports
• Job Cost reports
• Account receivable reports
• Inventory and management reports
• Performance reports

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Conclusion
It has been concluded from the above project report that adopting
various management accounting and reporting systems brings lots of
benefits to UCK furniture as it helps managers of different department
to formulate an effective plans and policies regarding achieving desired
goals and objectives.

References
Chiwamit, P., Modell, S. and Yang, C. L., 2014. The societal relevance
of management accounting innovations: economic value added
and institutional work in the fields of Chinese and Thai state-
owned enterprises. Accounting and Business Research. 44(2).
pp.144-180.
Albu, N. and Albu, C. N., 2012. Factors associated with the adoption
and use of management accounting techniques in developing
countries: The case of Romania. Journal of International
Financial Management & Accounting. 23(3). pp.245-276.

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