UCK Furniture Group: Management Accounting System and its Benefits

This presentation provides an overview of management accounting systems and reporting methods relevant to UCK Furniture. It discusses various types of management accounting systems, including cost accounting, inventory management, price optimization, and job costing. The presentation highlights the benefits of each system, such as improved inventory valuation, cost control, and price optimization, which ultimately contribute to enhanced productivity, performance, and profitability for UCK Furniture. A critical evaluation emphasizes the role of these systems in maintaining productivity and supporting informed decision-making. The presentation concludes that effective management accounting is crucial for providing accurate and timely information to managers, enabling them to improve company performance.

Management Accounting
Task 1

Cover Content
 Introduction
 Types Of Management Accounting System
 Different method for management accounting reporting
 Different advantages
 Critical Evaluation Of Accounting System
 Conclusion
 References

Introduction
 In present time, management accounting is consider to be one of the
most effective aspect for a company that is used by internal manager of
company to analyze their financial performance as well as development
opportunities in future time.
 In this power point presentation importance of management accounting
system and report has been discussed that help manager of UCK
furniture to make importance decision.

Types Of Management Accounting System
 Management accounting: In business world, management accounting
is the presentation of accounting information that help to make
important policies that have to be adopted by manager of company.
 Cost accounting system: A product costing system also known as
costing or cost accounting system is a framework that assist manager of
company to estimate cost of different product and services offered by
them.

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 Inventory management system: This system is helpful for the internal
manager of company that supervise the supply of goods from
warehouse to the point of sale.
 Price optimization system: In order to control prices of product and
fix the best suitable one that attract large number of customer manager
of company uses price optimization system
 Job costing system: A job costing system includes the process of
ascertaining the useful information about the total cost related to certain
production or services job.

Different method for management accounting
reporting
 Manager of company use to record all useful and valuable information
that support them to manage their overall business transaction in
effective manner.
 Inventory management report
 Account receivable report
 Budgets report
 Performance report

Benefits of management accounting system
Accounting systems Benefits
Inventory management system This system help in maintaining proper quality of inventory and valuation of entire inventories can
be done in more effective manner.
Helps to heighten productivity of an organisation and also aid to control extra costs.
Job costing system With the help of this accounting system, UCK group would be capable to achieve and analyse total
costs of manufacturing products during the time.
It also help to check total quality of work done. It is mainly related with an single jobs within
company.
Price optimisation system With the benefit of this system, managers are able to examine general perception of buyer about
organization commodity and services.
It also help in accomplish total profitability in various business operation and fix best appropriate
cost of a goods.
Cost accounting system This particular system will help in calculating total costs of manufacture at a particular time period.
With the help of cost accounting system, company can carry correct efficiency in their working and
control of costs in systematic manner.

Critical Evaluation Of Accounting System
 Management accounting system and report are helpful in maintaining
productivity within company. And result in increasing efficiency,
performance and profitability of UCK furniture.
 Different system such as cost accounting system help to control cost
involved in production process.
 Price optimization system support manger of UCK furniture to analyses
the spending capacity of client and fix the best price of their product so
sales can be improved.

Conclusion
 From the above power point presentation, it has been concluded that
management accounting, is related to the process of making
management reports and accounts on regular basic that further help to
provide accurate and timely information to manager.
 Different system such as inventory management, cost accounting help
to analyses and improve performance of company.

References
 Quattrone, P., 2016. Management accounting goes digital: Will the
move make it wiser?. Management Accounting Research. 31. pp.118-
122.
 Gates, S., Nicolas, J. L. and Walker, P. L., 2012. Enterprise risk
management: A process for enhanced management and improved
performance. Management accounting quarterly. 13(3). pp.28-38.

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