Management Accounting Report: UCK Furniture, Systems and Integration

This report provides an overview of management accounting, focusing on its application within the context of UCK Furniture. It explores various aspects of management accounting systems, including cost accounting, inventory management, and price optimization, detailing their benefits. The report also examines different types of management reporting methods, such as account receivable reports, job cost reports, and inventory management reports, highlighting their importance in decision-making. Furthermore, it critically evaluates the integration of accounting and reporting systems, emphasizing their interconnectedness and the significance of accurate information for effective business operations. The conclusion summarizes the importance of management accounting in planning operations and leveraging various accounting and reporting systems to achieve maximum benefits.

Management Accounting
PART 1

Covered content
• Introduction
• Types of accounting system
• Different types of reporting system
• Benefits of using management accounting system
• Integration of both accounting and reporting systems
• Conclusion
• References

INTRODUCTION
In contrast, managers of a particular business oftentimes require
far more detailed financial data. This information need to be
tailored to be a specific decision making activities for the
managers and their structure that are vital part of UCK furniture.
Managerial is all about providing data in relation to the internal
management processes. The basic aim of the company is to
known specific information about key aspects those are related
with the internal department of the company.

Concept and types of management
accounting as well as its essential use
Management accounting is said to be a profession that consists of
partnering in effective decision making, reliable planning and
overall performance management system in providing expertise
in reporting as well as control the operation of the company. It
has been seen that financial accountant is more seen with the
value-creator between financial analysts.

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• There is various management accounting system that are
beneficial for the company in its daily business operations.
Some of them are mentioned below:
• Cost accounting system: It is said to be that particular system
which will be use by UCK furniture company to determine
total cost they are incurring on the production process of
wooden products.

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• Inventory management system: It is said to be more effective
system that is used for the purpose of managing and control all
the inventories related information that are associated with the
company during the period of time.
• Price optimisation system: It is simply related with the overall
perception of the customer related with the cost of products
that are set by UCK furniture during the period of time.

Different types of management reporting
method
In respect to UCK furniture business, it has been seen that they
are planning to provide specific information about the system and
reporting system to their new interns. This will help them to
known each and every information accurately and make reliable
decision while working on their different projects.
The reports are often including a detail information of the
company’s financial performance as compare to the last year
basis.

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• It will assist financial manager and other related parties to make
profitable decision in comparison to the activities that are planned
by the manager of UCK furniture. There are various types of
accounting reporting system. Some of them are mentioned below:
• Account receivable report: It is known as that particular report
that are based on periodic basis and divided into various
accounting format as per the duration of payment length of
unpaid invoices.

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• Job cost report: As per this particular report, it has been
examining that effective tracking of cost and earning can
easily be determining for the particular period of time.
• Inventory management report: This particular report is
simply related with the effective management and controlling
of the opening and closing details of the stocks that are held by
the UCK furniture during the period of time

Benefits of using management
accounting system
Types of accounting system Benefits
Cost accounting system It can assist UCK furniture in evaluating selling cost which remain changing as per the size of
production done by the company during the time. By the help of this total cost can easily be examine that
are invested by the company.
Inventory management system The main advantage of using this system is to determine right kind of stock entries made by the
accountant into their respective format with the use of right systems.
Price optimisation By the help of this overall perception of the customer can be determine regarding the prices charged by
UCK furniture.
Job costing system The biggest benefits is that it must be accessible to the client or other investors before making any
financial decision.

Critical evaluation of various reporting
method and system integration
From the this analysis, it has been seen the both accounting and
reporting are directly related with one another. The accountant
need to make effective information after the correct entries made
in the respective format of the statements. Certain reports such as
performance reports are made with the motive comprising the
perform UCK furniture as per the last year data.

CONCLUSION
From the above presentation, it has been articulated that
management accounting is one of the crucial aspects that are help
business organisation to plan their operations more effectively in
coming period of time. For this purpose, use of various types of
accounting and reporting system has been taken into account
more effectively. Further, analysis of the benefits of using system
and their integration with reporting are also examine to get
maximum benefits in coming future time.