MA515 Managerial Accounting Report: Analysis of Financial Solutions

This report analyzes managerial accounting principles within the context of competitive market forces and the need for cost reduction, using JB HI FI and ANZ Bank as case studies. It examines the roles and responsibilities of accountants in providing transparent financial and non-financial information, considering stakeholder interests. The report explores the impact of events on financial reporting, such as customer loyalty and banking transactions. It also highlights the importance of data security and client relationships. The report references the annual reports of ANZ Bank and JB HI FI, and discusses the use of reconciliation and accounting systems to enhance shareholder value. It concludes by emphasizing how external events can impact both management and accounting practices. The report addresses the need for critical analysis and adaptable approaches to problem-solving in the field of managerial accounting.

Managerial Accounting

Due to the dynamic market forces and the increased competition, the pressure to decrease
the cost means the consumer goods are fully available and the companies like JB HI FI shall be
fully aware of the competitive prices and the company must have a clear knowledge of the costs
of their and its competitors (JB HI FI, 2018). As there are more companies that are into the same
market and following same routes and the, it becomes a buyer market and the buyer has more
options to opt for the games. Secondly the buyer has a lot of variety and the options to invest in
the bank like ANZ where the interest rates are higher and the returns are also higher. Hence
further, it is advised that HJB HI FI limited and ANZ bank should constantly review their prices
and manage them appropriately. The major role of the accountant is here to devise such strategy
that can benefit the companies like JB HI FI and ANZ bank have so that he customer base can be
increased (Eisenberg, 2017).
Secondly, the modern reporting process the responsibility on part of the accountants have
increased and the same will create a major impact on the business environment and the majorly
on the accountants of the organization. The accountants will also focus on providing the
transparent information of both the financial as well as non-financial nature. These days the
stakeholders and the investors are also interested in the non-financial parameters and this itself
can create a greater impact on the accountants and their style of working. In case of JB HI FI the
events can impact the information provided by the accountants when consumer goods are
evaluated on the basis of the loyalty of the customer or when the deposits are made in ANZ bank
that provides the other facilities (Jefrey, 2018).
The accountant have also become aware with regards to the security of the confidential
data and keeping proper access with the information. The information is not disclosed unless and
otherwise it is required. This creates a better client management relationship among the

companies. In the present scenario in case of ANZ bank, the accountants are careful in making
the particular transaction so that the client satisfaction can be maintained to the utmost level
(ANZ bank, 2018). Like ANZ bank has used the process of reconciliation to streamline the
operative transactions of the business, whereas the JB HI FI has installed the system of
accounting that enhances the shareholder value and investors. The financial actions are also
interpreted form the outside world and the same is analyzed and communicated to the
management. So if there are any events up the major impact also faced not only on the part of the
management but also on the part of the accountants.

References
ANZ bank, (2018). Annual report. Retrieved from
https://www.anz.com/content/dam/anzcom/shareholder/anz_2018_annual_report_final.pdf
Eisenberg, M. A. (2017). Legal models of management structure in the modern corporation:
Officers, directors, and accountants. In Corporate Governance (103-167). Gower.
JB HI FI, (2018). Annual Report. Retrieved from https://investors.jbhifi.com.au/annual-reports/
Jefrey, C. (Ed.). (2018). Research on professional responsibility and ethics in accounting.
Emerald Publishing Limited.