Management Accounting System Report: UCK Furniture - Finance Module

This report provides an overview of management accounting systems, focusing on their application within UCK Furniture. It explores key concepts such as budgeting, marginal costing, and risk analysis, highlighting their importance in decision-making. The report details the benefits of implementing these systems, including improved resource allocation and risk assessment. It also discusses various types of management accounting systems like job costing and inventory management, along with different report types such as operational budget reports and job cost reports. The conclusion emphasizes the advantages gained by UCK Furniture through the adoption of these systems, fostering better understanding across different departments and enhancing overall operational effectiveness. The report references relevant academic sources to support its findings.

Management Accounting
System
Part 1

Cover Content
 INTRODUCTION
 CONCEPT OF MANAGEMENT ACCOUNTING
 ESSENTIAL REQUIREMENTS OF DIFFERENT MANAGEMENT ACCOUNTING
SYSTEMS
 DIFFERENT TYPES OF MANAGEMENT ACCOUNTING SYSTEMS
 DIFFERENT MANAGEMENT ACCOUNTING REPORTS
 BENEFITS OF MANAGEMENT ACCOUNTING SYSTEMS
 INTEGRATION OF MANAGEMENT ACCOUNTING REPORTS
 CONCLUSION
 REFERENCES

INTRODUCTION
 Management accounting includes different kind of tools
and techniques like budgeting, marginal costing, risk
analysis, standard costing, value analysis, cost volume
profit analysis etc.
 All such techniques provides statistical and functional
information to the executives of organization for planning,
decision-making and selection of most profitable project
which provides higher return.

Concept of management accounting
 UCK furniture is manufacturing organization which deals
in two products Table and Drawer. It is understand by the
management of organization that large number of benefits
are gathered through implementation of management
accounting systems.

Essential requirements of different management
accounting systems
 Presentation of financial position
 Allocation of resources
 Assessment of risk

Different types of management accounting
systems
 Job costing system
 Price optimisation system
 Inventory management system

Different management accounting reports
 Operational budget reports
 Accounts receivable ageing report
 Inventory and manufacturing reports
 Job cost report

Benefits of management accounting systems
 Management accounting system enable in taking beneficial
judgement on the basis of short period consideration.
 It is really important to understand such facts and things
which reflect by the MAS so that effectiveness and efficiency
could be maintain.

Integration of management accounting reports
 Integration and combination of two aspects make things correct
and appropriate in nature so that better and suitable outcome
could be enforce in gaining effective and absolute results.
 Management accounting reports provide regular basis
consideration of operations which assist in gaining and making
better results.

CONCLUSION
 It has been concluded from the above report that, large
number of benefits are gathered by the management of
UCK Furniture through adopting accounting systems. It
helps them to create more understanding among their
different departments.

REFERENCES
 Albelda, E., 2011. The role of management accounting practices as
facilitators of the environmental management: Evidence from EMAS
organisations. Sustainability Accounting, Management and Policy
Journal. 2(1). pp.76-100.
 Zang, A.Y., 2011. Evidence on the trade-off between real activities
manipulation and accrual-based earnings management. The Accounting
Review. 87(2). pp.675-703.