Management Accounting Project: UCK Furniture Analysis and Strategies

This presentation analyzes the management accounting practices of UCK Furniture, focusing on designing effective financial plans and strategies to address financial issues impacting company performance and profitability. The presentation covers the types of accounting systems used, various methods employed in management accounting, and the benefits derived from an effective management accounting system, including its application in cost management and creating competitive advantages. It further explores the integration of the management accounting system within organizational processes, emphasizing the importance of analyzing financial data and records to improve efficiency. The analysis highlights the importance of an effective management accounting system for the success and development of the organization, as it aids in appropriate fund allocation and performance evaluation.

Management
accounting
Project 1

Cover content
• Introduction
• Management accounting and types of accounting system
• Methods used for management accounting
• Benefits of management accounting system and their application
• Integration of management accounting system within organisational
process
• References

Introduction
Management accounting is all about designing an effective plan,
policies and strategies for overcoming various financial issues which
may have a major impact on company performance as well as profit.
Therefore, assignment is going to highlight benefits of making
appropriate scheme which is adopted by accounting department of
UCK furniture.

Introduction
Management accounting is all about designing an effective plan,
policies and strategies for overcoming various financial issues which
may have a major impact on company performance as well as profit.
Therefore, assignment is going to highlight benefits of making
appropriate scheme which is adopted by accounting department of
UCK furniture.

Management accounting and types of
accounting system
UCK is one of the useful manufacturing organization whose main
objective is to design attractive furniture in order to facilitate
consumers for acquiring maximum revenue by satisfying their needs or
demands. However, financial department playing a major role in
company success because planning of organizational funds is very
much indispensable at workplace because it aids in executing several
business operations in much better way.

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Methods used for management accounting
Managers of an organization always tries to increase their company
efficiency by accomplishing various business operations in much
appropriate manner. Thus, in order to attain their set objectives they
need to analyse their financial data and records in much more
systematic manner.

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Benefits of management accounting system
and their application
Management accounting has different kind of advantages in business. It
is usually based on different kind of benefits and that create
competitive advantages by formulation cost effective process in
organisation easily. Management accounting is basically used to
manage cost and expenses of organisation in appropriate manner.

Integration of management accounting system
within organisational process
As per the above report, UKC furniture can easily make a well arranged
report that would determine overall execution of employees
performance in organisation. This is the duty of managers to create
uninterrupted assessment about their production stock as well as other
feature that can affecting the productivity and probability of UCK
furniture.

Conclusion
From the above report it has been summarised effective management of
accounting system is very much indispensable because success or
development of an association is depend upon appropriate allocation of
company funds.

References
Zaleha Abdul Rasid, S and et. al., 2011. Management accounting and
risk management in Malaysian financial institutions: An
exploratory study. Managerial Auditing Journal. 26(7). pp.566-
585.
Nielsen, L. B., Mitchell, F. and Nørreklit, H., 2015, March.
Management accounting and decision making: Two case studies of
outsourcing. In Accounting Forum (Vol. 39, No. 1, pp. 64-82).
Elsevier.

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