Management Accounting Techniques - Financial Problems - Management Accounting Assignment Help
AssignmentTask:

LO1 Demonstrate an understanding of management accounting systems

Assignment Brief

As an Assistant Accountant for a medium-sized enterprise in the manufacturing sector and, in an effort to promote understanding between different departments in the organisation, you have been asked by your line manager to write a report on the role and function of the management accounts department, covering the management
accounting systems operating in the organisation as well as the range of techniques used. The report should cover three key elements:

 (1) Explanation of management accounting and the essential requirements of different types of management accounting systems. Also, you may consider evaluating the benefits of management accounting systems and their application within an organizational context (such as British Telecom) in order to strengthen your report/presentation. A critical evaluation of how management accounting reporting is integrated within organizational processes will further enhance your credibility as an experienced accountant.

(2) Explanation of different methods used for management accounting reporting.

LO2 Apply a range of management accounting techniques

Conway ltd has approached your company for an advice regarding the use of a suitable management accounting tool which it can use its processes. Your line manager has handed the task over to you, and you are required to prepare and deliver a five minutes (upto6 slides) presentation using the information from Conway ltd. The presentation should:

  •  Accurately apply marginal costing and absorption costing in order to (3) calculate costs (cost per unit and total cost, and produce financial reports (such as income statement and balance sheet) that accurately apply and interpret data for a range of business activities.

Output and sales 40,000 units.
Sales per unit £15
Material cost per unit £4
Labour cost per unit £4
Variable cost per unit £2
Fixed Production Overhead £50,000

Unit Learning Outcomes

LO3 Explain the use of planning tools used in management accounting.

LO4 Compare ways in which organisations could use management accounting to respond to financial problems

Assignment Brief and Guidance

In your role of assistant management accountant, you have been asked by your line manager to produce another report which analyses the organisation’s use of planning tools to ensure financial stability and performance as well as ways in which management accounting has played a key role in preventing and solving financial problems. Following are the key contents that you have to include in the report.

(4) Explanation of the advantages and disadvantages of different types of planning tools used for budgetary control. You may also want to consider analysing the use of different planning tools and their application for preparing and forecasting budgets.

(5) Compare how organisations are adapting management accounting systems to respond to financial problems. In addition, you may also analyse how, in responding to financial problems, management accounting tools can lead organisations to sustainable success. Also, consider evaluating how planning tools for accounting respond appropriately to solving financial problems to lead organisations to sustainable success.

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  • Uploaded By : Mitchell Lee
  • Posted on : October 23rd, 2018

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