+91-9519066910

Sample

Management Accounting Assignment Help Uk

UK Assignment Help

Management Accounting Assignment Help Uk

Rating:

 Management Accounting

Executive Summary

The under define report is based on the financial management, based on the learning outcomes it is being answered accordingly. Thus it stated that the company TSR Pvt. Ltd needs an analysis on its financial management with provided relevant case study. However, the company has mentioned they have three kinds of products which are analyzed with the help of marginal and absorption costing under the annual report assumption on production costing. The company has also mentioned that they a proper regarding all the process related with the accounting tools and technique which are applied in the to consume data for a proper evaluation.

Introduction

TSR Pvt. Ltd is a company who produce different manufacturing products such as radiators, fans and packaging boxes. According to Otley, (2016), definition of management accounting is known as cost accounting use for the process of analyzing the business cost and operations to prepare internal financial report, records and the accounts referred from the path of managers’ decision in process making to reach the goal of the business. This theory is being applied by the company for improving their business in the market. The company has stated that management accounting is an event around the business while considering the need of the business. TSR Pvt. Ltd has emerged with the data related with the products. The management has provided the annual report of the products with which calculation of each unit will be preceded.

For evaluation of the calculation and the report following learning outcomes are needed for the company analysis. Firstly, the report stated to demonstrate the understandings of the management accounting system. Secondly, the range of management accounting techniques, thirdly, the report requires an explanations about the planning tools used in management accounting and its usage. Lastly, the learning outcomes stated about the needs to compare the ways by which organizations could use the management accounting in rejoinder to the financial problem.

LO1. Demonstrate an understanding of management accounting system 

P1. Management Accounting and its requirement of different types of management accounting system 

TSR Pvt. Ltd has mentioned their management point of view, as they wanted their company to achieve the set-up goal of their business. The company has specified their accounting system with the form of accounting that enables a business conduct with more effectively and efficiently. They are hugely concern for getting the economic information from the managers for providing a proper way for achieving the goals for the company. Management accounting is said to be the accounting information with the nature of financial service for the company other than organizing in the method interrelated directly to the decision (Renz, 2016). The company has maintained their management accounting with the help of some fundamental objectives that enables the ground of the management to maximize their profit at the end of the year or minimize the loss. The company has an evaluation with the new approach for performing the accounting objectives. Thus, TSR Pvt. Ltd has implemented their management accounting with the following objectives;

Policy and planning formulation: The Company has focused on the available information for scenery the goals, policy framing with a proper determination of the alternative course of action and deciding the activity programmer (Cooper et al., 2017). TSR Pvt. Ltd got help from the management accounting greatly in direction. However, the estimation for the future facilitates the preparation of company’s statement.

Interpretation process: TSR Pvt. Ltd presented financial information with the help of the management accounting. The company has stated that management information helps the management with technical nature. Thus, the company only signifies that they will present the financial information that could be understood easily. The statistical data is used to gather up the accounting information with the help of charts, diagrams, graphs, etc.

Assists in Decision making process: The Company has implemented the assists in decision-making process with the modern technique of management accounting along with various kind of scientific process. TSR Pvt. Ltd has related to data costing, price, profit and saving for each of the options available that are collected and analyzed with the provided base of taking decision. 

Controlling:  The Company made useful management accounting to make decision with the managerial control. TSR Pvt. Ltd used management accounting tools such as standard costing and budgetary control taking the help of controlling performance. Thus, the cost control has affected the company with the help of controlling performance. With the use of the budget, costing and departmental standards made possible through the cost control of the company.

Reporting: The management accounting has the power to control the management fully informed with the latest position of the company as per reporting is concerned. The company management helps to take quick decision with the help of management accounting.

Thus, all the above-mentioned points are actively participated within the company and it plays an important role to grow in the market. 

P2. Explain different methods used for management accounting reporting 

According to the researchers, management accounting reports are of various kinds. The company has stated that among many of the methods the company has mentioned some of the methods that are followed by the company. Keeping an eye on the counts of money in every company is the work of managerial accounting (Quattrone, 2016). TSR Pvt. Ltd observed that managerial accounting reports with the needs of information are provided with the reports provided by the company at the end of the year. The company made a trim-cost and rewarded high performing employee with the cut languishing product lines for getting the best financial return for the year. However, they have used following reports to analyze their management accounting report and then took decision for maintaining only a single way for annual reporting. 

Budget Report: The Company made a small help to the business owners with the budget report for analyzing the performance and mangers performance and the cost control in the departments. The cost estimation of the company for the entire period is based on the actual expense for the prior year (Hopper and Bui, 2016). The cost trimming cannot be found if the company has made substantially over budget and thus the company may increase to the actual level in the future. The company provides incentives to the employees for providing the budget reports to the owner or the managers. However, in this way the budget fund can be given until the bonuses are provided to the employees for hitting the financial goals.

Accounts Receivable Aging: For making the report critical, the company needs the managing cash flow if they have extended credits for the customers in the business. Thus the company has made this report for the break down customers balance in the long way run. Most of the agents of the company have included different columns for the invoice mentioning those 30 days late, 60 days late and 90 days late or more (Ax and Greve,  2017). The manager of the company has used the aging report to support the company by providing the report with identified problems in the company collection process. 

Job Cost Report: The Company has showed the job costing expenses for the specific project financed by the business. They made sure that an estimation of the revenue could also evaluate the job’s profitability with the matched decision. It helped the company to identify the high-earning areas of the business to focus on the additional efforts in lieu of wasting time and money on the jobs that has low profit margin (van Helden and Uddin, 2016). 

 Inventory and Manufacturing: The company has maintained a physical inventory or the products produced by the company. Managerial accounting has subjected to the report made by the manufacturing processes with sufficient way to implement in the company (Hall, 2016). This can be considered as desecrate inventory for the business as per the cost is involved. 

With the study of the above mentioned strategy of maintain the managerial accounting the company has specifically chose the budgetary report to maintain the management accounting in the company. 

M1. Evaluate the benefits of management accounting systems and their application within an organizational context 

In admiration of the above referred points the company has assumed that management accounting and managerial accounting has a lot efficient way to conduct the business and with the help of this the company lend a hand regarding the growth of the business. Depending on the type of report, businesses get the best financial return at the end of the year. Management accounting has various ways to provide service but TSR Pvt. Ltd has decided to maintain budgetary report every year for the betterment of the company. The company has evaluated many benefits regarding the management accounting system and their application within the company in the manner of organizational context. However, maintaining the process of production high for the business, the company needs more amount of support with effect of the above-mentioned points.

LO2. Calculate costs using appropriate technique of cost analysis to prepare an income statement using marginal and absorption costs 

For calculating cost analysis with the help of costing tools and techniques, an income statement is being calculated under the analysis of marginal and absorption costing. TSR Pvt. Ltd is a company who manufacture radiators, fans and packaging products to supply in the market. The company has stated that they will make their calculation under the fixed and variable cost to calculate year ended profit (Tappura et al., 2015). The production cost function will be attached through the statement that is being stated with the format of absorption costing and with all of the assumed methods. Absorption costing is a partial formula adopted from the production cost. 

Marginal cost needs the following to calculate the marginal costing;

Variable cost per unit that remains constant (increase or decrease at the time of production changes)

Total fixed cost, which remain unchanged at a certain level of time and does not vary with the help of production. This means the fixed cost remains constant in terms of total cost

The total cost in marginal costing technique with fixed expenses and provides the same cost per unit to the certain level of production. 

On the other hand, the company has stated that they will also apply absorption costing with the help of the following components. 

With effect of the provided data from the annual report of the company, calculation of cost using the techniques of cost analysis to prepare an income statement with the help of marginal and absorption costing (Malina, 2018). In this report, the company needs to focus on the income statement of the firm of all the three products. The following table shows the income statement of the products where, radiators are considered as product 1, fans as product 2 and packaging boxes as product 3. 

The company, TSR Pvt. Ltd showed the cost of radiators with the help of following appropriate techniques 

In the last table, the company has shown the cost of producing packaging boxes for both 

The tables shows the accurate application of managerial accounting techniques and tools to produce the suitable financial reporting documents that will provide profit under the absorption and marginal costing if the company revive 5000units of radiators that are sold (Senftlechner and Hiebl, 2015). The given information will be subjected to information, which is available in at the time of manufacturing the fans and packaging boxes with relevant financial documents represents labour and material variance respectively. 

According to the method, the tools and techniques will be applied for the company to prepare the cost budget of the company.

 Accounting Assignment Help, Management AccountingAccounting Tutorial Assignment HelpSydney Company Accounting Assignment Help, Accounting System And ProcessAccounting Assignment Solution HelpAustralian Accounting StandardsFinancial Accounting Assignment HelpCompany Accounting Assignment Help

 

 DOWNLOAD FULL SAMPLE

Submit Works

Drop File To Upload Or
BROWSE
Assignment Help Australia

Our Top Experts


Karen Betty

Holding a PhD degree in Finance, Dr. John Adams is experienced in assisting students who are in dire need...

55 - Completed Orders


Daphne Lip

Canada, Toronto I have acquired my degree from Campion College at the University of Regina Occuption/Desi...

52 - Completed Orders


Mr Roberto Tuzii

Even since I was a student in Italy I had a passion for languages, in fact I love teaching Italian, and I...

102 - Completed Orders


Harsh Gupta

To work with an organization where I can optimally utilize my knowledge and skills for meeting challenges...

109 - Completed Orders


ARNAB BANERJEE

JOB OBJECTIVE Seeking entry level assignments in Marketing & Business Development with an organization...

202 - Completed Orders


KARAN BHANDARI

Current work profile Project manager- The Researchers Hub (2nd Jan 2016 to presently working) Researc...

20 - Completed Orders


Tan Kumar Ali

Sales Assistant, Mito Marina Assigned to the Stationery dept – assisted in merchandising, stock taking...

100 - Completed Orders


Wesenu Irko

Personal Profile Dedicated and highly experienced private chauffeur. High energy, hardworking, punctua...

200 - Completed Orders