Explain management accounting and give the essential requirements of different types of management accounting systems.

Unit 05: Management Accounts

Introduction:

Managerial accounting, also known as cost accounting, is the process of identifying, measuring, analyzing, interpreting, and communicating information to managers for the pursuit of an organization`s goals

Completion of this assignment will address the following learning outcomes:

1

Explain management accounting and give the essential requirements of different types of management accounting systems.

2

Explain different methods used for management accounting reporting.

Task:

Title: Management Accounting Systems

You are required to produce a poster where the word count will be 1000 (+ / - 10%) and attend a short 5-7 mins Viva where you will be questioned on the content of your submission. The assessors may wish you to elaborate on some of the details you have included in your poster.

You are required to explain management accounting and give the essential requirements of different types of management accounting systems. Management accounting systems such as cost accounting, job costing, price optimisation and inventory management. Then state the essential requirements of some of these systems.

You should then explain the different methods for management accounting reporting including using some of the different reports available including cost reports, budget reports, performance reports and others.