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Management Accounting and Finance in U.K. museums and music organisations
Finance & Accounting
Pages 5 (1255 words)
Management Accounting and Finance in museums and music organisations of UK Abstract Management accounting plays an important part in decision making, planning and controlling for the organizations. The business firm have been seen to implement various accounting techniques, which helps them in attaining profitability…
The study found that they use techniques like variance analysis; activity based costing, budgeting and other methods in order to conduct the management accounting efficiently. Table of Contents 1. Introduction 4 1.1 Management accounting 4 1.2 Overview of Museum and Art organization 4 1.3 Research Objectives 5 1.4 Research Questions 5 6. Conclusions and recommendations 7 6.1 Recommendation 8 Reference List 10 1. Introduction 1.1 Management accounting Management accounting is that segment of accounting that specifically deals with accounting and reports the detailed information regarding the operation to the management of the organization in order to develop and incorporate decisions in different areas of business (Bhattacharyya, 2011). It primarily aims towards the decision making group who are responsible for enforcing managerial control inside the organization. Management requires frequent financial information regarding various aspects of the business in a timely manner that ranges from special purpose reports, which deals with department specific information to preparing of the budgets and forecasting the estimated cost encompassing the whole business (Bhattacharyya, 2011). ...
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