on Management Accounting - Essay Example

Free

Extract of sample
on Management Accounting

Management accounting has a design and intention, used by the management in the organization. Confidentiality plays an enormous role in management accounting as opposed to financial accounting. The information in management accounting has a computational dimension tailored for the managers; it uses management information systems, as opposed to financial accounting standards. Various concepts of management accounting exist for usage by managers and management teams within organizations and companies (Caplan, p. 156). This information plays a crucial role in decision making processes within the organization and also assists in the formulation of strategies, business activities and enhances the budget making process within the organization. Management accounting involves the process of measurement, identification, analysis, accumulation, interpretation, preparation and communication of information by managers in planning, evaluation and controlling an organization, entity or firm. This process ensures appropriate use and accountability of the entity’s resources. Management accounting could also involve the preparation of fiscal reports for non-management groups within the entity (Caplan, p. 158). This group includes creditors, shareholders, tax authorities and regulatory agencies. ...
Download paper

Summary

Name Professor Course Date Management Accounting Introduction Management accounting concerns the provisional use of accounting data by managers within a Corporation or organization. This information provides managers with the ground for making informed business decisions…
Author : opalberge
Download 6

Related Essays

Lean Management
From the research it can be comprehended that the models and concepts which influence the pricing decisions of a firm are management accounting decisions. The pricing strategy of a firm is influenced by several factors which include the fixed and variable costs of the firm and the environmental factors which include legal analysis and competitor analysis. Some of the specific concepts in cost accounting are lean accounting, resource consumption accounting, transfer pricing etc. Manufacturers need to consider various fields like the supply chain process, the assets risk to low cost etc. while...
9 pages (2259 words) Essay
An analisys of Management Accounting
This research aims to evaluate and present the models and concepts affecting the pricing decisions taken by organizations, critically reflecting upon their usefulness. The price variable is the one of the significant ingredients in marketing mix of the organization. Price itself can effectively communicate with the consumers regarding the product or service. So, “when the pricing decision is made, the organization must consider several factors. These factors” such factor includes, Regulation of government, Perceptions in the market, supply, desired pricing position of the organization,...
13 pages (3263 words) Essay
Organisational Context of Management Accounting
This paper illustrates that the governance framework of Ivy League University is decentralized where the various departments are separately administered and consolidated centrally for the purpose of financial reporting and regulatory requirements. The university receives research grant funds for which it has a fiduciary responsibility. The revenues from grants and contracts constitute 30% of the total operating budget of the University. The consolidated grant activity is reported other university funds because improper management of grant funds increases the risk position of Ivy. The grant...
9 pages (2259 words) Essay
Finance and Accounting Essay: Fund Management
The paper will evaluate the causes of the changes that have caused the retail investment funds to capture the china market, and the changes that are anticipated to occur in the future. Therefore, retail investment funds are type of mutual funds where various individuals pool their asset together in order to access investment opportunities that would not be obtainable to them. Retail investment funds in china Retail investment funds have gained popularity in the emerging market because in the fifteen years ago few people were unaware of the existence of the retail investment funds (Jeffrey,...
11 pages (2761 words) Essay
International Management Accounting: Answering Questions
Answer: In the era of merging cultures and competition in businesses, the criticality of management role and decision-making strategies has increased significantly. Decision making on the basis of estimates and assumptions has far been obsolete. The need of a systematic approach for decision-making has been felt, by companies and organizations to improve the authenticity and accuracy of the decisions made (Gelinas et al., 2010). This need urges the researchers and analysts to devise a methodology, which covers the useful data and information about the company’s revenue, loss and...
11 pages (2761 words) Essay
COST AND MANAGEMENT ACCOUNTING ESSAY
However, this paper analyzes only two branches of accounting namely financial accounting and management accounting. This report aims at analyzing these two branches in details by looking at each branch separately in regard to accounting. The paper also looks at the differences between the two branches of accounting basing on various factors. Financial accounting It is a branch of accounting that deals with finding and giving information on the profitability of a business. It aims at compiling financial statements of an organization and preparing them so that they show the financial position of...
8 pages (2008 words) Essay
ADVANCED MANAGEMENT ACCOUNTING
Managers, as a result, are employed with the various costing and pricing methods to identify a suitable price for the products they offer. In the industries and businesses where innovation, uniqueness and transformation is found on a higher level, costing and pricing issues become more complex and complicated to manage. The products under such industries like fashion products, clothing, technologically rich industries like video gaming, computers etc. have shorter life and the costs incurred need to be realized and profits earned within the limited time frames before a new product hits the...
8 pages (2008 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!