Management Accounting Control System - Essay Example

Only on StudentShare

Extract of sample
Management Accounting Control System

The needs of it vary for different organization in accordance to business areas of their concerns. Its needs include:
As stated, preparing management account periodically is recommended but not mandatory. But, for the sake of business it is needed to maintain once in a month or quarterly in a year depending upon company profile and size. It is very hard to run a business efficiently without them.
In this era of information, information system is not getting utilized as it was expected. In management account information needs to be applied properly and adequately. The best way is to break down so that the performance of different elements of the business can be measured. For example, for one integrated Circuit manufacturing company, different flows can be broken up and later on aggregated. Flows may include mask design, photolithography, oxidation and etching etc. Or, if a manufacturing industry has various processes such as, molding, embossing or welding then they can be segmented as per their sequence and finally need to be mapped together. If any financial institution is taken under consideration then, it might have more than one sales outlet and for this case separate report for each outlet is required.
Management account specifically analyzes performances and includes sales, cash-flow and profit forecast which are treated as forward look ...Show more

Summary

In order to run one business effectively, it is essential for one manager to check whether business is keeping accurate records and accounts. Two types of accounting information are basically found in organization such as, financial accounts and management accounts…
Author : dfeest
Management Accounting Control System essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Management Accounting Control System"
with a personal 20% discount.
Grab the best paper

Related Essays

Contemporary Management Accounting System
Contemporary Management Accounting System Table of Contents Overview 3 The Concept of Management Accounting 5 The Drivers for the Changing Role of Management Accounting Practices 7 The Contemporary Business Environment 8 Role of Management Accountants in Contemporary Organizations 10 References 14 Overview Anthony G.
11 pages (2750 words) Essay
Management accounting system
For efficient function of the system the management will be required to gather variety of information both financial and non-financial. The sources of this information could be from both internal (within the company) and external sources (external environment for comparison purposes).
3 pages (750 words) Essay
Management planning and control system
Errors are unintentional mistakes committed by accounting clerks while dealing with journalising and posting activities. In contrast, fraud is a mistake committed by employees or managerial persons with intent to deceive the business owner. In a comparison, fraud seems to be a more severe issue as it is related to all organisational structures.
3 pages (750 words) Essay
Strategic Management Accounting System
The project report then looks at the aims and objectives of establishing a management accounting system and the characteristics of information flow at the strategic level. It also analyse the effectiveness of SMA system in the provision of information to assist the senior management team in the achievement of the corporate objectives at Highline.
8 pages (2000 words) Essay
Management Accounting and Organizational Control
The design, analysis and control of individual production units and networks are part of operational planning and control. According to OPC the production unit is defined as organisational entity. It should set the objectives regarding cost, quality and time by using the resources allocated to it.
11 pages (2750 words) Essay
Management accounting - contemporary approach
Therefore, this paper provides an insightful study of recent innovations in management accounting techniques and various controls employed on the part of the organisation to regulate managerial performance. The main theme underlying the development of this paper encompasses the developments in management accounting systems and the effectiveness of corresponding measures in regulating managerial performance.
18 pages (4500 words) Essay
What is a strategic control system what role does accounting play in a strategic control system are the strategic management accounting in Caterpillar effecti
On the other hand strategic control system can be considered as a process that determines the different strategies and methods that can help the company in the maintenance of
4 pages (1000 words) Essay
Management accounting and control
ls with the controlling functions in the organization; since the management does not have the facility to deal with the external factors that affect its performance it confines its planning route to the factors that are controllable internally. The budget, in simple words, can
10 pages (2500 words) Essay
Advanced management accounting
activity based costing, balance score card, budgeting, capital budgeting, total quality management, just in time inventory, target costing, bench marking. It deals with planning, coordination, motivation, allocation of resources and measurement of performance. Management control
6 pages (1500 words) Essay
ACCOUNTING FOR STRATEGIC & MANAGEMENT CONTROL
Controls systems usually contain procedures designed to check, regulate, restrict and authenticate the use and access of a system or any
3 pages (750 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT