HI5017 Managerial Accounting Assignment Help
Questions:
1. Identify any three (3) specific examples of the different types of management accounting methods and/or techniques from the case.
2. Are MAS relevant to contemporary organisations? Discuss this with reference to:
i) What evidence is there from the case company? Include examples in your answer.
ii) Compare and contrast this finding with one other journal article you will need to find that has discussed about management accounting systems in another real-life company or companies. Did this second study have similar findings as the first chosen article, or mixed and/or different findings? Explain with examples.
3. What conclusions do you make about the relevance of MAS in today's competitive and (in most cases),uncertain business environment?
4. Provide four (4) specific outcomes or lessons learned from each of the two articles' research findings that will be useful for management accountants in Australian companies to learn from, and justify your answer [i.e. provide 2 outcomes from each of the two studies].
Introduction
Management accounting can be considered to be a method of identification, measurement, analyzation and interpretation of different types of the financial reports and transactions of a company for its better and efficient management of its finances. In contrast to the financial accounting system the management accounting is basically designed for the benefit and the betterment of the internal managers and the leaders of the company for making better and sustainable internal decisions. In addition to this the process of management accounting also helps in the development of plans that can help in the process of the better development of the organizational plans and a more systematic way known as controlling.
Discussion
1. Ans
Different types of the tools and the techniques of the management accounting system is effective and it helps the company in having a better understanding of the internal and the external situations and also it is seen as an integral part in helping the different types of the development and implementation of effective strategies for the concerned company in the domain of managerial development. It will be of a great help to the company in understanding and the development of different types of the plans for the adoption of the better type of the strategies and also to meet the different types of the needs of the concerned organizations. The several types of the tools that are used for the management accounting are :
- Fund flow analysis
- Cost accounting
- Financial planning
- Cash flow analysis
- Budgetary control
- Marginal costing
- Standard costing
The major type of the objective of any organization is to develop and ensure ways and means for the maxization of the profits as this method is considered to be one of the most important tools and technique for meeting the organizational goal. The profit and loss accounts that are prepared by the companies and are attached with the Balance Sheet are very helpful financial instruments. They help the people of the said company to understand about the different types of the activities and operations that would be helpful for the organization to have a better look and understanding of the business concerns. It has been found out that cost accounting is very instrumental in the fields of pre determined cost, data types and similar type of the financial products and instruments (Afonso, Baxa, and Slavik, 2018).this tool is found o be very effective in the field of comparison of the available data and the differences in the information of the different types of the products and services. The standard costing is a type of the apprehended type of costing that is used as a yardstick. This type of the costing is used as a measure to determine the actual growth and the financial position of a company. With the help of the technique of the marginal costing the different types of the attributes like the selling price, the selection of the best type of the sale mix and the different types of the other materials and services are taken into account for the better flow of the services and the products within an organization. The decision making accounting technique is considered to be the best technique for the determination of the profitability of the business of a particular company(Almamy, Aston, andNgwa,.2016).It has been observed that in order to get the best type of financial aids the company can get the help of the best methods for the financial development of the organization from the afore mentioned tools. Apart from the different types of the management techniques the statistical tools are also very effective in the removal of the management hurdles.
In order to achieve the different types of organizational effectiveness some of the tools are mentioned below :
- Constraint analysis
This type of technique is generally applied o identify the different types of the principles that are associated with an organization. They are instrumental in the identification of the bottleneck so that they can help the organization in the generation of high amount of revenue and profit.
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- Product costing and inventory valuation
This techniques helps in the understanding of the delegation of the charges of the overhead on the different types of the products of the company. The inventory valuation is dealing with the identification and the valuation of the different types of actual costs of the commodities and the other types of the inventories of the said company.- Margin analysis
This techniques is mainly concerned with the different types of the advantages of the enhanced type of production in respect to the said company (Amelec, and Carmen, 2015). This process also tells to find out the break even point for the optimization of the sales mix with respect to the different types of the products.
- Accounting cycle
This is a type of holistic type of approach that is used to record and process the different types of the financial transaction of an organization (Ballings, Poel, Hespeels, andGryp, 2015). Then it is presented in the form of a financial statement for the transactions. Hence in order to maintain the process in an organised manner it is essential for the accounting cycle to be followed.
Trend and forecasting analysis
Trend analysis and the forecasting techniques are used to identify the pattern and the trends of the identified products with the help of the unusual values from the forecasted products.
In consideration of the abstracts from "The Case of a Newly Implemented Modern Management Accounting System in a Multinational Manufacturing Company", in the case of the instance of the Company A, in respect to the different types of the tools and techniques of the management accounting. The organization considers the tools and techniques for the mitigation of the different types of the decision making needs. The business enterprise is seen to make use of the KPI (Key performance Indicators) for a better and improved performance of the different types of the activities of the concerned company(Baranidharan and Vanitha, 2016).Additionally such types of the techniques are used for the additional decision making as well as for the tactical and the operational decision making process. However it has also been observed that the Management accounting system has several types of challenges that are in the form of different types of the tax reforms, staffing as well as in the domain of different forms of commodities as well as in the fields of cyber security. There are different types of major and the minor issues that areconsidered by the accountants of the organizations. It is necessary for the accountants to compare the different types of the tools and the techniques that will be very effective in the management of their accounting process(Batten, andVo, 2015).
2. Answer
Ans 2 (i)
From the study it has been seen that Company A, has an access to 27 countries with a sale in 100 countries. The data that was gathered in the process helped us to find out that the Company A, is rated among the top rated 10 companies in the International market. It has been observedthat a proper implementation of the management accounting system can help in the perfect implementation of the process of management accounting. The MAS can help in the perfect bridge for the development and the and maintenance of the different types of the ethical standards in the present day and system of corporate accounting(BeckerandIvashina, 2015).
The Company a has selected a set of methods and tools for the selection and the implementation of the different types of management tools in the application of a better type of the accounting standard.The MAS that can be developed with the help of the SAPR/3 systems is JIT, TQM, benchmarking and standardcosting. This system can allow for a systematic use of the techniques for a better type of performance.
Ans 2 (ii)HI5017 Managerial Accounting Assignment HelpThe main impact of the first type of the study is that though the application of a right kind of technique can be used in the determination of the greater relevance in the application of Mas but the selection of an inappropriate technique can lead to the Detrimental Effect of the concerned Company (Berzkalne, and Zelgalve, 2014).The company a has been observed to develop and implement a large number of user friendly functions. By the application of the technologies like SAP R/3 the company can provide a great deal of support to the concerned organization and can also help in the rationalizing different types of the systems that can be incorporated and considered as a type ofprominent triggers (Chang, W., Ellinger, Kim and Franke, 2016).The development of the new type of the system can develop some type of the complexities that may be beyond the level of the understanding of some of the managers in an organization. This can sometimes lead o the dissatisfaction among the employees as well as prove to a constrain as a functionality of the concerned organization SAP R/3 (Chen, Feldmann, and Tang, 2015).
It has been observed thatthe major issues of the companies in Australia is to cope up with the rapidly changes of the modern market situations as well as the different types of the pressure that is being imposed by the stake holders of the company in the concerned domain. The study suggest that the application of the MAS is no only to help in the management of the accounting principles but also in the strategic decision making strategies in respect to the concerned company (Busco et al., 2016). A survey has been conducted in the domain of CPA Australia that can be helpful in the understanding of the different types of the major implications and adjustment with respect to the changing environment.The study suggests that the application of MAS is mainly to provide support both in the field of management strategy as well as in the field of accounting principles.(Chen, Filardo, and Zhu, 2016).
3. Ans.
It has been observed that the organizations do face challenges mainly in the domainof uncertainty in the environment or the lack of the different types of the factual or the competency of the provided information. It has been observed that the different types of the generic issues over time has been a great issue in the field of understanding and development in the domain of management decision making (Chen, Dou, Rhee, Truong, and Veeraraghavan, 2015). Management accounting is a costly affair but it has to be found that this type of the process will help in the strategic implementation of the different types of the decision making process(Churet, and Eccles, 2014).It has been observed that the MAS has several types of constrains that can be removed by the proper type of strategic decision making techniques for the concerned company(Dobrzykowski, McFadden, and Vonderembse, 2016).
GAAP Compliancecan be considered to be one of the biggest issues in this respect. It has been observed that, activity-based costing has been found that there are different types of information management system that can be used to remove and mitigate the different types of constrains in the concerned process. Adaptability can also be a great factor of importance as it is directly associated with the user adaptability of the concerned system(Doumpos, Zopounidis, and Fragiadakis, 2016).Theflexibiliycan also be considered as one of the major disadvantages in the implementation of the MAs in the practical scenario with the utilization of the different types of the updated technologies(Edwards, 2014).
Company A has been observed to develop different types of innovation in the implementation of the management accounting system so that the feasibility of the greater implementation of the process is high (Gerschewski, and Xiao, 2015). The issues of Implementation has been observed from the Third party system to create a great hindrance in this concerned field.It has been found out that it is very necessary for the managers to develop and acquire special talents in this related field. It has been observed that though there are some problems in the field of management accounting, it can be seen that it has proved to be very helpful in the organization in the terms of planning, different types of the controlling, in providing the service to the customers, in the different sectors of organising, different domains of coordinating, in the development of the improvisation of services for the customers, in the different fields related to motivation and also in the different aspects of communication has been considered to be helpful in the organization.The company will try to develop the information from its different types of customers. The company is also very instrumental in the determination of the inflow and the outflow of cash as well as the tracking of the different types of raw material management in the concerned company (Haff, et. al., 2015).
4. Ans.
The different types of the outcomes that can be helpful for the different types of the accountants of the Australian Companies are :
- Key performance indicators these can be implemented in the different typesf the production process and the company can have a better facility for a greater and better production for improved and enhanced profits (Humayun, Degefa, Safdarian, and Lehtonen, 2015). The main type of the advantage of the MAS is that it can assist the company in taking better management decisions.
- The KPIs are generally designed with reference to the different types of the bench marking, involving such aspects as the planning strategiesand in the supply chain management techniques (Kaczynski, Salmona, and Smith, 2014).There can be an enhancement in the performance and efficiency of the performance of the said company by the application of KPI in predicted bench marking techniques.
- It can also be helpful in the process of tactical decision making(Kim, Morley, and Piger, 2015).This can help in the better strategy development of the concerned company.
- It can also be helpful in the issues related to Supply chain and the Customer chain(Kotane, 2015).
The lesson that can be learnt from the second article are:
- The major outcome that be devised is that it can be helpful in the process ofdifferent types of decision making, process in the planning, different types of the process in the field of evaluating and different types of activities in the field of monitoring which can help in the successful achievement of the goals.
- Benchmarkit is a special type of the tool that can be used in the domain of competitive analysisand a better evaluation for the development of greater pool of customer satisfaction (Lusardi and Mitchell, 2014).
- The MAS is used to develop the different types of theoperations in the organization, the different types of the environmentand its related factorsand the different types of the society.
- MAS can be useful in the development of sustainabletype of theinnovation and the different impacts of the globalisation of the company. Different issues in the field of Internationalization of Businesscan also be measured in the field of the global market.
Conclusion
From the above type of the study we can see that the implementation of the accounting system can help the companies in a number of spheres. It can also been observed that the different techniques to enhance the different types of the corporate activities. The study has revealed the relevance of the different types of the study from the different types of the studies in question. The comparison of the different types of the articles has been done in the study so that the actual importance and the implication of MAS can be observed and realized in the real time application to the companies. In this study we can see that the two types of the articles have provided substantial proofs in the real time financial management of companies by the application of the most innovative systems of MAS.
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