Explain different methods used for management accounting reporting.

Task 1
This assignment is in the form of a business report:

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

B. Explain different methods used for management accounting reporting.

C. Evaluate the benefits of management accounting systems and their application within an organisational context.

D. Critically evaluate how management accounting systems and management accounting reporting is integrated within organisational processes.

E. Analyse three planning tools used in management accounting, indicating how effective you judge each to be and why. Your judgements should be supported by evidence.

Suggested structure for a short report:

- Executive Summary (An executive summary is a brief section at the beginning of a report that summarizes the document. It is not background and not an introduction. People who read only the executive summary should get the essence of the document without fine details.)

- Contents Page

- Main Body

- Conclusions & Recommendations

- Reference List

2:

Scenario
Produce a portfolio of completed calculations and analysis on company financial statements and income statements using variable costings.

Task 2

Part A
Renan Ltd makes a single product and produces management accounts, including a costing statement of profit or loss each month. In both May and June, 300,000 units of the product were produced. The production costs in both May and June were:

There were no opening inventories at the start of May and all of the production for May was sold. However, in June, only 280,000 units of production were sold, leaving 20,000 units in inventory. Each unit is sold for 14. Complete a simple statement of profit or loss, under absorption and marginal costing principles for the months of May and June.
This provides evidence for [P3]

Part B
Scenario:You should choose one organisation for this task. You have been hired as an external financial consultant by the selected business organisation. They have asked you to analyse their financial performance independently. Perform a thorough financial analysis based on the organisations` latest financial statements. Write a business memo to the management of the organisation to communicate the results of your financial analysis and recommendations.