Question : This assessment will cover the following questions: Examine the function of management and financial accounting and what are the key differences between these two. Analyse the profitability, debt and liquidity and investment structure of the company. What are the necessary improvement that can be made to enhance performance of the company. Answer : INTRODUCTION In the recent times, business units lay more emphasis on undertaking competent strategic and policy framework with the motive to make optimum use of funds. Moreover, without having wide framework business unit faces difficulty in getting desired level of outcome or success. Now, several tools & techniques are available which firm can use before taking decision pertaining to investment and financing decision. The present report is based on different case situation which will develop understanding about the concept of management and financial accounting. Further, it will shed light on the aspects on the basis of which management accounting differs from financial. Along with this, report will exhibit how concept pertaining to ratio analysis and capital budgeting aid in decision making. QUESTION 1 Explaining Management and Financial Accounting Management accounting: It refers to the presentation of accounting information which in turn used by management team for the formulation of policy framework regarding day to day activities. MA assists management team in performing functions related to planning, organizing, staffing, directing and controlling. In other words, the main function of MA is to make appropriate forecast about production and selling aspects, cash inflow & outflow (Eldenburg and et.al., 2019). In addition to this, aspects of MA also focus on identifying specific cost centre and delegation of roles and responsibilities which in turn helps in achieving success. Financial accounting: It implies for the collection, summarization and presentation of monetary information that resulted from business transactions. FA reports furnish information about operating profit and business value to the concerned stakeholders (Steccolini, 2019). Hence, financial accounting technique is undertaken by businesses with the motive to serve information to all the stakeholders in an acceptable and standardized format. In this way, it can be stated that financial accounting process is employed by the firm for showing financial position and performance to both internal and external stakeholders (Weetman, 2019). There are several functions which in turn associated with financial accounting aspects. This in turn includes recording of systematic records, communicating results to the stakeholders, budget preparation and cost control. It is highly significant which helps in analyzing areas where improvements are needed. In addition to this, by analyzing performance company can set appropriate budget for the upcoming time frame. Get Expert Help We can help in getting your scores back on track. Get expert help from our writers. Dissertation Help Media Dissertation Law Dissertation Writing Presenting Difference between Management and Financial Accounting Differentiation between management and financial accounting is enumerated below: Basis of difference Management accounting Financial accounting Meaning It helps management team in making effectual decisions about business. FA refers to the classification, analysis, recording and summarization of financial affairs associated with the company (Stockenstrand and Nilsson, 2017). Objective MA is undertaken by the firm for offering management team with wide framework for ensuring informed decision making (Chibili, 2019). The main motive behind undertaking financial accounting practices is to provide outside parties such as investors, creditors etc with suitable information for decisi UPTO50% Avail The Benefit Today! To View this & another 50000+ free Enter Email Submit
Get Expert Help We can help in getting your scores back on track. Get expert help from our writers. Dissertation Help Media Dissertation Law Dissertation Writing
INTRODUCTION Management accounting is defined as the process of determining the cost of business and operations to prepare financial records and reports that supports decision-making of management in achieving the goals of company (Childress and et.al, 2015). The Report is based on Prime
Clatworthy, García, Lara & Lee, (2020) established the fact that Accounting is referred to one of the most crucial processes which is useful in recording the various set of financial information pertaining to the organization. The accounting process is considered to be very useful in
INTRODUCTION Management accounting is a form of accounting which is linked to systematic procedure of acquiring monetary and anti-monetary information from different sources. This gathered information is being used by accountants in order to produce internal managerial reports. These reports are
Introduction: The management accounting is the section of the general accounting system which provides cost-related data and reports to the management of an organization so that they can make the best decision. The management of an organization plays the best role to achieve success by the
MAIN BODY Part A Question 1. (A) Ifyouwerea banker, why would you need information from PepsiCo’s financial statements? Bankers need the financial statements for multiple purpose. Basically, bankers ask for financial statements for companies at the end of a financial year. Generally, banks
INTRODUCTION Accounting system is the system that are using for the revenues, expenses and also for other financial activities of a business. It is helping to track the business financial transactions such as purchases, liabilities, sales etc. it is capable for generating comprehensive
INTRODUCTION Management accounting is the process of utilization of appropriate ideas and strategies to help the executives in building up plans for sensible financial targets. The report presents and comprises significance of the management accounting and diverse kinds of managerial accounting
INTRODUCTION Accounting information system is a procedure which includes collection, storing as well as processing of financial information. Financial information is used by management for making important business decisions. Market position and growth of firm is the foremost criteria which
INTRODUCTION This project is all about providing crucial information about various management accounting aspects those are associated with an organisation. It is utmost vital part of any business to record all their financial transactions in their respective statements so that valuable outcomes
INTRODUCTION Accounting is one of the crucial aspects for an organisation like Tech UK which is operating in order to produce appropriate products and services during the period of time. The main aim of this module is to introduce all fundamental matters of management accounting which is applies