Another term for Management accounting is managerial accounting. AllAsignmentHelp provides assignment services in every area of accounting. As we know managerial accounting assignment help is concerned about the use of accounting information that facilitate business decisions making. Moreover, it allows business managers to be better equipped in their management and control functions. Management accounting homework help provide students a platform to excel in their accounting classes and learn about various functions of accounting. One of the main function that managerial accounting serves is to collect accounting information which is useful for different managerial functions like planning, organization, coordination and control.
We have seen what is management or managerial accounting. Let us see what are the various functions of Managerial accounting homework help. We have used an apt image to express the various managerial accounting functions. The first and the most important function that it serves is the Financial planning and forecasting function. Let us use an example to understand the meaning of this term. One of the example from our accounting tutor is given below:
In 2011 Mr. Daniel has started a business. Mr. Daniel is well informed about the management accounting tools and principles. Now, after 5 years, he is operating good company. With the help of ratio analysis and cash and fund flow one can understand the financial forecasting. There are couple of benefits these analyses provide. With the help of accounting management principle it is easy to understand that which project is taking the cash and funds and whether the ROI and ROE is better than any other possible investment. Secondly, this also helps in making a robust financial planning framework for one’s business.
Interpretation Function: Another important function of managerial accounting assignments is to facilitate financial analyses.
Methodologies in Managerial Accounting
First methodology is activity-based costing (ABC): Robert S. Kaplan and W. Bruns initially focused on the manufacturing industry, where increasing technology and productivity improvements have reduced the relative proportion of the direct costs of labor and materials, but relative proportion of indirect costs increased.
Lean Accounting Assignment Help: Term lean accounting was coined during the 1970s. The purpose of Lean Accounting is to support the lean enterprise as a business strategy. It seeks to move from traditional accounting methods to a system that measures and motivates excellent business practices in the lean enterprise.
Tasks performed by Management accountant professionals: As we have seen that management accounting is not an easy area to handle. There are various tasks that are performed by the management accountants. The degree of complexity varies with the level of experience. Few of the known tasks performed are:
Cost–benefit analysis (CBA) : This is also known as benefit–cost analysis (BCA). It is a systematic process for calculating and comparing benefits and costs of a project, decision or government policy. Cost benefit analysis serves two purpose: It helps in the determination of the feasibility of an investment. Moreover, it provides a justification for the investment. Secondly, To provide a basis for comparing projects. It involves comparing the total expected cost of each option against the total expected benefits, to see whether the benefits outweigh the costs, and by how much.
Capital Budgeting: Another term that is used interchangeably is investment appraisal. This is the planning process used to determine the worth of the cash funding into new machinery, replacement machinery, new products, and research development projects by an organization. It is the process of allocating resources for major capital, or investment, expenditures. One of the primary goals of capital budgeting investments is to increase the value of the firm to the shareholders.
There are many more roles that are performed by the Management accountants. To gain more insight into Management accounting assignment you can use our online accounting assignment help.