In this essay, management accounting and different types of management accounting requirements are explained. Likewise, this essay explains several methods of management accounting reporting. The calculation of costs per unit under absorption costing and marginal costing and the differences between...
,Contents
Introduction
LO1
P1 Explanation of management accounting and different types of management accounting
requirements
P2 Explanation of several methods of management accounting reporting
LO2
P3 Calculation of costs per unit under absorption costing and marginal costing and the differences
between two methods
LO 3
P 3 Explanation of the several planning tool’s advantages and disadvantages used for Budgetary
Control
LO 4
P5 Process by which organizations are adopting management accounting system to respond to
financial problems
Conclusion
References
, Introduction
Service industry is a very broad category of business where hospitality industry is the part of it.
This industry provides several products and services to the coming guests and customers to
ensure their comfort and entertainment. The Areal ltd is just like the same. This hotel provides
quality services of accommodation, food, entertainment and more to satisfy its customers. It is
consists of many individual departments such as; reception desk, housekeeping, accounting,
maintenance, sales, marketing etc. All these department works together to make an effective and
efficient organizing system. Every department ensures to give their best to provide a uniform
service to the customers. Here the chief management accounting officer works immediately over
the production manager. The cost and production report includes all fixed, variable and
manufacturing costs, and that report is made by production manager.
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