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May 10, 2023

    Management accounting also known as managerial accounting is a system which helps to analyze the business costs and helps in preparing financial reports for achieving the target for the company. It gives accurate and timely financial reports of the company. These reports generally shows the budget of the company, revenue generated from the products raw material stock, outstanding debts, etc. This report will focus on the management accounting system of Tech (UK) Limited, like they are producing charger for mobile telephone and other carry-on gadgets for the retail outlets in UK. In this report we will discuss about the management accounting of the company, and why there is an essential requirement of management accounting system. This report will also be discuss different types of management accounting, difference between management and financial accounting, types of systems like cost accounting, inventory management and job costing system and types of managerial accounting.

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