Nobody downloaded yet

How Can Management Accounting Techniques Assisst the Management of a Real Life Company - Essay Example

Comments (0) Cite this document
The paper talks about business environment and companies which have realised importance of management accounting to improve the quality of their decision making process. As the companies have to face the increasing completion in the market; hence they cannot rely solely on traditional accounting. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.6% of users find it useful
How Can Management Accounting Techniques Assisst the Management of a Real Life Company
Read TextPreview

Extract of sample
"How Can Management Accounting Techniques Assisst the Management of a Real Life Company"

Download file to see previous pages Arcadia Group Limited is UK's largest privately owned clothing retailer that operates approximately 2,500 outlets. These outlets offer street’s best known fashion brands to different market segments (Arcadia Group Limited, n.d.). TopShop is mainly engaged in selling of women clothing and accessories. The company is also focusing on on-line selling of the products. This retail chain offers clothes mainly for young females. Other fashion products like shoes, accessories, make-up and gift items are also available in these outlets. TopShop was launched in 1964 to cater the growing demand for fashionable clothes among females in UK. From then onwards it turned out as a style symbol that caters the imagination of fashion icon people in UK’s retail industry. Within UK the retail chain has over 300 outlets and around 100 outlets are operating in international territories. Considering its success in the target market it is quite difficult to accept that this brand once had its beginning in the basement of Peter Robinson department store. It took almost a decade for the brand to emerge out as a stand alone retailer. Back in 1994, TopShop got an opportunity to acquire its own identity. At that time 90,000 sq ft area was acquired at London Oxford Circus to open a unique outlet solely for TopShop. This outlet gave an identity to the retail brand; till date this outlet is world’s largest fashion store that attracts more than 200,000 shoppers per week. The brand image of the company is enough to attract international designers. The retail has a history of collaboration with some well known international designers like Celia Birtwell and Kate Moss that gave an extra edge to the brand name of TopShop. With...
This paper stresses that a retail outlet sells large amount of finishes products that require regular updating of data. The sale to stock ratio is low because large portion of working capital remain engaged in inventory. As the business cycle is short in length, hence cash-flow balance is quite critical. The suppliers are always in hurry for their payments whereas the customers prefer to make delay.
This report makes a conclusion that a retail outlet can confirm poor management if it encounter over crowded cash counter during festive session, the invoice process take time and customers has to wait long and inaccurate data in the invoice such as mistake in weight, item or amount. These are the signal of inadequate availability of information that can be rectified with help of management accounting system. The author says that with help of management cost accounting tools, company can generate ample reports that provide in-depth information about performance of different departments. Among these tools, activity based management is the one that has gained high popularity. Activity based management can be segregated in two distinct section; the first one is activity based costing where cost incurred at different point in the operational process is identified and then allocated to specific activity centre. The second section deals with strategic decision were management take decision about re-engineering of the activity. There are other techniques of management accounting such as cost volume profit analysis where the management calculate contribution ration that reflects profitability of the business. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“How Can Management Accounting Techniques Assisst the Management of a Essay”, n.d.)
Retrieved from
(How Can Management Accounting Techniques Assisst the Management of a Essay)
“How Can Management Accounting Techniques Assisst the Management of a Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Real Estate and Property Management Company report. Maxima Real Estate Development Company
...the commencement of my contract as a company’s organizing secretary, a sensitive capacity with challenging tasks indeed. However, I once more call upon every member and stakeholder to create good rapport with the community and corporate to enhance better performance in the real estate development and management sector. References Banfield, A. 2005. 5th Edi. Stapleton's Real Estate Management Practice . London- UK: Taylor & Francis. Barry, Haynes., &. N. 2010. Corporate Real Estate Asset Management: Strategy and Implementation. London- UK: Routledge. Bradstreet, D. &. 2011. Key British enterprises: Britain's top 50,000...
10 Pages(2500 words)Essay
Upstream supply chain management: real estate development and construction company
...?Upstream Supply Chain Management: Real E Development and Construction Company The ultimate objective of any effective supply chain management system is to decrease inventory and to minimize expenses. Supply chain management flows of the firm I work for are divided into three major flows: the material flow, the information flow and the finances low. At my place of work, a lot of materials are used especially stationery, computing equipment, construction materials and equipment. When a need has been identified by an individual, the individual is expected to raise the issue with the department with which he or she works. The department’s representatives analyze the need and the alternative products that can be purchased to fulfill the need... settles on...
2 Pages(500 words)Essay
Management Accounting --
...?When designing and implementing a new management accounting system or technique, contingency management becomes important because it can assist in reaching the organisation’s goals and objectives. Contingency leadership plays an enormous role in the makeup of a business organisation. This contingency management depends on the manager’s personal leadership style. It also relies upon the talent and behaviours of the regular employees. The contingency theory is a line of thinking that there is no one ideal way of leadership. It also contends that certain leadership styles may be effective in some situations, but not so in others....
3 Pages(750 words)Essay
Management accounting
...?MANAGEMENT ACCOUNTING al Affiliation) Management accounting combines finance, accounting and management with other leading edge techniques necessary for managing a successful business. The fact that organizations are made of people the management structure must accomplish its objectives by working through the people. Since the director’s of companies cannot execute their company’s strategies on their own, they have to rely on people and thus create an organization structure that allows decentralization of management responsibilities. According to...
6 Pages(1500 words)Essay
Management accounting
...bound to invest in the best cost-effective strategies to manage its accounts. Some of the commonly used strategies implemented to control variable costs and fixed production overhead costs include but not limited to: 1) Constant Cost Monitoring: just as the subject implies this procedure involves monitoring and accounting for every penny invested in the business. This is how big businesses keep afloat; by ensuring that every penny is accounted for, they are able to balance their books by counterchecking their expenditures against their returns. Monitoring costs and more so variable costs, enables the management to make ‘active’ decisions based on...
4 Pages(1000 words)Essay
Management Accounting Techniques and decisions
...? Management Accounting Techniques and decisions Contents Role of benchmarking in evaluating manager’s performance 3 Budgetary planning and control systems: impacts on business performance 5 References 8 Role of benchmarking in evaluating manager’s performance The statement that manager’s should be rewarded only on the basis of performance and that there should be no salary underlines the fact that the compensation structure of the managers need to be rightly linked to the performance measures designed by the company in order to achieve balanced productivity and a sustainable business which is in line with the...
6 Pages(1500 words)Essay
...? A Discussion on Johnson and Kaplan’s Relevance Lost This present paper is a research paper that looks at the criticisms, which were made by Johnson and Kaplan (1987) in regards to management accounting/ control systems. In particular, the criticism stated that the MA systems had lost their relevance since they were “too late, too aggregated, and too distorted to be relevant for managers’ planning and control decisions.” However, this study has substantially established that MA systems regained back their relevance largely because they have been re-developed to ensure that they give real time information that can be used for effective decision-making. This paper...
10 Pages(2500 words)Essay
Actual pricing practice: various management accounting techniques within organization
...Television 50 in. in the selected electronic companies such as: Panasonic, Samsung, Hitachi, and Toshiba. The number of merchants was also studied in this research. This is done to identify the various management accounting techniques within the organization pricing. DEFINITION OF TERMS ""Sellers" are not restricted to persons who are exclusively in the retail or distribution business. A manufacturer is also a seller when he is distributing his products. This study is concerned with the pricing of products; hence the general term "seller" is used to designate anyone who has to price his products at any level of distribution. " (Thin 1960,...
8 Pages(2000 words)Essay
Management Accounting
...the customer value chain delivery system is the system made up of a company and its suppliers, distributors, and ultimately its customers, who work together to deliver value to customers. (Law, 2006). Strategic management accounting can be enhanced through the use of new cost and management accounting tools such as Activity-Based Costing and Performance Measurement tools such as the Balanced Scorecard. Management accounting can only be useful in the modern manufacturing today if it encompasses the new management accounting techniques listed...
8 Pages(2000 words)Essay
Management Accounting organization’s relationship with its partners. Management should use their experience and expertise to foresee future management accounting trends and pass the knowledge to managers through the organization hierarchy. This will help achieve desirable quality output and reduce indirect costs associated with dealing with suppliers. Direct costs, indirect cost and management allocation of actual production costs is a continuing discipline in management accounting. Administrative coordination as argued by many theories is an essential pillar for development. Majority of theories after Chandlers’ work are based on understanding and...
6 Pages(1500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic How Can Management Accounting Techniques Assisst the Management of a Real Life Company for FREE!
logo footer
Contact us:
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us