Discuss the importance of management accounting for a

Question

Assignment Task:

You have been appointed as a management accountant in a growing business. The board members need to be briefed about the importance of investing in management accounting systems for the future growth of the business.

You are required to:

1. Discuss the importance of management accounting for a healthy business and differentiate between management accounting and financial accounting. (250 Words)

2. Evaluate different classifications of costs (types, behaviour, function and relevance) with examples. (600 words)

3. Analyse the importance of differentiating fixed and variable cost in determining the breakeven point of a business and for planning different levels of business activities. (550 words)

4. Evaluate the importance of operational budgets for the success of the business. (600words)

Answer 1

You have to complete this assignment within given times as well as cram of accountant in a producing business You have been hired as a management accountant in a producing business. The board members need to be shorted about the significance of investing in management accounting systems for the future increase of the business. You are needed to: 1. Converse the significance of management accounting for a healthy business and differentiate between management accounting and financial accounting. 2. Calculate dissimilar classifications of costs (kinds, behavior, function and relevance) by instances.