The Purpose and Use of Management Accounting Systems Finance Paper (Research Paper Sample)

The Purpose and Use of Management Accounting Systems
By
Name of the Class
Professor’s Name
University
City and State
September 2019
Abstract
Management Accounting Systems (MAS) comprise of firms’ internal systems that are employed to evaluate and measure their accounting operations. Generally, companies employ accounting methods such as TQM, JIT, and ABC to monitor their financial transactions such as expenses, income and sales, accounts payable and funding. Further, MAS provide an opportunity for companies to generate various organization statistics that provide interested parties or management with a wide variety of information to assist in processes of decision making in an organization. Presently, both Company-A and Apple Inc. have integrated management accounting systems to foresee their accounting operations. The firms use computer-based or automated systems that use cloud-based or specialized services. This report; therefore, highlights the outcomes of two research articles covering application of MAS in manufacturing companies considering three key management accounting methods: TQM, JIT, and ABC.
Table of Contents TOC \o "1-3" \h \z \u 1. Introduction PAGEREF _Toc19774340 \h 42. Identification of any three specific examples of the different types of management accounting methods and/or techniques from the case PAGEREF _Toc19774341 \h 42.1 Total Quality management (TQM) PAGEREF _Toc19774342 \h 42.2 Just-in-Time (J.I.T) PAGEREF _Toc19774343 \h 52.3 Activity Based Costing PAGEREF _Toc19774344 \h 53. MAS are relevant to contemporary organizations citing evidence from the case company PAGEREF _Toc19774345 \h 63.1 Comparison of this finding with one other journal article about management accounting systems in another real-life company or companies. PAGEREF _Toc19774346 \h 74. Conclusions about the relevance of MAS in today’s competitive and (in most cases), uncertain business environment PAGEREF _Toc19774347 \h 85. Specific outcomes or lessons learned from each of the two articles’ research findings that will be useful for management accountants in Australian companies to learn from PAGEREF _Toc19774348 \h 8References PAGEREF _Toc19774349 \h 10
1. Introduction
The terms information and information system are viewed to have increasing effects on the enterprises, occupying model fields and management analysis. Economic information contains news from different fields and information as found in any other system. In most cases, this information is derived from the economic database. Resources are relatively scarce and limited and so management in most cases finds itself confronted with the decision-making problem. In this regard, good accounting information should be accessible to offer suitable and precise decision-making that could lead to maximization of profitability of an organization and utilization of scarce resource optimally. Accounting is normally viewed as the language used in all businesses. In simple terms, it is a tool used by business enterprises to record, report, evaluating economic events & transactions that normally affect its operations (CONG, 2017). Accounting takes the role of processing all financial performance documents from payroll, cost, capital expenditure and all other obligations of owner’s equity and sales revenue. Information is provided from accounting about how a business relates to the internal and external users, including, investors, managers, and others. One of the most important features that saturate organizations is management decision and it shows its failure or progress in achieving already set goals and objectives.