Tutorial Solution Accounting Management

ACCG200- SEMESTER 1 2012 TUTORIAL 1 TOPIC 1 -Week 2 1.5 The authorised differences between management story and fiscal account statement argon listed below. a. centering accounting system information is provided to managers and employees inside the organisation, whereas fiscal accounting information is provided to interested parties outside the organisation. b. Management accounting reports ar unregulated, whereas financial accounting reports are legally call for and essential conform to Australian accounting standards and corporations law. c. The principal(a) cosmos of info for management accounting information is the organisations elementary accounting system, plus data from many otherwise sources. These sources allow yield data such(prenominal) as rates of insecure products manufactured, physical quantities of material and labour used in production, troops control rates in hotels and hospitals and average take-off delays in airlines. The primary source of data for financial accounting information is virtually merely the organisations basic accounting system, which accumulates financial information. d. Management accounting reports often focus on sub-units within the organisation, such as departments, divisions, geographical regions or product lines.

These reports are base on a combination of historical data, estimates and projections of rising costs. The data may be subjective and there is a stiff emphasis on reporting information that is applicable and timely. monetary accounting reports tend to focus on the go-ahead in its enti rety. These reports are based almost exclusi! vely on confirmable transaction data. The focus is often on dependability preferably than relevance and the reports are not timely. 2.10 Costs that are shoot to a plant but indirect to the products they make up embarrass the cost of secretarial staff at the plant, the salaries of the manager, bid and IT costs, the derogation of buildings, cleaning costs, car park and landscaping costs. Even...If you expect to pack a full essay, order it on our website: OrderCustomPaper.com

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