Business > STUDY GUIDE > University of Sunderland BUSINESS 123 MA_A1_NguyenThiHoaiThuong-UPATED BY EXPERTS 2021 (All)

University of Sunderland BUSINESS 123 MA_A1_NguyenThiHoaiThuong-UPATED BY EXPERTS 2021

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INTRODUCTION Reliance Communications is a telecommunications operator in India and, through its international subsidiary Global Cloud Xchange, is one of the leading global data communications servi... ce providers. Moreover, Reliance Communications is also one of the largest IDC service providers with data centers in four cities, having a total capacity of over 1.1 million square feet. A new data center is also under construction. To help the readers know more about RCL Group, the author will give more detail about the management accounting systems of RCL in task 1 as well as introduce the range of management accounting techniques is task 2 and 3. Besides, the author also gives the examples in each task and explain clearly to make sure the readers can understand easily. 3LO1: Demonstrate an understanding of management accounting systems Task 1: Explain management accounting and give the essential requirements of different types of management accounting systems. 1. What is management accounting? “Managerial accounting is the practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization's goals. It varies from financial accounting because the intended purpose of managerial accounting is to assist users internal to the company in making well-informed business decisions.” (Anon, 2019) Example: In the RCL group, management accounting included many aspects of accounting. They recorded all the information about the firm and analyze, communicated to help the internal users in decision making with the aim to develop company. 2. Types of users and their decision making 2.1 Types of users To run as well as operate and develop the company, there must be people who research, analyze, evaluate and make decisions about the company's activities. However, the company is not only influenced by internal factors, but also external factors. In the RCL company, there were primarily two types of decision-makers, Internal users and External users. The Internal users are people related to the day-to-day activities of the company, they contact and work at the company every day, and that is their main work. Some Internal users like owners, employees, managers, etc. In contrast, External users include suppliers, banks, shareholders, customers, or the government, etc. They are not involved in day-to-day activities in the company, but they have certain influences on the company's development and survival because they are important partners and can create opportunities for the development of the company as well as management of the general situation of the company. (Dhull S.,2019). 4 [Show More]

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