In the context of the global economy increasingly competitive, the application of management accounting in business not only beneficial in maintaining the existence of the business but also bring the maximum profit. To understand this concept in more depth, let's Accnet follow the article below!
1. Management accounting what is?
The Lac Viet learn general knowledge about accounting business operating:
1.1. The concept of management accounting
Management accounting (hay còn gọi: kế toán điều hành), là quá trình thu thập, xử lý, phân tích, cung cấp thông tin tài chính, thông tin quản lý phù hợp với yêu cầu của nhà quản lý, các quyết định tài chính đối với đơn vị kế toán (Theo Điều 3 quy định Luật Kế toán Việt Nam số 88/2015/QH13)
1.2. The important role of management accounting in business today
- Strategic decisions: Given the strategic decisions, including investment, expand, or develop a new service, through the revenue forecasting, business situation
- Cost management: Analysis of production costs in order to maximize performance and profit. Identify the necessary resources, reduce waste, improve efficiency general of the business.
- Risk management: Risk assessment, financial business, to propose measures to control, reduce risks and increase benefits. Research the risk factors that help the organization respond timely to changes of the environment.
- Process of business activities:Optimization of this process by improving the process of resource management, cash flow
- Reports and communications: Create and disseminate financial information for investors, regulators, the parties Tuesday to another. Report accurate financial, public, help enhance the reputation of the company, retain, partners, investors.
Read more:
- Accounting software management giúp kiểm soát chi phí và lợi nhuận tối ưu
- Công thức kế toán quản trị giúp phân tích chi phí và tối ưu lợi nhuận
- Kế toán quản trị và kế toán tài chính khác nhau ở điểm nào?
1.3. The basic task of accounting operating business
- Management accounting collect information and data, including the planning, future goals, internal information, external information, short term, strategy aligned with your business goals.
- Investigation, analysis, accounting information according to the method of general accounting, technical methods for each object accounting.
- Accounting for revenue, cost control, financial advice for business as required.
2. The main components of management accounting
Accounting executive consists of 3 basic components follows:
| Cost | Draft budget | Volatility analysis cost |
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Method of comparing the actual costs with the estimates, determine the cause of fluctuations, the proposed solutions. |
3. Analytical tools in management accounting
3.1. Analysis of the breakeven point
Analysis of the breakeven point is the technique of identifying the level of revenue needed to offset the entire cost, not make a profit or loss. The breakeven point is the level of output/sales at which revenue equals expenses.
- Determine the level of risk, the minimum turnover to be achieved to avoid holes.
- Determine the target revenue, production planning, marketing.
- Determine the reasonable selling price to achieve a desired profit.
Formula for calculating the breakeven point:
| The breakeven point (sales) = (fixed Costs)/(Rate of interest on revenue) |
3.2. Analysis, cost - profit - volume (CVP Analysis)
Cost-Volume-Profit Analysis, CVP is technical analysis the relationship between costs, revenue and profit in a certain output. CVP helps determine the influence of fixed costs, variable costs, selling price in management accounting of the business.
- Profit forecast based on the output level, selling price.
- Determine the output level to be achieved to maximize profit.
- Understand the impact of the change in the cost of the sale price.
Basic recipe:
| Profit = (selling Price unit variable Costs unit) x output - fixed Costs |
3.3. Measurement system performance
Key Performance Indicator is the index measure the performance of the business help evaluate the effectiveness of activities, management of resources.
- Evaluate the performance of the department/individual.
- Set goals specific, measurable progress achieved.
- Detect areas in need of improvement, take measures to adjust timely.
The key performance indicators:
- Revenue: Total revenue from business activities.
- Profit: net profit after subtracting all costs.
- The rate of profit: the Ratio between profit and revenue.
- Effective use of assets: a Measure of the level of efficiency in using assets to generate revenue.
- Effective cost management: evaluate the level of efficiency in controlling costs.
4. Comparison of management accounting with financial accounting
Below is a table comparing the 2 types of accounting today:
| Criteria | Management accounting | Financial accounting |
| Purpose | Take strategic decisions, planning, operations management, internal. | Providing financial information to external parties such as investors, banks, regulators. |
| Main subjects | Management division, operating in the company. | Business, investors, regulators, banks. |
| Object usage information | Managers, administrative staff in the organization want to make decisions, regulate their activities. | External participants, such as investors, banks, regulators need to assess the financial capabilities of the company. |
| Time range | Management accounting report short-term and medium-term. | Report long-term and long-term strategy. |
| Information provided | Cost, performance, cash flow, data management as profit unit profit on capital, point efficiency. | Summary financial information of a company, including profit and loss statement, balance sheet, cash flow. |
| Level of detail | Specific information, detailed, comprehensive analysis of the business endeavor. | Financial statements general, without going into the effort specific business. |
| Process calculations | Calculation for pricing products, projects and business endeavors. | Use the principles and standards of international accounting to calculate. |
5. Practical application in the field
Below are some examples apply management accounting in the industry, different fields:
| Sector and | Practical application |
| Industrial production | Support managers up production costs, manage resources, predict the raw materials, labor necessary. Create favorable conditions for determining the price of products, the performance of the production line, optimizing the production process. |
| Service | Analysis of operational costs as well as revenues and profits of specific services by the management decision. Up pricing strategies, marketing for products and services. |
| Retail | Management accounting managing the cost of goods and inventory management in the operation of the store, the point of sale. |
| Finance - Banking | Manage operational costs, risks, profit as well as the financial performance of accounts, accounting, loans, investment. |
| Medical | Given the cost of the treatment, management personnel, medical supplies, performance of services, health care specific. |
| Information technology | Cost management, software development, human resource management for the project in information technology. |
6. Accounting software operating business best market
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| Khám phá thêm các bài viết liên quan đến chủ đề này: |
Through articles, management accounting không chỉ giúp hiểu rõ tình hình thực tế hoạt động kinh doanh mà còn góp phần hoạch định chiến lược cho doanh nghiệp. Trong thời đại kỹ thuật số, mọi quyết định đều có thể tác động đáng kể đến vị thế cạnh tranh, sự thành công của doanh nghiệp. Vì vậy doanh nghiệp nên sử dụng thêm phần mềm kế toán điện tử Accnet Cloud từ Lạc Việt để đạt được những mục tiêu đề ra nhanh chóng!
The reference credits: Sách chuyên ngành kế toán quản trị; Nghiên cứu/bài báo khoa học liên quan; Tài liệu từ các tổ chức hiệp hội kế toánCONTACT INFORMATION:
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