ACCOUNTING II BY MADAM JOYCE by H'NG MOOI KHIM KMNS https://padlet.com/hng4/23evdm3fdkpco1lh ABOUT MANAGEMENT ACCOUNTING en-us 2021-01-18 02:04:02 UTC 2025-12-21 17:29:53 UTC hello@padlet.com https://padlet.net/icons/png/2764.png ENRICHMENT EXERCISE ( 18/01/2021) hng4 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096479931 TOPIC 1: INTRODUCTION TO MANAGERIAL ACCOUNTING
 
Question 1
State and explain (3) characteristics that need in good management accounting information.
 
Question 2
List the differences between financial accounting and management accounting.
 
Question 3
State and explain two roles of accounting information in management. 
 
Question 4
List the similarity of characteristics between financial accounting and management accounting.
 
 
 
 
 

 
 
 
 
 
 
]]> 2021-01-18 02:08:22 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096479931 Nityaasri A/P K Kumara Velu https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096619761 ( A2P1) 

1. Characteristics of good management are :
     a. Accuracy - Must coincide with the needs of management functions.
     b. Timelines - information obtained at the time information is required, if delayed action can be not done. 
     c.  Flexibility - information is easily adaptable to the needs of decision to be made. 

2. Difference between FA and MA :
    FA - Internal and external users 
    MA - internal users
   
    FA - consist of financial statements 
    MA - comprising of internal reports 

3.  Roles of accounting information :
     a.  Planning  - Process of setting goals/ objectives to achieve. selection of strategies implemented to achieve objectives.
    b.  Controlling - Process to ensure that the strategy is on the right track. Goal is achieved based on performance evaluations. Corrective actions made if necessary. 

4. Similarity of characteristics between FA and MA :
    a.  Financially focused
    b.  Produce financial reports 
    c.  Require deep understanding of accounting ]]> 2021-01-18 04:22:34 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096619761 NG ZI YI (A2P1) https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096626612

]]> 2021-01-18 04:27:30 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096626612 Aisyah alyaa https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096649953 Question 1
1)Accuracy- must coincide with the needs of management functions.
2)Timeliness- information obtained at the time the information is required, if delayed action can not be done.
3)Relevance- Accounting information must be capable of making a difference in a decision making.
Question 2
1) FA -internal and external ,MA- internal
2)FA- focus on past, MA -focus on future
3) FA - report consists of FS, MA -report comprising of internal report s.
Question 3
1) decision making- for internal users
2) Planning-setting goals

]]> 2021-01-18 04:43:34 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096649953 Fatini Binti Kaha (A2P1) https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096650681 Question 1
a) Accuracy - must coincide with the needs of management functions
b) Timeless - information obtained at the time information is required , if delayed action can not be done.
c) Understandability - using terms that are easily understood to ensure that the information obtained can be used to make decisions.

Question 2
a)type of users
  MA - internal 
  FA- internal and external
b) timing of reports
  MA- focus on the future
  FA- focus on past / summarized past activities
c) type of reports
  MA - comprising of internal reports
  FA - consists of financial statement

Question 3
a) Planning - the process of setting objectives / goals to achieved
b) Controlling - process to ensure that the strategy is on the right track
 
Question 4 
a) Financially focused 
b)produce financial reports
c) require deep understanding of accounting

]]> 2021-01-18 04:44:03 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096650681 HAZEEM IZZUDDIN BIN MAHADIR A2P1 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096666838
Question 1
1) Accuracy - Coincide the needs of the management
2) Timelinss - Obtained at the time the information is required
3) Relevance - Must be capable of makin a difference

Question 2
Types of users
MA - Internal
FA - Internal and external

Timing of reports
MA - Future
FA - Past

Question 3
Planning - Setting objectives
Controlling - Ensure the strategy on the right track
Devision making 

Question 4
MA and FA produce financial reports, are centered on finances, intended for a specific audience, and require a vast knowledge of accounting practices]]> 2021-01-18 04:55:07 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096666838 NURSHAZANA BINTI MALEK (A2P1) https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096667097 QUESTION 1
-  Accuracy : Must coincide with the needs of management functions.
-  Understandibility: Using terms that are easily understood to ensure that the    
                                    information obtained can be used to make decisions.
-  Timeliness: Information obtained at the time the information is required, if 
                         delayed action can not be done
- Cost Efectiveness: Benefits of information must outweigh the cost of providing 
                                     it.
QUESTION 2
*Focus of report*
- FA: Company's overall achievement
- MA: Achievements of certain division of the company
*Frequency of report*
- FA: Provided periodically.
- MA: Provided according to management's.

QUESTION 3
*Controlling*
To ensure the strategy is on the right track.
*Decision Making*
Choose the best alternative after an analysis of the costs and revenues has been made.

QUESTION 4
- Both try to quantify the results of business activity and transactions.
-  Both deal with economic and business events.
- Decision made based on choosing the one that contribute increase in profit and 
low in costing.




]]> 2021-01-18 04:55:18 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096667097 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096668515 2021-01-18 04:56:24 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096668515 Nursyamimi Zulaikha binti Mohamad Redzuan https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096668850 (A2P1)
1) i)Accuracy-Must coincide with the needs of management functions.
    ii)Timeliness-Information obtained at the time the information is required,if
       delayed action cannot be done.
    iii)Relevance-Accounting information must be capable of making a difference in
        a decision making.

2) i)Type of users
       FA- Internal and external
       MA- Internal
    ii)Timing of report
        FA- Focus on past
        MA-Focus on future
    iii)Purpose of report
        FA-Reporting profit or loss
        MA-Assisting in decision making

3)i) Provide information and accounting reports.
   ii) Assist department in achieving the organization's objectives.

4)i)Financially focused
   ii)Produced Financial report
iii)Required deep understanding in accounting

]]> 2021-01-18 04:56:38 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096668850 Aina Nazira Binti Mohammad Azlan (A2P1) https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096673332 Question 1
i. Accuracy - Must coincide with the needs of management functions.
ii. Timelines - Information obtained at the time information is required, if delayed   action can be not done.
iii. Flexibility - Information is easily adaptable to the needs of decision to be made.

Question 2
FA - Internal and external user.
MA - Internal users

FA - Consist of financial statements.
MA - Comprising of internal reports.

Question 3
i - Planning - Process of setting goals/objectives to achieve selection of strategies implemented to achieve objectives.
ii - Controlling - Process to ensure that the strategy is on the right track. Goal is achieved based on performance evaluations. Corrective actions made if necessary.

Question 4 
i - Financially focused
ii - Produce financial reports
iii - Require deep understanding of accounting

]]> 2021-01-18 04:59:46 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096673332 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096682919 2021-01-18 05:06:37 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096682919 Nur Afifah Aqilah binti Rosli (A2P1) afifahaqilah2411 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096689207 Question 1:
3 characteristics of managerial accounting:
i) Accuracy-Must coincide with the needs of management functions
ii) Timelines-Informations obtained at the time the information is required,if delayed action can not be done
iii) Understandability-Using terms that are easily understood to unsure that the information obtained can be used to make decisions.

Question 2:
Differences between financial accounting and management accounting:
i) FA-Internal and external
   MA-Internal
ii)FA-Focus on past
   MA-Focus on the future
iii)FA-Report profit or loss and financial position
    MA-Assisting in decision making

Question 3:
Two roles and management functions
i) Planning-The process of setting objectives/goals to achieve
ii) Controlling-Process to ensure that the strategy is on the right track

Question 4:
Similarity of characteristics between financial accounting and management accounting
1. Both are the parts of total accounting information system.
2. Economic events are dealt in the both system of accounts.
3. The economic events are qualified only in terms of rupees.
4. Both are concerned with financial statement, revenues, expenses, assets, liabilities and cash flows.

]]> 2021-01-18 05:10:37 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096689207 AISHAH SYAZANA BINTI ABU BAKAR (A2P1) https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096694682 Question 1
- Accuracy : Must coincide with the needs of management functions.
- Understandibility: Accounting information must be capable of making a difference in a decision making.
-Timeliness: Information obtained at the time the information is required, if  delayed action can not be done
-Cost Efectiveness: Benefits of information must outweigh the cost of providing it.

Question 2
a)Focus of report
- FA: Company's overall achievement
- MA: Achievements of certain division of the company
b)Frequency of report
- FA: Provided periodically.
- MA: Provided according to management's.

Question 3
a) Decision Making
    Choose the best alternative after an analysis of the costs and revenues has    
    been made.
b)Controlling
   To ensure the strategy is on the right track.

Question 4
- Both are part of total accounting information system and the same accounting 
  information system which is used in financial accounting can be used in 
management accounting to prepare some reports
-  Both deal with economic and business events.

]]> 2021-01-18 05:13:57 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096694682 NUR FATIN NABILAH BINTI AZAINI IMRAN (A2P1) https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096704281
1. 3 characteristic that need in managerial accounting
i)relevance - using terms that are easily understood to ensure that the information obtained can be used to make decisions.
 ii)cost effectiveness - benefits of information ust outweigh the cost of providing it.
iii) accuracy - must coincide with the need of management function.
2.differences between MA &FA
i)type of users
MA: internal 
FA :Internal and external
ii)Timing of report
MA: focus on the future
FA : focus on past/ summarize past activities
iii)Purpose of report
MA :assisting in decision making
FA : reporting of financial statement
3. 2 roles of accounting
i) planning - the process of setting objective /goals to achieve
ii) controlling - process to ensure that the strategy is on the right track.
4. Similarity of characteristics between MA and FA
i) financial focus
ii)  produce financial report ]]> 2021-01-18 05:20:15 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096704281 MUHAMMAD AQIL BIN NORMAN A2P1 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096711115 Question 1
- Accuracy : Must coincide with the needs of management functions.
- Understandibility: Accounting information must be capable of making a difference in a decision making.
-Timeliness: Information obtained at the time the information is required, if  delayed action can not be done
-Cost Efectiveness: Benefits of information must outweigh the cost of providing it.

Question 2
a)Focus of report
- FA: Company's overall achievement
- MA: Achievements of certain division of the company
b)Frequency of report
- FA: Provided periodically.
- MA: Provided according to management's.

Question 3
a) Decision Making
    Choose the best alternative after an analysis of the costs and revenues has    
    been made.
b)Controlling
   To ensure the strategy is on the right track.

Question 4
- Both are part of total accounting information system and the same accounting 
  information system which is used in financial accounting can be used in 
  management accounting to prepare some reports
-  Both deal with economic and business events.]]> 2021-01-18 05:24:43 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096711115 INTAN SABRINA A2P1 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096865354 Question 1
3 characteristics that need in good management accounting information are :
1. Flexibilty - Information is easily adaptable to the needs of decisions to be made
2. Cost effectiveness - Benefits of information must outweigh the cost of providing it
3. Accuracy - Must coincide with the needs of management functions
Question 2
Differences between financial accounting(FA) and managerial accounting (MA) :
1. FA internal and external users, MA internal user
2. FA focus on the past / summarised past activities, MA assisting in decision making
3. FA provided report periodically, MA provided report according to management's
Question 3
2 roles of accounting information in management are :
1. Planning - process of setting objectives / goals to acheived. Selection of strategies that will be implemented to acheive objectives
2. controlling - process to ensure that the strategy is on the right track. The goal is acheived or not is based on performance evaluation. Correction action is made if necessary.
Question 4
Similarity between FA and MA :
1. Financially focused
2. Produce financial reports
3. Require deep understanding of accounting]]> 2021-01-18 06:49:20 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096865354 MUHAMMAD FATHI BIN SHA'ARI A2P1 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096896801 Question 1
3 characteristics that need in good management accounting information are:
1. Accuracy - Must coincide with the needs of management functions.
2. Cost Effectiveness - Benefits of information must outweigh the cost of providing it.
3. Flexibility - Information is easily adaptable to the needs of decisions to be made.

Question 2
The differences between financial accounting (FA) and management accounting (MA) are:
1. Type of users
FA: Internal and external.
MA: Internal.

2. Timing of report
FA: Focus on past.
MA: Focus on the future.

Question 3
Two roles of accounting information in management are:
1. Planning - The process of setting objectives.
2. Controlling - Process to ensure that the strategy is on the right track.

Question 4
The similarity of characteristics between financial accounting (FA) and management accounting (MA) are:
1. Financial focus.
2. Produce financial reports.]]> 2021-01-18 07:02:20 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1096896801 https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1097300816 2021-01-18 09:12:54 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1097300816 MUHAMMAD EMIR SHA BIN MOHAMED https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1143583964 QUESTION 1:
The characteristics that need in good management accounting information are,
1) Accuracy:
     Must coincide with the need of management functions
2) Timeliness:
     Information obtained at the time the information is required, if delayed action         can not be done.
3) Flexibility:
     Information is easily adaptable to the needs of decisions to be made.

QUESTION 2:
The differences between financial accounting(FA) and management accounting(MA) are:
1) Type of users:
    FA: Internal and external
    MA: Internal
2) Timing of report:
     FA: Focus on the past
     MA: Focus on the future

QUESTION 3:
Two roles of accounting information in management are:
1) Planning:
     The process of setting objectives / goals to achieved
2) Controlling:
     Process to ensure that the strategy is on the right track

QUESTION 4:
The similarity of characteristics between financial accounting and management accounting are:
1) Financially focused
2)  Produce financial reports 
3) Require deep understanding of accounting 
     


]]> 2021-01-30 14:24:21 UTC https://padlet.com/hng4/23evdm3fdkpco1lh/wish/1143583964