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a) Management accounting system
This refers to an information system that enables the planning, organizing, and monitoring and
control of decisions of the accounting function of an organization to be executed.
Types of decisions that can be supported by a management accounting information system and
the type of accounting information required to support each decision .
1. Controlling organizational expenditure
Budgeted amounts for an elapsed period and the actual amounts spent during the elapsed
period are required to support this type of decision.
2. Investing excess funds
Information on returns on various investment options, which is produced by simulation of
many business scenarios, is required to support this type of decision.
3. Borrowing funds in order to meet an organization's cash needs in periods
of insufficient cash flow.
Credit status forecasts produced from simulating the current and future business conditions
can support this decision.
4. Acquiring new assets (e.g. IT resources, buildings, etc)
Net present values, internal rate of returns and payback periods are required to support this
decision.
5. Disposal of plant assets during a fiscal year
The Net Present Values of the assets at the end of the fiscal year in question could be used to
support this type of decision.
gregorymasila answered the question on November 23, 2017 at 12:23
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