What is Management Accounting?

Management accounting is all about doing what's right for the organisation so that you can achieve your financial goals. 

To be able to achieve your financial goals it's important to make sure the employees are aware of how they can cooperate so both their goals and the organisations are going in the same direction. To be able to achieve this they can use different solutions that involves, measurements, controls, surveys with earnings and costs, planning, calculations, budgeting and so on.

To make the management accounting more efficient many companies and organisations use a system for planning and decision making

Management Accounting Business

As earlier mentioned, it's important to use efficient routines tomake sure the organisation’s financial goals are going in the right direction. Within management accounting another important factor is financial information which can be useful in decision making. So called financial ratio.

By using and comparing different financial ratio you get a good overview within the business. Financial ratio can be divided in:

  • Profitability 

  • Activity

  • Financial measures 

Within management accounting it’s expected to monitor, analyze and evaluate the business budget. This phase is very important because it verifies if the implemented strategies are working and are being used.  

Except for this, management accounting includes, figures and calculation. The primary use of calculations is to monitor financial income and expenses, which is important for decision makers within the organisation. The calculations can be used for pricing, purchases of products or monitoring customers and their behaviors online.  

External Help with Management Accounting 

As you might notice, management accounting includes a bunch of different parameters that sometimes can be hard to understand. Many organisations receive help from different kinds of decision-making system and consultants within business intelligence to gain a good profitability and efficiency. 

With Mercur being active for over 40 years we have had the opportunity to help over a hundred different organisations with management accounting just by using our system Mercur Business Control. Our efficient system for making decisions are being used by a lot of different companies and industries in the UK, Europe and the rest of the world. Something we are really proud of. 98% of our customers also admit making better decisions after having implemented Mercur Business control. 

Contact us for more information!

Don't hesitate to contact us if you interested in booking a free web-demo to learn more about how Mercur Business Control can help your organisation.

You may also be interested in

Mercur Solutions (UK) Limited - UK office

Mercur Solutions Limited
Ocean House, The Ring, Bracknell RG12 1AX, United Kingdom
+44 (0) 1344 388 025

Mercur Solutions AB - head office in Sweden

Mercur Solutions AB
Vretenvägen 13, SE-171 54 Solna
+46 (0)-459 69 00

 

Malmo Office

Stortorget 3, SE-211 22 Malmö
 

Gothenburg

Kyrkogatan 24, SE-411 15 Göteborg

Mercur Solutions

A Swedish company with over 40 years of experience, delivering solutions for performance management and business intelligence.

  

Read Mercur Business Control Reviews on GetApp.com