Your friend has just started a retail clothing store in kamloops. She will be purchasing inventory to make her own clothing (One Style) and she will also be buying ready to sell iteams. She has come to you to help her set up an internal financial reporting system.
What Managerial accounting techniques would you suggest to your friend to better control her costs and why?

Required

1. Identify what managerial accounting document / procedure / technique / policy you would use in the business, and
2. How this document / procedure / technique / policy will help manage your business.
3. I am looking for 5 strong points.