Question 2

MA)

1

L company ask key differences between managed your employer O and D, a firm of Accountants based in S to prepare a series of briefing documents suitable for small and medium sized businesses. You have been asked by the managing partner to develop the first briefing note as outlined in the following requirement.

Requirement

Prepare a briefing note that

a) Presents the key differences between management accounting and financial accounting

b) Describes the role of the role of the management accountant

c) Outlines Four factors that influence a company's demand for a management accounting

2

You are employed by C company a firm of accountants based in , The firm has recently been engaged by a small manufacturing company to provide advice and recommendations to improve the company's costing system.. The managing director of the manufacturing company is particularly interested in implementing standard costing,

Requirement

Draft a memorandum for your client that

a) Outline s the purposes of standard costing

b) Describes how a standard costing system operates.