Accounting (Managerial) 530 Portfolio Case Study - 978 Words

Accounting (Managerial) 530 Portfolio Case Study Imagine you are applying to become a trainee in a management consulting company, Solutions Inc., which claims to deliver innovative solutions. They are looking for innovative employees who engage with their work. The selection process will be rigorous. You know you will be asked to submit reports based on questions regarding your knowledge of management accounting practice and strategic management accounting. To provide a context for the reports, you have been provided with a scenario in the form a case study on which the questions are based. To answer the questions you are going to have to do some research in the library. Giving you the questions is a method to test your information†¦show more content†¦Prepare a submission for management on how this may be done, and the difficulties that they are likely to face in undertaking this sort of analysis. Issue 5: Previously the company did not use budgets because the owners were the managers of the business and close to activities being managed and did not feel the need for budgets. As the company has grown, and the operations have become more diverse, professional managers have been recruited. Include in your submission an argument for budgeting, indicating the benefits of budgeting, and the factors to take into consideration when faced with uncertainty regarding sales growth. Issue 6: The company has a need to make choices sometimes whether to make or buy certain of the products carrying their brand. On other occasions they are also required to make decisions on special prices when a potential retailer makes an offer to buy goods from them at a price lower than their normal price. The management currently make their decisions in these matters based on the average cost of goods sold in the previous accounting period. 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