1.1 There are many possible answers to the question.
Qantas, the national airline of Australia, has faced a number of changes to the business
environment over the last 20 years, including deregulation of the domestic aviati
1.8 There are arguments that when a management accountant's office is located on
the factory floor, they are regarded as 'spies' who report back to head office.
However the counter-argument is that the management accountant needs to
be near the action to
Major processes that management accounting systems use to create value
and manage resources include:
product costing systems that estimate the cost of resources consumed in
producing goods and services
processes that compile information that is requi
The explosion in e-commerce will affect management accounting in significant ways.
One effect will be a drastic reduction in paperwork. Millions of transactions
between businesses will be conducted electronically with no hard-copy
documentation. Along wit
1.5 The important differences between management accounting and financial
accounting are listed below.
(a) Management accounting information is provided to managers and
information is provide
1.7 The 'Real life' report of changes in the airline industry on page 6 illustrates the
increasing competition in the industry and the pressure to reduce fares. This
pressure makes the need to have a clear idea of the business's costs imperative.