The case study: Zanzibar is an ice cream company that sells artisanal gelato made with natural ingredients. It is a family business located in the centre of Somerset and it has experienced strong growth of around 15% in the last 5 years. Zanzibar expanded its product portfolio into lollies two years ago and it is struggling to understand why its profits are reducing as the lollies sell in high volumes and production is at full capacity for this product line. Zanzibar is really keen to have a Management Accountant who can explain the reason for the profitability decline and undertake further analysis to understand the current delivery of its strategy. Your role is as a Management Accountant and you are expected to provide a Report to the Senior management team about the issues you will find. PLEASE answer the exact questions below and relate it to the scenario above.
Explain and evaluate Management Accounting. To do so, you could state the meaning or purpose of Management Accounting and how Zanzibar would benefit from adopting Management Accounting Systems for its business activity.Explain and evaluate Management Accounting Reporting. To do so, you could select three specific management accounting reports and give reasons why they would be useful for Zanzibar to track their organisational processes and maintain a loyal customer base.Explain planning tools used in Management Accounting. To do so, you could contrast three planning tools used in management accounting, indicating how effective you consider each to be and gives reasons of why. Your analysis should be supported by evidence from the business world and contextualized to the Ice Cream Industry.Using two specific case studies as examples, compare ways in which management accounting is applied to prevent financial problems in organisations. Ensure you use one example from the service industry and one from the manufacturing industry.
The post Topic: Management accounting
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