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Management accounting is the crucial aspects which is implemented under the business for attaining sustainable advantages over the other rivals. Now, each firm is trying to attain its sustainable development by using management accounting tools (Hutaibat, 2012). These are the benefits which can only be achieved after implementing these tools into the firm.

Case study 1

A). Based on static budget report:

1. Main causes of loss in net income

The main issue of loss in the net income is due to the inefficient use of resources. Due to inefficient use of resources, company did not control the variable costs in an efficient manner. Which was the main cause loss in net income. Although, fixed cost does not create any impact over this. But, to be frankly speaking, this affacts the contribution of the company.

2. Did administration do a better, average, or poor job of managing expenses?

I firmly believe that the administration did a poor job in managing variable costs. Because, the company is wasting their resources by way of inefficient use of resources effectively. Henceforth, administration was not able to limit the variable costs efficiently. Although, they controlled fixed costs efficiently.

3. Were management's decisions to stay competitive sound?

According to me, this has been seen that that the management's decisions to remain competitive probably were healthy. Because, salary and wages, they controlled effectively which makes the company to stay competitive.

b). Flexible budget:



Per unit budgeted costs














Delivery expenses



Total variable expenses










Less: Variable costs














Delivery expenses



0 F

Total variable expenses








Less: Fixed costs


















Repairs and maintenance




Salary and wages




Delivery expenses



Veterinary fee












Total fixed expenses




Net income





  • Based on the above flexible budget report, attempt three questions in part (a) above.
  1. What was the main cause(s) of loss in net income?

Ans. The main issues of limit the net incomes are due to the inefficient control over the variable expenses. This is the main issue by which the loss is occurred. Under this case, company were not able to manage its variable cost efficiently.

  1. Did administration do a better, average, or poor job of managing expenses?

Ans. Under this situation, the management of the company poorly manage their operations. That is why, management can't manage the variable costs effectively. However, they only use delivery expenses effectively (JOSHI, and et. Al., 2011).

3.Were management's decisions to stay competitive sound?

Ans: The management decisions were the competitive in nature and this reflects the great sound for the firm. Now, according to me, management makes certain changes in order to control their variable costs so that they could able to come in the competitive world.

Case study 2

Balance score card is the strategic planning and administration system which firm implement to: communicate what company is trying to attain, line up with regular works which everyone is trying with strategy, specialised projects, products and services. Under the given case study, BSC declares that company see the firm from four perspectives, and to grow objectives , assess, targets, and initiatives relative to following points of view:

Financial perspective: To become a leading retailer of luxury products in Australia and New Zealand. Company is having surplus amount of return that is why, it is providing greater return to shareholders and this will also helps the firm to regularly expand and emerge the firm. Under this report, this also been seen that the management is striving hard to make its surplus profits more.

Customer perspective: This perspective reflects firm's performance from customer perspective or other key stakeholders which firm is willing to serve in front of them. Under this case, LFR is ready to provide a best luxurious products to the customers. As this has a brand reputation for storing the best quality products.

Internal process: This perspective firm's performance from the quality point of view and superiority regarding to firm's products or services. Under this, LFR is providing best quality products, which is the company's foremost requirement that are required to be met by the management.

Organisational capacity: This is the learning and growth perspective which views firm performance via human resources, infrastructure, technology, culture and different capabilities. The LFR sales department emerged a strong relationship with their customers which they are going to serve a strong relationship with the them.

B). Emerge in the form of a KPI for each objective identified.

Financial perspective


a) Objective




LFR have lucrative benefits, that is why, this is rendering much attention on return to shareholders and such would likewise assist the firm to on a regular basis expand and emerge it.

To be a emerging firm of luxurious products in Australia and New Zealand, LFR needs to run their operations effectively so that they could attain maximum advantages.

The financial performance of the company can be analysed by way of gross profit margin, net profits margin, its efficiencies etc.

The financial performance could be analysed after having extensive research of its financial statements.

Customer perspective


 LFR is willing to render best luxurious products for the potential customers. As, this has a brand reputation for storing the best quality products.

To attain most of the customers, company needs to attempt a great services and qualities to them (Zadeh, 2011). 

The company's performance can be measured by applying customer lifetime value(CLV), Customer Acquisition cost, customer satisfaction and retention, net promoter score.

The customer performance can be achieved in order to attain their business objectives.

Process perspective


LFR is supplying high-grade quality products, that are the firm's major responsibility that are met by the company.

The process of the company needs to be effectively run their operational process in order to attain the firm objectives. The company also makes some changes as per the firm.

The process can be measured by way employer turnover rate, percentage of consequence to open positions, employee satisfaction (Quagli, 20112).

The company's process performance is investigated extensively by using KPI tools.

Organisational capacity


Company's sales divisions develop sound connection with their tailored customer that they serves a powerful kinship with them.

The company needs to organise firms capacity in an effective manner so that its overall performance could be achieved.

The firm performance can be measured under this, and this could able to make their business operations effectively.

Firm also needs to know about their business performance by applying firm capacity effectively.

2. Apply balance scorecard

a). Internal perspective measures the firm performance and analysing that firm performance is great at firm level but this becomes inefficient in store level. Because, firm offer luxurious products and for that it needs great offer to the firm (Zaleha Abdul Rasid and et. Al., 2011).

b). LFR employees provides great services to their customers and trained them by providing training.

c). These are connected to the previous KPI and try to overcome the issues that would help out to make the company in order to sustain operational functions.


From the above mentioned report, this has been analysed that the Monatana farm provides budget by which actual outcomes were analysed, and variances are overcome. In another case study, BSC approach is used in order to attain their business operations effectively.


Books and journals:

Hutaibat, K.A., 2012. Interest in the management accounting profession: accounting students' perceptions in Jordanian universities. Asian Social Science. 8(3). p.303.

JOSHI, P.L. And et. Al., 2011. Diffusion of management accounting practices in Gulf Cooperation Council Countries. Accounting Perspectives. 10(1). pp.23-53.

Quagli, A., 2011. Goodwill accounting as a missing link between financial and management accounting: literature review and research agenda. Financial reporting.

Zadeh, 2011. Accounting for decision making and control. Issues in Accounting Education. 26(1). pp.258-259.

Zaleha Abdul Rasid, S and et. Al., 2011. Management accounting and risk management in Malaysian financial institutions: An exploratory study. Managerial Auditing Journal. 26(7). pp.566-585.


Management Accounting 2017 [Online]. Available Through: <>. [Accessed on 25th September 2017]

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