a) Outline the helpfulness of budgeting to a manager.
b) Describe how an understanding of behavioral aspects of budgeting is significant to managers.
a) Differentiate between management accounting and financial accounting.
b) Describe the characteristics of good quality information.
c) Describe operational, tactical and strategic planning.
a) Describe the given type of cost standards
• Basic cost standards
• Ideal standards
• Currently attainable standards
b) State the possible causes of the given types of variances:
c) Describe the benefits and drawbacks of comprising employees in the standard setting process.