Have a conversation with an Owner-Manager of a business in Australia or a Manager in an organizationsuch as a Bank, Retail Store, Restaurant, Hotel, Factory etc. Ask the Owner-Manager or the Manager thefollowing questions:Does the business collect and use cost information for planning and control purposes? Howoften?ii)i)ii) Who is responsible for the collection of cost information? Be as specific as possible.ii) What type of cost information does the business collect? Provide examples incl. types ofreports.iv) How important does the Owner-Manager or the Manager believe cost information are toiv).the Business's success? Explain.IF

Answer: i) According to the Owner - Manger perspective the answer is yes. To collect and use the…

a conversation with an Owner-Manager of a business in Australia or a Ma as a Bank, Retail Store, Restaurant, Hotel, Factory etc. Ask the Owner-Man ving questions: Does the business collect and use cost information for planning ane often? ii) Who is responsible for the collection of cost information? Be as s ii) What type of cost information does the business collect? Provic reports. iv) How important does the Owner-Manager or the Manager believ the Business's success? Explain.

a conversation with an Owner-Manager of a business in Australia or a Ma as a Bank, Retail Store, Restaurant, Hotel, Factory etc. Ask the Owner-Man ving questions: Does the business collect and use cost information for planning ane often? ii) Who is responsible for the collection of cost information? Be as s ii) What type of cost information does the business collect? Provic reports. iv) How important does the Owner-Manager or the Manager believ the Business's success? Explain.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 1TP: In a team of two or three students, interview the manager/owner of a local business. In this...

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