Management Accounting Report: Prime Furniture Analysis and Comparison

This report provides a comprehensive overview of management accounting principles, focusing on their application to a case study of Prime Furniture. The report begins with an introduction to management accounting and its role in managerial decision-making. It then delves into cost analysis techniques, including direct and indirect costs, explicit and implicit costs, marginal costing, absorption costing, and various inventory costing methods. The report also examines different planning tools used in budgetary control, such as zero-based budgeting, operating budgets, cash budgets, and variance analysis. Furthermore, it explores pricing strategies and compares organizations using different management accounting systems, highlighting financial problems such as lack of liquidity and issues in managing accounting records. The report concludes with a summary of the key findings and a list of references.