Management Accounting Report: Amana Ltd Performance Analysis 2020

This report provides a comprehensive analysis of Amana Ltd's management accounting practices, focusing on its performance during 2020. It examines the company's budget, actual expenditures, and variances, highlighting areas of improvement. The report delves into the impact of the COVID-19 pandemic on the tourism-related business and assesses the company's financial outcomes. Furthermore, the report analyzes Mr. Amana's decision to transition the business online, including the establishment of an online presence and selling products on Amazon, offering insights into cost savings, employee requirements, improved sales, and customer interface. Recommendations are provided for various areas, including cost management, fixed rates, and cash flow, to enhance Amana Ltd's operational effectiveness. The report also provides recommendations for online business and Amazon sales. The report concludes with a review of the company's performance, challenges, and future prospects.