Learning Outcomes:
1. Explain various management accounting techniques used by organizations for planning, recording and control purposes.
2. Demonstrate practical skills to create, organize and interpret data and information into meaningful accounting information reports.
A Budget is a quantified plan of action for a forthcoming accounting period. A budget is a plan of what the Organisation is aiming to achieve against what it had set as a target. In this assignment you are expected to write a reflective report incorporating the following:
1. An ideal introduction covering importance of budget.
2. Critical discussion on the benefits, drawbacks and process of budgeting.
3. You are required to prepare an incremental budget for the next two years of any listed manufacturing company in Oman based on the income statement which can be downloaded from Muscat Securities Market website (www.msm.gov.om), taking into consideration the impact of covid-19 on the company's profitability.
4. A detailed discussion on the budget prepared explaining the factors that you have considered with clear rationale for the variations.
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Attachment:- Management Accounting.rar