Problem
Lesti a final year Bachelor in Accounting student at a local university, has some confusion regarding one of the topics she is studying. Confused and frustrated with the problems experienced, Lesti approached you with some questions related to the topic.
Task
i. What are the different between traditional management accounting tools and contemporary management accounting tools?
ii. Provide two examples of traditional management accounting tools and two examples of contemporary management accounting tools. You are required to provide elaboration for each tool.