‘Today's management accounting information, driven by the procedures and cycle of the organisation's financial reporting system, is too late, too aggregated, and too distorted to be relevant for managers’ planning and control decisions.’
H.T. Johnson and R.S. Kaplan (1987), Relevance Lost: The Rise and Fall of Management Accounting, p. 1.
After completing this chapter you should be able to:
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(i) assessment of the current position of the business,
(ii) appraisal of the current position of the business, and
(iii) strategic choice of future direction of the business.