Reference no: EM132920108

Part 1: Have a conversation with a Manager of a gas station. Ask the Manager the following questions:

i) Does the business collect and use cost information for planning and control purposes?How often?

ii) Who is responsible for the collection of cost information? Be as specific as possible.

iii) What type of cost information does the business collect?Provide examples incl. types of reports.

iv) How important does the Manager believe cost information are to the Business's success?Explain.

Part 2 :

Choose onepeer-reviewed journal article (from any country) on the:Use of Cost Informationin a real-life organisation(i.e. a case-based empirical study). The article should be published between 1990-2020.Choose your article only after you have accessed and reviewed several relevant articles, and then choose the best article that will answer the questionsbelow.

Questions:

1.Based on your chosen journal article, briefly summarise thetypes of cost information and the use of cost information for planning and control purposes.

2. Based on your chosen journal article, did the Manager in the studyuse similar cost informationasdiscussed in Part A? Why or why not?Include examples in your answerfromyourjournalarticle.

3. Based on your chosen journal article, how useful was the accountinginformation to the internal users(Manager)in the organisation?Discuss with examples from yourjournal article.

4. Based on your literaturefindings and interviewfindings(from Part A), state twokey lessons that would informcontemporary organisations about the practical use of cost information.