[SOLUTION] Managerial Accounting Techniques

CompetenciesIn this project, you will demonstrate your mastery of the following competencies:Describe how managerial accounting supports management information systemsUtilize managerial accounting techniques and models to support an organization’s strategic planExplain how managerial accounting is used to make decisions about short-term business opportunities, capital investments, and evaluating operational performanceScenarioYour business has been open for a month, and you have prepared an income statement and completed a variance analysis on the data. Now you will meet with investors and a few other internal stakeholders to share your company’s progress over the past month and how it has performed with respect to your cost and budget projections. The investors would like to see the thought process behind your financial strategy and how your company has performed in its first month. They have therefore asked you to present a report that includes the costing and income data from your Project Workbook.