Background:
You have been hired by the Board of Directors of your chosen company (ASX Listed) to explain how ABC model can improve the management accounting information available to its top management team (i.e. CEO and senior managers).
Required:
You are required to prepare a report to recommend about ABC model for your company. The report should cover the followings:
a) An explanation of ABC model and its features
b) An explanation of how ABC model aligns with the current goals and strategies of the company.
This explanation should include:
i) An identification of the company's mission and objectives; and
ii) An identification of the company's corporate strategies
iii) An explanation of how ABC model assist in achieving the company's strategies.
c) Provide at least two (2) recommendations about the implementation of ABC model for your company based on your research findings.
d) Apart from ABC model, suggest one other management accounting tool suitable for your company and justify it.