Question: Identify and establish systems to generate operating and cost data Jessica Wilde works for a leading manufacturing company, and every time faces problem recording business transactions in a well-organized manner as a result of not having a good recording system. Often she faces a problem of showing operating and non-operating cost as the company uses an old version of accounting procedure system which records every cost under one entry which is Cost Data. Earlier she didn't have any problem recording the transactions as the business arena wasn't big. But now as the business has broader areas and transactions increased significantly she is having difficulty maintaining in a changing and even more competitive business environment. Required: What would you suggest Jessica in terms of monitoring operating and generating cost data? Should she have a system established? Why or why not?