This report explains in detail the role and function of the management account department of one of the biggest online furniture retailers Wayfair. It also comprises the management accounting systems functioning in the organization and the variety of techniques applied. At the end of it, the Junior Management Accountant explores three planning tools that will guarantee financial solidity and execution and how management accounting has played a part in avoiding and resolving financial problems. Task 2 of the report comprises preparing income statements using marginal and absorption costing, business memo of financial analysis of a company and make versus buy decision task.
Keywords: #management accounting, #marginal costing, #absorption costing, #makeversusbuydecision, #continueversuseliminatedecision, #income statement