Describe, and explain each stage of, the cycle of profit planning and control. (Section 16.4.3)

1. In the chapter there are four case studies where Fiona McTaggart explains what she is able to offer in four situations, using her management accounting experience. Her advice is primarily inward-looking and based on the traditional approaches to planning, control and decision making. Add two sentences to each of Fiona’s explanations in order to present a more strategic awareness of the activities of competitors. (Section 16.5)

1. Suggest reasons for the lack of an agreed set of standard words in the language of management accounting. (Section 16.6)