Softmoc is a shoe retailing company. The majority of its sales are made at its own stores. These stores are often located in shopping malls or in the downtown shopping districts of cities. A small but increasing percentage of sales are made via its Internet shopping division.
The following five reports were recently prepared by the management accounting group at Softmoc:
a. Annual financial statements included in the annual report sent to its shareholders.
b. Weekly report to the vice-president of operations for each Softmoc store—includes revenue, gross margin, and operating costs.
c. Report to insurance company on losses Softmoc suffered at its new Toronto store resulting from a storm.
d. Weekly report to a new supplier on the sales of that supplier’s products at both the Softmoc stores and by the Internet division.
e. Study for vice-president of new business development of the expected revenue and expected costs of the Softmoc Internet division selling foot-health products (arch supports, heel inserts, etc.) as well as shoes.
REQUIRED
For each report, identify how a manager would use it to make both a planning decision and a control decision (either at Softmoc or another company).