Look back to your list from Activity 1.4 for planning, decision making and control in setting up a travel agency business. Make another list of ways in which management accounting will help in directing attention, keeping the score and solving problems.

Activity 1.4

Imagine that you want to set up a business as a travel agent booking low-cost holidays with the emphasis on good value. List two activities that you might carry out in each of the stages of planning, decision making and control.