1. The Management Accountant is one of the major providers of information for planning purposes. To do this effectively it is essential that management understands the nature of planning, how plans are established and the place of budgeting in the planning process. Clearly state the differences between strategic, tactical and operational planning within an organization. (If you write the definition for each term without identifying the differences marks will be deducted.) 2. Define corporate planning and discuss in your own words how it relates to budgeting