Case Meat Village is a business that operates in two branches (Sitra and Muharraq). The business is facing recession and tough competition in the market, so it decided to discontinue one of the two branches in order to reduce its cost and just focus on the most profitable branch. The new manager has undertaken some market researches and forecasted the main costs for the two branches in one of its popular products in order to be used in her report that will be submitted to the accounting manager. She has asked you, as a Management Accounting trainee, to help in her report. 1.1 Based on the above case, answer the following: 1.1.1 What are the main functions of a management accountant? (1.5 marks) 1.1.2 Differentiate between management accounting and financial accounting in terms of: (1.5 marks) Management accounting Financial accounting The nature of information Font INN Paragraph N Styles (1.5 marks) Financial accounting Management accounting The nature of information Unit of measures The report formats Page 3 of 11 elegraph IN Styles 1.1.3 From the prospective of the management accountant, identify the main factors needed to be considered to decide on which branch Meat Village needs to close. (3 Marks) Paragraph Styles accounting and which are for management accounting. Statements Managerial Accounting (7 Marks) Financial Accounting 1. Reporting last year's cost of materials. 2. Calculating the return on investment of the investment centre. 3. Focuses on various segments of the business entity. 4. Demands objectivity only. 5. Relies on the criterion of usefulness rather than formal guidelines in reporting information. 6. Measures units in historical dollars. 7. Recording the purchases invoices in purchases ledger. 8. Reports information on regular basis. for 9. Uses only monetary measures reports. Case Meat Village is a business that operates in two branches (Sitra and Muharraq). The business is facing recession and tough competition in the market, so it decided to discontinue one of the two branches in order to reduce its cost and just focus on the most profitable branch. The new manager has undertaken some market researches and forecasted the main costs for the two branches in one of its popular products in order to be used in her report that will be submitted to the accounting manager. She has asked you, as a Management Accounting trainee, to help in her report. 1.1 Based on the above case, answer the following: 1.1.1 What are the main functions of a management accountant? (1.5 marks) 1.1.2 Differentiate between management accounting and financial accounting in terms of: (1.5 marks) Management accounting Financial accounting The nature of information Font INN Paragraph N Styles (1.5 marks) Financial accounting Management accounting The nature of information Unit of measures The report formats Page 3 of 11 elegraph IN Styles 1.1.3 From the prospective of the management accountant, identify the main factors needed to be considered to decide on which branch Meat Village needs to close. (3 Marks) Paragraph Styles accounting and which are for management accounting. Statements Managerial Accounting (7 Marks) Financial Accounting 1. Reporting last year's cost of materials. 2. Calculating the return on investment of the investment centre. 3. Focuses on various segments of the business entity. 4. Demands objectivity only. 5. Relies on the criterion of usefulness rather than formal guidelines in reporting information. 6. Measures units in historical dollars. 7. Recording the purchases invoices in purchases ledger. 8. Reports information on regular basis. for 9. Uses only monetary measures reports