✓ Cost of making a product or providing a service: establishing selling price , product profitability analysis for product mix decisions , cost control

✓ Costs and benefits of different possible courses of action : making short term decisions about the most profitable use of existing resources

✓ Levels of sales turnover necessary to cover full costs and prevent losses:profit planning

✓ Comparison of budgeted and and actual costs and revenues: budgetary control

✓ Inventory levels and time taken to receive payment from bebtors , time taken to pay creditors: working capital management

✓ Profitability of business segments : performance evaluation

✓ Customer profitability: identification and management of key accounts.

Explain