During the pandemic of COVID-19, Panyas revenue growth has been slow down. Panyas net income reduced about 10 percent in 2021 because some clients closed down their businesses. The situation seems to be better in 2022 so management plan to recover and expand its business both in Thailand and oversea. Since Panya corporation was established in 2000, it excels in assurance service. Later on the corporation started tax, law and business consulting upon the requests of their clients. All types of services continue to grow rapidly beyond management expectation. Required: In the midst of uncertainty, design at least three management reports that would help management plan, control, monitor and manage its businesses.

For each management reports, 1) explain the concept behind, the purpose or the usefulness of the report. 2) show details or list the items you would like to present in your reports. Note: Make sure that you provide all details otherwise you would fail to meet this

Panya Corporation provides four main services including business consulting, assurance, tax, and law services. The company headquarter is located in Bangkok, but it provides services in Thailand and other countries in South-east Asia. The company financial statement for the year ended 2521 is as follow. The income statement shows the operating performance of the overall corporation for the year ended in 2021. In addition to the professional staff and administrative staff salaries, the travelling expense is one of the main items, since the service works are usually performed at the client cite. About forty percent of the revenue comes from oversea clients. Panya corporation uses a job-order costing system to accumulate the cost of client projects, so the corporation already has cost reports. Traceable costs are charged directly to individual clients, whereas, costs that are not identifiable with specific clients are charged by using a predetermined overhead rate based on total traceable costs. Utilities, depreciation and rent expenses are incurred at the headquarter office. With respect to the items in the statement of financial position, cash includes cash equivalent and deposits available for use. Intangible asset is one of the important items including different types of software and licenses used to provide services to clients. Panya Corporation provides four main services including business consulting, assurance, tax, and law services. The company headquarter is located in Bangkok, but it provides services in Thailand and other countries in South-east Asia. The company financial statement for the year ended 2521 is as follow. The income statement shows the operating performance of the overall corporation for the year ended in 2021. In addition to the professional staff and administrative staff salaries, the travelling expense is one of the main items, since the service works are usually performed at the client cite. About forty percent of the revenue comes from oversea clients. Panya corporation uses a job-order costing system to accumulate the cost of client projects, so the corporation already has cost reports. Traceable costs are charged directly to individual clients, whereas, costs that are not identifiable with specific clients are charged by using a predetermined overhead rate based on total traceable costs. Utilities, depreciation and rent expenses are incurred at the headquarter office. With respect to the items in the statement of financial position, cash includes cash equivalent and deposits available for use. Intangible asset is one of the important items including different types of software and licenses used to provide services to clients