In the course of developing the global accounting standards, the International Financial Reporting Standards are widely recognized over $100$ countries. Therefore, more and more companies are presenting their financial information in the International Financial Reporting Standards to their internal and external users. As one of the largest retailers in the world, Mil Ltd$.$ has its business over $10$ countries and employed almost $3,20,000$ people. It is very interesting to see how its accounting information supports its operations. To show how the business is running, the accounting information are provided to all users as managers, customers, suppliers, associations and government. As a retailer, it is very important for Mil Ltd$.$ to provide a positive financial statement to its accounting information users.

a$.$ In the context of the above case study, identify and explain the relevance of Management Accounting Information to the employees.

b$.$ Explain in what way management accounting practices in global perspective are relevant to shareholders?