Managerial Accounting Question (Conceptual):

Preparing a personal budget has always worked as a great tool for controlling personal finances. Particularly when we make a big decision, it has always been useful to prepare a budget. For many people in our country, one of the important decisions they make is whether to purchase a car. In India the percentage of people who own a car has increased significantly during the last few years. This is partially because of the starting of operation of Uber in India. Another reason can be availability of car loans. Moreover,the interest on car loan is also tax deductible. Before purchasing a car you should first consider whether buying it is the best choice for you. Suppose you have just graduated from the university and got a decent job. Should you immediately buy a car?

Write a response of considering the pros and cons and indicating your position regarding the situation, should you buy the car. Provide proper justification. (Explain in as detail as possible.)

( Use the concept of relevant costing and budgeting ,to answer the question. The question is related to decision making)