Part A:

Have a conversation with an Owner-Manager of a restaurant in Australia. Ask the Owner-Manager or the Manager the following questions:

i) Does the restaurant collect and use cost information for planning and control purposes? How often?

ii) Who is responsible for the collection of cost information? Be as specific as possible.

iii) What type of cost information does the business collect? Provide examples incl. types of reports.

iv) How important does the Owner-Manager or the Manager believe cost information are to the Business's success? Explain.

Part B:

Choose one peer-reviewed journal article (from any country) on the: Use of Cost Information in a real-life organization (i.e. a case-based empirical study). The article should be published between 1990 - 2020. Choose your article only after you have accessed and reviewed several relevant articles, and then choose the best article that will answer the questions below.

Questions:

1. Based on your chosen journal article, briefly summarize the types of cost information and the use of cost information for planning and control purposes.

2. Based on your chosen journal article, did the Owner or Manager(s) in the study use similar cost information as discussed in Part A? Why or why not? Include examples in your answer from your journal article.

3. Based on your chosen journal article, how useful was the accounting information to the internal users (Owner or Manager(s)) in the organization? Discuss with examples from your journal article.

4. Based on your literature findings and interview findings (from Part A), state two key lessons that would inform contemporary organizations about the practical use of cost information.