Question 2 Financial Services Manangement

Describe any two of the management accounting tools and techniques that the organisation could benefit from if it applied these tools or techniques. Include the following

A clear and detailed description of the tool or technique.

Why the tool or technique is appropriate for the organisation you identified.

How the organisation could apply these tools or techniques.

What the benefits would be for the organisation making use of these tools or techniques.

Explain the benefits to the organisation using variance analysis as part of their cost.