The Business Times reported on 26 January 2021 that "Sheng Siong staff [are] to get up to 16

months' bonus after strong earnings amid COVID-19 pandemic". This was to recognize that

the company had "performed extremely well as compared to previous years in 2020, on the

back of elevated demand for its offerings due to the COVID-19 pandemic".

Many analysts attributed the sterling results to the company's following actions:

Adoption of cost leadership strategy through aggressive cost control.

And focusing on appropriate product offerings of value for money shelf-stable

groceries strongly demanded by customers.

The timely embrace of e-commerce (online grocery).

As the nation slowly returns to normalcy, analysts believe that the customers' expectations in grocery shopping will be forever changed. To continue to do well, supermarket chains like Sheng Siong should be asking the following questions:

What channels should they be focusing on? Do they need to invest more into e-commerce? Or look for partnerships with major consumer good suppliers?

Should they continue to offer products that sell well during the pandemic or do they diversify their products range?

Should they be investing more in revamping stores to cater to curb-side deliveries or should they be directing investments to opening new compact stores?

Should they make further investment to improve the current payment system to ensure safety and security for consumers?

Required:

(a) Define management accounting. Based on the report above, explain how management accounting has helped Sheng Siong achieve success.

(10 marks)

(b) Describe the major management accounting processes and techniques that can be used for companies in the supermarket industry.

(25 marks)

(c) Explain the ways in which the information of the key processes of management accounting can help companies like Sheng Siong meet the challenges expected in the post-pandemic supermarket industry.

(25 marks)

(d) If Sheng Siong is to continue its pursuit of cost leadership strategy, describe the types of management accounting information that might assist the management.

(10 marks)