You have been engaged as a consultant by an emerging business that manufactures a product or provides a service and seeking to implement an excellent management accounting information system for a new set of management and Board of Directors that have been constituted. The terms of reference for the assignment include, but not limited$,$ to the following: Investigation into the nature and structure of the business with specific reference to the techniques for costing products and services, the preparation of annual budgets and budgetary control processes, management accounting information and reporting systems. You are required to use your recent knowledge acquired in the study of management accounting. The essay must make specific reference to the following:

$1.$ The nature of business

$2.$ Costing terms and concepts used

$3.$ Costing tecniques

$4.$ Budget preparation and budgetary control process

$5.$ Nature of management information reporting

$6.$ Evaluation of all the information above and

$7.$ Recommendations to the new management and directors.