Your department head has requested you to prepare a report to cover the use of accounting planning and analytical tools by managers for management reporting and how managers can respond to financial problems. In the report, you should evaluate the way planning and analytical tools for accounting can help to solve problems and support the organization in achieving sustainable financial success. You may refer to any organization of your choice which you wish to give examples. Please ensure you include the following in your report: 1. Explain and analyze the pros and cons of using budget planning and how it is applied in preparing and projecting budgets, financial control, and performance measurement for this company. 2. Explain the use of other planning tools in management accounting that this firm uses. 3. Recommend how managers can improve the response to financial issues as well as financial performance using accounting planning and analytical tools.

This is my final group assignment, my teacher told me that I can create an artificial firm with makeup internal reports and financial data. I want to ask what i and my group should do in detail for this 3,000-word report.