For this meeting, I would like you to recall / think about what management accounting concepts have you learned that you can apply in your work place or your business or at home if you are a full time student. Part of the final requirement of this course is for you to present a situation where you have applied the concepts learned in this subject. I am announcing this requirement as early as now. You can use the concepts of our future remaining topic as well, that is – budgeting (chapter 9 of the ebook).
Applying the management accounting concepts introduced to you since the beginning of the course, I would like you to come up with the situation where you have applied (or can apply) the concepts you have gained in this course. Perhaps, you can present a computation / actual calculation of a break-even analysis of the company you are connected with, or compute the break-even of your business for those who are in business. You can also cite cases where you could apply concepts acquired in relevant costing or short-run decision making. If you are a fulltime student, give an actual situation where you have applied concepts of short-run decision making / cvp analysis. You can also present a financial statements analysis of your company where you are working or that of your business, what are the prospects of your company, strengths and weakness as well as the the opportunities and the threat?
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