Question

In recent times, many NZ companies have been exposed tointense competition with rapid and unpredictable changes in thebusiness environment. These companies have relied on managementaccounting to make informed business decisions and maximisefinancial performance.

What management accounting tools and techniques may support theoperational and strategic management functions of Fonterra (dairycompany)? In your answer, explain clearly how these tools andtechniques can be applied to help manage costs and improvefinancial performance of the company? (300-500 words)