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Provide Management Accounting Assessment

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Provide Management Accounting Information
Assessment - Role Play

FNSACC503A Manage budgets & forecasts
FNSACC507A Provide management accounting information

Based on the research that we have conducted for small clothing retail industry, the clothing industry is not doing really well in this several years because of the global financial crisis. We know that the global financial crisis has made the customer feel more cautious to spend their money. Growth in industry revenue has been undermined by a decline in prices. Prices have been driven lower by fierce competition within the industry in Australia since there is a lot of new big retailer coming in such as H&M and Uniqlo. Two of them can give a big impact on the small player or big player in this industry since they are quite famous because of their brand image in the overseas. The high value of the Australian dollar has meant that many retailers, especially the larger operators, have been able to purchase stock at significant discounts. However, consumers have scaled back spending at bricks-and-mortar stores, inciting price reductions that effectively nullify any cost savings for operators. Some of the big player in this industry try to an acquisition or acquiring smaller companies to have generate their market share, but even the top four in this industry which are Premier Investment Limited, Specialty Fashion Group Limited, Country Road Limited, and ARJ Group Holdings Pty Ltd generate less than 20% of industry revenue.
Comparing the financial data that the client gave us with the industry average, “Prim Clothing” doesn’t really have a big issue cause the figures is not showing a big difference with the industry benchmark. Overall, there is the same figures between the benchmark and “Prim Clothing” financial data, both of them have big ratio on expenses. From the forecast of “Prim Clothing”…...

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