We accountants have the fancy of solving the toughest management accounting problem in the examination just like forecasting of Mumbai weather. The above screenshot (click on the image to view it bigger) is a examination question from one of the professional examination.
You are the Management Accountant of Kickstart Ltd and your management has asked you to prepare Actual Profit & Loss and compare it with the budgeted accounts. How would you go about doing it.
Make assumptions and conclude.