I need specific answers with examples and no plagiarism.
1. What are the three principles guiding the design of management accounting systems? How is it important for assuring the financial statements are fairly presented?
2. What are three criteria for successful business process management? How can each process be integrated successfully in the business? Make sure that you present each one through an empirical example from real life businesses.
3. A business may expect to benefit from preparing a formal budget in several ways, including three required; What are they? Present the three topics with examples from real life businesses.
4. The major shortcoming in using the payback period as the sole criterion in capital budgeting decisions is that this method ignores what?