Abstract
In your role as head management accountant, you have been asked to prepare a report for your new junior colleagues in the organization who are new to accounting and have little management accounting experience. In your report you may decide to focus upon a broad range of issues relevant to the topic. Alternatively, you may decide to focus your report on one particular aspect of management accounting which you think is of crucial importance to the Olympics. In 2006 the Olympic committee has decided to dedicate £400 billion in order to establish a Cost Control system. This system is compounded of two core elements: a planning process and a responsibility accounting scheme. The planning process requires enumerating the Olympic committee plans of action, which are the construction of an Olympic Park, the improvement of the transports, the development of sustainable issues, the celebration of cultures and the organization of the security; all those plans must then be implemented and cost.
