The president of Piele S.A., a manufacturer of natural leather products, is reviewing the results of the first half of the year. A team of consultants has been working with the firm to restructure the company's budgeting and reporting systems. The new systems have been in place for six months and the president must analyse the results before meeting with the management team to discuss what actions should be taken for the future.

Teaching note for product 9B01B029.