ACC_1020_RP2

One of the primary goals of managerial accounting is to provide day to day information to individuals from the following groups, except: Question 12 options: a. board of directors b. lower level managers c. internal decision-makers. d. upper level managers

Managerial accounting provide information for decision making, planning, and controlling an organization's operations Select one: O True O False

Give true solution for general accounting question

Identify the true statement in relation to management accounting a . There are structured standards of acceptability for managerial accounting b . The structure of managerial accounting practice is relatively flexible c . Managerial accounting information is a legal requirement d . Managerial accounting information is prepared for external users

When managerial accountants design an evaluation system that is based on criteria for which a manager is responsible, and it is structured to encourage managers to make decisions that will meet the goals of the company as well as their own personal job goals, the framework used is ________. Group of answer choices A. a controllable factors framework B. an uncontrollable factors framework C. a strategic plan framework D. a responsibility accounting framework

d) Explain why managerial accounting is important to managers in an organization  e) Describe the organizations and rules that govern accounting

Explain the distinguishing features of managerial accounting. Show how ManagementAccounting benefits the firm.   Identify and explain six trends in managerial accounting

Present the following: Definition of managerial accounting Role of managerial accounting and the management accountant in a business or organization Ethical issues/concerns for the management accountant General description of at least three managerial accounting techniques available and their application within a business or organization Part II (Four to six double-spaced pages) Select at least three of the five topics identified below: Cost Management Techniques Costing Methods Capital Investment Decision Techniques Budgeting Quality Control For each topic selected present real world examples of the application of managerial accounting techniques within a business or organization. Examples may be gathered from your own professional experiences or from case studies obtained from credible sources (excluding textbook examples explored in previous weeks). Presentation of each example should include how a managerial accounting technique was applied in the business or organization s…

Managerial accounting is an important part of any enterprise’s management information system. Name two other information systems that supply information to management.

Indicate whether the following statements are true or false:a. Managerial accounting information is designed primarily to meet the needs of external users such as shareholders, creditors, and the general public.b. Managerial accounting reports must be prepared for the business as a whole.c. Operational planning develops short-term actions for managing the day-to-day operations of the company

h

_______ comprises of the plan of the organization and all the co-ordinate methods and measures adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data to promote operational efficiency and to encourage adherence to prescribed managerial policies. a. Internal Control b. Internal Audit c. Audit Plan d. Risk Assessment

Requirements Each of the statements below describes a responsibility of management. Match each statement to the management responsibility being fulfilled (a. Plan or d. Controlling). 1. 2₁ 3. Are the statements below more descriptive of managerial accounting or financial accounting information? Each of the statements below paraphrases an ethical responsibility. Match each statement to the standard of ethical professional practice being fulfilled c. Integrity, or d. Credibility). Each standard may be used more than once or not at all. Requirement 1. Each of the statements below describes a responsibility of management. Match each statement to the management responsibility being fulfilled c. Directing, or d. Controlling). Statement 1. Identifying alternative courses of action and choosing among them 2. Running the company on a day-to-day basis 3. Determining whether the company's units are operating according to plan Setting goals and objectives for the company and determining strategies…

One of the managerial accounting functions in a decentralised organisation is to develop a responsibility accounting system for the purposes of managerial performance measurement. Critically evaluate how responsibility accounting is related to the purposes of performance measurement systems. Provide appropriate and relevant references in your discussion, analysis and evaluation.

Comparing managerial accounting and financial accounting Match the following terms to the appropriate statement. Some terms may be used more than once, and some terms may not be used at all. a. Accounting systems that must follow GAAP b. External parties for whom financial accounting reports are prepared. c. The role managers play when they are monitoring day-to-day operations and keeping the company on track. d. Internal decision makers. e. Accounting system that provides information on a company’s past performance. f. Accounting system not restricted by GAAP. g. The management function that involves choosing goals and deciding how to achieve them.

TRUE OR FALSE

47 I. Financial accounting info. is usually used exclusively by internal parties such as managers.II. Financial accounting info. is presented according to generally accepted accounting principles.III. Managerial accounting info. includes items like budgets, performance evaluations, and cost reports.Which statement(s) is(are) true?

There many modern management patterns that organizations use. In this case, discuss the merits and demerits of employee-centred approach