All of the following are examples of managerial accounting activities except ________. A. preparing external financial statements in compliance with GAAP B. deciding whether or not to use automation C. making equipment repair or replacement decisions D. deciding whether or not to use automation

Q: Managerial accounting a. is primarily for external users. b. has no mandatory rules. c, provides…

A: Managerial accounting is focused on providing information to managers.   This helps the managers in…

Q: How do you prepare an income statement/calculate the operating income in managerial accounting?

A: Income statement: Income statement is a main part of financial statement. All revenues and expenses…

Q: Briefly explain the financial and/or managerial decisions that are made from creating a sales order…

A: Creating a sales order and a payment receipt are two critical documents in any business. The sales…

Q: What are at least two reasons why management should involve the accounting  personnel in the process…

A: Accountancy: Accounting can be defined as the language of business that measures, evaluates,…

Q: The steps of the plan–do–check–act cycle and how each step defines a unique purpose and role for…

A: Strategic management is important in business because it allows a company to discover areas where it…

Q: _____________ is devoted to providing information to the external users

A: External users are investors, creditors and other third parties who review the financials of the…

Q: The area of accounting concerned with providing internal users with information is called O a.…

A: There are mainly two types of users of accounting information - the external and . The external…

Q: Discuss development needs and skills required for managerial accounting job and future goals?

A: The objective of this question is to understand the skills and development needs required for a…

Q: Compare managerial accounting and financial accounting in terms of the following: • types of…

A: Solution:- Introduction:- Managerial accounting used by managers and directors to make decisions…

Q: The accounting and other reports that help managers monitor performance and focus on problems and/or…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: list down the various levels, methods and approach of earning management

A: Answer: Earning management is the accounting term that is used to present different financial…

Q: In managerial decision-making, a company must collect relevant information to use in the evaluation…

A: Managerial decision-making is a process aimed at resolving identified problems and enabling…

Q: What can be understood by Staff Accounting Bulletins?

A: International Financial Reporting Standards (IFRS):  International Financial Reporting Standards is…

Q: give an example of profit measurement in managerial accounting that fulfill a situation

A: Objective Managerial accounting Maximization of profit and minimization of losses  are the main…

Q: Explain the difference between FIFO and LIFO methods . Provide example for each method. The subject…

A: Difference between FIFO and LIFO methods No. FIFO LIFO 1) In FIFO method the stock brought…

Q: Please describe a managerial accounting concept or topic you learned in this course. Identify the…

A: Solution: Management Accounting  is also called as managerial accounting and can be defined as a…

Q: Cost and management accounting OA. require and entirely separate group of accounts than financial…

A: Cost and management accounting aids companies in determining the costs of materials, projects, and…

Q: Conduct research and provide an overview of what performance evaluation entails in managerial…

A: 1. Use of performance evaluation in managerial accounting: A management control system's foundation…

Q: Identify some qualitative factors that should be considered when making managerial decisions.

A:

Q: Which of the following does NOT describe management accounting? A. Emphasis on the past

A: Management Accounting-: Management Accounting assists managers within a firm make judgments. Also…

Q: Management accounting is used by  A. Internal managers B. Shareholders  C. External users D.…

A: Accounting is the process of recording and reporting the monetary transactions in the books of…

Q: Distinguish between managerial and financial accounting in terms of the key consumers of their…

A: Introduction : When a company's transactions and economic activity throughout time are recorded and…

Q: Cost & Managerial Accounting and the Business Environment in details. Identify the major…

A: Cost and Managerial accounting and Business Environment plays an important role in a business's…

Q: The branch of accounting that deals with evaluating the cost of products is called: O a. Financial…

A: The branch of accounting that deals with the cost of products is used to ascertain and allocate the…

Q: Organization Structure refers to a. Making necessary arrangements for procuring required manpower…

A: Organization structure means the layer of organization where every duties and responsibility of each…

Q: The type of accounting that is related to cost ascertainment and control is: a. Cost accounting b.…

A: Financial accounting helps in preparation and presentation of financial statements Taxation…

Q: Distinguish between managerial and financial accounting

A: Managerial Accounting is the application of various analysis, measurements, identification,…

Q: Distinguish  between Managerial Accounting and Financial Accounting with respect to the primary…

A: The process of recording, summarising, and reporting to the public or regulators the flow of…

Q: For the following activitie, explain which of the objectives of managerial accounting activity is…

A: Definition: Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare…

Q: Types of decisions that managers make include all of the following except: a.choosing which…

A: Types of Decision Making – 4 Types of Decisions that are Usually Taken by Managers in the…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A:

Q: Assume that you are appointed as a management accountant of Maxwell inc. You have to collect data on…

A: Management accounting is a branch of accounting in which management accountants performs  various…

Q: The benefits of management accounting information include:   a. More effective planning b. All of…

A: management accounting -  Management accounting helps managers in making operational decisions, helps…

Q: Write a report on the Use of Managerial Accounting in businesses.

A: There are 3 branches of accounting : Financial Accounting Management Accounting Cost Accounting.…

Q: Assume you have just been hired as the management accountant in charge of providing your firm’s…

A: Value chain is the model of business, which states the activities full range required to create the…

Q: Importance of cost accounting to an Accounting student

A: Cost accounting is an essential part of every business. This will help you to make better financial…

Q: Which of the following is not a characteristic of useful managerial accounting reports?…

A: Managerial accounting reports are meant for the internal management of a company and not for…

Q: Describe the Relationship of the below mentioned managerial accounting concepts : i. Cost Reduction…

A: There are several concept and techniques which are used for the measurement of overall performance…

Q: Please describe a managerial accounting concept or topic you learned in this course. Identify the…

A: Managerial accounting: Managerial accounting helps the management (internal users) to make best…