Assume that you are appointed as a management accountant of Maxwell inc. You have to collect data on competitors and their products, price, features, satisfaction level and their needs. As a management accountant compile the collected information and analyse whom the report should be presented? a. Top management b. Operating management c. Middle management d. All of these

Assume that you are appointed as a management accountant of Maxwell inc. You have to collect data on competitors and their products, price, features, satisfaction level and their needs. As a management accountant compile the collected information and analyse whom the report should be presented? a. Top management b. Operating management c. Middle management d. All of these

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 6MC: Managerial accounting produces information: to meet the needs of external users that is often...

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Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
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 _______. A. a controllable factors framework B. an uncontrollable factors framework C. a strategic plan framework D. a responsibility accounting framework
Which of the following groups would have access to managerial accounting information? A. bankers B. investors C. competitors of the business D. managers
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Indicate whether each statement describes financial accounting or managerial accounting. The information is directed at external users who are making decisions pertaining to investing, extending credit, and other decisions. The principal users are the organizations managers. The key focus is on the entity as a whole. The rules and principles are very flexible. The information gathered is usually available after an independent audit has been completed.
Assume that you are appointed as a management accountant of Maxwell inc. You have to collect data on competitors and their products, price, features, satisfaction level and their needs. As a management accountant compile the collected information and analyze whom the report should be presented ? a . Middle management b . Operating management C. All of these O d . Top management
Include examples of the type of information and reports the management accountant can provide.
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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.
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