The objective of Responsibility Accounting is to evaluate performance and provide a feedback so that future operations can be improved.Do you agree? Justify your answer.

Q: What is the relationship between the value chain and management accounting?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Define goal congruence, and explain why it is important to an organization’s success.

A: Managerial accounting: Managerial accounting is a system, or a process of collecting and organizing,…

Q: Managers in which of the following responsibility centers are held responsible forprofits? (You may…

A: C. Profit centers is the answer

Q: In responsibility accounting, why are reports to higherlevel managers usually summarized?

A: Responsibility Accounting:   The management of responsibility centers by the means of Fe-determined…

Q: Management accounting's goals are to aid management in the processes of planning, controlling, and…

A: THE ANSWER:

Q: Which among the following is a tool of management accounting? a. Risk analysis b. Budgeting c.…

A: Accounting for management: Management or managerial accounting establishes organizational goals by…

Q: Why should each of the following be acquainted with the principles of compounding and present value?…

A: Amounts of money now are worth more than the same amount tomorrow, according to present value.…

Q: Responsibility centers typically involve cost, profit, and investment centers. What is the basic…

A: A responsibility center is a functional entity within a company with its own aims and objectives,…

Q: Briefly explain the relationship between the organisation's mission statement and performance…

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: Explain why it is important in performance evaluation to distinguish between investment centers and…

A: Return on investment (ROI): Return on investment evaluates how efficiently the assets are used in…

Q: what type of decision-making process is supported by management accounting

A: Type of decision-making process is supported by management accounting will be explained:

Q: How can D. Corporation go about designing a good performance report?

A: Performance report is the report which is prepared by the firm in the end the end of the reporting…

Q: Which of the following is not a goal of performance evaluation systems? a. Promoting goal congruence…

A: Answer:

Q: Describe the critical factor in evaluating whether a performanceobligation is satisfied.

A: Performance Obligation: Performance obligation means a promise to transfer goods or services.

Q: Explain how to get positive behavioral effects from a responsibility-accounting system.

A:

Q: 1- When is a revenue or cost item relevant for a particular decision?

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: What is the key feature of activity-based responsibility accounting? Briefly explain.

A:

Q: Explain how the choice of the type of responsibility center (cost, revenue, profit, or investment)…

A:

Q: What is Earning management/creative accounting? How might the monitoring and bonding features of the…

A: Earnings management is the use of accounting practices to construct financial statements that…

Q: Explain how management accounting systems can be adapted to enable an organization to engage in…

A: Companies interact their performance and impacts on a wide range of sustainability topics, including…

Q: “Companies should focus on financial measures of quality because these are the only measures of…

A:

Q: A good performance measurement system should have the following characteristics: It should be based…

A: Good performance measurement must be established because the absence of a good performance…

Q: What is meant by the following statement? “Managerial accounting often serves an attention-directing…

A: Managerial accounting:   Management accounting is a practice where by management reports and…

Q: what kind of decision that management accounting is used for?

A: According to Cost and Management Accounts, London, "Management Accounting is concerned with the…

Q: Which of the following is not a goal of performance evaluation systems? Promoting goal congruence…

A: Answer:

Q: What challenges managers faced when implementing strategic management accounting approach?

A: Strategic management accounting means analysis of financial information for use by management for…

Q: Preparing performance reports that contain data only about items that a specific manager controls is…

A: Performance report: It implies to a document that is created to show the outcome or results related…

Q: brenchmarking to improve an organizations performance

A: Benchmarking is the method of fixing standards for evaluating the performance of the business entity…

Q: Can you tell us what accounting will be used to evaluate each of the responsibility centers?

A: There are three responsibility centres in accounting  Revenue centre-The revenue centre have…

Q: Based on the assignment and what you know about management accounting, what do you believe is the…

A: Management accounting :             The branch of accounting which facilitates the information from…

Q: Why is goal congruence important to an organization’s success? How does a responsibility-accounting…

A:

Q: How are the value chain and management accounting related?

A: Because you asked many questions, we will resolve the first one for you. Please mention the question…

Q: Would you change a performance appraisal to reflect more positively on an individual whose…

A: Performance appraisal are one of the most important aspects of management, but they are also one of…

Q: Describe a strategic-based responsibility accounting system. How does it differ fromactivity-based…

A: Responsibility accounting is a means of evaluating the performance of various divisions within an…

Q: how does the accounting process help address issues caused by information asymmetry?

A: Since there are multiple question asked, answer will be given for first question only, to get all…

Q: based on the current issues in management accounting of sustainability and the management accounting…

A: The concept of sustainability involves operating in a way that takes full account of an…

Q: What is the relationship between the value chain and management accounting?

A: Managerial accounting refers to the practice of recognizing, estimating, breaking down, deciphering,…

Q: good performance measurement system will align the goals of management with ________.

A: Performance measurement is used by the managers in order to make decisions that will be an advantage…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.