Why should accountants participate in product design

Q: What are the main principles of managerial accounting?

A: Managerial Accounting: Managerial Accounting is the type of accounting that provides financial…

Q: Why is cost estimation an important function in managerial accounting?

A: Cost estimation involves predicting the cost to be incurred for the production of goods and services…

Q: Evaluate and Integrate the role of quantitative information in making business decisions.

A: Quantitative studies are all about numbers. It makes use of mathematical evaluation and facts to…

Q: Explain the contemporary business environment and how it has influenced costmanagement.

A: The business environment that is extremely competitive and creates a performance pressure on the…

Q: What is the role of Engineers in business?

A: Engineers are normally engaged with assembling process structure, items, plant creation, and upkeep.…

Q: How does managerial accounting differ from financial accounting?

A: Accounting: Accounting is an art of collecting, recording, summarizing and presenting the financial…

Q: What is the essence of sound financial management to the procurement manager.

A: Financial management  Financial management includes using the planning function, organizing…

Q: Explain the concept and scope of Managerial Accounting together with its functions with example.

A: SOLUTION- CONCEPT OF MANAGERIAL ACCOUNTING - IT IS THE PROCESS OF IDENTIFICATION, MEASUREMENT ,…

Q: Is it correct that managerial accounting mainly provides services for manufacturing organizations?…

A: The concept of managerial accounting is majorly used to analyzed costs incurred on the products but…

Q: w accountants Play their role as designers implementers auditors ass well as Users of Ais

A: Accountants are persons who keep, maintain and update books of accounts for their respective…

Q: What are the types of work performed, the overall areas of focus, and/or other relevant information…

A: Accounting is the method by which the transactions of the business can be recorded so that the…

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the  ones which procure raw materials and carry out manufacturing…

Q: What are the differences between managerial accounting and financial accounting? taking example

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

Q: ow important profit center in managerial accounting

A: Profit Center - Profit Center is the individual unit operating independently from the main branch or…

Q: What other factors should a management accountant take into consideration when setting direct…

A: Factors that should be considered   Standards must be set both in Physical and Monetary Terms…

Q: What standards do management accountants follow?

A: Managerial Accounting is different than the financial accounting. Managerial accounting is prepared…

Q: Describe how manufacturing, merchandising and service-sector companies differ from one another?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: primary users of managerial accounting information

A: Accounting information is presented in the financial statement of the company. The financial…

Q: Demonstrate how the Institute of Management Accountants may provide value to a company's operations.

A: The Institute of Management Accountants (IMA), the professional organization for management…

Q: How cost accounting is useful for external user as Government ,and customer etc.support your answer…

A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…

Q: What guidelines do management accountants use?

A: The answer:

Q: What distinguishes a merchandising business from a service business?

A: Merchandising Company and Service Company: A merchandising company generates income by selling goods…

Q: How is managerial accounting useful

A: Introduction: Accounting; Accounting is an art of recording, classifying,  summarizing and…

Q: Why do management accountants need to understand their company’s strategy?

A:

Q: What term describes all business processes associated with providing a product or service? O The…

A: A product is a tangible item that can be sold to the customers.  Service is an intangible item which…

Q: 1. Why do entrepreneurs need to consider the credibility of suppliers in choosing suppliers of raw…

A: Credibility of Suppliers is one of the key considerations for choosing suppliers.  Credible…

Q: Discuss and explain how does finance important for an Industrial Engineer Manager

A: The Industrial Engineer Manager is the one who mange all the industrial engineering activities. He…

Q: What is the similarities and defference between cost accontant, management accountant and fanincial…

A: Cost accountant deals with ascertainment, allocation, recording and analysis of accounting data. It…

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: Why do managers need to know the cost of their products?

A: Job order costing: Job order costing is one of the methods of cost accounting under which cost is…

Q: Identify the correct statement with respect to manufacturing and merchandising companies in general…

A: A merchandising firm is one of the most common types of business. A sales firm is a business that…

Q: Is Standard costing still a useful tool for the Management accountant? How could it be adapted to…

A: Costing Accounting- A cost accounting system is a type of perpetual inventory accounting system that…

Q: What is the primary purpose of managerial accounting?

A: It is a branch of accounting that gives aid to management, as it provides relevant information that…

Q: What are some of the importance of financial management to procurement managers?

A: A procurement manager is in charge of sourcing goods and services for their company. Another title…

Q: What is the full form of CIMA, the professional body controlling the profession of Cost Accounting?…

A: Introduction: CIMA: CIMA is Established in March , 1919 CIMA is the world largest Accounting body.

Q: How we are going to use Managerial Accounting in practical life?

A: Managerial Accounting:- It is a practice of accounting that helps managers or management to provide…

Q: Mr. Ahmed is responsible for appropriate product design, pricing policy, delivery, and services to…

A: Mr. Ahmed is responsible for appropriate product design, pricing policy, delivery, and services to…

Q: how is focusing on costumer value changing managerial accounting?

A: Customer is the person or firm which procures the goods or avails the services from the business.…

Q: Why is managerial accounting relevant to business majors and their future careers?

A: Accounting has its two branches; managerial accounting and financial accounting. Managerial…

Q: Why is credit approval an important part of the revenue cycle? And Why should accountants…

A: A cycle indicating a set of business activities and its information processing operations that…

Q: what is managerial accounting and why could it be important in your present and future plans as a…

A: Management Accounting is the field of accounting which deals to present the necessary accounting…

Q: What guidelines do management accountantsuse?

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

Q: How can accounting consultants or auditors minimize the cost of doing business? How is this…

A: SOLUTIONS- ACCOUNTING CONSULTANTS ADVISES BUSINESSES ON FINANCIAL DECISION AND THEIR ACCOUNTING…

Q: Recommend actions for a manufacturing company on how to maintain or perhaps improve more their…

A: Answer: Manufacturing company are those company which are involved in extensive operations on day to…