Delve into the heart of financial management with our Q&A package tailored for success. Illuminate your path with clear answers, unravel challenging concepts, and empower your strategic decision making. Ideal for learners and professionals seeking clarity, this resource transforms the complexities ...
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Managerial Accounting The Gathering And Preparing Of Accounting Information That Is Used Within A Company To Help Ensure The Organization's Goals Are Met Effectively And Efficiently Internal Users People Inside The Company; Ex. Managers, Accountants, Etc External Users People Outside The Organiza...
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Add to cartManagerial Accounting The Gathering And Preparing Of Accounting Information That Is Used Within A Company To Help Ensure The Organization's Goals Are Met Effectively And Efficiently Internal Users People Inside The Company; Ex. Managers, Accountants, Etc External Users People Outside The Organiza...
The reporting standard for external financial reports is: a) company-specific. b) generally accepted accounting principles. c) department-specific. d) industry-specific. b) generally accepted accounting principles. A manufacturing process requires small amounts of glue. The glue used in the p...
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Add to cartThe reporting standard for external financial reports is: a) company-specific. b) generally accepted accounting principles. c) department-specific. d) industry-specific. b) generally accepted accounting principles. A manufacturing process requires small amounts of glue. The glue used in the p...
trategy - An accepted definition does not exist - General direction to achieve goals and objectives derived from the organization's mission (purpose) and vision ( how it wants to be perceived by the outside world) Planning - Selecting a course of action. - Must balance opportunities against re...
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Add to carttrategy - An accepted definition does not exist - General direction to achieve goals and objectives derived from the organization's mission (purpose) and vision ( how it wants to be perceived by the outside world) Planning - Selecting a course of action. - Must balance opportunities against re...
anagerial Accounting Field Of Accounting That Provides Economic And Financial Information For Managers And Other Internal Users Which Type Of Accounting Applies To All Types Of Businesses? Managerial Is Financial Accounting Involving External Or Internal Users? External Users Like Stockholders...
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Add to cartanagerial Accounting Field Of Accounting That Provides Economic And Financial Information For Managers And Other Internal Users Which Type Of Accounting Applies To All Types Of Businesses? Managerial Is Financial Accounting Involving External Or Internal Users? External Users Like Stockholders...
Accounting the process of keeping the financial score for the entity relevant cost: the cost that differs between two alternatives sunk cost: cash already spent; irrelevant to decision making because cash does not exist, does not effect anything we do break even is when revenue equals cost dif...
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Add to cartAccounting the process of keeping the financial score for the entity relevant cost: the cost that differs between two alternatives sunk cost: cash already spent; irrelevant to decision making because cash does not exist, does not effect anything we do break even is when revenue equals cost dif...
Manufacturing overhead all manufacturing costs except direct materials and direct labor; i.e. indirect manufacturing costs, maintenance and reparis on production equipment, property taxes, depreciation, insurance on manufacturing facilities Direct Materials Materials that become an integral par...
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Add to cartManufacturing overhead all manufacturing costs except direct materials and direct labor; i.e. indirect manufacturing costs, maintenance and reparis on production equipment, property taxes, depreciation, insurance on manufacturing facilities Direct Materials Materials that become an integral par...
Which of the following is not an objective of managerial accounting? To prepare external reports for investors, creditors, government agencies, and other outside users. Which of the following is an example of the management activity referred to as planning? Developing a strategy for disposing o...
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Add to cartWhich of the following is not an objective of managerial accounting? To prepare external reports for investors, creditors, government agencies, and other outside users. Which of the following is an example of the management activity referred to as planning? Developing a strategy for disposing o...
Balanced Scorecard an integrated set of performance measures that are derived from and support the organization's strategy Common fixed cost a fixed cost that supports more than one business segment, but is not traceable in whole or in part to any one of the business segments Cost center a bu...
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Add to cartBalanced Scorecard an integrated set of performance measures that are derived from and support the organization's strategy Common fixed cost a fixed cost that supports more than one business segment, but is not traceable in whole or in part to any one of the business segments Cost center a bu...
b. Managerial accountants facilitate the decision-making process within an organization. Which phrase best describes the current role of the managerial accountant? a. Managerial accountants prepare the financial statements for an organization. b. Managerial accountants facilitate the decision-ma...
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Add to cartb. Managerial accountants facilitate the decision-making process within an organization. Which phrase best describes the current role of the managerial accountant? a. Managerial accountants prepare the financial statements for an organization. b. Managerial accountants facilitate the decision-ma...
ash Inflows Activities which increase cash Cash Outflows Activities which decrease cash Operating Activities Is the result of everything you do in the Day to Day Operations, includes current assets and liabilities Investing Activities Is the buying and selling of long term assets and short term...
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Add to cartash Inflows Activities which increase cash Cash Outflows Activities which decrease cash Operating Activities Is the result of everything you do in the Day to Day Operations, includes current assets and liabilities Investing Activities Is the buying and selling of long term assets and short term...
Financial accounting information used by external users; must follow GAAP Managerial accounting reports financial and non-financial information that helps management (internal users) make decisions to achieve goals Management process 1. Decision making 2. Planning 3. Directing 4. Control Pla...
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Add to cartFinancial accounting information used by external users; must follow GAAP Managerial accounting reports financial and non-financial information that helps management (internal users) make decisions to achieve goals Management process 1. Decision making 2. Planning 3. Directing 4. Control Pla...
Managerial AND financial accounting both deal w/ economic events of a company (T/F) True The reports prepared for managerial accounting purposes are less detailed than those for financial accounting purposes (T/F) False. Reports for managerial accounting purposes are MORE detailed than those ...
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Add to cartManagerial AND financial accounting both deal w/ economic events of a company (T/F) True The reports prepared for managerial accounting purposes are less detailed than those for financial accounting purposes (T/F) False. Reports for managerial accounting purposes are MORE detailed than those ...
Balance Sheets 1. snapshot of resources (assets) and claims (liability+equity) 2. based on accounting equation Statement of Earnings (Income Statement) - operating performance over period of time - Revenues and expenses Statement of Cash Flows - flows of cash over time - Shows operating, inv...
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Add to cartBalance Sheets 1. snapshot of resources (assets) and claims (liability+equity) 2. based on accounting equation Statement of Earnings (Income Statement) - operating performance over period of time - Revenues and expenses Statement of Cash Flows - flows of cash over time - Shows operating, inv...
What are the causes of the "death spiral"?Normal Absorption costing What is included in variable costingDirect Material, Direct Labor and Variable M.O.H Remaining Problems of using Practical capacityIt still doesn't tell us: Why we have excess capacity, how to determine the right level of e...
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Add to cartWhat are the causes of the "death spiral"?Normal Absorption costing What is included in variable costingDirect Material, Direct Labor and Variable M.O.H Remaining Problems of using Practical capacityIt still doesn't tell us: Why we have excess capacity, how to determine the right level of e...
Management (or managerial) accounting The branch of accounting that uses both historical and estimated data in providing information that management uses in conducting daily operations, in planning future operations, and in developing overall business strategies. Cost A payment of cash (or a ...
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Add to cartManagement (or managerial) accounting The branch of accounting that uses both historical and estimated data in providing information that management uses in conducting daily operations, in planning future operations, and in developing overall business strategies. Cost A payment of cash (or a ...
which of the following types of companies would have work in process inventory? Service, Merchandising, and Manufacturing Manufacturing Which of the following is not an activity in the value chain? Administration A cost that can be traced to a cost object is known as an Direct costs Period cost...
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Add to cartwhich of the following types of companies would have work in process inventory? Service, Merchandising, and Manufacturing Manufacturing Which of the following is not an activity in the value chain? Administration A cost that can be traced to a cost object is known as an Direct costs Period cost...
Budgets are used by individual, staffs, managers department Management accounting place more emphasis on which of the following future activities A listing of line item that the organization will use to classify its accounting info is balance sheet Compute the fixed cost? Dm 100,000 dl 150,00...
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Add to cartBudgets are used by individual, staffs, managers department Management accounting place more emphasis on which of the following future activities A listing of line item that the organization will use to classify its accounting info is balance sheet Compute the fixed cost? Dm 100,000 dl 150,00...
Controlling The process of gathering feedback to ensure that a plan is being properly executed or modified as circumstances change. Financial Accounting vs Managerial Accounting (time focus) FA= focuses on the past MA= focuses on the future Performance Report A schedule that compares budgeted ...
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Add to cartControlling The process of gathering feedback to ensure that a plan is being properly executed or modified as circumstances change. Financial Accounting vs Managerial Accounting (time focus) FA= focuses on the past MA= focuses on the future Performance Report A schedule that compares budgeted ...
Managerial Accounting accounting used to provide information and analyses to managers inside the organization to assist them in decision making Managerial Accounting is for management inside a company rather than outsiders successful companies compete in one of two ways 1. product differentiatio...
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Add to cartManagerial Accounting accounting used to provide information and analyses to managers inside the organization to assist them in decision making Managerial Accounting is for management inside a company rather than outsiders successful companies compete in one of two ways 1. product differentiatio...
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