D196 principles - Study guides, Class notes & Summaries

bookkeeping - ANS day to day keeping of transactions steps of decision making - ANS identify issue gather information identify alternatives select option that most likely results in desired objective accounting - ANS analysis of events record and report financial effects of business activities where does capital come from (3) - ANS investors creditors(lenders) business itself (from earnings retained) 2 main types of accounting - ANS financial and managerial manager...

Accounting System Used by business to: 1. Analyze transactions 2. Handle routine bookkeeping tasks 3. Use the information to evaluate business performance Analysis/Bookkeeping/Evaluation Accounting Quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions Decision-Making Process Business An organization operated with the objective of making a profit from the sale of goods or services Nonprofit Organi...

D196 Principles of Financial and Managerial Accounting study Guide.

2. Why might employees be interested in their company's financial accounting information? Financial statement data are often used in determining employee bonuses. 3. Which group establishes financial accounting rules in the United States? Financial Accounting Standards Board (FASB) 4. Which report is one of the three primary financial statements? Statement of cash flows 5. A company paid $5,000 cash in advertising costs. Assets decrease by $5,000; expenses increase by $5,000. 6. ...

WGU –D196 Principles of Financial and Managerial Accounting the production budget Sales budget + ending finished goods inventory - beginning finished goods inventory direct materials production budget Production budget × direct materials per unit the direct materials purchases budget Direct materials production budget + ending direct materials inventory - beginning direct materials inventory Cash collected from customers (current period revenue × current period collect...

WGU D196- Principles of Financial and Managerial Accounting COMPLETE EXAM REVIEW 2023 COURSE REQUIREMENT bookkeeping - day to day keeping of transcations steps of decision making - identify issue gather information identify alternatives select option that most likely results in desired objective accounting - analysis of events record and report financial effects of business activities where does capital come from (3) - investors creditors(lenders) business itself (from earnings...

What is an example of direct materials? Cost of robotic equipment in making automobiles Cost of sandpaper in making wood furniture Cost of saws and hammers in constructing a house Cost of aluminum in making an airplane - correct answer Cost of aluminum in making an airplane What is the effect of a company's accounting department maintaining high ethical standards? The company can hire fewer accountants to do the same amount of work. The company can report more favorable results in its ...