Acct 551 - Study guides, Class notes & Summaries

ACCT 551 Accounting for Managers: Questions With Answers | Latest Update 2023/2024 | Graded A+. Financial accounting information is least useful in providing Select one: A. information for stating corporate wide goals. B. periodic reports for shareholders. C. aggregate information about an organization's assets, obligations and performance. • D. information for internal decision makers, s/ Rationale: Financial accounting, which is concerned primarily with the information needs of a br...

ACCT 551 Accounting for Managers: Questions With Answers 2023/2024 | 100% Correct. Which of the following is not a component of strategic cost management? Correct Select one: Points out of 1.00 A. Strategic position analysis B. Value chain analysis C. Cost driver analysis D. Ratio analysis The correct answer is: Ratio analysis Support Question 6 Correct Points out of 1.00 Managerial accounting must conform to which of the following standards? Select one: A. Generally Accepted Acco...

ACCT 551 Accounting for Managers: Questions With Answers 2023 - 2024. Managerial accounting is primarily focused on Select one: A. providing creditors information on the status of their loans. B. providing investors with useful information for valuing securities. • C. providing managers with relevant information to help achieve organizational goals. ' D. providing the Internal Revenue Service with information to determine the amount of taxes owed. Rationale: As the name implies, mana...

Which of the following phrases is primarily relevant to managerial accounting as Correct opposed to financial accounting? Points out of 1.00 Select one: A. Helping managers make decisions B. Preparing periodic financial statements C. Calculating earnings per share for shareholders D. Summarizing information about past events Support The correct answer is: Helping managers make decisions Question 12 Correct Points out of 1.00 Which of the following phrases is primarily relevant to fi...

The primary reason for an audit by an independent, external audit firm is to: A. Satisfy governmental regulatory requirements. B. Guarantee that there are no misstatements in the financial statements and ensure that any fraud will be discovered. C. Relieve management of responsibility for the financial statements. D. Provide increased assurance to users as to the fairness of the financial statements. D. Provide increased assurance to users as to the fairness of the financial statements.

.According to the Interpretation of Standard 2000, the CAE has four specific management responsibilities. What are they? 1)The results of the internal audit [function's] work achieve the purpose and responsibility included in the internal audit charter; 2)The internal audit [function] conforms with the Standards; 3)The individuals who are part of the internal audit [function] demonstrate conformance with the Code of Ethics and the Standards; and 4)The internal audit activity [function]...

Behavioral and Integrity RisksCollusion, including with Third Parties Conflicts of Interest Unethical Conduct Insider Trading and Self-Dealing Operational/Financial RisksPressure to meet Earnings Targets Poor Internal Controls Lax Data/Information Security Structure Compensation Tied to Earnings/Performance Economic Downturn Creates Pressure Subtle and nondescript clues include: pt1Numbers do not add up Revenues outside core business Important documents missing Journal entries withou...

Certified Payroll Professional Exam 120 Questions with Verified Answers Form SS-8 - CORRECT ANSWER Determination of worker status for purpose of federal employment taxes and income tax withholding. Can be filled out by the business or worker. Form W-4 - CORRECT ANSWER Employees withholding allowance certificate. Documents the amount of federal tax withholding. Form SS-4 - CORRECT ANSWER Application for employer identification number. Form 8233 - CORRECT ANSWER Exemption from withhold...

Certified Payroll Professional Exam 120 Questions with Verified Answers Form SS-8 - CORRECT ANSWER Determination of worker status for purpose of federal employment taxes and income tax withholding. Can be filled out by the business or worker. Form W-4 - CORRECT ANSWER Employees withholding allowance certificate. Documents the amount of federal tax withholding. Form SS-4 - CORRECT ANSWER Application for employer identification number. Form 8233 - CORRECT ANSWER Exemption from withhold...

The primary reason for an audit by an independent, external audit firm is to: A. Satisfy governmental regulatory requirements. B. Guarantee that there are no misstatements in the financial statements and ensure that any fraud will be discovered. C. Relieve management of responsibility for the financial statements. D. Provide increased assurance to users as to the fairness of the financial statements. D. Provide increased assurance to users as to the fairness of the financial statements.