Busi 601 - Study guides, Class notes & Summaries

The company got in trouble when security commission of Ontario accused many of the company officials for breaking the laws and sharing false information to the shareholders of the company in the management of around two years old issue that involves fabricating paperwork for a number of leases. The troubles began in July 2015, when the company announced it had severed relations with 45 mortgage brokers following an internal probe that indicated borrowers' income and job information had bee...

(chapter 1) Management accounting, as defined by the IMA, uses the expertise of the management accountant to: correct answers implement an organization's strategy (chapter 1) A management method in which managers and employees commit to a process of continuous improvement is best described as: correct answers business process improvement (chapter 1) Professional certifications are issued by the American Institute of Certified Public Accountants (AICPA), the Institute of Management Account...

activity analysis correct answers is used to develop a detailed description of the specific activities performed in the firm's operations. activity-based costing correct answers is used to improve the accuracy of cost analysis by improving the tracing of costs to products or to individual customers. activity-based management correct answers uses activity analysis and activity-based costing to help managers improve the value of products and services, and to increase the organizat...

cost management information correct answers consists of financial information about costs and revenues and nonfinancial information about customer retention, productivity, quality, and other key success factors for the organization. cost management correct answers is the development and use of cost management information. management accounting correct answers involves: devising planning systems. - helping formulate organizational strategy -- decision making. main focus of cost managemen...

Cost relevant to a make versus buy decision include variable manufacturing costs as well as correct answers Avoidable fixed costs employee morale and social responsibility represent two examples of correct answers qualitative decision factors Determination of the optimum short-term product mix needs to include an analysis of: correct answers production constraints In deciding whether to drop or keep a product line, all of the following are relevant to the decision EXCEPT correct answers...

(chapter 4) operations costing identifies direct materials by: correct answers job (chapter 4) costs in a job costing system can be measured using _____ costing correct answers normal, actual, standard (chapter 4) to make nonconforming goods acceptable so they can be sold in regular channels requires: correct answers rework (chapter 4) which of the following is charged as a loss to operations in the period detected? correct answers abnormal spoilage only (chapter 4) normal spoilage m...

Both financial and non-financial aspects of planned operations and project are included in a(n) _________________________ correct answers budget p.340 Financial budgets include the: correct answers budgeted balance sheet cash budget budgeted statement of cash flows capital expenditures The collection of all short term budgets is called the ______________ budget correct answers master p. 342 A direct materials usage budget includes: correct answers -budgeted production for the perio...

Passages,such as james 4:13-17, discuss business and the pursuit of profits correct answers true Which of the following statements regarding CVP analysis is true correct answers It is a short-term profit-planning tool CVP analysis with multiple products assumes that sales will continue at the same mix of products, expressed in either sales units or sales dollars. This assumption is essential , because a change in the product mix will probably change: correct answers The weighted-average co...

The key tools used by management accountants to implement strategy include: correct answers SWOT analysis and Value Chain analysis True or false: in most cases, the development of a strategy is followed directly by success correct answers false Match each phrase on the left with the appropriate concept on the right correct answers strengths and weaknesses - identified by looking inside the firm opportunities and threats - identified by looking external to the organization Critical Succ...

BUSI 601 TEST QUESTIONS AND CORRECT ANSWERS (GRADED A+) Which of the following organization supports the growth and professionalism of management accounting practice - Answers IMA Which of the following is not a contemporary technique used by the management accountant to focus on process improvement - Answers Cost management The competitive strategy of cost leadership allows a firm to outperform competitor by products or services - Answers at lower cost achieved by increasing productivity A ...