Atkinson Management Accounting 6e

this is about managerial accounting course
of 22
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Related Documents
   Management Accounting, 6e  (Atkinson et al.)Chapter 1 How Management Accounting Information Supports Decision Making Objective 11) Management accounting is subject to the rules formulated by standard setters such as the Financial Accounting Standards Board (FASB).Anser! FA S##$%lanation! Financial accounting is subject to the rules of the FASB.&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing+) Management accounting information is %rimarily oriented to e$ternal sta*eholders, such as investors, creditors, regulators, and ta$ authorities.Anser! FA S##$%lanation! Management accounting information is %rimarily oriented to management.&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing-) 'he nternational Accounting Standards Board sets the guidelines used for management accounting.Anser! FA S##$%lanation! Financial accounting must be consistent ith the rules of the ASB.&iff! 1'erms! nternational Accounting Standards BoardObjective! 1AASB! eflective thin*ing/) A good management accounting system can become a source of com%etitive advantage for a com%any.Anser! '0#&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing) Management accounting information is sometimes %redictive and forard loo*ing.Anser! '0#&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing 1  2) Management accounting has no %rescribed rules about its content, ho the content is to be develo%ed, and ho the content is to be %resented.Anser! '0#&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing3) 'he Federal Accounting Standards Advisory Board sets cost accounting standards for all federal government activities.Anser! '0#&iff! +'erms! 4overnment Accounting Standards BoardObjective! 1AASB! eflective thin*ing5) Management accounting measures can %rovide advance arnings of %roblems.Anser! '0#&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing6) nformation about customer satisfaction is an e$am%le of financial information.Anser! FA S##$%lanation! nformation about customer satisfaction is an e$am%le of nonfinancial information.&iff! 1'erms! nonfinancial informationObjective! 1AASB! eflective thin*ing17) Management accounting information can be used for all of the folloing #8#9'!A) calculate the cost of a %roduct or service.B) evaluate the %erformance of a com%any.) %roject materials needs.&) evaluate the mar*et %rice of the stoc*.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing +  11) :hich of the folloing ty%es of information are used in management accounting; A) financial informationB) nonfinancial information) information focused on the long term&) All of the above are correct.Anser! &&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing1+) Management accounting!A) is both retros%ective, %roviding feedbac* about %ast o%erations, and also %ros%ective, incor%orating forecasts and estimates about future events.B) is %rimarily oriented to e$ternal sta*eholders.) must be consistent ith rules formulated by the Financial Accounting Standards Board (FASB).&) %rovides information that is generally available only on a <uarterly or annual basis.Anser! A&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing1-) :hich of the folloing descri%tors refer to management accounting information;A) t is only retros%ective, re%orting and summari=ing in financial terms the results of %ast decisions and transactions.B) t is driven by rules.) t is %re%ared for shareholders.&) t is oriented to meeting the decision ma*ing needs of em%loyees and managers inside the organi=ation.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing1/) :hich of the folloing ould be considered management accounting information;A) Budgeted %roduction for the year +711.B) Budgeted Balance Sheet.) Analysis of trend in stoc* %rices.&) Both budgeted %roduction for the year of +711, and the budgeted balance sheet.Anser! &&iff! 1'erms! management accountingObjective! 1AASB! eflective thin*ing -  1) Management accounting information includes all of the folloing #8#9'!A) tabulated results of customer satisfaction surveys.B) the cost of %roducing a %roduct.) the %ercentage of units %roduced that is defective.&) mar*et %rice of the stoc*.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing12) Management accounting re%orts might include information about!A) customer com%laints.B) net income for the year on budgeted income statement.) total assets on budgeted balance sheet.&) All of the above are correct.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing13) 'he %erson MOS' li*ely to use management accounting information is a(n)!A) ban*er evaluating a credit a%%lication.B) shareholder evaluating a stoc* investment.) governmental ta$ing authority.&) assembly de%artment su%ervisor.Anser! &&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing15) :hich of the folloing is >O' a function of a management accounting system;A) strategic develo%mentB) financial re%orting) control&) %roduct costingAnser! B&iff! +'erms! management accountingObjective! 1AASB! eflective thin*ing /
Related Search
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks