CHAPTER 1 MANAGERIAL ACCOUNTING‚ TYPES AND ETHICS. 1) Managerial Accounting: Firms internal accounting system and designed to support the information needs of managers in order to make decisions. Not bound by GAAP. a) Managerial accounting has 3 objectives: i) To provide information for planning organization actions ii) To provide information for controlling organization actions. iii) To provide information for making effective decisions. b) Reports that help mangers that are nonfinancial are:
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CHAPTER 1 INTRODUCTION TO COST ACCOUNTING QUESTIONS 1. Management accounting stresses the informational needs of internal users over those of external users (the focus of financial accounting). Because of this perspective‚ management accounting provides information in a format that is flexible and relevant to a particular manager‟s usage. Financial accounting‚ on the other hand‚ must provide some uniformity in the manner in which information is presented for it to be comparable among companies and
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Chapter 7 Study Questions 1. What is meant by the term service breakdown? a. the product or service selivered fails to meet customers expectations 2. What causes customers to become dissatisfied? a. when a product or service fails to meet the customers wants or need or does not live up to advertised promises or standards. 3. What can you use to deal with angry customers? a. be positive b. acknowledge the customer’s feeling or anger c. reassure d. remain objective
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Chapter 7 Risk and Return Recap - Expected Return and Standard Deviation for single asset and 2-asset Portfolio Probability Return(A) Return(B) Good 0.3 - 0.05 -0.10 OK 0.4 0.10 0.15 Poor 0.3 0.20 Portfolio 0.30 E(R) 8.5% Covariance 0.014177 15.68% 11.91% 0.0153 Corr. 0.0246 9.76% S.D. 10.25% 0.009525 Variance 12% 0.99 EQ 7.2 Expected Return: E(RA) = (0.3) (‐0.05) + (0.4) (0.10) + (0.3) (0
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relationships Question 2 Correct Mark 1.00 out of 1.00 Not flaggedFlag question Question text Which of the following is an example of an asset? Select one: a. a projected salary increase b. a piece of property Correct c. a person’s human capital d. a person ’s social capital Feedback The correct answer is: a piece of property Question 3 Correct Mark 1.00 out of 1.00 FlaggedRemove flag Question text Adam Ferguson and John Millar argued that inequality was _____. Select one: a. the natural
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CHAPTER 7 FLEXIBLE BUDGETS‚ DIRECT-COST VARIANCES‚ AND MANAGEMENT CONTROL 7-1 Management by exception is the practice of concentrating on areas not operating as expected and giving less attention to areas operating as expected. Variance analysis helps managers identify areas not operating as expected. The larger the variance‚ the more likely an area is not operating as expected. 2. Two sources of information about budgeted amounts are (a) past amounts and (b) detailed engineering studies
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First of all‚ I’m a big fan of the original two‚ maybe three Friday the 13th films. Four was alright. Then they started getting ridiculous. Anyway‚ last night Dan had rented me the new Friday the 13th and now I should be on a hunt for Michael Bay’s head with a hockey mask and a machete. This movie did not carry a subtitle‚ which‚ in movie terms‚ implies a remake‚ i.e.‚ the recent remake of Halloween by Rob Zombie. That was a okay film‚ by the way‚ by comparison. Rob Zombie gave the fans of the
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Horngren‚ C.T.‚ Datar‚ S.M. and Foster‚ G. (2003) Cost Accounting - A Managerial Emphasis‚ Pearson Education‚ Inc.‚ New Jersey‚ Eleventh Edition CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION 11-1 The five steps in the decision process outlined in Exhibit 11-1 of the text are: 1. 2. 3. 4. 5. Obtain information Make predictions about future costs Choose an alternative Implement the decision Evaluate performance to provide feedback 11-2 Relevant costs are expected future costs that differ
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Summary: Chapter 7 of Macionis and Plummer (2013) focuses on the idea of human societies through interactions of everyday life through the term ‘micro-society’. Building our social world is an important part where individuals participate in the interaction with others to form a ‘social construction of reality’‚ consequently‚ relying on social experiences to learn from their adopting behaviours of their cultures. John. B. Watson believed that our behaviour is shaped by our responses to the
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A reporter who had previously interviewed Gatsby before the information about his early life was known‚ headed to New York in anticipation of interviewing him again. The truth is Gatsby was born James Gatz in North Dakota on a farm. He attended St. Olaf’s in Minnesota while working as a janitor to pay his tuition‚ but dropped out after only two weeks. The next summer while he worked on Lake Superior digging for clams and fishing for salmon‚ he spotted a yacht owned by Dan Cody‚ who was a wealthy
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