Managerial Accounting Study Guide Chapter 2 Differences between financial and managerial accounting Managerial accounting provides information to managers‚ the people inside the organization who direct and control its operations. Financial accounting provides information to stockholders‚ creditors‚ and others who are outside the organization. Managerial accounting = inside the organization Financial accounting = outside the organization Exhibit 2-2 Comparison of Financial and Managerial Accounting
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of all three business organizations described in the case studies for this session? Business Reasons Behind Sourcing Decision Southwest Bank - outsourcing IT is a key enabler of the bank’s operational and management activities Expansion business into the Southwestern United State‚ Mexico and Latin American countries. Southwest is not able to run of a successful IT services organization Need outsourced IT organization to do hardware and software upgrades in order to support business growth Reliable
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table as she waved at me. I sat down‚ exchanged salutations and began the interview. Alicia is a 23 year Caucasian woman that was born without any disabilities. For most of her life she was a temporarily able-bodied person‚ just like me‚ with the mentality that nothing tragic could happen to her. She went on to explain how and when her mentality changed. She began‚ “It was a beautiful spring day….May 23‚ 2007. We were riding to his parents’ house for a family dinner when it happened….The driver did
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Chapter 01 Managerial Accounting and Cost Concepts Answer Key True / False Questions 1. Managerial accounting is primarily concerned with the organization as a whole rather than with segments of the organization. FALSE AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting Bloom’s: Knowledge Learning Objective: 1 Level: Easy 2. Managerial accounting places less emphasis on nonmonetary data than financial accounting. FALSE AACSB: Reflective Thinking AICPA
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EC 4350 11 September 2012 Reading Journal #2 23 Things They Don’t Tell You About Capitalism Chapter 2 What they tell us: Shareholders are not guaranteed any fixed payments. What they don’t tell us: Shareholders really only care about the short-term profits instead of long-term investments which in turn reduces the growth of the firm in the long-term.” …the L word‚ that is limited liability‚ is what has made modern capitalism possible.” (12) -Karl Marx defends capitalism Adam Smith was against
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Thinking: The mind of a marketing genius Thinking: The mind of a marketing genius * Where are the best opportunities for your business today? How do you stand out in crowded markets? How do you deliver the best solutions for customers‚ and the best returns to shareholders? * Where should you focus amidst this complexity? What is your competitive advantage? Which markets‚ brands‚ products and customers should you prioritize in order to maximize value creation?
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Case Report : Kristen’s Cookie Company (A1) [pic] Key Questions 1. To know the time it will take us to fill a rush order‚ we have to know how many dozens the rush order requires. If it is only one dozen‚ we need 6 minutes for the washing and mixing steps‚ 2 minutes for the spooning‚ 10 minutes for the whole baking‚ 5 minutes to cooling down‚ 2 minutes for the packing and 1 minute for the payment. That is to say : 26 minutes. If we consider the order requires N dozens : we always need
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When a business or an organization take a turn for the worse‚ some believe that there is no turning back. I believe in possibilities; even when the door and or window are completely shut. “Where there is a will‚ there is a way.” In order to bring life back into the business‚ passion and love must be present by the CEO. The CEO has to be passionate about the business as well as love it. These two elements have to be unconditional; therefore when business is at its lowest‚ passion and love can
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Managerial Accounting‚ 3e (Braun/Tietz) Chapter 2 Building Blocks of Managerial Accounting 1) Service companies must carry a large amount of inventory to meet consumer demand. Answer: FALSE Diff: 1 LO: 2-1 EOC: E2-1 AACSB: Reflective Thinking Learning Outcome: Define and use cost-volume-profit analysis to analyze the effects of changes in costs and volume on a company’s profits 2) Manufacturing companies usually have three types of inventory. Answer: TRUE Diff: 1 LO: 2-1
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noon to three o’clock in the afternoon. It was a painful torture to Jesus but he was quiet for most of the time. It was until the last hour he cried out a lord voice saying‚ “My God‚ my god why have you forsaken me!” It was a heartfelt moving prayer. This was Jesus’ lament and was a plea. Jesus was under stress and pain. He had an intimacy relationship with the Father for a long time. At this critical moment in life‚ he was left alone in his humanity to experience the sense of divine abandonment
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