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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HOW MANAGERIAL ACCOUNTING ADDS VALUE TO ORGANIZATION 1. INTRODUCTION Management accounting provides accounting and related information to support the management of an organization in its internal decision-making. It includes product costing‚ relevant costing‚ cost-volume-profit analysis‚ capital budgeting‚ and operational‚ tactical‚ and strategic planning. A major activity included in the management accounting is the measurement of costs of processes that create value. Management accounting is
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Course: Managerial Accounting (ACCTG 4B) – Fall 2014 Lab Assignment No: 8 (Chapter 23) Assignment Due Date: 10/30/14 by 6:00AM Instructions Complete the following problems; make sure to include your calculations. Any incomplete work or partially completed will automatically receive zero points. PART I: Herron Company has budgeted the following unit sales: 2008 Units April 25‚000 May 50‚000 June 75‚000 July 45‚000 Of the units budgeted‚ 40% are sold by the Southern Division at an average
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Chapter 5: Question 3: Suppose that two units of X and eight units of Y give a consumer the same utility as four units of X and two units of Y. Over this range: a. If the consumer obtains one more unit of X‚ how many units of Y must be given up in order to keep utility constant ∆Y∆X=2-84-2= - 62= -3 ~ Utility unchanged‚ if consumer exchanges 3 units of Y for 1 unit of X. b. If the consumer obtains one more unit of Y‚ how many units of X must be given up in order to keep
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Analysis of Wal-Mart Managerial Accounting Process Table of Contents Company Description of Wal-Mart Page 3 Budgeting Process Page 3 Management Accounting System Page 4 Costing System Page 5 Capital Decision Making Process Page 6 Capital Structure Page 6 Project Conclusion Page 7 Information Sources and Methodology Page 8 References Page 8 Company Description For the final project of managing finance Wal-Mart Stores
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Read the case study of Yankee Fork and Hoe Company on page 502-503. Answer TWO questions on page 502 regarding this case (at least 100 words each). 1. Comment on the forecasting system being used by Yankee. Suggest changes or improvements that you believe are justified. Forecasting is a critical component of balancing supply in order to meet customer needs while ensuring costs are kept low. Without proper forecasting‚ companies can see a direct hit to their bottom line. For example‚ too little
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The Rise of a Mass Democracy The Corrupt Bargain of 1824 • Four people were to be in the election of 1824. Jackson‚ Adams‚ Clay‚ and Crawford. • Clay was not picked but he voted for Adams because they made a deal that if Adams president Clay would be secretary of state. A Yankee Misfit in the White House • Adams was a strong nationalist he wasn’t against the idea of building roads and canals. Going “ Whole Hog” for Jackson in 1828 • two parties were created before the
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The rise of the West from the fifteenth and eighteenth centuries involved distant explorations and conquests resulting in a heightening and redefining of relationships among world societies. During the classical era‚ larger regional economies and culture zones had developed‚ as in the Chinese Middle Kingdom and the Mediterranean basin‚ but international exchanges were not of fundamental importance to the societies involved. During the postclassical period‚ contacts increased and were more significant
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-3‚2... "It’s off!" Shelrock shouted. "I...turned it off." he breathed out taking a few steps back. He ran his hands through his hair and inhaled deeply. (Y/N) let out a sob that was more out of relief and a little bit out of grief for her dead sister to be honest. "So‚ we’re safe? We’re- we’re okay? Sweet Jesus‚ I-" John stuttered feeling his knees shaking. Betrayed by his own legs‚ he stumbled backwards and rested his whole body on the wall beside Victoria’s painting‚ taking a good look at the
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Cost Accounting - Chapter 1 1. Flexibility is said to be the hallmark of modern management accounting‚ whereas standardization and consistency describe financial accounting. Explain why the focus of those two accounting systems differs. Financial accounting is more about the bigger picture—it evaluates the finances of the organization as a whole‚ using historical‚ quantitative‚ monetary‚ and factual data. It is more formal and requires the use of GAAP. The information financial accounting
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