Exam 1: Introduction to Managerial Accounting

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To promote ethical behavior by managers and employees,organizations commonly establish a__________________________.

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Activity-based costing is a less detailed approach to determining the cost of goods and services than traditional cost accounting.

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__________________________________________ is a management philosophy in which manufacturers strive to create an environment that will enable workers to manufacture perfect (zero-defect)products.

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________________________ involves choosing actions that are right,proper,and just.

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Which of the following areas is not emphasized on the CMA examination?

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Activity-based costing

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Financial accounting

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The value chain is the set of activities required to design,develop,produce,market,and deliver products and service to customers.

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Developing a company strategy for responding to anticipated new markets is an example of

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List the different types of certifications that can be obtained by an accountant.

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The managerial accounting system produces information for __________ users.

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Persons in the United States who provide assurance service are designated as

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Investigating production variances and adjusting the production process is an example of

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__________________________ organizes costs according to the value chain and collects both financial and nonfinancial information.

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Virtually all managerial accounting practices were developed to assist managers in maximizing profits.

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Which of the following would normally occupy a staff position?

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The detailed formulation of action to achieve a particular end is the management activity called_____________.

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_____________________________ is the continual search for ways to increase the overall efficiency and productivity of activities by reducing waste,increasing quality and managing costs.

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Describe the major differences between managerial accounting and financial accounting. Managerial accounting: Internally focused No mandatory rules Financial and nonfinancial information; subjective information possible Emphasis on the future Internal evaluation and decisions based on very detailed information Broad,multidisciplinary

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Accountants that have a Certificate in Public Accounting (CPA):

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