Exam 1: Introduction to Cost Management

Factors that have led to a global market for manufacturing and service firms are

All of the following would be considered staff functions EXCEPT the

Which of the following activities is associated with the cost management information system?

Extending the close of the fiscal year beyond December 31 so that some sales of next year are included in the current year would be a violation of which standard of ethical conduct for management accountants?

The cost management information system has two major subsystems: the cost accounting information system and the operational control information system.

Employee and customer loyalty are NOT a result of strong codes of ethics.

Principles of personal ethical behavior include

Firms subject to the Sarbanes-Oxley Act of 2002 do not have to disclose whether they have a code of ethics for senior financial officers, nor why.

You are a management accountant for Savage Corporation. Gabe Hopen, the sales representative for one of Savage suppliers, invited you to attend a professional sporting event. Because you are an avid sports fan, you accepted Gabe's invitation. At the sporting event, Gabe begins talking about Savage's upcoming contract renewals with suppliers. Because there is intense competition and because it is the first bid he will submit to Savage Corporation, he asks you to review his bid to make sure "it is good enough" before he submits it to the company. In addition, because you are knowledgeable about costs, especially regarding this contract, he asks you to tell him if his bid is "in the ballpark" or "needs improvement." he indicates that if he wins the contract, you will be provided with season tickets for the rest of the year. Considering the Standards of Ethical Conduct for Management Accountants, how would you respond to Gabe's request?

What is the difference between a staff position and a line position?

Any form of commerce that is executed using information and communications technology is called:

Today's cost managers must assemble cost information and determine how to value things. Which methods would NOT be critical to achieving this?

Preparing reports for division managers is an activity associated with the cost management information system.

The Controller of a company supervises all the accounting departments and is often viewed as a member of the top management team.

Changes in the way business is conducted worldwide have broadened the focus of cost management accounting systems.

In a company, engineers have redesigned production processes lowering production costs, shortening production cycle time, reducing waste and improving quality. Which type of managerial activity applies to this situation?

Which of the following decreases the non-value added time of producing a product and in turn increases the quality of the product?

The _____ system is an integrated system capable of providing access to real-time data from the various functional areas of a company.

Which of the following certifications require a candidate to pass a qualifying examination in Financial Planning, Performance, and Control and Financial Decision Making?

The standards of ethical conduct for management accountants include competence, confidentiality, integrity, resolution of ethical conflict, and _________.