Exam 1: The Manager and Management Accounting

________ includes providing financial information for reports to managers and shareholders, and overseeing the overall operations of the accounting system.

The supply chain refers to the sequence of business functions in which customer usefulness is added to products or services.

Management accounting is playing an increasingly important role by helping managers develop and implement strategy.

A budget helps to control activities by adhering to the prescribed plan.

Discuss the cost-benefit approach guideline management accountants use to provide value in strategic decision making.

Management accounting information typically includes ________.

Which of the following statements refers to management accounting information?

IMA's overarching ethical principles include: Honesty, Fairness, Objectivity, and Responsibility.

The ________ is primarily responsible for management accounting and financial accounting.

Which of the following is true of staff management?

What competitive advantage could a company obtain from having a successful cost management program?

If there is an ethical conflict concerning your direct supervisor, you should first contact ________.

Which of the following is true of planning in decision making?

Competitive information serves as a benchmark that managers use to continuously improve their operations.

Management accountants work closely with managers in various departments to formulate strategies by providing information about the sources of competitive advantage.

The parts of the value chain associated with producing and delivering a product or service-production and distribution - are referred to as the supply chain.

The best-designed strategies and the best-developed capabilities are useless unless they are effectively executed.

To take advantage of changing market opportunities, the annual budget should be strictly enforced.

Arrangement of long-term financing is an integral part of the ________ function in an organization.

Distribution refers to promoting and selling products or services to customers or prospective customers.