The purposes of managerial accounting are to provide useful information to aid in:
reviewing post activities.
determining costs of products and services.
determining costs of employee wages and salaries.
comparing actual to planned results.
The purpose of managerial accounting is to provide useful information to aid in three key tasks: Determining the costs of organisation's products and services, planning future activities and comparing actual to planned results.
Option (b) is correct. Managerial accounting determines the costs for product pricing, profitability analysis and whether to make or buy a product.
Option (d) is correct. Managerial accounting provides information to compare actual to planned results.
Option (a) is incorrect. Managerial accounting helps in planning future activities not reviewing past activities.
Option (c) is incorrect. Managerial accounting do not help in determining costs of employee wages and salaries.
The purposes of managerial accounting are to provide useful information to aid in:
Managerial accounting reports are prepared: Oa. to provide creditors with information useful in making credit decisions. Ob. to meet the needs of decision makers within the firm. Oc. to present historical information. Od. All of these choices are correct.
The primary purpose of managerial accounting is to provide information useful for management decisions. Many of the managerial accounting techniques that you learn in this course will be useful for decisions you make in your everyday life. After you graduate, one of the next important decisions you'll have to make is where to work. Instructions Suppose that you go for job interviews and are given an offer of employment by two competing firms for the same entry-level position. They are...
ER SS 11. All of the following are examples of managerial accounting information excepr: a budget versus actual reports. b. monthly income statement for each store, c. monthly analysis of product profitability. d. annual balance sheet prepared in accordance with U.S. GAAP. e. None of the above. NOT A 12. When comparing the characteristics of financial and managerial accounting, which of the following is a focus of managerial accounting? a. Making future projections for geographic segments of a company. b....
b. Managerial accounting is an activity that helps managers determ and services plan fut activity that helps managers determine costs of products and services, plan future activities, and compare actual to planned results True False wa 7. Costs are importa Costs are important to managers because they impact both the financial position and profitability of a business True False 8. Both financial and managerial accounting rely on accepted principles that are enforced through an extensive set of rules and guidelines...
Investors primarily use managerial accounting information for decision-making purposes. True False
3. Managerial accounting information: 4 A. Is used mainly by external users. B. Can be used for control purposes but not for planning purposes. C. Involves gathering information about costs for planning and control decisibns. D. Is generally the only accounting information available to managers. E. Has little to do with controlling costs.
The primary goal of managerial accounting is to provide information to a. external auditors b. management c. creditors d. investors
Managerial accounting develops reports that help internal parties effectively and efficiently run the company. O True False Question 2 1 pts The primary goal of financial accounting is to provide information to O All of these. O creditors. government regulators. potential investors 1 pts Evaluating operations by comparing actual results to budgeted results is a part of the controlling responsibility of management. True False 1 pts Question 4 Under the IMA Statement of Ethical Professional Practice, an IMA member should...
Provide information regarding users of managerial accounting and financial accounting. Discuss how each user can utilize this information. Explain if you feel there are advantages or disadvantages of utilizing the different areas of accounting. Explain how learning about the different areas of accounting have enlightened your perception of pursuing employment in the accounting field.
a. Which of the following statements about managerial accounting is true? 1) Managerial accounting information is prepared for external users. 2) Managerial accounting information is a legal requirement. 3) The structure of managerial accounting practice is relatively flexible. 4) There are structured standards of acceptability for managerial accounting. b. Which of the following statements is incorrect with regard to a manufacturing firm? 1) Inventoriable costs include only prime costs. 2) Inventoriable costs include prime costs and manufacturing overhead costs. 3)...