Homework Answers
Answer: b. To meet the needs of decision makers within the firm
---
Hope you understood.
Add Answer to:
Managerial accounting reports are prepared: Oa. to provide creditors with information useful in making credit decisions....
Which of the following is not a characteristic of useful managerial accounting reports? Oa. GAAP-adhering Ob...
Which of the following is not a characteristic of useful managerial accounting reports? Oa. GAAP-adhering Ob accurate Oc. prepared as needed Od. historical and estimated data
In the context of managerial accounting, relevant information is information that will make a difference in...
In the context of managerial accounting, relevant information is information that will make a difference in the decision. is information that has been provided by the controller. must be provided in quantitative terms. must be reviewed by the chief financial officer before being provided to managers. Good managerial accounting information helps creditors decide on good credit risks. managers to do their jobs. stockholders make informed investment decisions. creditors assess liquidity. Which of the following is a characteristic of managerial accounting...
The primary purpose of managerial accounting is to provide information useful for management decisions. Many of...
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...
Which of the following is a major subsystem of the cost accounting information system? Oa. ERP...
Which of the following is a major subsystem of the cost accounting information system? Oa. ERP Ob. EDI Oc. Operational control information system Od. OLAP C Which of the following is a cost management subsystem designed to assign costs to individual products and services and other objects, as specified by management? Oa, cost accounting information system Ob, financial accounting information system Oc operational control information system Od. All of these choices are correct. In a company that supplies muffins to...
How often should managerial accounting reports be prepared? O A. Quarterly OB. Monthly OC. Annually OD....
How often should managerial accounting reports be prepared? O A. Quarterly OB. Monthly OC. Annually OD. As often as necessary Click to select your answer.
Indicate whether the following statements describe financial accounting or managerial accounting.
Take me to the textIndicate whether the following statements describe financial accounting or managerial accounting.Largely based on forecasting future sales and cash flows, calculating costs and preparing budgets.is concerned with collecting data of historical nature.Reports are very detailed and provide a wealth of information.Must follow Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) set by professional bodies.Primarily prepared for external users such as creditors and stockholders so that they can make sound financial or investment decisions.Does not...
Managerial Internal (Inside) accounting information reports are generally prepared for A) Stockholders or Shareholders B) Creditors,...
Managerial Internal (Inside) accounting information reports are generally prepared for A) Stockholders or Shareholders B) Creditors, Lenders, or Banks C) Managers. D) Regulatory Agencies, like the IRS or SEC Which of the following is NOT an Internal User of the Financial Statements? A) Creditor or Lender or Bank B) Department Manager C) Controller D) Treasurer The work labor of Factory workers that can be physically and directly and conveniently associated with making Raw Materials (RM) into Finished Goods (FG) is...
Scenario: Accounting information provides useful information about business transactions. Those who provide and use financial reports...
Scenario: Accounting information provides useful information about business transactions. Those who provide and use financial reports must often select and evaluate accounting alternatives. The FASB statement on qualitative characteristics of accounting information examines the characteristics of accounting information that make it useful for decision-making. It also points out that various limitations inherent in the measurement and reporting process may necessitate trade-offs or sacrifices among characteristics of useful information. Task: In the discussion, explain both characteristics, and give an example of...
As mentioned in Exhibit P-1 of our textbook, managerial accounting helps managers perform three vital activities...
As mentioned in Exhibit P-1 of our textbook, managerial
accounting helps managers perform three vital activities -
planning, controlling, and decision making. Write a brief 2-3 page
paper about your employer or a favorite business you personally
visit or are a patron (Starbucks, Netflix, Planet Fitness, etc.)
and discuss the risks they face in their industry that can
influence their planning, controlling, and decision-making
activities.
Include specific examples of threats for all three areas and
make suggestions for how they...
Here are some fundamental and enhancing qualitative characteristics of useful financial information:
Here are some fundamental and enhancing qualitative characteristics of useful financial information:1. Comparability2. Completeness3. Confirmatory value4. Faithful representation5. Freedom from error6. Materiality7. Neutrality8. Predictive value9. Relevance10. Timeliness11. Understandability12. VerifiabilityMatch each characteristic to one of the following statements.(a)- Accounting information cannot be selected, prepared, or presented to favor one set of interested users over another.(b)- Accounting information must be available to decision makers before it loses its ability to influence their decisions.(c)- Accounting information is prepared on the assumption that users...
Which of the following is not a characteristic of useful managerial accounting reports? Oa. GAAP-adhering Ob accurate Oc. prepared as needed Od. historical and estimated data
Which of the following is a major subsystem of the cost accounting information system? Oa. ERP Ob. EDI Oc. Operational control information system Od. OLAP C Which of the following is a cost management subsystem designed to assign costs to individual products and services and other objects, as specified by management? Oa, cost accounting information system Ob, financial accounting information system Oc operational control information system Od. All of these choices are correct. In a company that supplies muffins to...
How often should managerial accounting reports be prepared? O A. Quarterly OB. Monthly OC. Annually OD. As often as necessary Click to select your answer.
Take me to the textIndicate whether the following statements describe financial accounting or managerial accounting.Largely based on forecasting future sales and cash flows, calculating costs and preparing budgets.is concerned with collecting data of historical nature.Reports are very detailed and provide a wealth of information.Must follow Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) set by professional bodies.Primarily prepared for external users such as creditors and stockholders so that they can make sound financial or investment decisions.Does not...
As mentioned in Exhibit P-1 of our textbook, managerial
accounting helps managers perform three vital activities -
planning, controlling, and decision making. Write a brief 2-3 page
paper about your employer or a favorite business you personally
visit or are a patron (Starbucks, Netflix, Planet Fitness, etc.)
and discuss the risks they face in their industry that can
influence their planning, controlling, and decision-making
activities.
Include specific examples of threats for all three areas and
make suggestions for how they...
Most questions answered within 3 hours.
-
Break-even time. Hampton Corporation’s research
and development department is presenting a proposal for new product
research....
asked 1 minute ago -
At Lake Itasca in Minnesota, the Mississippi river is only 25.0
feet wide. If you are...
asked 2 minutes ago -
A 2.0 μF parallel-plate air-filled capacitor is connected
across a 10 V battery.
(a) Determine the...
asked 13 minutes ago -
Write in Python This program:
1. Correct the compute_cells_state function which receives as
parameter an array...
asked 3 minutes ago -
1. What is the difference in the output layer between a neural
network used for classification,...
asked 10 minutes ago -
ECO
2013 &
asked 17 minutes ago -
Insight refers to:
a.
Adaptive decision-making
b.
Credibility and trustworthness
c.
Understanding of one's problems
d....
asked 23 minutes ago -
Explain the differences between rights and permissions within
Windows. Define the principle of least privilege and...
asked 31 minutes ago -
A solid, frictionless cylindrical reel of mass M=5.00kg and
radius R=0.55m is used to draw water...
asked 33 minutes ago -
how do radio waves get emitted from Jupiter?
- do they come from radiation from planet...
asked 34 minutes ago -
The test statistic used in the F test for the equality of two
variances is calculated...
asked 45 minutes ago -
How does neutralisation of IL-6 trans-signaling affect the
autoimmune disease and inflammation? What if the trans-signaling...
asked 35 minutes ago