Question

VOCAB

Ability of a system to operate so that it can continue indefinitely Oversees the internal audit function and the annual audit of the financial statements Evaluating the results of business operations against the plan and making adjustments Often led by management accountants since the financial impact is the driving force in almost all business decisions Social, economic, environmental Business strategy for eliminating waste Elected by stockholders to oversee the company Hires other executives to run various aspects of the organization Employs the most people, except for the government Enacted to restore trust in publicly traded companies’ management, financial statements and auditors Manager’s 3 primary responsibilities Overseeing day-to-day operations Provides internal managers with accounting information Setting goals for the company and determining how to achieve them Treasurer and controller report to this position Ensures that internal controls and risk management policies are functioning Produces statements that will be used by investors and creditors

1. Planning, directing and controlling 2. planning 3. directing 4. controlling 5. financial accounting 6. managerial accounting 7. board of directors 8. CEO 9. CFO 10. Internal audit function 11. audit committee 12. cross-functional team 13. Service sector 14. Lean thinking 15. Sustainability 16. Pillars of sustainability 17. Sarbanes Oxley Act of 2002

Answer 1

Ans-

Oversees the internal audit function and the annual audit of the financial statements	11-Audit Committee
		Evaluating the results of business operations against the plan and making adjustments	4-Controlling
		Often led by management accountants since the financial impact is the driving force in almost all business decisions	Sarbanes Oxley Act of 2002
		Social, economic, environmental	Pillars of sustainability
		Business strategy for eliminating waste	Lean thinking
		Elected by stockholders to oversee the company	7-Board of Directors
		Hires other executives to run various aspects of the organization	8-CEO
		Employs the most people, except for the government	cross-functional team
		Enacted to restore trust in publicly traded companies’ management, financial statements and auditors
		Manager’s 3 primary responsibilities	1-Planning, Directing and Controlling
		Overseeing day-to-day operations	3-Directing
		Provides internal managers with accounting information	6-management accounting
		Setting goals for the company and determining how to achieve them	2-Planning
		Treasurer and controller report to this position	9-CFO
		Ensures that internal controls and risk management policies are functioning	10-Internal audit function
		Produces statements that will be used by investors and creditors