chapter 1 and 2 managerial accounting garrison Questions and Correct Answers | Latest Update
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Course
Managerial accounting
Institution
Managerial Accounting
Financial Accounting
→ -:- concerned with reporting financial information to external parties (stockholders,
creditors, and regulators).
Managerial Accounting
→ -:- concerned with providing information to managers for use within the organization.
Budget
→ -:- Detailed plan for the futu...
Best Grades | Must Pass | Latest Update | Correct Answers | 2024/2025
chapter 1 and 2 managerial accounting
garrison Questions and Correct Answers |
Latest Update
Financial Accounting
→ -:- concerned with reporting financial information to external parties (stockholders,
creditors, and regulators).
Managerial Accounting
→ -:- concerned with providing information to managers for use within the organization.
Budget
→ -:- Detailed plan for the future that is usually expressed in formal quantitative terms
Performance Report
→ -:- compares budget data to actual data in an effort to identify and learn from
excellent performance and to identify and eliminate sources of unsatisfactory
performance
Strategy
→ -:- a "game plan" that enables a company to attract customers by distinguishing itself
from competitors.
Corporate social Responsibility (CSR)
→ -:- A concept whereby organizations consider the needs of all stakeholders when
making decisions such as the environment and the community around the business
Business Process
~ 1 ~ for inquiry mail me @ supergrades12@gmail.com
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/2025
→ -:- a series of steps that are followed in order to carry out some tasks in a business
Value train
→ -:- consists of the major business functions that add value to a company's products and
services.
Lean Production
→ -:- a management approach that organizes resources such as people and machines
around the flow of business processes and that only produces units in response to
customer orders
Segment
→ -:- activity of an organization about which managers would like cost, revenue, or
profit data
Planning
→ -:- The process of establishing goals and specifying how to achieve them
Enterprise Risk Management
→ -:- A process used by a company to identify its risks and develop responses to them
that enable it to be reasonably assured of meeting its goals
Controlling
→ -:- The process of gathering feedback to ensure that a plan is being properly
executed or modified as circumstances change
Account analysis
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