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Exam 1 - NAU ACC 256 Questions and Answers well Explained Latest 2024/2025 Update 100% Correct. CA$11.47   Add to cart
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Exam 1 - NAU ACC 256 Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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  • NAU ACC 256

Fixed costs: - Stay constant in total over a wide range of activity levels (rent, depreciation, plant insurance, plant property taxes) variable costs - Change in total in direct proportion to changes in volume (direct materials, direct labor for hourly employees) Summary of IMA Ethical Standard...

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  • August 17, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • nau acc 256

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  • NAU ACC 256
  • NAU ACC 256

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Exam 1 - NAU ACC 256
Fixed costs: - Stay constant in total over a wide range of activity levels (rent, depreciation, plant
insurance, plant property taxes)



variable costs - Change in total in direct proportion to changes in volume (direct materials, direct
labor for hourly employees)




Summary of IMA Ethical Standards: - Maintain professional Competence

Preserve Confidentiality of information

Uphold Integrity

Perform duties with Credibility




Managerial accounting focuses on: - Identifying, interpreting, analyzing, and implementing the
financial information internal management needs to run the company efficiently, effectively, and
profitably

Specifically designed to help internal management (no GAAP or audit requirements)

The future (planning) rather than the past (historical activity)



Roles within the organization: - Internal business advisors who partner with management to make
critical business decisions

Prepare data for use within a company

Work in public companies, private businesses, and government

May also be called business advisors, analysts, finance professionals, cost accountants, managerial
accountants, industrial accountants, private accountants, or corporate accountants



Identify the different types of data: - Structured data: Data that is highly organized into predefined
categories, easy to search and manipulate (company's financial data)

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