Adms - Study guides, Class notes & Summaries

4.1 -- Explain the Types of Costing Systems 3 choices when making a costing system: 1) The Cost Accumulation Method - Job Costing or Process Costing 2) The Cost Measurement Method - Actual, Normal, or Standard Costing 3) The Overhead Application Method - Volume-Based or Activity-Based Ex. a firm could choose job, normal, and activity-based. 4.2 -- Explain the Strategic Role of Costing 4.3 -- Explain the Flow of Costs in a Job Costing System 4.4 -- Expla...

Concern on the fairness of the allocation of the store managers complete salary to the bakery department. (1 mark) - Bakery manager has no control or authority on numerous costs incurred by his department and of which he is reponsible for, responsibility accounting is lacking. (1 mark) - No adeqaute performance or measurement evaluation system is in place to report the results to the department managers so that they could take corrective measures in the future, recorded costs do not accur...

ADMS 4900 Midterm Review Chapter 1 An Overview Strategic Management Analyses, decisions and actions organizations undertake to create and sustain competitive advantages. Four Key Attributes of Strategic Management: 1) directs the organization towards overall goals and objectives 2) includes multiple stakeholders in decision making 3) incorporates both short-term and long-term perspectives 4) recognizes trade-offs between efficiency and effectiveness Strategic Management Process (Not in...

ADMS 2200 Introduction to Management Accounting study tips Midterm exam York University

ADMS 2200 Introduction to Management Accounting Mid-Term exam prep 2024 actual update York University

Economics: the social science that studies the processes that govern the production, distribution and consumption of goods and services in an exchange economy.  Foundations of economic thought: o Moral philosophy (Ethics) o Political economy o 1776. Adam Smith, a Scottish philosopher, authors Wealth of Nations  Considered the founding text of modern economics  The ability of mankind to organize exchange is what distinguishes humans from the animals o Classical Liberal:  Thomas ...

6. Today’s typical recreation vehicle owner is white, 50 years old, and married. With a mean household income of $71,900, typical recreation vehicle owners are more affluent than average and tend to own their homes. They spend approximately 19 days a year in their rolling homes. On the way, they’re likely to listen to country music, easy listening, or all-talk radio. This describes which of the following for recreation vehicles? a. market segment b. market differentiation c. perceive...

ADMS 1305 Questions and Answers | Latest Version | 2024/2025 | Already Passed What is the primary purpose of data management in a business environment? To organize, store, and analyze data to support decision-making and business operations What is an example of structured data? Data stored in tables or spreadsheets with clear labels and categories What is the role of a database management system (DBMS)? To manage, store, and retrieve data from a database efficiently What does ...

ADMS Test Tarleton State Uni Questions and Answers | Latest Version | 2024/2025 | Rated A+ What is the primary function of an ADMS (Advanced Distribution Management System)? To optimize the operation of electrical distribution networks and ensure reliable service How does ADMS help in managing power outages? It helps in quickly identifying faults and rerouting power to minimize downtime What key feature distinguishes ADMS from traditional SCADA systems? ADMS includes advanced ana...

You have been hired by the President of Electric Motors & Computing Corp. (EM&CC) to provide advice on 3 issues. EM&CC has a number of divisions, each with their own manager. The following information is taken from the 2003 accounting records of East Coast Marketing, a division of EM&CC. Sales $12,000,000 Variable costs 4,000,000 Contribution margin $ 8,000,000 Direct fixed costs 5,000,000 Segment income $ 3,000,000 ========= At the beginning and end of 2003, East Coast Marketing had t...