Financial vs managerial - Study guides, Class notes & Summaries

OMIS 455 FINAL EXAM ACTUAL QUESTIONS AND ANSWERS 2024 WITH COMPLETE SOLUTION Financial Accounting (FI) Ledgers - -General Ledger, Special Purpose Ledger, Subsidiary Ledger Goal of FI - Designed to collect the transactional data that provides a foundation for preparing the standard portfolio of reports for external parties. Reports include Balance sheet, income statement, statement of cash flows. Credit control Area - An organizational entity which grants and monitors a credit limit ...

Who uses Managerial Accounting? Correct Answer-Internal users in the company (managers) What does Managerial Accounting Provide? Correct Answer-Economical and Financial information about the company Primary users of Reports (Financial vs Managerial) Correct Answer-F: External: creditors, stockholders M: Internal: Managers, offices Frequency and Type of Reports(Financial vs Managerial) Correct Answer-F: Financial Statements: Quarterly/Annually M: Internal Statements: as frequently as n...

MBA 706 Exam 1 Study Guide with Complete Solutions. Chapter 1 – The Strategic Perspective • Relationship between strategy and change o Change is the only certainty o Change can be cyclical (predictable) or evolutionary (unpredictable) o Change is an integral part of strategy ■ What drives change? -PEST (political / economic / social / technological) ■ What impacts change? - volatility / globalization / competition / redefine ■ What are the consequences of change? - new opport...

Defining Entrepreneurship correct answers -One who undertakes to organize, manage, and assume the risks of a business -The process of creating value by bringing together a unique package of resources to exploit an opportunity -Pursuit of opportunity w/o regard to resources currently controlled Is ent. teachable? correct answers -In the past, the answer was no -Entrepreneurship holds to a common process -That process is teachable, and there are common skills underlying it Is ent. th...

A business offers a group disability income plan and pays the premiums. If an employee suffers a disabling injury, the benefits paid to the employee will be: - Answer-axable income to the business deductible income to the employee a deductible business expense for the business taxable income to the employee A business overhead expense policy does NOT provide: - Answer-tax-free benefits a Medicare SELECT plan is - Answer-a managed care policy. A Medicare SELECT plan is a - Answer-managed c...

Solution Manual For Modern Advanced Accounting in Canada 9th Edition Hilton Murray, Herauf Darrell All Chapters, Complete Latest Version 2024. Chapter 1 Conceptual & Case Analysis Frameworks for Financial Reporting A brief description of the major points covered in each case and problem. CASES Case 1-1 In this case, students are introduced to the difference in accounting for R&D costs between IFRS and ASPE and asked to provide arguments to support the different standards. Case 1-2 (adap...

What are the two general kinds of accounting? What are the uses of them? Financial: --> outside users to determine financial health and firm profitability Managerial: --> inside users to examine internal processes/products to evaluate managment/current operations What is accounting? The process of recording, summarizing, and analyzing financial transactions. Who uses the different kinds of accounting and for what decisions? Financial: 1. Investors/Analyst 2. Creditors 3. Suppliers 4. Sh...

UGBA 104 Module 1 Practice Test Exam Latest Questions and Answers 1) Alonzo is an experienced CPA who has been hired for a professional position at PWC to advise corporations on mergers. Which of the following terms BEST describes Jose's capacity as an accountant? A) noncertified public accountant B) private accountant C) forensic accountant D) accountant providing management advisory services E) management accountant - CORRECT ANSWER-Answer: D See page 221, paragraph 2 of custom t...

FBLA Hospitality Management Exam Questions and Answers All Correct Hospitality - Answer- "the reception and entertainment of guests, visitors or strangers with liberality and good will." Derived from "hospice": medieval house of rest/nursing home ARAMARK - Answer- provides food service operations to businesses, recreation centers, sports stadiums, college and university campuses, health care facilities, convention centers, and gourmet restaurants Manager's role (objective...

LSU ACCT 2001 EXAM 2 TEST QUESTIONS WITH COMPLETE SOLUTIONS GRADED A+ Which of the following is a primary concern of internal control? a) Promote training programs and control incentives. b) Enhancing the accuracy and reliability of accounting data. c) Ensuring fairness of the financial statements. d) Encouraging adherence to prescribed managerial performance. - Answer-b) Enhancing the accuracy and reliability of accounting data. Which of the following is not correct regarding interna...