Flashcards in An Overview Deck (24)
Managerial accounting helps managers perform three vital activities:
planning, controlling, and decision making
The management activity of __________ includes specifying how to achieve established goals.
Management's detailed plans for the future are often expressed formally in a(n) ________.
Gathering feedback needed to ensure that expectations are being met is part of _________.
A performance report:
- helps identify and eliminate sources of unsatisfactory performance.
- can be used to help evaluate and rewards employees.
Dysfunctional behavior in employees can occur with _____ incentives.
Preventive controls include:
- segregation of duties.
Effective preventive and detective controls:
helps a company reduce its risk.
A ________ is a series of steps that are followed in order to carry out some task in a business.
A value chain adds value by focusing on the major functions of a business including:
- Research and development
- customer service.
A benefit of the lean approach is:
Customers, employees, suppliers, communities, and environmental and human rights advocates are all stakeholders which a company might have a corporate ______ ______ to serve
All people possess ______ biases or distorted thought processes that can adversely affect planning, controlling and decision making.
True or false: Giving employees an annual bonus increases their intrinsic motivation to pursue company goals
Which of the following attributes is NOT required to be perceived as a credibile leader?
strong mentoring skills
A game plan that enables a company to attract customers by distinguishing itself from competitors is a(n) _____.
Managerial accounting or Financial accounting: Emphasizes decisions affecting the future
Managerial accounting or Financial accounting: Emphasizes relevance
Managerial accounting or Financial accounting: Emphasizes consequences of past activities.
Managerial accounting or Financial accounting: Not required to follow GAAP/IFRS.
Managerial accounting or Financial accounting: Emphasizes objectivity
Planning involves ________.
setting goals and objectives
All of the following are pillars of managerial accounting except ________.