Accounting Systems and Management Control: Recording, Analysis, and Decision-Making Processes

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Sociology - Management

georgepetenjk Created by 10 mon ago

Cards in this deck(24)

Which branch of accounting focuses on recording, summarizing, and reporting transactions from business operations over time?

What is the process of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for organizational goals?

Which term describes the activities of planning, directing and motivating, controlling, improving, and decision-making?

What is the process of developing a company's objectives and translating them into actionable steps?

What is the process by which managers run day-to-day operations called?

Monitoring operating results and comparing actual results with expected results is known as _____?

What is the objective of continuous improvement in a process?

What is the process of choosing among alternative courses of action to achieve strategic goals?

Which specialized area of accounting focuses on capturing, recording, analyzing, and reporting all costs incurred by a business?

What represents the cash or cash equivalent value sacrificed for goods and services that bring current or future benefits to an organization?

What is any item such as a product, customer, department, project, or activity for which costs are measured and assigned?

What is the cost of any material that is an integral part of the finished product?

What is the cost of the salaries and wages paid to direct labor personnel?

What are materials not directly traceable to the finished product and do not become an integral part of it?

What is the factory or production cost that is indirect to manufacturing a product?

What refers to how cost reacts to changes in the level of business activity or production?

What is an element that influences the cost of an activity and serves as a metric?

What is the range of activity levels where assumptions about cost behavior remain accurate?

What are costs that remain the same in total as output/activity base changes within the relevant range?

What type of cost varies in direct proportion to changes in output?

What is a cost that has both a fixed and variable component?

What method separates mixed costs by preselecting two points (high and low) to compute the intercept and slope?

What is a statistical technique that analyzes the relationship between independent and dependent variables?

What method involves determining the equation of a line by plotting data on a graph?

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