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management accounting
Questions and Answers of
Management Accounting
With respect to return on assets (ROA) and the debt ratio, the preferred directions when analyzing them from a control standpoint are ________.(a) decrease ROA, increase debt(b) increase ROA,
What four questions could be used to organize the presentation of a real-time balanced scorecard in the executive dashboard for a small business?
Assume that you are given the job of project manager for building a new student centre on your campus. List just five of the major activities that would need to be accomplished to complete the new
The most appropriate first question to ask in strategic planning is ____________.(a) “Where do we want to be in the future?”(b) “How well are we currently doing?”(c) “How can we get where
The ability of a firm to consistently outperform its rivals is called ____________.(a) vertical integration(b) competitive advantage(c) incrementalism(d) strategic intent
In a complex conglomerate such as General Electric that owns a large number of different businesses, a(n) ____________ level strategy sets strategic direction for a strategic business unit.(a)
The ____________ is a predominant value system for an organization as a whole.(a) strategy(b) core competency(c) mission(d) corporate culture
Cost efficiency and product quality are two examples of ____________ objectives of organizations.(a) official(b) operating(c) informal(d) institutional
An organization that is downsizing by laying off workers to reduce costs is implementing a ____________ strategy.(a) growth(b) cost differentiation(c) restructuring(d) vertical integration
When Canadian Tire acquired the Forzani Group, owner of Sport Chek and other sporting goods chains, the firm’s strategy was growth by ____________.(a) related diversification(b) concentration(c)
In Porter’s five forces framework, having ____________ increases industry attractiveness.(a) many rivals(b) many substitute products(c) low bargaining power of suppliers(d) few barriers to entry
A ____________ in the BCG Matrix would have a high market share in a low-growth market, and the correct grand or master strategy is ____________.(a) Dog, growth(b) Cash Cow, stability(c) Question
Strategic alliances that link together airlines in code sharing and joint marketing agreements are examples of how businesses can use ____________ strategies.(a) divestiture(b) growth(c)
The two questions asked by Porter to identify competitive strategies for a business or product line are: 1—What is the market scope?2—What is the ____________?(a) market share(b) source of
According to Porter’s model of competitive strategies, a firm that wants to compete with its rivals in a broad market by selling a very low-priced product would need to successfully implement a
When Coke and Pepsi spend millions on ads trying to convince customers that their products are unique, they are pursuing a ____________ strategy.(a) transnational(b) concentration(c)
The role of the board of directors as an oversight body that holds top executives accountable for the success of business strategies is called ____________.(a) strategic leadership(b) corporate
An example of a process failure in strategic planning is ____________.(a) lack of participation(b) weak mission statement(c) bad core values(d) insufficient financial resources
What is the difference between focus and differentiation as competitive strategies?
Kim Davidovic owns and operates a small retail store selling the outdoor clothing of a Canadian manufacturer to a predominately university-student market. Lately, a large department store outside of
The main purpose of organizing as a management function is to ____________.(a) make sure that results match plans(b) arrange people and resources to accomplish work(c) create enthusiasm for the work
____________ is the system of tasks, reporting relationships, and communication that links together the various parts of an organization.(a) Structure(b) Staff(c) Decentralization(d) Differentiation
Rumours and resistance to change are potential disadvantages often associated with ____________.(a) virtual organizations(b) informal structures(c) delegation(d) specialized staff
An organization chart showing vice presidents of marketing, finance, manufacturing, and purchasing all reporting to the president is depicting a ____________ structure.(a) functional(b) matrix(c)
The functional chimneys problem occurs when people in different functions ____________.(a) fail to communicate with one another(b) try to help each other work with customers(c) spend too much time
A manufacturing business with a functional structure has recently developed three new product lines. The president of the company might consider shifting to a(n) ____________ structure to gain a
The ____________ structure tries to combine the best elements of the functional and divisional forms.(a) virtual(b) boundary less(c) team(d) matrix
The “two-boss” system of reporting relationships is found in the ____________ structure.(a) functional(b) matrix(c) network(d) product
Better lower-level teamwork and more top-level strategic management are among the expected advantages of a ____________ structure.(a) divisional(b) matrix(c) geographical(d) product
“Tall” organizations tend to have long chains of command and ____________ spans of control.(a) wide(b) narrow(c) informal(d) centralized
A student volunteers to gather information on a company for a group case analysis project. The other members of the group agree and tell her to go ahead and choose the information sources. In terms
The current trend in the use of staff in organizations is to ____________.(a) give staff personnel more authority over operations(b) reduce the number of staff personnel(c) remove all staff from the
The bureaucratic organization described by Max Weber is similar to the ____________ organization described by Burns and Stalker.(a) adaptive(b) mechanistic(c) organic(d) adhocracy
Which type of organization design best fits an uncertain and changing environment?(a) Mechanistic(b) Bureaucratic(c) Organic(d) Traditional
An organization that employs just a few “core” or essential fulltime employees and outsources a lot of the remaining work shows signs of using a ____________ structure.(a) functional(b)
Explain the practical significance of this statement: “Organizational design should be done in contingency fashion.”
Describe two trends in organizational design and explain their importance to managers.
Faisal Sham supervises a group of seven project engineers. His unit is experiencing a heavy workload, as the demand for different versions of one of his firm’s computer components is growing.Faisal
Pluralism and the absence of discrimination and prejudice in policies and practices are two important hallmarks of _________.(a) the glass ceiling effect(b) a multicultural organization(c) quality
When members of minority cultures feel that they have to behave in ways similar to the majority culture, this is called _________.(a) biculturalism(b) symbolic leadership(c) the glass ceiling
Engineers, scientists, and information systems specialists are likely to become part of separate_________ subcultures in an organization.(a) ethnic(b) generational(c) functional(d) occupational
Stories told about an organization’s past accomplishments and heroes such as company founders are all part of what is called the_________ culture.(a) observable(b) underground(c) functional(d) core
Honesty, social responsibility, and customer service are examples of_________ that can become foundations for an organization’s core culture.(a) rites and rituals(b) values(c) subsystems(d) ideas
Which leadership approach is most consistent with an organizational culture that values the full utilization of all diverse talents of all the organization’s human resources?(a) Managing
When members of a dominant subculture, such as white males, make it hard for members of minority subcultures, such as women, to advance to higher-level positions in the organization, this is called
An executive pursuing transformational change would give highest priority to which one of these change targets?(a) An out-of-date policy(b) The organizational culture(c) A new information system(d)
_________change results in a major change of direction for an organization, while_________ change makes small adjustments to current ways of doing things.(a) Frame-breaking; radical(b) Frame-bending;
The presence or absence of a felt need for change is a key issue in the_________ phase of the planned change process.(a) improvising(b) evaluating(c) unfreezing(d) refreezing
When a manager listens to users, makes adaptations, and continuously tweaks and changes a new information system as it is being implemented, the approach to technological change can be described as
A manager using a force-coercion strategy will rely on_________ to bring about change.(a) expertise(b) benchmarking(c) formal authority(d) information
The most participative of the planned change strategies is _________.(a) force-coercion(b) rational persuasion(c) shared power (d) command and control
True internalization and commitment to a planned change is most likely to occur when a manager uses a(n)_________ change strategy.(a) education and communication(b) rational persuasion(c)
Trying to covertly influence others, offering only selective information, and structuring events in favour of the desired change is a way of dealing with resistance by _________.(a) participation(b)
What are the major differences in potential outcomes of using the force-coercion, rational persuasion, and shared power strategies of planned change?
Two businesswomen, former university roommates, are discussing their jobs and careers over lunch. You overhear one saying to the other: “I work for a large corporation, while you own a small retail
Describe the overall purpose of an accounting system and outline the differences between financial accounting and management accounting.
The board of directors of “Fast & Furious Inc.”, a manufacturer of sports equipment, has decided to install a new management position, “Supply Chain Management”, that is planned to report
Explain the role of logistics in a modern economy.
You are heading the small team of “Fast & Furious Inc.” management accountants that has supported top management and middle management in the past. Following the envisaged restructuring, you
How has consumer behavior, especially in the western industrialized nations, been driven by new logistical developments and what challenges have emerged in recent years?
Name and briefly explain the “7Rs” that define a logistics goal system.
Describe how the supply chain concept has extended the traditional view on logistics.
Define the concept of supply chain management and explain how supply chain management can create a supply chain surplus.
Discuss the need for a new discipline of supply chain management accounting.
Explain how theory can contribute to explaining collaboration between firms in general and how theory can support supply chain practitioners in performing their job.
Your company has been doing business with one of your major suppliers for several years. The business relationship is good but has never gone beyond formal purchasing frame contracts. The
Discuss the fundamental traits of neoclassical theory and briefly explain why it cannot explain the existence of supply chains.
The Edge Corp., a manufacturer and seller of electric guitars, sources input products for its guitars from various suppliers. Recently, there have been massive problems with some suppliers. In
Explain the concept of transaction costs and show how they influence the distribution of resources among economic actors (firms).
Discuss how the characteristics of bounded rationality, indi-vidual profit maximization, and opportunistic behavior lead to different forms of governance in transactions between two or more actors.
Describe how SCMAC helps identify and manage transaction costs in supply chain relationships.
Outline how resource-based theory can explain the existence of supply chains.
Discuss how collaboration as a form of managing supply chains can be a powerful relational resource that improves competitive advantage.
List and explain the key problems that may arise between a principal and an agent when collaborating in a supply chain setting.
Discuss the options suggested by agency theory on how to mitigate or avoid agency problems in a supply chain context.
Explain the key problems that management accounting is faced with in a cross-organizational supply chain setting.
Your company has long relied on a single supplier when procuring a key component for your best-selling product. With product sales still increasing, your top management is increasingly worried about
Distinguish and briefly describe different governance structures in supply chains and explain the implications for management accounting.
Your company has recently moved from single sourcing to dual sourcing, adding a second supplier for a key component of your product. While the relation with the incumbent supplier is based on a long
Define and explain the term “relational rent” in a supply chain.
Explain why input-oriented profit sharing is not effective in supply chains and outline a more appropriate profit-sharing arrangement.
Explain the phenomenon of “value chain envy”.
Outline the role of trust as a governance mechanism in supply chains.
Describe the importance of information flows in a supply chain and explain the “bullwhip effect”.
Explain how financial performance and operating performance differ in a supply chain.
Name and describe the key problems when measuring perfor-mance across multiple supply chain partners.
Explain the main differences between financial accounting and cost accounting.
“Take It Easy” is a manufacturer of light-weight, high-comfort mattresses. It realizes more than half of its total sales through two specialized mattress retail store chains.Recognizing the
What are the main tasks of cost accounting in an enterprise, and how are these implemented in a typical cost accounting system?
Hay Minion Inc. is an agricultural machinery manufacturer. With agriculture becom-ing more and more industrialized in many markets, Hay Minion’s customer base is increasingly marked by big
Explain the nature of supply chain cost. How can supply chain cost be distinguished from other cost concepts used in cost accounting?
How are supply chain cost treated in standard cost accounting systems? Why is this approach insufficient for managing cost across firms?
Name and explain the key challenges that cost accounting faces when handling supply chain cost in a standard cost accounting system.
Explain the different options of aligning and harmonizing cost accounting systems across supply chain partners. Under which conditions will each option be an appropriate choice for the firms involved?
Explain why cost information must be consolidated across partner firms in order to provide valid cost information for the supply chain. What is the basic conceptual logic followed in cost
Name and describe different options of exchanging cost-relevant information between supply chain partners.
What is the basic idea of open book accounting (OBA)? Which factors and conditions need to be considered in order to assess OBA’s benefits to a supply chain?
Outline the problems of open book accounting in practice.
Explain the conceptual differences between cost accounting and cost management. How do both disciplines relate to each other?
Easyrider Inc. is a Germany-based manufacturer of motorcycles. Easyrider’s reputa-tion is mostly built on enduro bikes in the high-priced market segment. Easyrider has decided to enter the
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