A finance professor and a marketing professor were recently comparing notes on their perceptions of corporations. The
Question:
- A finance professor and a marketing professor were recently comparing notes on their perceptions of corporations. The finance professor claimed the goal of a corporation should be to maximize the value to the shareholders. The marketing professors claimed that the goal of a corporation should be to satisfy customers. What are the similarities and differences in these two goals?
- The owner if a small software company felt his accounting system was useless. He stated, "Accounting systems only generate historical costs. Historical costs are useless in my business because everything changes so rapidly"
a.Are historical costs useless in rapidly changing environment?
b.Should accounting systems be limited to historical costs?
3.The opening paragraph of an accounting textbook says, "Managers need accounting information and need to know how to use it" Critically evaluate this statement.
4.Name a firm or organization you know of that you are reasonably sure uses strategic cost management information and explain why it does so.
5.Identify the different types of business firms and other organizations that use cost management and explain why it does so?
6.List the four functions of management. Explain what type of cost management information is appropriate for each.
7.Give three examples of firms you think would not be significant users of cost management information and explain why?
8.Give four examples of firms you think would be significant users of cost management information and explain why.
9.How do cost accountants support strategic decisions?
10.How do management accountants support strategic decisions?