OF Semester FALL 201 Are Managerial accounting reports and information used by EXTERNAL users and financial...

Transcribed Image Text:

OF Semester FALL 201 Are Managerial accounting reports and information used by EXTERNAL users and financial accounting reports and information by INTERNAL users? Does financial AND managerial accounting affect user's decislons and actions? 3 Does financial AND managerial accounting rely on accepted principles that are enforced through an extensive set of rules and guidelines? Of the five (5) activities of every organization, Managerial accounting information is used for which activities? What are the differences between financial and managerial accounting? 6. A company that produces a large number of standardized units would normally use a job order costing system. 7. Equivalent units of production for direct materials and direct labor are usually the same. Can Standard costs be used by management to assess the reasonableness of actual costs incurred? As part of the Master Budget, preparing a Cash Budget is required. What items or items should NEVER be included in a Cash Budget? When comparing BUDGET to ACTUAL results for a given period, what is the situation(s) that will result in a favorable variance? 10 is Capital budgeting the process of analyzing alternative long-term investments and deciding which assets to acquire or sell ? 11 There are several methods for determining Rate of Return in the capital Budgeting process. Does the Accounting Rate of Return base Its 12 calculations on cash flows or net income? raluste two investments that have equal costs and equal total cash flows, does the Investment with less OF Semester FALL 201 Are Managerial accounting reports and information used by EXTERNAL users and financial accounting reports and information by INTERNAL users? Does financial AND managerial accounting affect user's decislons and actions? 3 Does financial AND managerial accounting rely on accepted principles that are enforced through an extensive set of rules and guidelines? Of the five (5) activities of every organization, Managerial accounting information is used for which activities? What are the differences between financial and managerial accounting? 6. A company that produces a large number of standardized units would normally use a job order costing system. 7. Equivalent units of production for direct materials and direct labor are usually the same. Can Standard costs be used by management to assess the reasonableness of actual costs incurred? As part of the Master Budget, preparing a Cash Budget is required. What items or items should NEVER be included in a Cash Budget? When comparing BUDGET to ACTUAL results for a given period, what is the situation(s) that will result in a favorable variance? 10 is Capital budgeting the process of analyzing alternative long-term investments and deciding which assets to acquire or sell ? 11 There are several methods for determining Rate of Return in the capital Budgeting process. Does the Accounting Rate of Return base Its 12 calculations on cash flows or net income? raluste two investments that have equal costs and equal total cash flows, does the Investment with less

Answer rating: 100% (QA)

1 No managerial accounting reports and information are used by INTER N AL users and financial accounting reports and information are used by EX TERN AL users Manager ial accounting reports are typical... View the full answer