Managerial Accounting

Management Accounting Chapter 1

The largest U.S. professional organization of accountants focused on internal accounting. Institute of Management Accountants (IMA) The branch of accounting that produces information for managers within an organization. It is the process of identifying, measuring, Read more…

Managerial Accounting

Managerial Accounting Exams

The focus of Financial accounting is on on the past, since historical cost data are generally accurate and reliable. Financial accounting is governed by generally accepted accounting principles (GAAP). Financial accounting is concerned with providing Read more…

Managerial Accounting

Acc 2362 chapter 1

Which of the following accounts does a manufacturing company, but not a service company, have? Cost of goods sold What are the four major ethical standards in the IMA statement of ethical professional practice? Competence, Read more…

Managerial Accounting

Managerial Accounting

CVP Analysis is the study of the effects of changes in costs and volume on a company’s profit. Cost Includes manufacturing costs, plus selling and administrative expenses. Contribution Margin Ratio Contribution margin/sales Break Even point Read more…

Managerial Accounting

Managerial Accounting – Chapter 4

cost distortion overcosting some products while undercosting other products plantwide overhead rate when overhead is allocated to every product using the same manufacturing overhead departmental overhead rates separate manufacturing overhead rates established for each department Read more…

Managerial Accounting

Managerial Accounting: Exam 1

Managerial Accounting is the generation and analysis of relevant information to support managers decision-making activities Roles of a manager -planning -controlling -evaluating -decision making Variable costs v. Fixed costs -variable costs- total cost that varies Read more…

Managerial Accounting

MANAGERIAL ACCOUNTING EXAM 1

managerial accounting internal users ex. managers financial accounting external users ex. creditors and government regulators IMA professional ethical standards 1. competence 2. confidentiality 3. integrity 4. credibility IMA ( institute of management accounts) 1. report Read more…

Managerial Accounting

usm Accounting 220

special-purpose. Managerial accounting reports can be described as includes performance evaluation by management. The managerial function of controlling direct materials, direct labor, and manufacturing overhead. Manufacturing costs include manufacturing overhead. The product cost that is Read more…

Managerial Accounting

Managerial accounting ch 1-5

Financial accounting Used by external parties such as investors, creditors and regulators. Classified financial statements prepared according to GAAP. Objective, reliable, historical. Prepared periodically, info reported for the company as a whole. Managerial accounting used Read more…