It happens that the student spends a lot of time preparing for the exam or test. It seems that everything is remembered, but when it comes to examination, there’s a problem with the fact that the student cannot remember what he taught. Ebbinghaus conducted an experiment and found that in 48 hours a person forgets 75% of the information. After 20 minutes, a person forgets 42% of the information. And after 8 days a person remembers only 20% of the information. Striking numbers, isn’t it?
However, there’s a good test help or exam help in order to prepare without such loss of information. Information cards are a powerful tool for memorizing, they help to invest only useful studying materials.
If you need to prepare for the exam, do your homework or write a research paper on project management, then our cards with teaching materials will be very useful for you. In this section, you will learn managerial accounting, strategic management, performance management and risk management.
Our study guide will help you quickly get the main information on management, without wasting time searching for relevant information or reading a lot of literature. You can use them anywhere: while you are in transport, traveling or just spending time on the street. With the cards, the student can quickly understand where there are gaps in information. This is a great way to self-test your knowledge.
We can say that the cards contain strictly specific information when in the textbook there ar a lot of extensive facts. Such cards are suitable for freshening information in memory. The more often you use them, the faster you will remember the necessary information. It’s much easier learning information from cards than to choose from a textbook. The practice of repetition is an optimized way of memory performance.
This is a very effective method in education, as they help to save information for a longer period of time with minimal effort. This is what you need when you need to prepare well for the subject. Using these cards at least a couple of times a day, while not spending any effort you effectively memorize.
Product Costs necessary costs incurred to manufacture a product Period Costs necessary costs incurred to produce a product Direct Materials Materials used in a product that are easily and conveniently traceable Indirect Materials Materials used in a product that are NOT easily and conveniently traceable Direct Labor Labor in which Read more…
What is the definition of Managerial Accounting? provides economic and financial information for managers and other *internal* users. How many ways does managerial accounting differ from financial accounting? List the differences. 5: 1. Primary Users of reports 2. Types and frequency of reports 3. Purpose of reports 4. Content of Read more…
Managerial Accounting Information for internal figures Helps managers plan, direct, control, and make decisions for the business. Financial Accounting Information for external figures Report monetary transactions Prepare financial statements. Recent Trends in Business Global competition Time-base competition Just-in-time management Total quality management Triple bottom line Business Classifications Service Manufacturing Merchandising Read more…
A(n) _________________ changes basic inputs into products that are sold to customers: A) manufacturing business B) service business C) enterprise business D) merchandising business A Which of the following users is not considered an external user of accounting information: A) a creditor B) an investor C) the government D) a Read more…
Managerial Accounting The phase of accounting concerned with providing information to managers for use WITHIN the organization. Segment A part or activity of an organization where managers would like cost, revenue or profit data. Financial Accounting The phase of accounting that is concerned with reporting historical financial information to external Read more…
Financial accounting information is reported at fixed intervals in general-purpose financial statements. These financial statements are prepared according to GAAP. Financial accounting information used by external users such as the following: Shareholders Creditors Government agencies The general public Managerial accounting information is designed to meet the specific needs of a Read more…
Managerial accounting is applicable to service entities, manufacturing entities, and not-for-profit entities. (all of these) For a manufacturing company, which of the following is an example of a period cost rather than a product cost? Wages of salespersons Which one of the following would not be classified as manufacturing overhead? Read more…
What is the primary purpose and focus of managerial accounting Managerial accounting provides information that helps managers plan, direct, and control operations and make better decisions; it has a -future orientation -focus on relevance to business decisions How do managers design a company’s managerial accounting system that is not regulated Read more…
Sunk Costs Costs that have already been incurred Relevant Costs Costs that differ among alternatives Opportunity Costs The benefits forgone by choosing one alternative over another and are relevant costs for decision making purposes Financial Accounting Concerned primarily with the preparation of general-use financial statements for creditors, investors, and other Read more…
Financial v. Managerial Accounting Managerial: future, for managers who plan and control, emphasis on relevance, emphasis on timeliness, focus on segment reports, not bound by GAAP, not mandatory 3 activities that managerial accounting helps carry out: 1. planning 2. controlling 3. decision making Planning: -Establishing goals, specifying how to achieve Read more…
What is the objective of managerial accounting? assisting managers in directing and controlling The focus of ____ accounting is to meet the needs of EXTERNAL users Financial What type of organizations use managerial accounting information? Profit seeking, nonprofit enterprises, and manufacturing companies Managerial Accounting Help managers achieve the organization’s goals Read more…
Financial Users External Users (e.g, owners, creditors, tax authority, regulators) Managerial Users Internal Users (e.g, planning, directing, controlling, performance evaluation by managers) Financial Time Past Activity Managerial Time Future Activity Financial Characteristics Objectivity, Verifiability, Precision Managerial Characteristics Relevance, timeliness Financial GAAP Must follow GAAP Managerial GAAP Does not need to Read more…
sell products purchased from other businesses to make their objective of maximizing their profits Merchandising businesses Which of the following users is not considered an external user of accounting information? A Manager Which of the following is not accurate when it pertains to managerial accounting? Provides economic data reports on Read more…
In order to be useful to managers, management account reports should possess all of the following characteristics except” be prepared in accordance with generally accepted accounting principles what is the primary criterion for the preparation of managerial accounting reports meet the manager needs which of the following is most associated Read more…
Managerial Accounting provides financial and nonfinancial information to managers and other internal decision makers Purpose of managerial accounting provide useful information to decision makers Differences between financial accounting and managerial accounting 1. managerial accounting also reports non-financial information. 2. financial accounting information is generally used by external users, whereas managerial Read more…
Direct costs Costs that can be easily and conveniently traced to a unit of product or other cost object. Examples: direct material and direct labor Indirect costs Costs that cannot be easily and conveniently traced to a unit of product or other cost object. Example: manufacturing overhead Direct Materials Raw Read more…
managerial accounting This is providing accounting information for a company’s internal users, emphasis on the future -Is not bound by GAAP, Financial and non financial information; subjective information possible -Has three broad objectives: Planning, Controlling, Making Decisions planning The detailed formulation of action to achieve a particular end -this is Read more…
Budget A detailed plan for the future that is usually expressed in formal quantitative terms. Business Process A series of steps that are followed in order to carry out some task in a business. Constraint Anything that prevents you from getting more of what you want. Controlling The process of Read more…
Managerial Accounting Internal use, for managers, CFOs, reports whenever they want, based on current and future transactions, relevance, Financial Accounting SEC, GAAP, external users, investors, financial analysts, quarterly reports, based on historical transactions, reliability and objectivity, CPA audits Manager’s responsibilities Planning: set goals, determine how to achieve them Directing: oversee Read more…
American Institute of Certified Public Accountants (AICPA) the world’s largest association representing the accounting profession; together with the Chartered Institute of Management Accountants (CIMA) offers the Chartered Global Management Accountant (CGMA) designation. audit committee a subcommittee of the board of directors that is responsible for overseeing both the internal audit Read more…