Questions from Cost Accounting

Q: Explain the differences between financial accounting and cost accounting. Why arethese

Explain the differences between financial accounting and cost accounting. Why arethese differences important?

Q: “It’s not the job of accounting to determine strategy. It

“It’s not the job of accounting to determine strategy. It is only used to measure results.”Discuss.

Q: Would you support a proposal to develop a set of “generally

Would you support a proposal to develop a set of “generally accepted” accountingstandards for measuring executive performance that would be used to determine compensation?Why or why not?

Q: Airlines are well known for using complex pricing structures. For example

Airlines are well known for using complex pricing structures. For example, it is often (butnot always) less expensive to buy a ticket in advance than it is on the day of the flight.However, if the air...

Q: Nabisco (a unit of Kraft Foods) makes a variety of

Nabisco (a unit of Kraft Foods) makes a variety of cookies (OreosTM, for example)just like Carmen’s Cookies. In what ways are the cost accounting issues the same? Inwhat ways are they different?

Q: What potential conflicts might arise between marketing managers and the controller’sstaff?

What potential conflicts might arise between marketing managers and the controller’sstaff? How might these potential conflicts be resolved with a minimum of interference from the chief executive offic...

Q: Refer to the Business Application discussion of supply chain costs. A

Refer to the Business Application discussion of supply chain costs. A colleague says, “We don’t have to worry about other firms in the supply chain. If every firm in the chain minimizes its own cost,...

Q: Refer to the Business Application discussion of options backdating. If stock

Refer to the Business Application discussion of options backdating. If stock optionsand other forms of performance-based compensation result in some managers engagingin unethical or illegal behavior,...

Q: Why does a cost accountant need to be familiar with new developments

Why does a cost accountant need to be familiar with new developments in informationtechnology?

Q: Will studying cost accounting increase the chances that Carmen’s Cookies will succeed

Will studying cost accounting increase the chances that Carmen’s Cookies will succeed? How? Will it guarantee success? Explain.