Questions from Survey Accounting

Q: How has the Institute of Management Accountants responded to the need for

How has the Institute of Management Accountants responded to the need for high standards of ethical conduct in the accounting profession?

Q: What does the term activity-based management mean? (Appendix

What does the term activity-based management mean? (Appendix)

Q: What do the terms value added activity and non value-added

What do the terms value added activity and non value-added activity mean? Provide an example of each type of activity. (Appendix)

Q: What does the value added principle mean as it applies to managerial

What does the value added principle mean as it applies to managerial accounting information? Give an example of value added information that may be included in managerial accounting reports but is not...

Q: How does product costing used in financial accounting differ from product costing

How does product costing used in financial accounting differ from product costing used in managerial accounting?

Q: What does the statement “costs can be assets or expenses”

What does the statement “costs can be assets or expenses” mean?

Q: How do product costs affect the financial statements? How does the

How do product costs affect the financial statements? How does the classification of product cost (as an asset vs. an expense) affect net income?

Q: How does a product cost differ from a general, selling,

How does a product cost differ from a general, selling, and administrative cost? Give examples of each.

Q: Why is cost classification important to managers?

Why is cost classification important to managers?

Q: Explain the term stakeholder. Distinguish between stakeholders with a direct versus

Explain the term stakeholder. Distinguish between stakeholders with a direct versus an indirect interest in the companies that issue financial reports.