HMWORK CH1 - Cornerstone ch 1 hmw1 1 Classify each of the following actions as either being associated with the financial accounting information

HMWORK CH1 - Cornerstone ch 1 hmw1 1 Classify each of the...

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Cornerstone ch 1 hmw1 1. Classify each of the following actions as either being associated with the financial accounting information system (FS) or the cost management information system (CMS): a . Determining the total compensation of the CEO of a public company FS b . Issuing a quarterly earnings report FS c . Determining the unit product cost using TDABCCM CMS d . Calculating the number of units that must be sold to break even CMS e . Preparing a required report for the SEC FS f. Preparing a sales budget CMS g . Using cost and revenue information to decide whether to keep, or drop, a product line CMS h . Preparing an annual statement of financial position that conforms to generally accepted accounting principles (GAAP) FS i. Using cost and revenue information to decide whether to invest in a new production system or not CMS j. Reducing costs by improving the overall quality of a product CMS k . Using a debt-equity ratio and liquidity ratios from a balance sheet to assess the likelihood of bankruptcy FS l. Using a public company's financial statements to decide whether or not to buy its stock FS 2. Identifying Cost Management Information System ObjectivesConsider the following actions associated with a cost management information system:Select the appropriate objectives for each of the following actions of a cost management information system:Required:a.Eliminating a non-value-added activity panning and comtrolb.Determining how much it costs to perform a heart transplant costing of servicec.Calculating the cost of inspecting components from an outside supplier costing of product and service
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