240Ch15DQ's2010 - Hi Guys Im going to take the lead in...

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Hi Guys, I’m going to take the lead in answering this 1 st chapters discussion questions. I have addressed many of the questions in my lecture. Please follow along. You can keep this for review. Read the question and then look at the answers below. Remember, you will see DQ’s on the exam. Discussion Question #2 If you collect data and then use it to assist you in making decisions, it can help you be more competitive and possibly have an edge on our competition. Management accounting provides many tools (such as Break-even pts & product costs) that enable managers to accurately analyze and evaluate company performance. An understanding of the various cost concepts we will study this semester, allows managers to make correct costing and pricing decisions, which can result in a competitive advantage. Discussion Question #3 Read this question carefully. On the exam there will be a question that basically says management accounting will make you profitable . It helps, but does not guarantee success . Managerial accounting provides many tools tools (such as Break-even pts & product costs) that enable managers to accurately analyze and evaluate company performance. These tools enable managers to pinpoint problems. Once managers identify problems, they can plan and implement strategies to fix the problems and gain a competitive edge.
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