Managerial vs. Financial Accounting
Financial and managerial accounting information serve different puroses.
The following phrases are commonly used to describe either financial
or managerial accounting.
Must follow GAAP
Focused on past performance
Data, Information an Knowledge
The following statements relate to various types of data, information, and knowledge in a business setting.
a. The sales price for a particular inventory item
b. Dimensions of a company's manufacturing facility
c. Customer p
Ethics and Decision Making
Many decisions have ethical implications. Therefore, understanding
the ethical dimensions of business decisions is important.
a. The famed economist, Milton Friedman, once argued
that the only social responsibility of a corporat
Just-in-time and lean production systems are widely viewed
as improving the competitive position of companies.
Complete the following sentences describing the effects of
JIT and lean production using the words increase(s) or decrease(s).
An understanding of production processes is important to accurate
costing of products. The following statements describe different
aspects of production processes.
a. Manufacturing companies must produce their own raw materials
to manufacture other produc
Factors in Decision Making
Decision making requires the consideration of various factors and matters, some quantitative
and others qualitative. The following statements descibe various aspects of decision making.
a. Cost is rarely a factor in decisions an
Cost Flows: Raw Materials Used
At the beginning of the month, AGN Manufacturing had
the following information available for the month
During the month of
The four most fundamental factors that affect the cost of
money are (1) production opportunities, (2) time
preferences for consumption, (3) risk, and (4) weather
One of the four most fundamental factors that affect the
cost of money as di
Who is the person responsible for running the portfolio
and making buy/sell decisions?
NAV(net asset value)
the current market value of all the securities the fund
owns, less any liabilities, on a per share basis
What is the type of fee
5 near term financial objectives
1.Finish School 2.Get a job 3.Build a cash reserve
4.Establish a good credit rating 5.Get out of debt
What's the single most important thing you can do to
enhance earning power?
Get an education
How much more do College gr
Personal Financial Planning
the process of managing your money to achieve personal
Summarizes current financial situation
Analyzes financial needs
Recommends future financial activities
8 elements of
The excess of total receipts over total payments is
referred to as
net cash flow.
XYZ Co. has forecasted June sales of 500 units and July
sales of 1,600 units. The company maintains ending
inventory equal to 125% of next month's sales. June
A corporation's written pledge to repay a specied amount of money
The dollar amount that the bondholder will receive at the bond's
maturity date; it is usually $1,000. This term is one of the
characteristics of cor
A firm had the following accounts and financial data for
Sales Revenue $3,060
Cost of Goods Sold $1,800
Acct Receivable 500
Preferred Stock Dividends $ 18
Interest Expense 126
Tax Rate 40%
Total operating expenses 600
No. of shares of common stock o
The net present value is best defined as the difference between an
market value and its cost
The process of valuing an investment by discounting its future cash
flows is called:
discounted cash flow valuation.
The period of time it takes an
the situation in which interest paid on an investment during the first
period is added to the principal. During the second period, interest is
earned on the original principal plus the interest earned during the first
number of y
=Man-made goods that are produced for the purpose of
producing more goods and services.
=A person who takes rick and gathers the resources to
provide new or improved good and service to the