Chapter One: Introduction To Cost Accounting

Front 1

in comparing financial and management accounting, what accurately describes management accounting information

Back 1

budgeted, informative, adaptable

Front 2

management accounting is used for what purposes

Back 2

internal

Front 3

financial accounting is used for what purposed

Back 3

external

Front 4

one major difference between financial and management accounting is that

Back 4

financial accounting reports are prepared primarily for users external to the company, management accounting is not under the jurisdiction of the securities and Exchange Commission, and government regulations do not apply to management accounting

Front 5

is management or financial accounting more concerned with the future

Back 5

management

Front 6

broadly speaking, cost accounting can be defined as

Back 6

internal reporting system that provides product cost and other information used by managers in performing their functions

Front 7

cost accounting is directed toward the needs of

Back 7

internal users

Front 8

subset of management and financial accounting

Back 8

cost accounting

Front 9

a managerial accountant who communicate information objectively is exercising which standard

Back 9

objectivity

Front 10

a managerial accountant who prepares clear reports and recommendations after analyzing relevant facts is exercising which standard

Back 10

competence

Front 11

cost accounting standards

Back 11

do not exist except for those legal pronouncements for companies bidding or pricing cost-related contracts with the government

Front 12

which US legislation relates to bribes being offered to foreign officials

Back 12

Foreign Corrupt Practices Act

Front 13

the institute of Management Accountants' Code of Ethics

Back 13

should be viewed as a goal for professional behavior

Front 14

the foreign corrupt practices act is directed at

Back 14

US corporations operating overseas

Front 15

the Institute of Management Accountants issues

Back 15

statements on management accounting

Front 16

the ethical standards established for management accountants are in the areas of

Back 16

competence, confidentiality, integrity, and credibility

Front 17

primary function of the Institute of Management Accountants

Back 17

provide a means to share information among cost and management accountants in the US

Front 18

value chain

Back 18

set of processes that convert inputs into services and products that consumers use

Front 19

strategy

Back 19

long-term plan that fulfills the goals and objectives of an organization

Front 20

foundation of strategic resource management

Back 20

value chain

Front 21

financial perspective

Back 21

addresses concerns about organizational growth

Front 22

customer value perspective

Back 22

addresses how well the organization is meeting specific customer-based criteria

Front 23

learning and growth perspective

Back 23

focuses on using a firm's intellectual capital to adapt to customer needs through product or service innovations

Front 24

internal business perspective

Back 24

addresses things that an organization needs to do well to meet customer needs and expectations