Managerial Accounting Hilton Quiz1 Answers

(TCO 1) Which of the following is NOT a difference between Financial Accounting and Managerial Accounting?

The focus of EEC’s investment of the purchasing of the supplier is to cut down on

Bubba, I am writing this memo so that you can further understand the problem that you are encountering. You want to receive further funding in order for your restaurant to grow and expand across the country. The issue that the bank is having with you and the restaurant is that you are not supplying sufficient evidence for them to decide whether or not they want to grant the loan to you to expand your restaurant. Before the bank can decide on your loan, they require financial statements documenting the revenues, profits, and assets of your restaurant. These statements show the bank if you possess enough funds in order to pay back the loan but they also use it to measure the amount of potential for the restaurant because whenever a bank grants a loan to a business or business owner, they are making an investment in that individual or business.

Agenda – Submit term projects to TURNITIN ASAP – Assignment #2 due April 1st 1159pm • List the coauthor’s name in the subject line. • Teaching Evaluation • Transfer pricing (cont.) – Stanco Inc. • Review chapters 11 and 12 & the practice final – Practice Q1 and Q2 • Review chapters 8 and 9 and the practice final – Practice Q3 and Q4 ACTG 2020

Accounts receivable (net) increased by $500,000 during the year. This increase has what effect on cash flow?

a service department’s costs have been allocated, costs are not reallocated back to it under

Cost measurement is the process of determining the dollar amount of direct materials, direct labor, and overhead that should be assigned to production. Cost accumulation is the process of associating costs with the units produced. Cost measurement is more about whether actual or estimated costs should be used, and cost assignment is about whether costs should be assigned to jobs or processes.

3. What are each of the financial statements commonly called in for-profit health care organizations and in not for-profit care organizations?

The purpose and goal behind researching the income statements and balance sheets then calculating the ratios is mainly to help creditors and investors make their decisions easier and faster. The way we are presenting our research results helps the investors and creditors make the decision which of the companies is more worthy to invest in or loan money too without taking a risk, and lowering the chances that they will be disappointed by the results of their investment, or in the creditors case they can be almost certain the company they are loaning the money to would be worthy enough of paying the money back without a hassle.

Q1. Contrast financial and managerial accounting on the basis of user orientation, purpose of information, level of aggregation, length of time period, orientation toward past or future, conformance to external standards, and emphasis on objective data.

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGrawHill Education.

Company operates in the Industrial Sector – Services, and Industry – Regional Airlines. According to the Standard Industrial Classification System (SIC), company belongs to the industry group 451: Air

Feedback: Managerial accounting is oriented towards the future, measures efficiency and effectiveness, and is a means to end, not an end in itself. LO 4

Secondly, it is the company’s accountant which deals with the company’s annual finance. However under Mr Blacks assistant it is the manager who is given the role to take care of the company’s day to day finance. Under the manager there are four people, firstly it is the employees the people who stock the shelf and assist and help the customer’s. Secondly, it is the cashier who works at the till and scans the items and takes the money of the customers and gives them change if needed. Thirdly, it is the stock keeper he is in charge of keeping track of the stock. Fourthly, it is the suppliers the people or company that supplies item to mobile lunches 4u.

On 1 July 2011, Kookaburra Ltd acquired an item of plant at a cost of $200 000. The plant has an