inal review of working papers and financial statements, it is common to have the analytical procedures done by a manager. senior. partner. staff member.
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- manager.
- senior.
- partner.
- staff member.
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- Include examples of the type of information and reports the management accountant can provide.The accountant's usefulness to management is said to be directly influenced by how good an attention director and problem solver he is. Evaluate this contention by specifically by relating the accountant duties to the duties of operating management.The accounting and other reports that help managers monitor performance and focus on problems and/or opportunities are a form of_______________
- Audit plan is always prepared after conducting: a. Interview of employees b. Review of financial statements c. A risk workshop d. Interview of managementEnumerate two information that has to be circulated in a business environment, and explain what is the best type of flow to be used for such information. Example: Financial statement reports - if these reports are already finalized, the best way to disseminate the information is through downward vertical. the distribution of this information will come from top management once approved, then down to the subordinates.Accountants are counted on to provide management with analyzing data to determine best and worst-case scenarios. As future planning becomes more complex, these what-if analyses can increase in complexity and usefulness. Identify and discuss at least three types of what-if analyses that an accountant should be able to perform to measure a firm’s performance over a period
- Evaluation of the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management is the responsibility of Management Auditor Director AccountantSCOREKEEPING- which enables both internal and external parties to evaluate organizational performance and position. Attention Directing- helps manager to focus on operating problems, opportunities as well as inefficiencies. This is commonly associated with current planning and control and the analysis and investigation of recurring routine internal accounting reports to signal situation in which management action may required. Problem Solving- quantification of the relative merits of possible courses of action as well as recommendations as the best procedure. P.s. I have included the meaning of the three choices.Which General Staff member negotiates and monitors contracts, maintains documentation for reimbursement, and oversees timekeeping for incident personnel? A.Finance/Administration Section Chief B. Operations Section Chief C. Logistics Section Chief D. Planning Section Chief.
- Indicate whether each statement describes financial accounting or managerial accounting. The information is directed at external users who are making decisions pertaining to investing, extending credit, and other decisions. The principal users are the organizations managers. The key focus is on the entity as a whole. The rules and principles are very flexible. The information gathered is usually available after an independent audit has been completed.When managerial accountants design an evaluation system that is based on criteria for which a manager is responsible, and it is structured to encourage managers to make decisions that will meet the goals of the company as well as their own personal job goals, the framework used is _______. A. a controllable factors framework B. an uncontrollable factors framework C. a strategic plan framework D. a responsibility accounting frameworkBriefly discuss the chain of command for someone being hired into an organization as a staff managerial accountant.
