The management accountants in an organization probably report directly to thea. controller.b. treasurer.c. chief executive officer (CEO).d. chief financial officer (CFO)
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The management accountants in an organization probably report directly to the
a. controller.
b. treasurer.
c. chief executive officer (CEO).
d. chief financial officer (CFO)
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- A governmental audit may extend beyond an examination leading to the expressionof an opinion on the fairness of financial statement presentation to includeProgram EconomyResults Compliance and Efficiency(1) Yes Yes No(2) Yes Yes Yes(3) No Yes Yes(4) Yes No Yes1. Which of the following best describes Financial Management? A) It is the specialty area of finance concerned with financial decision-making within a business entity. B) It is concerned with the use of funds - the buying, holding, or selling of all types of assets. C) It is concerned with the procuring of funds that can be used for long-term investing and financing day-to-day operations. D) All of the other choices best describe Financial Management. 2. Which of the following least describes Financing Decisions? A) Financing decisions are concerned with the procuring of funds that can be used for long-term investing and financing day-to-day operations. B) It is focused on the proper acquisition of cash, cash equivalents, and trading securities for use in a company's operations and investments. C) It involves incurring of debt, through bank loans or sale of bonds, to finance a company's operation and investments. D) It also deals with dividend decision, which involves how much of a…Q2 The new focus in management accounting is customer satisfaction. Consider the above statement and discuss the key factors that a management accountant must emphasize and concentrate on for the success of his organization. (You are to give Five (5) factors of 100 words each ). (HINT : Your explanation for each of the factor should demonstrate the connection between customer satisfaction and success of the business.
- 45-Who among the following are secondarily responsible for prevention and detection of frauds? O a. All the options b. Nomination committee is secondarily responsible for prevention and detection of fraud O C. Auditor is secondarily responsible for prevention and detection of fraud O d. Management is secondarily responsible for prevention and detection of fraudGive the meaning and purpose of each of the following: a. income statement b. cash flow statement c. balance sheet25.The financial statement that displays the revenues and expenses of a company for a particular period of time is: a.Fund Flow Statement b.Income statement c. Balance Sheet d.Cash Flow Statement
- {Auditing} 3. Which one of the following is the process of identifying, recording, analyzing and communicating financial information to stakeholders? a. Assurance b. Auditing c. Internal control d. None of the optionsList the factors that should affect the auditor’s decision whetherto analyze an account balance. Considering these factors, list four expense accounts thatare commonly analyzed in audits.in detail, write an essay about which one of the statements you agree or disagree with regarding market efficiency Manager A: “Shareholders will never know our capital budgeting decisions.” Manager B: “We cannot fool shareholders and the market. The market and shareholders will punish the company if bad capital budgeting decisions are made."
- Which of the following best describes the difference between financial accounting and tax accounting? Financial accounting is what managers use for internal, decision making purposes while tax accounting is used for creditors, investors, and the general public. They are both used for income tax reporting purposes, and they are both required by the SEC to be issued and made public so that they can be used by creditors, investors, and the general public Financial accounting is used for income tax reporting purposes and tax accounting is used by managers for internal, decision making purposes. Financial accounting is used by creditors, investors, and the general public, while tax accounting is used for income tax reporting purposes None of these answers is correctWhich among the following is a tool of management accounting? a. Budgeting b. Risk analysis c. Responsibility accounting d. All the options listed fastTrue or false One of the roles of the management accountant in the steep analysis is to assist the management in determining/assessing the logic between the identified factors their competitiveness/strategy, and its effect on their financial performance. The first step in strategic analysis is to define the purpose/objectives of the analysis