Chapter 1, Problem 1.32ACT

1.

To determine

To identify: Interrelatedness between three areas of management’s responsibility.

2.

To determine

To identify: SOX impact on financial accounting and managerial accounting.

3.

To determine

To-know: why managerial accounting is more suitable for internal reporting.

4.

To determine

To-know: The efficiency of organisational structure in which management accountants report to controller.

5.

To determine

To-identify: Skills required by management accountant.

6.

To determine

To-identify: how these professional organisations help in a person’s career.

7.

To determine

To-identify: Benefits of CMA certification in a person’s career.

8.

To determine

To-identify: four ethical standards of IMA and their impact on planning, directing and controlling.

9.

To determine

To-identify: how these business trends impact management accountants’ roles.

10.

To determine

To-identify: careers in which managerial accounting will be useful other than accounting.

11.

To determine

To-identify: two examples of sustainability efforts.

12.

To determine

To-recommend: companies should publicize their sustainability efforts or not.