Answered: Identify the three forms of accounting…

Identify the three forms of accounting certification. Which form of certification do you believe is best for a managerial accountant? Why?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 9Q: Other than accounting skills, what six qualities must be prevalent in a managerial accountant?

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Question

Identify the three forms of accounting certification. Which form of certification do you believe is best for a managerial accountant? Why?

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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Other than accounting skills, what six qualities must be prevalent in a managerial accountant?
Which of the following groups would have access to managerial accounting information? A. bankers B. investors C. competitors of the business D. managers
Who are the primary users of the information gathered by managerial accountants?
Should a managerial accounting system provide both financial and nonfinancial information? Explain.
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 framework
Explain how managerial accountants help managers plan, control, and evaluate.
What is business ethics? Is it possible to teach ethical behavior in a management accounting course?
All of the following are examples of managerial accounting activities except ________. A. preparing external financial statements in compliance with GAAP B. deciding whether or not to use automation C. making equipment repair or replacement decisions D. deciding whether or not to use automation
Which of the following skills/attributes is not a primary skill for accountants to possess? A. written communication B. verbal communication C. ability to work independently D. analytical thinking E. extensive computer programing background
There are individuals who are under the impression that managerial accounting provides services mainly for manufacturing organizations. Are they correct? Explain.
Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
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