SDC Accounting 301 - Assignment 1

Hh.: subject: account

Write an essay of the new roles of management accountants in accommodating to the current and future business environment premised on digital economy and beyond. The essay should outline, explain, and analyse the business environment within which management accountants would be adapting, and how they (i.e. management accountants) would be positioning themselves in the future. In writing your essay, please observe that you need to write between 500 to 750 words

Categorize each of the following activities as to which management responsibility it fulfills: planning, directing, or controlling. Some activities may fulfill more than one responsibility. (Select an "X" in the input field if the management responsibility is fulfilled. If the management responsibility is not fulfilled, leave the input field empty.) Question content area bottom Part 1 Activity Management Responsibility Planning Directing Controlling a. Management decides to increase sales growth by 20% next year. b. Management analyzes the impact of a recent advertising campaign by comparing budgeted sales to actual sales. c. Management reviews hourly sales reports to determine the level of staffing needed to staff the customer service desk. d. Management uses information on product costs to determine sales prices. e. To lower production costs, management moves production to China.

C Justin Bleeber has prepared the following list of statements about mi accounting, financial accounting, and the functions of management. Financial accounting focuses on providing information to internal users.Staff positions are directly involved in the company's primary revenue-generating activities.Preparation of budgets is part of financial accounting.Managerial accounting applies only to merchandising and manufacturing companBoth managerial accounting and financial accounting deal with many of the same economic events.Managerial accounting reports are prepared only quarterly and annually.Financial accounting reports are general-purpose reports. IManagerial accounting reports pertain to subunits of the business.Managerial accounting reports must comply with generally accepted accounting principles.The company treasurer reports directly to the vice president of operations.Instructions Identifv each statement as true or false. If false, indicate how to correct the statement. 11-36

Give true solution for general accounting question

Choice of Strategic Business Unit Hamilton-Jones, a large consulting firm in Los Angeles,has experienced rapid growth over the last 5 years. To better serve its clients and to bettermanage its practice, the firm decided 2 years ago to organize into five strategic business units,each of which serves a significant base of clients: accounting systems, executive recruitment andcompensation, client-server office information systems, manufacturing information systems, andreal-estate consulting. Each SBU is served by a variety of administrative services within the firm,including payroll and accounting, printing and duplicating, report preparation, and secretarialsupport. Hamilton-Jones’s management closely watches the trend in the total costs for eachadministrative support area on a month-to-month basis. Management has noted that the costs inthe printing and duplicating area have risen 40% over the last 2 years, a rate that is twice that ofany other support area.Required Should Hamilton-Jones…

Managerial accountants: Multiple Choice are responsible for issuing a company's annual financial statements. are found primarily at higher levels of the organizational hierarchy. often work with regulators like the SEC. often work on cross-functional teams and are located throughout an organization. are found primarily at lower levels of the organizational hierarchy.

Now, consider emerging trends in business today.  How should the discipline of managerial accounting evolve to meet the changing needs of organizations?  Be specific.  Suggest specific accounting information needs that you feel managers have in the current business environment.

Each of the following scenarios requires the use of accounting information to carry out one or more of the following managerial activities: (1) planning, (2) control and evaluation, (3) continu-ous improvement, or (4) decision making. a. MANAGER: At the last board meeting, we established an objective of earning an after-tax profit equal to 20 percent of sales. I need to know the revenue that we need to earn in orderto meet this objective, given that we have $250,000 to spend on the promotional campaign. Once I have estimated sales in units, we then need to outline a promotional campaign thatconforms to our budget and that will take us where we want to be. However, to compute the targeted sales revenue, I need to know the unit sales price, the unit variable cost, and theassociated fixed production and support costs. I also need to know the tax rate. b. MANAGER: We have problems with our procurement process. Our accounts payable department is spending 80 percent of its time resolving…

Directions: 1. Read and analyze the given scenario. 2. With the goal and role of financial management in business in mind, determine whether the project should be continued or abandoned. Use the following facts and figures below as your reference. 3. Present your recommendation and explain the reasons in 4-6 sentences. 4. Write your answer on the blanks provided. Company A accepts a project to create a Learning Management System (LMS) for a big client. This company also creates and produces online training materials such as digital videos and ebooks. The LMS project itself has a projected revenue of $850,000. So far, the expenses amounting to $600,000 have been incurred by Company A on the project. This is way beyond the allocated budget. Due to this, the management contemplates on whether the project should still be continued. 1. Customized Software/Program Already purchased for $80,000 (apart from the $600,000 mentioned above), this software cannot be used for any other products of…