Discuss what is meant by the statement, “The accounting system is a conceptual flow of                  information that represents physical personnel, machinery, and flows of raw materials and cashthrough the organization.”

Q: The value chain is the sequence of business functions in which A. value is deducted from the…

A: The value chain refers to the sequence of business functions in which value is added to products or…

Q: Manufacturing Accounting is different from Financial Accounting...what is the  nature and purpose of…

A: Departmental accounting is system of bookkeeping where the transactions of all the departments…

Q: Describe in detail the characteristics of managerial accounting.

A: Solution Managerial accounting is that part of accounting that deals with quality of information. It…

Q: Accounting information system design is influenced by a company's business processes and business…

A: Accounting Information System:- It is the framework or structure that a business or company uses to…

Q: Discuss the role data analysis plays in financial management of an organization

A: The administration of an organization's finances depends heavily on data analysis. Making choices…

Q: The steps of the plan–do–check–act cycle and how each step defines a unique purpose and role for…

A: Strategic management is important in business because it allows a company to discover areas where it…

Q: Which of the following is NOT one of the definitions of Management Accounting? Select one: a. Any…

A: Management accounting is the accounting that helps the management in planning and taking better…

Q: Discuss how management accounting fits into an organization’s structure

A: Staff managers provide support services to the line managers. Staff managers are specialists that…

Q: How does management accounting fit into an organization's organizational structure?

A: This question explains about the management accounting fit into an organization's organizational…

Q: Explain the purpose and nature of, and the role of ethics in, managerial accounting.

A: Managerial accounting: Managerial accounting is a system, or a process of collecting and organizing,…

Q: Is the value chain in a managerial accounting a tool that primarily assists in the valuation of…

A:

Q: Can you please explain how management accounting can be used in evaluating processes within an…

A: Business is defined as any unit that is engaged in executing activities. They may be involved in…

Q: Financial Accounting and Reporting, Advanced Financial Accounting and Reporting, Management…

A: The duties of a controller include assisting with the preparation of the operating budget,…

Q: Identify three ways that accounting systems help align thegoals of employees and the goals of the…

A: Accounting information: Accounting information is used in business measurement, performance…

Q: Which of the following does NOT describe management accounting? A. Emphasis on the past

A: Management Accounting-: Management Accounting assists managers within a firm make judgments. Also…

Q: What are some of the uses that management may make of accounting information about individual…

A: In a company, generally, various divisions have been made according to the type and flow of work.…

Q: The internal control of an organization is made up of O control of the environment. O all of these.…

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: The type of accounting that is related to cost ascertainment and control is: a. Cost accounting b.…

A: Financial accounting helps in preparation and presentation of financial statements Taxation…

Q: Understanding intermediate products and final products in management accounting.

A: Intermediate and final goods have different but equally essential functions in the manufacturing…

Q: primary users of managerial accounting information

A: Accounting information is presented in the financial statement of the company. The financial…

Q: Distinguish between managerial and financial accounting

A: Managerial Accounting is the application of various analysis, measurements, identification,…

Q: Describe the nature and scope of management accounting?

A: Management accounting seems to be a subset of accounting that assists management in making decisions…

Q: What is the significant contribution of the Accounting Information System in the business value…

A: In most businesses, the accounting department is the single most frequent user of the accounting…

Q: Compare and contrast financial and managerial accounting.  In your own words

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Understand how management accounting fits into an organization’s structure

A: Management accounting:  Management accounting measures, analyses, and reports both financial and…

Q: Accounting is an information and measurement system that identifies, records and communicates an…

A: Accounting are often outlined because the method of recording, classifying, summarising the money…

Q: What are some of the applications that management may make of accounting data pertaining to the…

A: How are Responsibility Centers Defined: Generally, a business has been divided into numerous…

Q: Describe the purpose of managerial accounting.

A: Managerial Accounting: Managerial Accounting is mainly concerned with internal users of the…

Q: If an organization's business activities and lines of business are taken into consideration while…

A: Introduction: Auditors, accountants, and business analysts use accounting information systems(AIS)…