Managerial Accounting + Connect Access Card
7th Edition
ISBN: 9781260581263
Author: John Wild
Publisher: McGraw-Hill College
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Textbook Question
Chapter 4, Problem 3BTN
Accounting professionals who for private companies often obtain the Certified
Required
Go to the IMA website (IMAnet.org) and determine which parts of the CMA exam likely cover activity-based costing. A person planning to become a CMA should take what college coursework?
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Degreed accountants have the opportunity to obtain specialized certifications in various accounting career fields. Research and discuss certifications related to accounting information systems (AIS). Include a discussion of requirements to earn the certifications and any additional information regarding maintaining the certifications. Also, visit a job board, such as Indeed, to research advertised positions that may be of interest to you. Share your thoughts on the requirements for the advertised position(s) as it relates to your preparation.
Review the imanet.org website to research more information about the Certified Management Accountant (CMA) certification. Choose one of the following questions to discuss:
Discuss what you think the benefits of having the CMA certification are and what value a CMA brings to companies.
Using the internet or other resources to research other accounting certifications, pick two other accounting certifications and compare them to the CMA. Do you think a certification only allows a professional to work in one field of accounting or another, or do the certifications cross subfields of accounting?
Are there benefits to professionals pursuing more than one certification? Why or why not?
Which certification do you personally find most interesting and valuable?
Discuss what you think the benefits of having the CMA certification are and what value a CMA brings to companies
Please assist with addressing the two topics below.
Describe at least two potential positions related to managerial accounting that you personally found to be interesting and explain why they were noteworthy to you. Include a link to the job posting or job description.
Compare these positions and job descriptions to those that require a background in financial accounting. Are they similar or different?
Thank you!
Chapter 4 Solutions
Managerial Accounting + Connect Access Card
Ch. 4 - Prob. 1MCQCh. 4 - Prob. 2MCQCh. 4 - All of the following are examples of batch-level...Ch. 4 - Prob. 4MCQCh. 4 - Prob. 5MCQCh. 4 - Why are overhead costs allocated to products and...Ch. 4 - What are three common methods of assigning...Ch. 4 - Why are direct labor hours and machine hours...Ch. 4 - What are the advantages of using a single plant...Ch. 4 - The usefulness of a single plant wide overhead...
Ch. 4 - What is a cost object?Ch. 4 - Explain why a single plantwide overhead rate can...Ch. 4 - Why are multiple departmental overhead rates more...Ch. 4 - Prob. 9DQCh. 4 - Prob. 10DQCh. 4 - Prob. 11DQCh. 4 - Prob. 12DQCh. 4 - Prob. 13DQCh. 4 - Prob. 14DQCh. 4 - 15. What are the four activity levels associated...Ch. 4 - Prob. 16DQCh. 4 - Prob. 17DQCh. 4 - Prob. 18DQCh. 4 - Prob. 1QSCh. 4 - Prob. 2QSCh. 4 - Prob. 3QSCh. 4 - Prob. 4QSCh. 4 - Prob. 5QSCh. 4 - Prob. 6QSCh. 4 - Prob. 7QSCh. 4 - Prob. 8QSCh. 4 - Plant wide rate method P1 A manufacturer uses...Ch. 4 - Prob. 10QSCh. 4 - Prob. 11QSCh. 4 - Prob. 12QSCh. 4 - Prob. 13QSCh. 4 - Prob. 14QSCh. 4 - Prob. 15QSCh. 4 - Prob. 16QSCh. 4 - Exercise 17-17 Identifying activity levels C3...Ch. 4 - Prob. 2ECh. 4 - Exercise 17-1 Computing Plantwide overhead rates...Ch. 4 - Prob. 4ECh. 4 - Prob. 5ECh. 4 - Prob. 6ECh. 4 - Exercise 17-5 Departmental overhead rates P2 Refer...Ch. 4 - Prob. 8ECh. 4 - Prob. 9ECh. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13ECh. 4 - Prob. 14ECh. 4 - Prob. 15ECh. 4 - Prob. 16ECh. 4 - Exerciser 17-14 Activity-based costing P3 A2...Ch. 4 - Prob. 18ECh. 4 - Problem 17-1A Comparing costs using ABC with the...Ch. 4 - Prob. 2PSACh. 4 - Prob. 3PSACh. 4 - Prob. 4PSACh. 4 - Prob. 5PSACh. 4 - Prob. 1PSBCh. 4 - Prob. 2PSBCh. 4 - Prob. 3PSBCh. 4 - Prob. 4PSBCh. 4 - Prob. 5PSBCh. 4 - Prob. 4SPCh. 4 - Prob. 1AACh. 4 - Prob. 2AACh. 4 - Prob. 3AACh. 4 - Prob. 1BTNCh. 4 - Prob. 2BTNCh. 4 - Accounting professionals who for private companies...Ch. 4 - Prob. 4BTNCh. 4 - Prob. 5BTNCh. 4 - Visit and observe the processes of three different...
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- The Certified Management Accountant (CMA) certification: signifies someone specializing in tax accounting requires an associates degree and four years of work experience includes a two-part exam, education requirements, and a work experience requirement is offered to managers who take special courses in accountingarrow_forwardAs a managerial accountant, you would have the opportunity to work for company that classifies itself as either service, merchandising, or manufacturing.Based on what you have learned from this unit, and based on your personal preferences, identify which type of company for which you would prefer to work as a managerial accountant. Be sure to provide specific reasoning to support your answer.arrow_forwardWhich of the following professional certificates is considered to be the most relevant for dealing with cost management issues? Multiple Choice The Certified Public Accountant (CPA), which is monitored differently for each state in the US. The Certificate in Management Accounting (CMA), which is administered through the Institute of Management Accountants The Chartered Financial Analyst (CFA), since its program focuses on the broadest range of topics and responsibilities for financial analysis The CPA, CMA, and CFA are viewed as equally relevant, since all three require an exam, as well as specific background and experience requirements. None of these answers are correctarrow_forward
- Which of the following is typically required for entry-level positions in the accounting profession? A. bachelors degree B. masters degree C. Certified Public Accountant (CPA) D. Certified Management Accountant (CMA) E. only a high school diplomaarrow_forwardMany accounting and accounting-related professionals are skilled in financial analysis, but most are not skilled in manufacturing. This is especially the case for process manufacturing environments (for example, a bottling plant or chemical factory). To provide professional accounting and financial services, one must understand the industry, product, and processes. We have an ethical responsibility to develop this understanding before offering services to clients in these areas. Required Write a one-page action plan, in memorandum format, discussing how you would obtain an understanding of key business processes of a company that hires you to provide financial services. The memorandum should specify an industry, a product, and one selected process and should draw on at least one reference, such as a professional journal or industry magazine.arrow_forwardYou are employed as a Chartered Certified Accountant in an insurance company. You are completing starting your own business. In considering whether or not to start your own business, your current salary level would be Select one: a. An opportunity cost b. A sunk cost C. An irrelevant cost d. An incremental costarrow_forward
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- After completing your first degree in accounting you have been employed by XYZ Company as an account officer. The Management of the company has tasked you to implement a computerized accounting system.RequiredIn a paragraph each, address the following questions:a) Discuss five benefits associated with the implementation of the computerizedaccounting system within the company.b) Giventhattherearesomanyaccountingpackagesonthemarket,whatshouldyoube looking for when selecting a computerized accounting package for the company?Explain any five factors to considerc) Assuming you procure a Sales Ledger package, what kind of reports should weexpect? List five types of reports expected to be generated.d) Explainthedifferencebetweenastand-alonepackageandanintegratedpackage?Explain two advantaged and two disadvantages of an integrated packagee) Before a new accounting package can be deployed, it needs to be configured. What does it mean to configure an accounting package? Explain the processes…arrow_forwardThe organization whose primary function is to provide a means to share information among cost and management accountants in the United States is the A. Internal Revenue Service. B. American Institute of CPAS. C. National Association Accountants. D. Institute of Certified Management Docet Selectionarrow_forwardWhich of the following users would be considered an internal user and would use managerial accounting reports? Select answer from the options below credit - rating agency security regulator financial institution chief operating officerarrow_forward
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