Contabilidad

CAPITULO 1 The Changing Role of Managerial Accounting in a Dynamic Business Environment
PREGUNTAS
1.-Define the term- Managerial accounting.
R- Is the process of identifying, measuring, analyzing, interpreting and communicating information in pursuit of an organization´s goal.
2.-List and define the four basic management activities.
* Decision Making- to make a decision consideringavailable alternatives
* Planning- Developing a detailed financial and operational description of anticipated operations.
* Directing operational activities-Running the organization on a day to day basis
* Controlling- Ensuring the organization operates in the intended way and achieves its goals.
3.-List and describe two differences between Managerial versus Financial Accounting
*MANAGERIAL ACCOUTING- concerns information for decision making, planning and controlling operations. FINANCIAL ACCOUNTING-relates to published financial information.
* MANAGERIAL ACCOUNTING- is for internal use of the information- managers. FINANCIAL ACCOUNTING- is for external user’s usch as stock market, investment holders, etc.
4.-Distinguish between line and staff positions.
R- Managers inLine positions are directly involved in the provision of goods or services. Managers in staff positions supervise activities that support the overall company mission , but are only indirectly involved in operational activities.
5.- Distinguish between the following two accounting positions controller and treasurer.
R- The controller is responsible for supervising the personnel in the accountingdepartment and for preparing the information and reports used in both managerial and financial accounting.
The treasurer is responsible for raising capital and safeguarding the company´s assets.
6.- What is the chief difference between manufacturing and service industry firms?
The key difference is that most services are consumed as they are produced, service orgs. also tend to be more labor-intensive.
7.- Explain the difference between e-commerce and e-business.
R- E-BUSINESS- Involves the business process, and E- COMMERCE-buying and selling over electronic media.
7.-What is meant by the term non-value added costs?
R- These are the costs of activities that can be eliminated with no deterioration product quality, performance or value.
8.- Define and explain the significance ofthe term CMA?
R- It’s a professional certification called Certified Management Accountant, which involves specified educational requirements and passing the CMA exam instructed by the Institute of Management Accountants.
*************************************************************************

CHAPTER 2 BASIC COST MANAGEMENT CONCEPTS AND ACCOUNTING FOR MASS CUSTOMIZATION OPERATIONS

1.-Define the term cost? And expense?
R- A sacrifice made measured by the resources given up to achieve a particular purpose. An expense is the cost incurred when an asset is used uo or sold for the purpose of generating revenue.
2.- Describe the Cost of goods sold and the Product Cost of Merchandise.
R- The cost of goods sold are the products costs that are recognized as an expense, The product Costof Merchandise inventory acquired by a retailer or wholesaler for resale consists of= Purchase Cost of Inventor + Shipping Charges.
3.-Mention the difference between the product cost and Period Cost?
Product cost- is the cost assigned to the goods either purchased or manufactured.
Period Cost-These cost are identified with the period of time in which they are incurred rather than with the unitsof purchased or produced goods.
4.-What is the most important difference between a manufacturing firm and service industry, with regard to the classification of costs as product costs or period costs?
Please draw diagram.
Pg.39

5.-Mention the inventory that a manufacturer might have?
* Raw material- includes all materials before placed in production
* Work in process-refers to...