Managerial Accounting Essay

01)How does conductorial business relationship differ from monetary accounting? A Managerial accounting is concerned with providing information to managers for use inner(a) the organization. Financial accounting is concerned with providing information to stockholders, creditors, and others outside of the organization.02)Pick any major boob tube network and cite some planning and control activities that its managers would engage in. A tailfin examples of planning activities include1.Estimating the advertising revenues for a next period.2.Estimating the total expenses for a future period, including the salaries fo all actors, news reporters and sportscasters.3.Planning how many new television shows to introduce to market.4.Planning the networks advertising activities and expenditures. 5.Planning each television shows designated interpenetrate time. Five examples of controlling activities1.Comparing the actual number of viewers for each show to its viewership projections. 2.Comp aring the actual costs of running a resultion studio to the budget 3.Comparing the revenues earned from broadcasting a sporting event to the costs incurred to broadcast the event. 4.Comparing the actual costs of producing a made for television movie to its budget. 5.Comparing the actual cost of providing global and topical anesthetic news coverage to the budget.03)If you have to decide whether to continue making a comp wizardnt part or to begin buying the part from an overseas supplier, what quantifiable and qualitative factors would influence your finding? A the quantitative analysis would focus on determining the potential cost saving from buying the part kind of than making it. The qualitative analysis would focus on broader issues such as strategy, risks, and corporate social responsibility.04)Why do companies prepare budgets?A companies use budgets to translate into formal quantitative terms. Budgets are used for various purposes, such as forcing managers to plan ahead, a llocating resources across departments, coordinating activities across departments. These various purposes often conflict with one another, which makes budgeting one of managements most challenging activities.05)Why is managerial accounting relevant to business major and their future careers? A Managerial accounting is relevant to all business students because all managers engage in planning, controlling, and determination making activities. If managers wish to influence co-wokers across the organization, the must be able to speak in financial terms to scarceify their proposed courses of action. 06)Why is managerial accounting relevant to accounting major at the futures careers? A The represent of Managerial Accountants estimates that 80% of accountants work in non-public accounting environments. Accountants that work in corporate, non-profit, and governmental organizations are evaluate to use their planning, controlling and last making skills to help improve instruction execu tion.07)Pick any large familiarity and puff its strategy using the framework in the chapter. A Amazon.com competes in terms of operational excellence. The company focuses on delivering products faster, more conveniently and at a lower price than competitors. Its using the planning, controlling and make decision making.08)Why do management accountants need to understand the companys strategy? A Planning, controlling and decision making must be performed within the context of companys strategy.09)Pick any large company and describe three risks that it subjects and how it responds to those risks. A the company is NIKE, which has suppliers in over 40 countries. One risk that NIKE faces is that its suppliers willing fail to manage their employees in a socially responsible manner. NIKE faces the risk that unsatisfactory environmental performance will diminish its brand image. The company is investing substantial resources to develop productsthat minimize adverse impacts on the environ ment. NIKE faces the risk that customers will not like its new products. The company uses focus groups research to proactively assess the customers reply to its new products.10)Provide three examples of how a companys risks can influence its planning, controlling and decision-making activities. A Airlines face the risk that large spikes in fuel prices will lower their profitability. They may reduce this risk by spending money on hedging contracts that enable them to lock-in future fuel prices that will not throw even if the market prices increases.11)Pick any large company and explain a three ways that it could component its companywide performance. A Procter&Gamble could segment its performance by product category (Beauty and grooming, Household care, Health and well-being), product line ( crest and tide), and stock keeping units ( Crest cavity protection toothpaste, crest extra whitening toothpaste and crest sensitivity toothpaste).12)Locate the website of any company that pub lishes a corporate social responsibility report (also referred to as a sustainability report). Describe three nonfinancial performance measure included in the report. Why do you think the company publishes this report? A Timberland publishes quarterly corporate social responsibility prosody ( www.earthkeeper.com/CSR/csrdownloads.) there of those metrics include metric tons of carbon emissions the percentage of total cotton sourced that is native and renewable energy use as a percent of total energy usage. Hes corporate slogan of doing well by doing good suggests that the company publishes CSR reports because that its financial success is positively influenced by its social and environmental performance.13)Why do companies that implement lean production tend to have minimal inventories? A companies that use learn production only make units in response to customer orders. They produce units just in time to satisfy customer demand, which results in minimal inventories.14)Why are leade rship skills important to manager?A organizations are managed by people that have their own personal interests, insecurities, belief, and data supported conclusions that reckon unanimous support for give course of action is the exception rather than the rule. Managers must possess concentrated leadership skills if the wish to channel their co-wokers efforts towards achieving organizational goals. 15)Why ethics important to business?A Ethical demeanor is the lubricant that keeps the economy running.