Managerial Accounting

Front 1

Financial Accounting

Back 1

the summarizing and receiving of the past financial transactions of a company in order for the information to used by internal and external decision-makers.

Front 2

Managerial Accounting

Back 2

the summarizing of various types of future data for managers to use results in various internal reports decision-makers only.

Front 3

Management Accountants are...

Back 3

strategic business partners who understand the financial and operational sides of the business.

Front 4

Managerial accounting helps manager's perform 3 vital activities?

Back 4

Planning, controlling, and decision-making

Front 5

C.S.R.

Back 5

Corporate Social Responsibility is when a company takes in consideration the needs of ALL stakeholders when making decision, for the sole reason the company's social performance can IMPACT its financial performance.

Front 6

ERM

Back 6

Enterprise Risk Management is a process used in identifying risk(s) in order to develop a response(s) therefore, increasing the success of meeting the company's goals

Front 7

The primary difference between managerial and financial accounting

Back 7

Managerial accounting provides financial data for internal use within the organization, whereas financial accounting provides data for internal and external users.

Front 8

What are the measurements in which management accountants use to report and analyze both financial and non-financial ?

Back 8

Profits, processes, people, and planet

Front 9

The management activity of ________ includes specifying how to achieve estimate goals.

Back 9

planning

Front 10

Controlling involves:

Back 10

to gather feedback to ensure plans are being properly or modified as needed

Front 11

Planning involves:

Back 11

to establish goals and specify how to achieve them

Front 12

Companies have corporate social responsibility to serve

Back 12

all stakeholders such as employees, customers, communities, and suppliers

Front 13

Value Chain

Back 13

A major business function that add value to a company's products and services.

Front 14

What is likely result of ethical standards

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higher quality goods, lower prices, more to choose from

Front 15

Management accountant has ethical responsibilities in the area of

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maintaining a high level of professional competence.

Front 16

Companies should provide ____ & __ with greenhouse has emissions data child labor transparency, and recycling and resource conservation data.

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environment and human rights advocates

Front 17

What are the basic questions asked during the decision-making process?

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what should we be selling? who should we be servicing? how should we execute?

Front 18

What are the managerial accounting functions that are relevant to business majors, such as marketing and human resource management

Back 18

controlling, planning and decision-making.