Term
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Definition
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Term
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Definition
| evaluating the results of operations |
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Term
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Definition
| setting goals and objectives and how we hope to achieve those goals and objectives |
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Term
| Where OutBack open during lunch? |
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Definition
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Term
| What are the written expression of a plan? |
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Definition
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Term
| Who are the primary users of the information for Managerial Acc? |
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Definition
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Term
What is the purpose of the information?
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Definition
| To help managers plan, direct, and control business operations and make business decisions. |
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Term
| What is the primary accounting product? |
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Definition
| Any internel accounting report deemed worthwhile by management. |
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Term
| What must be INCLUDED in the report?? |
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Definition
| Management determines what it wants in a report. |
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Term
| What is the underlying basis of the information? |
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Definition
| The information needed for managerial accounting is focused on the future. Information provided can be external and internal transactions. |
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Term
| What information characterist is emphasized? |
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Definition
| The data must be relevant. |
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Term
| What business "unit" is the report about? |
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Definition
| Segment of the business, such as products, customers, geographical regions, departments, and divisions |
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Term
| How ofter are the reports prepared? |
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Definition
| It depends on the managment's needs. |
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Term
| Does anyone verify the information? |
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Definition
| The company's internal audit may examine the procedures used in preparting the reports. |
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Term
Is the information required by an outside group/ government agency?
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Definition
| No authoritative boby requires managerial acc reports. |
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Term
| Is there any concerns over how the reports will affect employee behavior? |
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Definition
| Management carefully considers behavioral implacations when designing the managerial acc system. |
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Term
| Who elects the BOARD OF DIRECTORS? |
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Definition
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Term
| What do the BOARD OF DIRECTORS do? |
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Definition
| They oversee the company. |
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Term
| How often do the BOARD OF DIRECTORS meet? |
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Definition
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Term
| Who do the BOARD OF DIRECTORS hire? |
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Definition
| Chief Executive Officer (CEO) |
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Term
| What do the CHIEF EXECUTIVE OFFICER (CEO)? |
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Definition
| manage the company on a daily basis |
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Term
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Definition
| Chief Operation Officer (COO) and Chief Financial Officer (CFO) |
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