Exam 1: Introduction to Cost Management

Enterprise resource planning (ERP) software has the objective of providing an integrated system capability and is able to run all the operations of a company.

The Standards of Ethical Professional Practice of the Institute of Management Accountants addresses all of the following EXCEPT

Which of the following statements is NOT true about world-class firms?

The Certificate of Public Accounting does not include the right to serve as external auditors.

In resolving an ethical conflict, it is inappropriate to discuss the problem with the immediate supervisor because of a violation of which standard of ethical conduct for management accountants?

Determining the bid your company should submit on a construction contract is an example of

Describe the two major subsystems of the Cost Management System and briefly summarize their importance.

Setting the selling price of a company's product is an example of

The cost management subsystem designed to assign costs to individual products and services is called the _________ information system.

The certification sponsored by the Institute of Management Accountants that emphasizes economics, finance, management, financial accounting and reporting, management reporting, and decision analysis is the

Which of the following is NOT an advance in information technology that affects firms?

Which of the following activities is NOT associated with the financial accounting information system?

The cost management information system is primarily concerned with producing outputs for external users.

Discuss the three forms of accounting certification. Which form of certification do you believe is best for management accountants? Why?

The increased importance of costing activities in the value chain and determining the cost of different suppliers and customers has led to the emergence of

Total quality management emphasizes

Which of the following activities is NOT significant to the advancement of information technology?

Three of the major certifications available to management accountants are Certificates in Management Accounting, Public Accounting, and Internal Auditing.

Which of the following is NOT provided by cost accountants?

One of the major advances in information technology that affects firms is the emergence of electronic commerce.