Exam 12: Introduction to Cost Management Systems

Which of the following should be able to provide the financial information needed for budget preparation? Cost management           Financial accounting             Cost accounting $\text {\underline{system } }$                           $\text {\underline{ system} }$                               $\text {\underline{system. } }$

Which of the following organizational characteristics critically affect the design of a cost management system? $\text {\underline{ Culture} }$        $\text {\underline{ Critical successfactors} }$         $\text {\underline{Mission} }$           $\text {\underline{ Form} }$

In a highly regulated,monopolistic industry,such as the electrical utility or TV cable,a cost management system is

Which of the following should be considered in a cost management system design? Cost                           Personinel                                    Investment $\text {\underline{principles } }$            $\text {\underline{ training principles } }$               $\text {\underline{ management principle} }$

A profit sharing plan is an example of a motivational element.

The reward system for subunit managers of mature businesses should emphasize

An operation whose exact nature cannot be observed is referred to as a(n)_________________________.

An enterprise resource planning system is composed of numerous software modules.

Which of the following statements is true?

Most managers evaluate decision alternatives based on how

A structure of interrelated elements that enables management to plan,control,and evaluate performance is referred to as a _____________________________________________.

A set of formal methods used to plan and control the cost-generating activities of an organization is referred to as a(n)________________________________________.

A short-run challenge for a business is maintaining a competitive position.

Profit sharing is a method of employee compensation that

As an organization moves to decentralize its operations,an effective reporting system will have ____ when the organization was centralized.

A device for determining what is happening in a process being controlled is referred to as a(n)____________________.

A measuring device that identifies what is happening in a process being controlled is referred to as a(n)____________________. or

What are the six primary goals of a cost management system? Illustrate how a CMS achieves each of these goals.

Organizational form directly affects which of the following? Decision-malang $\text {\underline{ authority} }$               $\text {\underline{ Cost of capital} }$              $\text {\underline{ Taxation} }$             $\text {\underline{ Mission} }$

Discuss the three elements of a cost management system.