Exam 1: The Accountants Vital Role in Decision Making

The Global Reporting Initiative (GRI)is a nonprofit organization established to develop guidelines so that reporting on economic,environmental and social performance by all organizations is as routine and comparable as financial reporting.

Controllership includes responsibility for

Management accounting

There are many aspects of a company that managers should focus on.Which of the following sets most completely describes key success factors for managers in terms of delivering performance to customers?

Controllership includes short- and long-term financing and investments,banking,cash management,foreign exchange,and derivatives management.

Which of the following is an example of the Integrative Analysis guideline from t he CPA Guidelines for Ethical Behaviour.

For which of the following areas is a chief operating officer (COO)typically responsible?

The approaches and activities of managers in short-run and long-run planning and control decisions that increase value for customers and lower costs of products and services are known as

What competitive advantage could a company obtain from a successful cost management program?

A budget may be used as a planning tool,but not as a control tool.

A report showing the actual financial results for a period compared to the budgeted financial results for that same period would most likely be called a

Preparation of a monthly report comparing the actual phone bill with the expected phone costs would be classified as

The Global Reporting Initiative has developed and supports several frameworks,however,the most common form of sustainability accounting is the Balanced Scorecard.

Do you agree that prior management decisions affect cost management?

The person(s)directly responsible for the attainment of organizational objectives is/are

An Enterprise Resource Planning System can best be described as

Management accounting

Corporate social responsibility is

The people who rely most exclusively on the information in a company's audited financial statements are

Complete a performance report for the month of February,2016,for the Daily Mirror,a regional newspaper showing four columns: 1)Actual Result;2)Budgeted Amount;3)Difference: Actual Result minus Budgeted Amount;4)Difference as a Percentage of Budgeted Amount;AND,three rows: 1)advertising pages sold;2)average rate per page;3)advertising revenues.Use the following data: Does the report indicate any cause for managerial investigation?