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Which of the following is the responsibility of a CFO?

A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company. The CFO’s duties include tracking cash flow and financial planning as well as analyzing the company’s financial strengths and weaknesses and proposing corrective actions.

Who is primarily responsible for raising capital and investing funds?

treasurer

Which of the following tasks do management accountants perform?

Management accountants look after a company’s accounts. They advise managers about the financial implications of business decisions to aid growth and profit. Responsibilities of the job include: preparing reports, budgets, commentaries and financial statements.

Is primarily responsible for management accounting and financial accounting?

The financial executive primarily responsible for management accounting and financial accounting. Also called chief accounting officer. Measures, analyzes, and reports financial and non financial information relating to the costs of acquiring or using resources in an organization.

Who will most likely use management accounting information?

Item: a. 35) Describe management accounting and financial accounting. Answer: Management accounting provides information to internal decision makers of the business such as top executives, managers, sales representatives, and production supervisors.

Which of the following actions should a management accountant take first in confronting?

Which of the following actions should a management accountant take first in confronting a potential ethical conflict concerning your direct supervisor? Follow the organization’s procedures concerning resolution of such a conflict.

Which is a characteristic of managerial accounting?

Managerial accounting provides detailed financial and nonfinancial information for internal users who use the information for decision making, planning, and control purposes.

What is the difference between a financial accounting information system and a cost management information system?

Cost accounting involves the preparation of a broad range of reports that management needs to run a business. Purpose: The readers are exclusively internal management. Financial accounting involves the preparation of a standard set of reports for an outside audience.

Which phrase best describes the current role of the managerial accountant?

Which phrase best describes the current role of the managerial accountant? Managerial accountants facilitate the decision-making process within an organization.

What is the primary objective of management accounting?

The main objective of managerial accounting is to maximize profit and minimize losses. It is concerned with the presentation of data to predict inconsistencies in finances that help managers make important decisions. Its scope is quite vast and includes several business operations.

Which of the following are tools of management accounting?

Important tools and techniques used in management accounting

  • Financial Planning. The main objective of any business organization is maximization of profits.
  • Financial Statement Analysis.
  • Cost Accounting.
  • Fund Flow Analysis.
  • Cash Flow Analysis.
  • Standard Costing.
  • Marginal Costing.
  • Budgetary Control.

What are the tools of accounting?

Basic Accounting Tools for Small Business

  • Basic accounting software. With basic accounting software, you can record all your business’s transactions in the same place.
  • Invoicing software.
  • Business credit card.
  • Business bank account.
  • Financial calendar.
  • Accountant.

Is the use of management accounting compulsory?

Management accounting is normally used in big organization. Its optional and not mandatory.

Which of the following are not tools of management accounting?

Answer. Financial Planning. The main objective of any business organization is maximization of profits. Budgetary Control.

Which industry is suitable for using operating costing method?

Industries which are suitable or applicable for operating costing are; Transport service: Bus, taxi, truck, railways, etc. Welfare services: Canteens, hospitals, libraries. Utility suppliers: Gas, Electricity, water.