Quiz

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Which of the following is a key concern of Kaizen costing?

Driving down actual cost

Achieving cost reduction targets (correct)

Increasing employee empowerment

Improving product quality

What is a key element of the Just-in-Time (JIT) philosophy?

Outsourcing production

Emphasizing quantity over quality

Maintaining high stock levels

Minimizing lead times (correct)

Which of the following is NOT a cost management approach associated with JIT?

Zero breakdowns

Zero inventory

High stock levels (correct)

Zero defects

According to the text, what is the main focus of strategic management accounting (SMA)?

Developing systems for performance management Signup and view all the answers

Which of the following is NOT mentioned as a strand of SMA in the literature?

Supply chain management tools Signup and view all the answers

What is the possible outcome of the Business Process Reengineering (BPR) process?

Radical change Signup and view all the answers

According to the text, what is one of the key concerns of Kaizen costing?

Improving product quality Signup and view all the answers

Which of the following is NOT a key element of the Just-in-Time (JIT) philosophy?

Outsourcing production Signup and view all the answers

According to the text, what is a cost management approach associated with JIT?

Zero inventory Signup and view all the answers

What is the main focus of strategic management accounting (SMA) according to the text?

Developing systems for performance management Signup and view all the answers

Which of the following is a critique of Strategic Management Accounting (SMA)?

SMA is not based on financial considerations Signup and view all the answers

According to the text, what is the 'paradox' of SMA?

SMA is happening within organizations but not led by the accounting function Signup and view all the answers

Which of the following techniques is NOT mentioned as part of SMA?

Financial statement analysis Signup and view all the answers

What is the main focus of Strategic Cost Management (SCM)?

Customer satisfaction Signup and view all the answers

Which approach to SCM is more recent and co-operative in nature?

Strategic Alliances Signup and view all the answers

What is the purpose of benchmarking in SCM?

To identify and compare against 'best practice' Signup and view all the answers

What does Business Process Re-engineering (BPR) involve?

Examining and making substantial changes to business processes Signup and view all the answers

What is the main focus of life-cycle costing in SCM?

Total costs incurred throughout the life-cycle of a product Signup and view all the answers

What is the main focus of target costing in SCM?

Product planning and design Signup and view all the answers

What industry is mentioned as an example of successful target costing implementation?

Automotive industry Signup and view all the answers

Which of the following best describes the impact of Strategic Management Accounting (SMA) on management accountants and managers?

SMA has had a major impact on the thinking of management accountants and managers. Signup and view all the answers

What is one factor that has contributed to the impact of SMA?

Influence of key SMA advocates Signup and view all the answers

How has SMA permeated other management disciplines?

SMA has had limited adoption and implementation in other management disciplines. Signup and view all the answers

What is one critique of SMA?

SMA has a narrow focus on cost management. Signup and view all the answers

What is one reason why SMA is often presented as an efficacious approach to strategy formulation and implementation?

SMA techniques can support different strategic approaches. Signup and view all the answers

Which of the following statements about SMA adoption and effectiveness in practice is supported by the text?

There is limited empirical evidence of SMA adoption and effectiveness in practice. Signup and view all the answers

What is one factor that influences the impact of SMA?

The variety in form and nature of SMA implementation. Signup and view all the answers

What is one characteristic of SMA practice?

SMA practice varies in form and nature. Signup and view all the answers

According to Langfield-Smith (2008), how can SMA be regarded?

SMA can be regarded as a success in MA practice. Signup and view all the answers

What is one reason why SMA is not necessarily related to superior performance?

SMA performance is contingent on match between factors and application. Signup and view all the answers