Chapter 1 Questions - English.pdf

11/13/2014 McGraw-Hill Connect - Ebook Managerial Accounting, eBook 14/e Content Chapter1: Managerial Accounting: An Overview Questions 1-1 How does managerial accounting differ from financial accounting?...

11/13/2014 McGraw-Hill Connect - Ebook Managerial Accounting, eBook 14/e Content Chapter1: Managerial Accounting: An Overview Questions 1-1 How does managerial accounting differ from financial accounting? 1-2 Pick any major television network and describe some planning and control activities that its managers would engage in. 1-3 If you had to decide whether to continue making a component part or to begin buying the part from an overseas supplier, what quantitative and qualitative factors would influence your decision? 1-4 Why do companies prepare budgets? 1-5 Why is managerial accounting relevant to business majors and their future careers? 1-6 Why is managerial accounting relevant to accounting majors and their future careers? 1-7 Pick any large company and describe its strategy using the framework in the chapter. p. 20 1-8 Why do management accountants need to understand their company's strategy? 1-9 Pick any large company and describe three risks that it faces and how it responds to those risks. 1-10 Provide three examples of how a company's risks can influence its planning, controlling, and decision-making activities. 1-11 Pick any large company and explain three ways that it could segment its companywide performance. 1-12 Locate the website of any company that publishes a corporate social responsibility report (also referred to as a sustainability report). Describe three nonfinancial performance measures included in the report. Why do you think the company publishes this report? 1-13 Why do companies that implement Lean Production tend to have minimal inventories? http://connect.mheducation.com/connect/hmEBook.do?setTab=sectionTabs 1/2 11/13/2014 McGraw-Hill Connect - Ebook 1-14 Why are leadership skills important to managers? 1-15 Why is ethics important to business? Multiple-choice questions are provided on the text website at www.mhhe.com/garrison14e. 2012 McGraw-Hill Higher Education Any use is subject to the Terms of Use and Privacy Notice. McGraw-Hill Higher Education is one of the many fine businesses of The McGraw-Hill Companies. http://connect.mheducation.com/connect/hmEBook.do?setTab=sectionTabs 2/2