MAS - Objectives, Role & Scope of Management Accounting

This consists of identifying alternatives, selecting from among the alternatives the one that is best for the organization, and specifying what actions will be taken to implement the chosen alternative.

• Controlling

• Planning

• Directing

• Motivating

The accounting and other reporfs coming to management that are used in controlling the organization are called:

• Feedback

• Performance report

• Budget

• Financial accounting

The delegation of decision-making authority throughout an organization by allowing managers at various operating levels to make key decisions relating to their area of responsibility is called

• Planning

• Directing

• Control

• Decentralization

A position on the organization chart that is directly related to achieving the basic objectives of an organization is called

• a line position.

• a staff position.

• chief financial officer.

• controller.

A _________ provides service or assistance to other parts of the

organization and does not directly achieve the basic objectives of the

• 1. a line position.

• 1. a staff position.

• chief financial officer.

• controller.

A detailed report to management comparing budgeted data to actual data for a specific time period is called a

• budget.

• planning report.

• performance report.

• controller's report.

A member of the top management team who is responsible for providing timely and relevant data to support planning and control activities and for preparing financial statements for external users.

• Chief Financial Officer

• Controller

• Management Accountant

• Treasurer

Managerial accounting places less emphasis on __________________ and more emphasis on _____________ than financial accounting.

• Planning; Nonmonetary data

• Budgets; Estimated data

• Precision; Nonmonetary data

• Estimates; Actual data

The delegation of decision-making authority throughout an organization by providing managers at various operating levels with the authority to make key decisions relating to their area of responsibility.

• Decentralization

• Assignment

• Monitoring

• Control

Accounting and other reports that help managers monitor performance and focus on problems and/or opportunities that might otherwise go unnoticed.

• Feedback

• Performance report

• Budget

• Financial accounting