ADMS2510-Wk1

Which specialization ("stream") are you interested in?

• Accounting

• Finance

• Management

• Not yet decided

Are you considering to pursue one of the following professional designation?

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• 
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What does accounting mean to you?

What is management accounting?

Match the following characteristics to the appropriate competitive strategy

Groups:

(a) Differentiation

,

(b) Cost Leadership

• Has the essential

• High quality

• Customer focus

• Innovative

• Low cost & price

Organize these options into the right categories

Groups:

(a) Differentiation

,

(b) Cost Leadership

• 
• 
• 
• 
• 
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What makes up the balance scorecard?

• Strategy

• Critical Success Factors

• 4 perspectives (financial, customer, internal process and learning & growth)

• Metrics

• Targets

Answer explanation

The balanced scorecard consists of Strategy, Critical Success Factors, 4 perspectives (financial, customer, internal process, and learning & growth), Metrics, and Targets, all essential for performance measurement.

If you are a store manager of a bakery, match the following cost to the appropriate cost category

Groups:

(a) Direct Material

,

(b) Direct Labour

,

(c) Fixed Overhead

,

(d) Variable Overhead

• Eggs

• Baker hourly wage

• Depreciation of oven

• Store manager salary

• Cleaning rags for the bakery

If your bakery now includes a café area, give one (1) example of an overhead cost and one (1) cost driver that you will use to assign the cost between the bakery and the café.

Please put the manufacturing cost flow in order (ascending):

• Conversion

• Finished Goods

• Materials used

• Cost of goods manufactured

• Cost of goods sold