Comm 112

is accouting an art or a science

• art

• science

how old is accounting

• 3000 years old
• 1500 years old
• around 500 years old

• 100 years old

management accounting system consists of what?

• planning

• directing and motivating

• controlling

planning consists of

• Analyzing data, creating reports, and conducting surveys.
• identify alternatives, select the best alternative that further the org's objectives, develop budgets to guide progress toward the alternative

• Choosing a location, hiring staff, and marketing products.
• Implementing strategies, measuring performance, and reviewing policies.

directing and motivating are activities:

• Motivating is more important than directing in leadership.
• Leadership is solely about making decisions.
• employee work assignments, routine problem solving, conflict resolution, effective communications

• Directing and motivating are irrelevant to leadership.

decentralization is:

• Decentralization is the process of centralizing decision-making power.
• Decentralization is the delegation of decision-making authority throughout an organization

• Decentralization is the concentration of power in a single authority.
• Decentralization refers to the complete absence of any authority.

what is lean production

• Lean production is a manufacturing approach that emphasizes efficiency and waste reduction by creating products after orders.

• Lean production is a strategy for expanding workforce size.
• Lean production is a method for increasing product variety.
• Lean production focuses solely on maximizing profits.

ways to classify costs

• Type, size, location
• Material, color, shape
• Quantity, price, demand
• Behavior (fixed/variable), financial accounting (product/period), traceability (direct/indirect)

which is not a MOH

• sheet steel in a file cabinet made by the company

• manufacturing equipment depreciation

• idle time for direct label

• taxes on a factory building

which one is a direct cost

• Marketing expenses
• Administrative salaries
• Utility bills
• Raw materials used in production