Corporate Social Responsibility in Managerial Accounting

The video tutorial introduces the concept of managerial accounting, emphasizing the importance of considering stakeholders in decision-making processes. It explains the difference between stakeholders and stockholders, and identifies various types of stakeholders such as customers, employees, suppliers, and the community. The tutorial highlights the need for managers to evaluate the impact of their decisions on these stakeholders.

What is a key consideration in managerial accounting when making decisions?

• Reducing operational costs

• Considering the needs of stakeholders

• Maximizing profits for the company

• Focusing solely on stockholders

Which of the following is NOT typically considered a stakeholder?

• Customers

• Employees

• Stockholders

• Competitors

How do stakeholders differ from stockholders?

• Stockholders are not interested in company performance

• Stockholders are a type of stakeholder

• Stakeholders have no financial interest in the company

• Stakeholders are only external to the company

Which group is considered a stakeholder due to their interest in human rights?

• Suppliers

• Stockholders

• Human rights advocates

• Competitors

Why must managers consider the effects of their decisions on stakeholders?

• To understand the broader impact on all interested parties

• To increase short-term profits

• To enhance the company's public image

• To ensure compliance with legal standards