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business
management accounting

Questions and Answers of Management Accounting

At the end of 2015, the income statement of the Fast Eaters Spot indicated revenues of €5,025,000 and at the end of 2016; it indicated revenues of€5,400,000. The relative difference in revenues
At the end of 2015, the income statement of the Fast Eaters Spot indicated revenues of €5,025,000 and at the end of 2016; it indicated revenues of€5,400,000. The absolute difference in revenues
The type of balance sheet analysis that compares the balance sheets of several periods with the balance sheet of one selected period is called:a base year analysis b common size analysis c horizontal
Which of the following will be included in common size balance sheets?a current assets as a percentage of current liabilities b current assets as a percentage of total assets c the absolute
The type of balance sheet analysis that will set total assets at 100% is called:a base year analysis b comparative analysis c horizontal analysis d vertical analysis
Using the basic rule of thumb is assessing changes in working capital, a decrease in accounts payable is shown in the cash flow statement designed on an indirect basis as an __________ of cash in the
In the cash flow statement, transactions related to accounts receivable and accounts payable will be used when establishing the net cash flows related to:a financing activities b investing activities
In the cash flow statement, which of the following will be used in assessing the net cash flow from financing activities?a payments of accounts payable b payments to acquire property and equipment c
Which of the following will not be included in a cash flow statement?a a new long term loan b interests paid in the period c new dividends declared d purchase of land
Which of the following stakeholders will consider using a company’s statement of cash flows to assess its ability to generate enough cash from its operations?a creditors b investors c suppliers d
A motel uses the periodic inventory system to evaluate their office supplies.You are provided with the following information:Purchases for the year € 26,000 Supplies used during the year € 34,200
Use the information that is contained in Exercise 4.2. You are informed that the company applies an annual depreciation proportion for such equipment of 32%. Establish the annual depreciation
New equipment was purchased at a cost of €32,000 and it has an assumed economic life of 7 years. It is expected that at the end of its economically useful life the company can receive €2,800 when
The management of the Rolling Hills Hotel uses the periodic inventory system to evaluate their guest supplies. On December 31st 2016, the balance showed an amount of €8,000. You are informed that
The salvage value is not taken into consideration in the following common depreciation method:a declining balance method of depreciation b linear method of depreciation c straight line method of
Adjustments for depreciation and amortization are made based on the following convention:a the matching convention b the realization convention c the recognition convention d none of the above
The allowance for bad debts is created in situations whereby a the company has cleared the bad debts from their records b the company thinks they might collect a part of the debt c there is a
The recognition convention is also called the:a the accruals convention b the matching convention c the realization convention d none of the above
The accounting convention that indicates that a transaction should be recognized in the period in which it took place is:a the accruals convention b the realization convention c the recognition
Based on the USALI, payroll and related expenses as shown on the income statement include:a fringe benefits b payroll taxes c salaries and wages d all of the above
Which of the following will not be shown as an undistributed operating expense in an income statement destined for internal purposes and based on the USALI?a administrative and general expenses b
Which of the following questions cannot be answered when analyzing the information presented in an income statement?a How much was spent to pay salaries during the period?b What was the cash balance
The amount of assets consumed during the performance of business operations in a period while delivering or producing goods and services will be shown in the income statement as:a gains b losses c
What an organization generates from activities, other than its primary business activity, will be shown in its income statement as:a expenses b gains c losses d revenues
Using its balance sheet as established in 2.3, describe what type of company you think the Sense of Taste Restaurant is. How could you make the difference?
Based on the USALI format of the balance sheet, classify the following accounts into the major categories Accounts payable Accounts receivable Accrued expenses Accumulated depreciation and
The total assets of a hospitality company are €2,150,875.00 and its total liabilities are €1,350,000.00. What amount is the owners’ equity?
Deferred management fees are reported in the balance sheet under:a current assets b current liabilities c other assets d long term liabilities
Under which category are temporary cash investments reported in the balance sheet?a current assets b current liabilities c investments d other assets
The section of the balance sheet that changes with the type of company is:a assets b current liabilities c long term liabilities d owners’ equity
Which of the following is not a characteristic of a liability?a liabilities obligate the borrower b liabilities represent a responsibility still to be honoured c liabilities result from all types of
Which of the following items will not be shown in the balance sheet of a hotel?a accounts payable b accrued taxes c customer loyalty value d intangible assets
Write brief explanations on the following types of hospitality operations:· Airport hotels· Bed-and-breakfast inns· Casino hotels· Conference hotels· Extended-stay hotels· Guesthouses· Resort
Which branch of accounting is best described by each statement below?· This branch of accounting is unregulated but mostly based on cost/benefit analysis.· The type of data in this branch is mostly
Match the following situations with the accounting principle that best applies. In some cases, more than one principle may apply.Conservatism Materiality Consistency Monetary unit Cost Objectivity
Fill in the blanks below with the accounting principle that best applies.Business entity Matching Conservatism Materiality Consistency Monetary unit Cost Objectivity Full disclosure Realization Going
One of the basic purposes of managerial accounting is to provide information to various management levels in order to:a be better equipped for the management and control functions b determine the
Which of the following branches of accounting is often limited to preparing and distributing financial reports?a auditing b cost accounting c financial accounting d managerial accounting
The generally accepted accounting principle that supports recording the value of a property at the purchase price when the market value is higher is the:a conservatism principle b cost principle c
The full disclosure principle of accounting is:a the assumption that the accounting entity will maintain proper accounting records from the date of its establishment to the date of its liquidation b
Which of the following is one of the key characteristics of the hospitality industry?a consistent activity level throughout the year b long distribution channels c low barriers to entry for capital
Under which conditions, and why, can it be profitable to employ a manager and to impose on him a transfer price above the costs for the internal transfers?AppendixLO1
What advantages could divisions identify for arranging a given cost division plan?AppendixLO1
How can the allocation of fixed costs be economically justified for divisions that do not make the decision that causes these fixed costs themselves?AppendixLO1
What advantages and disadvantages does a cost allocation based on the aver age principle, have?AppendixLO1
What types of transfer prices can be derived in an agency model?AppendixLO1
Many companies impose a so-called last call principle, according to which, the supplying division can receive the same conditions as an external customer of the buying division. What advantages and
Can head office force the divisions to always report truthfully? If so, is this more favourable or unfavourable for head office than a situation in which the divisions can supply distorted
Transfer prices, which are negotiated by the divisions involved, potentially cause conflicts. A company determines the following conciliation procedure: if the divisions do not agree within an
What is the reason that causes a dual transfer price system to achieve optimal coordination? Can it be profitable for a division to distort its information, and if so, in which direction?AppendixLO1
Does the supplying division with a marginal cost-based transfer price always incur a loss, and if so, how could the transfer price be modified to exclude this?AppendixLO1
When do marginal cost-based transfer prices lead to optimal coordination?AppendixLO1
Can the use of the market price as a transfer price lead to arbitrary profit allocations of the affected divisions?AppendixLO1
What causes the difference between a market-based transfer price with or without sales and purchase limits for the intermediate product at the external market?AppendixLO1
Under which circumstances does coordination by the market not lead to the total company profit optimum?AppendixLO1
To what extent does a conflict exist between the different functions of transfer prices?AppendixLO1
Discuss (in general) incorrect decisions caused by transfer prices, incorporating behavioural effects into the analysis of the decision problems and understand the effects resulting from asymmetric
Determine optimum transfer prices in a Nash equilibrium AppendixLO1
Show how to solve the capacity adjustment problem by using transfer prices and how to correct (i.e. punish) untruthful reporting by a specific transfer pricing mechanism AppendixLO1
Take and compare an ex post and ex ante view on transfer prices AppendixLO1
Learn how to share risk under uncertainty and witness the resulting behavioural effects AppendixLO1
Discuss negotiated transfer prices as one type of transfer price AppendixLO1
See dual transfer prices as an optional choice for solutions possibly leading to optimum coordination and understand any difficulties and problems arising AppendixLO1
See the distortion of cost structures as a major argument against the use of full costs; apply an agency model based on full costs to show that the optimum transfer price is above marginal costs and
Understand marginal cost-based transfer prices for optimum coordination while being aware of the need to consider the problem of incentives and dysfunctional behaviour in the proposed solution
Discuss market-based transfer prices in perfect and imperfect markets and the influence of synergies AppendixLO1
Analyse cost-based, market-based and negotiated transfer prices (in different forms) and their suitability (in general)AppendixLO1
Understand the functions of transfer prices and cost allocations along with the underlying conflict between coordination and profit allocation AppendixLO1
Which effects can appear with bottom-up budgeting?AppendixLO1
What considerations must head office make for top-down budgeting? What is the influence of the uncertainty level on the optimality of budgets?AppendixLO1
How can the relations between productivity level and cost budgets be explained? Which role do incentive systems play?AppendixLO1
What is the meaning of the reporting principle, and which idea underlies it? Which relation exists between self-selection of head office and the possibility of getting appropriate
What is a master budget?AppendixLO1
What are the advantages of budgeting?AppendixLO1
What are the general components of incentive systems?AppendixLO1
In what way does personnel coordination overlay the non-personnel coordination?AppendixLO1
Why must conflicts of interest and asymmetric distributions of information be present together to cause a personnel coordination requirement?AppendixLO1
Can there be an assessment linkage (risk linkage) without a simultaneously existing risk linkage (assessment linkage)?AppendixLO1
When do stochastical dependences of surpluses of several company divisions not lead to risk linkage?AppendixLO1
How do joint resources and profit linkage differ?AppendixLO1
Under which assumptions can a budgeting department be held responsible for budgeting variances?AppendixLO1
What are external and internal variances within revenue control?AppendixLO1
What are induced variances?AppendixLO1
Can a single positive variance by the inclusion and allocation of partly responsible variances of higher order change the algebraic sign and become negative?AppendixLO1
Which measures can enclose implicit overlap problems in first-order variances?AppendixLO1
Are variances determined by the use of the symmetric method or the cumulative method always higher than the variances according to the method of differentiation?AppendixLO1
How does a third-order variance originate, and how can it be interpreted?AppendixLO1
What is the relationship between the function of control and the determination of the budgeted measures?AppendixLO1
Describe causes of variances and how they can be categorised.AppendixLO1
What are the different methods to allocate pre-production and post-production costs, and for which situations are they suitable?AppendixLO1
Can target costing support optimal decisions about prices and sales volumes of a product to be newly launched?AppendixLO1
In which decision situations can the use of target costing be meaningful, and why?AppendixLO1
What are the effects of a diversification strategy on the determination of product costs?AppendixLO1
How is complexity measured as a cost driver in activity-based costing?AppendixLO1
What type of external information is meaningful for a company’s cost management?AppendixLO1
How do strategic cost drivers differ from (‘traditional’) cost allocation factors?AppendixLO1
What are the advantages of a value chain analysis compared to the ‘traditional’ cost and management accounting system?AppendixLO1
How do the requirements of the cost and management accounting system relate to the strategic position of a company?AppendixLO1
Why is the cost accounting system often used for strategic decisions rather than investment appraisal?AppendixLO1
An article by Miller and Morris (1985) deals with the conditions of a multi-product break-even analysis with uncertain contribution margins. The analysis takes place in two steps. In the first step,

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