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business
management accounting

Questions and Answers of Management Accounting

Which peculiarities must be considered for a multi-product break-even analysis?AppendixLO1
How do the non-stochastic and the stochastic variations of the break-even analysis differ?AppendixLO1
Describe ‘risk measures’ derived from a break-even analysis. What are their problems?AppendixLO1
Can a break-even analysis in a single-product case be exclusively applied in a company with only one product?AppendixLO1
Which questions does a sensitivity analysis respond to, and which relationship exists between sensitivity and break-even analysis?AppendixLO1
Why is it important to explicitly consider aspects of uncertainty even for short-term decision problems?AppendixLO1
Show the relevance of fixed costs in different situations.AppendixLO1
Analyse the effects of uncertainty in production programme decisions AppendixLO1
Which consequences arise from dynamic cost relations for the determination of production strategies?AppendixLO1
What effects do market form and competition have on a company’s price setting? How can these effects be recognised?AppendixLO1
Under which conditions do cost-plus price determinations lead to optimal prices?AppendixLO1
What must be considered for the determination of the highest-price limit of an input factor?AppendixLO1
For what type of pricing decisions are decision trees applied?AppendixLO1
How does the consideration of interest effects change the lowest-price limit of long-term orders?AppendixLO1
Which types of substitutional or complementary effects exist between products? How do these have an effect on lowest-price limits and (cost-based) optimal prices of these products?AppendixLO1
How does the lowest-price limit (per unit) of a supplementary order behave with higher order amounts if the production costs per unit are constant and only potential capacity limitations
What are the cost elasticity and the learning rate in the context of the experience curve?AppendixLO1
For the determination of the lowest-price limit of a supplementary order with limited capacity, why must the optimal production programme be compared with the status quo?AppendixLO1
How do marginal costs differ from relevant costs?AppendixLO1
Under what circumstances is it meaningful to use the replacement costs of required raw materials for the lowest-price limit of a product?AppendixLO1
How do price limits differ for the buyer and the seller of a product?AppendixLO1
Understand the influence of competition on prices.AppendixLO1
Analyse the influence of fixed costs on price setting AppendixLO1
Derive optimisation criteria and conditions for pricing decisions AppendixLO1
Determine lowest-price limits and highest-price limits AppendixLO1
Identify the relevant costs of price limits AppendixLO1
How can the basic approach of ‘pure’ production programme decisions be modified for the inclusion of the procedural decisions?AppendixLO1
In which way can opportunity costs be helpful to support decision-making?AppendixLO1
How can opportunity costs be classified?AppendixLO1
How do the solution structures of linear and non-linear problems of the production programme decision differ?AppendixLO1
How can the optimal production policy be determined with at least two effective multiple-product restrictions? What characteristic features of the solution structure are utilised?AppendixLO1
Why cannot the Virtual-product rule be used in the case of progressive contribution margin jumps and one effective multiple-product restriction?AppendixLO1
What is the so-called Virtual-product rule?AppendixLO1
Why are specific contribution margins used in the case of one effective multiple-product restriction?AppendixLO1
How can the optimal production policy be generally characterised without an effective multiple-product restriction?AppendixLO1
Why is the distinction of the planning problems important according to their effective multiple-product restrictions?AppendixLO1
How can the restrictions of a production programme decision problem be classified?AppendixLO1
What is the contribution margin per unit, and how can it be interpreted?AppendixLO1
When may absorbed costing lead to wrong decisions?AppendixLO1
Which general conditions characterise the problems of production programme decisions? Which preference types thereby become dispensable?AppendixLO1
Understand the contents and the use of different opportunity cost concepts.AppendixLO1
Analyse the influence of fixed costs on the optimal decision AppendixLO1
Determine the optimal short-term production programme with and without capacity restrictions using appropriate procedures AppendixLO1
Why, and under what conditions, can ‘incorrect’ information be productive for management accounting?AppendixLO1
How would you judge the following behaviour? Marc Harding is notoriously always late. He feels guilty about it and, therefore, puts his wristwatch forward by 5 minutes.AppendixLO1
What conditions are required for management accounting to fulfil the behavioural control function?AppendixLO1
Why does the behavioural control function depend on the company’s organisation/structure?AppendixLO1
What is the relationship between financial (external) and management (internal) accounting?AppendixLO1
How do cash outflows, expenditures and costs differ from each other?AppendixLO1
Analyse management accounting and its use for short-term decision-making AppendixLO1
Understand why and what types of simplifications are necessary in designing management accounting systems AppendixLO1
Discuss the decision support and the behavioural control functions of management accounting AppendixLO1
Illustrate the contents and main focus of management accounting AppendixLO1
1 Determine the acceptability of an investment project using the net present value method
2 Determine the acceptability of an investment project using the internal rate of return method
3 Compare the net present value and internal rate of return methods
4 Determine the payback period for an investment
5 Compute the simple rate of return for an investment
10–1 Why can’t accounting profit figures be used in the net present value and internal rate of return methods of making capital budgeting decisions?
10–2 Why are discounted cash flow methods of making capital budgeting decisions superior to other methods?
10–3 What is net present value? Can it ever be negative? Explain.
10–4 Identify two simplifying assumptions associated with discounted cash flow methods of making capital budgeting decisions.
10–5 If a firm has to pay interest of 14% on long-term debt, then its cost of capital is 14%. Do you agree? Explain.
10–6 What is meant by an investment project’s internal rate of return?How is the internal rate of return computed?
10–7 Explain how the cost of capital serves as a screening tool when dealing with (a) the net present value method and (b) the internal rate of return method.
10–8 What is meant by the term payback period? How is the payback period determined?
10–9 How can the payback method be useful to the manager?
10–10 What is the major criticism of the payback and simple rate of return methods of making capital budgeting decisions?
E10–1 Consider each of the following situations independently. (Ignore income taxes.)1 In three years, when he is discharged from the Air Force, Steve wants to buy a power boat that will cost
E10–2 Time allowed: 15 minutes Each of the following parts is independent. (Ignore income/corporation taxes.)1 The Atlantic Medical Clinic can purchase a new computer system that will save £7,000
E10–3 Time allowed: 15 minutes Perot Industries has £100,000 to invest. The company is trying to decide between two alternative uses of the funds. The alternatives are:The working capital needed
E10–4 Time allowed: 30 minutes Complete the following cases (ignore income taxes).1 Preston Company requires a minimum return of 14% on all investments.The company can purchase a new machine at a
E10–5 Time allowed: 30 minutes Solve the three following present value exercises:1 The Cambro Foundation, a non-profit organization, is planning to invest£104,950 in a project that will last for
E10–6 Time allowed: 10 minutes A piece of labour-saving equipment has just come onto the market that Mitsui Electronics Ltd could use to reduce costs in one of its plants in Japan.Relevant data
E10–7 Time allowed: 10 minutes Nick’s Novelties Ltd is considering the purchase of electronic pinball machines to place in amusement houses. The machines would cost a total of£300,000, have an
P10–8 Basic net present value analysis Time allowed: 20 minutes Joyce Mines of Ireland is contemplating the purchase of equipment to exploit a mineral deposit that is located on land to which the
P10–9 Basic net present value analysis Time allowed: 20 minutes The Sweetwater Candy Company would like to buy a new machine that would automatically ‘dip’ chocolates. The dipping operation is
P10–10 Simple rate of return; payback Time allowed: 30 minutes Paul Swanson has an opportunity to acquire a franchise from The Yogurt Place plc to dispense frozen yogurt products under The Yogurt
P10–11 Net present value analysis of a new product Time allowed: 50 minutes Matheson Electronics has just developed a new electronic device which, when mounted on a car, will tell the driver how
P10–12 Opening a small business; net present value Time allowed: 30 minutes In eight years, John Duncan will retire. He has £150,000 to invest, and is exploring the possibility of opening a
P10–13 Simple rate of return; payback Time allowed: 30 minutes Sharkey’s Fun Centre contains a number of electronic games as well as a miniature golf course and various rides located outside the
P10–14 Simple rate of return; payback; internal rate of return Time allowed: 30 minutes Honest John’s Used Cars plc has always hired students from the local university to wash the cars on the
1 Define the concepts of strategy and strategic management accounting
2 Understand the impact of corporate strategy on management accounting
3 Understand some basic strategic models and their relationship with management accounting techniques
4 Understand how a balanced scorecard fits together and how it supports a company’s strategy
11–1 Why is market share an important indicator to monitor?
11–2 What aspects of a competitor’s costs should be analysed in a strategic assessment?
11–3 What sources are useful for strategic intelligence gathering?
11–4 What is the difference between a prospector and a defender company?
11–5 What is the difference between a cost leader and a product differentiator?
11–6 What are the three steps/dimensions that combine financial and strategic analysis as proposed by Tomkins and Carr?
11–7 What are the implications of the ‘strategy as collision’ model?
11–8 Why does the balanced scorecard include financial performance measures as well as measures of how well internal business processes are doing?
11–9 What is the difference between the delivery cycle time and the throughput time? What four elements make up the throughput time? Into what two classes can these four elements be placed?
11–10 Why does the balanced scorecard differ from company to company?
E11–1 Time allowed: 20 minutes Management of Mittel Rhein AG of Köln, Germany, would like to reduce the amount of time between when a customer places an order and when the order is shipped. For
P11–2 Perverse effects of some performance measures There is often more than one way to improve a performance measure.Unfortunately, some of the actions taken by managers to make their performance
P11–3 Strategic analysis Time allowed: 45 minutes M-HK provides a passenger ferry service between two large cities separated by the mouth of a major river. The ferries are frequent, well-supported
P11–4 Strategic analysis Time allowed: 45 minutes R is a large high-class hotel situated in a thriving city. It is part of a worldwide hotel group owned by a large number of shareholders. The

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