1.Why is the balance sheet called the statement of financial position and what is the purpose of it?

2.What do you see as the fundamentals in regard to international financial management? Why?

3.Does managerial accounting have to follow GAAP?

4.How do managerial decisions affect managerial accounting?

5.What do you believe is the most important aspect of managerial accounting?

6.What type of information does managerial accounting provide?

7.What do you see as the fundamentals in regard to international financial management? Why?

8. Why are ratios and trends used in financial analysis?

9.What are standard costs? Is a standard different from a budget? What happens if they are set too high or too low?

10.A good cost accounting system is narrowly focused on a continuous reduction of costs.