A. Describe Managerial Accounting Basics: 1. 2. B. Comparing Managerial and Financial Accounting. 1. The distinguishing features of managerial accounting are: a. b. c. d. e. c. Management Functions. 1. Manager's activities and responsibilities can be classified into three broad functions: a. b. D. Organizational Structure. 1. Most companies prepare organization charts to show: a. b. 2. 3. Stockholders own the corporation, but they through a board of directors they elect. The chief executive officer (CEO) has overall responsibility for responsibility to other officers. but Responsibilities within a company are classified as either (provide explanation): b.. 5. The chief financial officer (CFO) is responsible for: E. b. Manufacturing Costs. Manufacturing costs are classified as direct 1 materials b. 2. direct labor b. 3. manufacturing overhead F. Product Versus Period Costs. 1. Product costs are: a. b. 2. Period costs are: a. G. Manufacturing Costs in Financial Statements. The principal differences in a manufacturer's financial statements 1. a. b. 2. Manufacturers compute cost of goods sold by 3. The balance sheet for a manufacturing company may have three inventory accounts: a. b. C. H. Managerial Accounting Today. 1. Managerial accounting has experienced many changes in recent years including shift toward 2. The value chain refers to 3. Describe just-in-time (JIT) inventory method 4. What are total quality management (TQM) systems? What are benefits? 5. What is the theory of constraints? 6. How does enterprise resource planning (ERP) software systems help a business? 5. What is activity-based costing (ABC)? 6. Describe the balanced scorecard approach? 6. Describe the balanced scorecard approach? 7. Many companies have begun to evaluate not just corporate profitability but also corporate social responsibility. Corporate social responsibility considers a company's I. Business Ethics. 1. What is the Sarbanes-Oxley Act of 2002? a. b. c