1. I as the operations manager cut a product line out of the business due to a loss in total line profits year over year. Discuss any concerns.
2. I'm planning to open a car manufacturing business. What would you advise I understand before starting? (keep it simple; think of beginning topics covered)
3. Which two Accounts in "the books" are only used temporarily (AKA "zeroed out") during the year/then adjusted at year-end when allocating costs?
4. Read this statement; I trust an Income Statement over a Cashflow Statement for operating my business. Agree/disagree/thoughts?
5. Why would a company choose Simple over ABC costing?
6. Describe the differences between Simple and the ABC method of product line cost allocation methods. When in doubt, describe the actions not done in the Simple method portion of your ABC practice questions.
7. When in doubt, describe the actions not done in the Simple method portion of your ABC practice questions.
8. What question can be answered at the end of a fiscal year if Variance analysis has been completed?
9. Why do we have financial vs. managerial accounting; i.e explain how we approach each differently.
10. Do all companies need a cash budget? When would it not be particularly helpful do you think?
11. If you have/want to start your own business, tell me what it is. Do you foresee the use of any particular management accounting concepts taken from 211?