Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Cost Accounting ch.1

Management accounting profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting
Strategy A plan for using a firm’s resources to achieve sustainable goals within a competitive environment
difference between financial and cost. cost focuses on... Internal users Emphasis on usefulness and timeliness, key characteristics of decision-relevant information
Four Functions of Management Strategic management Planning and decision-making Management and operational control Preparation of financial statements
Strategic management Most important management function Involves identifying and implementing goals and action plans to maintain a competitive advantage Monitoring of Critical Success Factors (CSFs) is necessary
Planning and decision-making Information is needed to support recurring decisions such as scheduling production and pricing Information is needed for short-run planning (budgeting) and profit planning (Cost-Volume-Profit analysis)
Management and operational control Information is needed to identify inefficient operations and reward effective management practices
Preparation of financial statements Information is needed to guarantee compliance with regulatory reporting requirements
Changes in the Contemporary Business Environment Shift to a global business environment Lean Manufacturing(Just in time) Importance of information technology Focus on the customer Shifts in management organization Social, political, and cultural considerations
Created by: jwils111