Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
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. Your email address is only used to allow you to reset your password. See 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.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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

Accounting 2

Introduction to Managerial Accounting

TermDefinition
American Institute of Certified Public Accountants The worlds largest association representing the accounting profession
Audit Committee A subcommittee of the board of directors that is responsible for overseeing both internal audits and the annual financial statement audit by independent CPAs
Board of Directors The body elected by shareholders to oversee the company
Budget Quantitative expression of a plan that helps mangers coordinate and implement the plan
Certified Management Accountant A professional certification issued by the IMA ti designate expertise in the areas of managerial accounting, economics, and business finance
Chartered Global Management Accountant A designation available to qualifying American Institute of Certified Public Accountants members that is meant to recognize the unique business and accounting skill set
Chief Executive Officer CEO, position hired by the board of directors to oversee the company on a daily basis
Chief Financial Officer CFO, the position responsible for all of the company's financial concerns.
Chief Operating Officer COO, the position responsible for overseeing the company's operations
Controller The position responsible for general financial accounting, managerial accounting, and tax reporting
Controlling One of management's primary responsibilities. Evaluate the results of a business operation against the plan while making adjustments
Cost Benefit Analysis Weighting cost against benefits to help make decisions
Cross-Functional Teams corporate teams whose members represent various functions of the organization
Decision making identify possible coursed of action and choosing among them
Directing One of management's primary responsibilities. , running the company on a day-to-day basis
Enterprise Resource Planning ERP, software systems that can integrate all of a companies worldwide functions, departments, and data into a single system
Extensible Business Reporting Language A data tagging system that enables companies to release financial information in a format that can be quickly analyzed over the internet.
Institute of Management Accountants The professional organization that promotes tehe advancement of the management accounting profession
Integrated Reporting A process resulting in a report that describes how a company is creating values over time using financial, manufactured, intellectual, human, social, and natural capital
Internal Audit Function The corporate function charged with assessing the effectiveness of the company's internal controls and risk management policies
International Financial Reporting Standards IFRS,
Just-In-Time An inventory philosophy first introduced by Toyota in which a product is manufactured just in time to fill a customers order
Lean Thinking A philosophy and business strategy o operating without waste
Planning One of management's primary responsibilities. , setting foals and objectives for the company and deciding how to achieve them
Sarbanes-Oxley Act A congressional act that enhances internal control and financial reporting requirements and established new regulatory requirements for public traded companies and their independent auditors
Sustainability The ability to meet the needs of the present without compromising the ability of future generations to meet their own needs.
Throughput Time The Time between buying raw materials and selling finished products
Totally Quality Management TQM, a managemnt philosophy of delighting customers with superior produce and ervices by continual setting higher goals and improving the performance of every business function
Treasurer The position responsible for raising the firm's capital and investing funds
Triple Bottom Line Evaluating a company's performance not only by its ability to generate economic profits but also by its impact on people and on the planet
Created by: Brig34828
Popular Accounting sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards