Accounting for Decision Makers
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | Information that can be verified
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| Relevant | show 🗑
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| Material | show 🗑
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| Conservatism | show 🗑
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| Order the steps in the decision cycle from first (1) to last (5). | show 🗑
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| Comprehensive income | show 🗑
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| Net Income | show 🗑
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| show | A measure of a company's performance that includes all items that are expected to continue into the future i
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| extraordinary items | show 🗑
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| Comprehensive income | show 🗑
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| show | a cornerstone of accrual accounting together with matching principle. They both determine the accounting period, in which revenues and expenses are recognized.
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| Revenue recognition | show 🗑
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| Expanded Accounting Equation | show 🗑
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| New Zealand | show 🗑
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| Statement of Cash Flows Categories are | show 🗑
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| show | Cash Receipts: Sale of goods , services, trading securities, interest revenue, and dividend revenue. Cash Payments: inventory purchases, Wages, Taxes, Interest expense, other expenses
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| show | Cash Receipts: Sale of planet assets, business segment, nontrading securities, collection of princip. on loads. Cash Payments: Purchase of plant assets, nontrading securities, making loans to other entities
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| Cash equivalents | show 🗑
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| show | Operating, investing, and financing
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| Financing Activities | show 🗑
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| show | Reported in a narrative or in a separate schedule
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| indirect method | show 🗑
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| direct method | show 🗑
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| show | 95% of large U.S. corporations use the________ when reporting cash from operating activities.
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| What is a cost that will change in the future based upon the decision made? | show 🗑
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| show | The benefits lost or forfeited as a result of selecting one alternative course of action over another.
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| Out-of-pocket Costs | show 🗑
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| Pro Forma | show 🗑
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| show | Costs that are past costs and do not change as a result of a future decision.
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| show | The way a cost is affected by changes in activity levels.
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| show | Numerical measure used to reflect the amount of a specific cost that is associated with a particular activity.
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| Cost Pool | show 🗑
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| Differential Costs | show 🗑
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| Direct Costs | show 🗑
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| show | Costs not directly related to a product, service, or asset. They are charged as expenses to the income statement in the period in which they are incurred.
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| show | Costs associated with products or services offered.
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| Activity-based Costing (ABC) | show 🗑
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| show | Activities that take place each time a unit of product is produced.
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| show | Activities that take place in order to support a product line, regardless of the number of batches or individual units produced.
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| show | Activities necessary to have a facility in order to participate in the development and production of products or services; activities are not related to any particular line of products or services.
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| show | Activities that take place in order to support a batch or production run, regardless of the size of the batch.
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| show | Planning
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| C-V-P analysis is useful to managers in | show 🗑
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Costs that contain both variable and fixed costs components.
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| show | Techniques for determining how changes in revenues, costs, and level of activity affect the profitability of an organization.
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Created by:
mschelle816