1. why do some companies need a cost accounting systemwhile
others do not? what are the determining characteristics or factor that
influence the type of cost accounting system that is appropriate for a company?
2. Your roommate is curious about the features of process
cost accounting. Identify and explain the distinctive features for your
3. how should mixed cost be classified in CVP analysis? What
approach is used to effect the appropriate classification?
4. Budgeting can be an important management tool if
implemented properly? Identify several positive results when budgets are used
properly. Since budgets affect people identify several nagative aspects if
budgets are not implemented properly?
5. What is a participative budgeting? What are the potential
benefits? what are the potential shortcomings?
6. Jane Oley is confused about how a flexible budget is
prepared. Identify the steps for Jane?
7. What is responsibility accounting? explain the purpose of
8. Explain the similarities and differences between
standards and budgets.
Contract the accounting for standards and budgets.
9. what are the four perspectives used in the balance
scorecard? Discuss the nature of each, and how the perspectives are linked.
10. Define the term opportunity cost. how may this cost be
relevant in the make or buy decision?