An Overview Flashcards
Managerial accounting helps managers perform three vital activities:
planning, controlling, and decision making
The management activity of __________ includes specifying how to achieve established goals.
planning
Management’s detailed plans for the future are often expressed formally in a(n) ________.
budget.
Gathering feedback needed to ensure that expectations are being met is part of _________.
controlling
A performance report:
- helps identify and eliminate sources of unsatisfactory performance.
- can be used to help evaluate and rewards employees.
Dysfunctional behavior in employees can occur with _____ incentives.
extrinsic
Preventive controls include:
- authorizations
- segregation of duties.
Effective preventive and detective controls:
helps a company reduce its risk.
A ________ is a series of steps that are followed in order to carry out some task in a business.
business process3
A value chain adds value by focusing on the major functions of a business including:
- Research and development
- manufacturing
- customer service.
A benefit of the lean approach is:
fewer defects.
Customers, employees, suppliers, communities, and environmental and human rights advocates are all stakeholders which a company might have a corporate ______ ______ to serve
social responsibility
All people possess ______ biases or distorted thought processes that can adversely affect planning, controlling and decision making.
cognitive
True or false: Giving employees an annual bonus increases their intrinsic motivation to pursue company goals
False, extrinsic
Which of the following attributes is NOT required to be perceived as a credibile leader?
strong mentoring skills
