ch.10

Question 1

why is there an accounting focus in mgmt?

Answer 1

to make and implement strategy for cap budgeting, operational budgeting, and performance eval

Question 2

What are two mgmt control activities

Answer 2

1. preparing operating budgets

2. eval performance

Question 3

What is capital budgeting

Answer 3

identifying, eval, and selecting projects that require a lot of time and money

Question 4

name the steps of the capital budgeting process

Answer 4

1. project identification
2. eval and selection
3. monitoring and review

Question 5

What are capital budgeting techniques

Answer 5

payback period
ROI
NPV
IRR

Question 6

3 most common transactions for operational budgeting

Answer 6

actual at time of budget
projected at time of budget
actual at end of budget