حازم عواد مجالي
2007-05-01, 12:38 PM
اعزائي هذا ملف لمقدمة في محاسبة التكاليف المتقدمة باللغة الانجليزية وهو يشمل الاهداف واسئلة متنوعة بحيث يتم فهم الموضوع من خلال الاجابة على الاسئلة ارجو فتح الملف المرافق
ولكم امنياتي بالتوفيق
حاوم عواد المجالي
Chapter 1: The Accountant’s Role in the Organization
Objectives
1. Describe how cost accounting supports management accounting and financial accounting.2. Understand how management accountants affect strategic decisions.3. Distinguish between the planning and control decisions of managers.4. Distinguish among the problem-solving, scorekeeping, and attention-directing roles of management accountants.5. Identify four themes managers need to consider for attaining success.6. Describe the set of business functions in the value chain.7. Describe three ways management accountants support managers.8. Understand how management accounting fits into an organization’s structure.9. Understand what professional ethics mean to management accountants.
The Accountant's Role in the... True or False
1 . Management and financial accounting have the same goals. [Hint] True False
2 . Cost accounting provides information for only financial accounting purposes. [Hint] True False
3 . The budget is the qualitative expression of the proposed management plan of action. [Hint] True False
4 . The value chain describes the flow of goods, services, and information from the purchase of materials to the delivery of products to consumers, regardless of whether those activities occur in the same organization or with other organizations. [Hint] True False
5 . An example of the cost-benefit approach is that resources should be spent if they will better attain the company's goal in relation to the expected costs of those resources. [Hint] True False
The Accountant's Role in the... Multiple Choice
1 . Which one of the following would be considered a user of management accounting information? [Hint] Stockholders
Controller
Creditors
Suppliers
2 . Which one of the following would be considered an external user of the firm's accounting information? [Hint] President
Controller
Stockholder
Sales manager
3 . The production and purchasing technique that involves producing or purchasing the item immediately as it is needed is the tool known as [Hint] total quality management
just-in-time
planning
computer-integrated manufacturing
4 . A resource that will likely be turned into cash in less than one year is a (an) [Hint] current asset
long-term asset
intangible asset
productive asset
5 . Planning involves all of the following activities except for [Hint] selecting organization goals
predicting results under various alternatives
communicating the goals to the organization
implementing the decisions
6 . The planning process and the control process are linked by [Hint] predictions
feedback
budgets
marketing
7 . For strategic decisions and planning decisions, the role that is most prominent is the [Hint] problem-solving role
attention-directing role
scorekeeping role
implementation role
8 . Each of the following is a key theme in management decision making except for [Hint] customer focus
key success factors
cost accounting
continuous improvement and benchmarking
9 . Measuring the quality of products, services, and activities against the best levels of performance found in competing companies would occur in which one of the key themes in management decision making? [Hint] Customer focus
Key success factors
Continuous improvement and benchmarking
Value-chain and supply-chain analysis
10 . The chief financial officer is also known as the [Hint] controller
auditor
finance director
staff accountant
The Accountant's Role in the... Fill In The Blanks
1 . _____ accounting systems provide information for management and financial accounting. [Hint] Cost
Cash
Accrual
Budget
2 . _____ specifies how an organization matches its own capabilities with the marketplace opportunities to accomplish its objectives. [Hint] Budget
Strategy
Marketing
Feedback
3 . Managers match their knowledge of the _____ and _____ that exist in the industry with the resources and capabilities of their company. [Hint] strengths, weaknesses
strengths, threats
opportunities, strengths
opportunities, threats
4 . _____ is an example of a long-term productive asset. [Hint] Cash
A patent
A computer
Inventory
5 . The control process involves taking actions that _____ the planning process decisions. [Hint] implement
selecting
predict
communicate
6 . _____ involves accumulating data and reporting results to all management levels that describe how the organization is doing. [Hint] Problem solving
Scorekeeping
Attention directing
Planning
7 . Innovation and quality would be considered under the _____ theme that a manager considers for attaining success. [Hint] customer focus
key success factors
value-chain and supply-chain analysis
continuous improvement and benchmarking
8 . An important guideline in helping management accountants provide the most value when problem solving is to recognize the _____ considerations as well as the technical considerations. [Hint] cost
behavioral
benefit
Expense
9 . The _____ is responsible for the management and financial accounting information provided for decision-making purposes. [Hint] treasurer
auditor
finance director
controller
10 . An example of the characteristic of _____ would be to avoid actual or apparent conflicts of interest. [Hint] competence
confidentiality
integrity
objectivity
The Accountant's Role in the... Essay Questions
1 . Describe the planning system, the control system, and how feedback provides the link between the two systems. To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
Bypassing Purchasing Controls
A manager discovers a credit card statement with suspicious supporting invoices and requests the internal auditing department to investigate. Several transactions on the statement's itemized listing fall just under the company's $5000 threshold for use of procurement cards. With several of these items, the manager believed the employee might be trying to bypass the company's purchase order controls. The manager felt certain that the employee convinced the supplier to bill a larger purchase with several invoices that were each less than $5000. At that time, the manager contacted the internal auditing department, which took over the investigation.
As the auditors began investigating the suspicious invoices, they realized that the supplier's address and phone number did not appear in the heading of the invoice. As they looked at the invoices in more detail, they were convinced that the invoices were produced on a color printer. The auditors then obtained a list of all credit card purchases made by this employee over the past year. Many were just under the $5000 threshold. As the auditors continued their investigation, they obtained a phone number and called the supplier with most of the charges that were just under the threshold. In the course of conversation with an individual from the supplier's office, the auditors learned that the employee's wife was in a management position with the supplying firm.
To learn more about bypassing purchasing controls and the auditors broadened investigation in this case, log onto Accountants World and join Accountants World Today. The membership is free and will prove to be a valuable resource for students interested in financial and accounting issues. Once you have logged onto the website, the left sidebar will display a list of topic areas. Click on "Accounting" and look for the article titled "Purchasing Below the Radar."
1. What was the red flag that caused the manager to call for further investigation into the employee's purchasing transactions?
2. What did the internal auditors discover about the supporting invoices?
3. What did the internal auditors discover when they phoned the supplier?
4. The auditors decided to broaden the scope of their investigation of this employee's transactions. What did they investigate next?
5. What was the valuable lesson learned by senior management from this incident?
Economic Value Added and Capital Budgeting
Every day businesses are faced with a myriad of investment opportunities. Trying to decide which opportunities should be seized is a daunting task, but there are several analytic tools available. There are a variety of ways to evaluate capital investment projects, including payback period, accounting rate of return, net present value, internal rate of return, and the residual income approach. This exercise presents a new variant of the residual income approach; the economic value added (EVA) method. An explanation of the method is presented in an article entitled Economic Value Added: The Invisible Hand at Work. The article is published on the website of CRF (Credit Research Foundation). The CRF is an independent, non-profit, member-run organization that provides education and research publications, forums, and networking opportunities to member financial managers. Read the article and then answer the following questions:
1. What is the primary objective of a business? How does this objective relate to capital budgeting?
2. What is meant by the term capital in this article? What are two types (or sources) of capital?
3. What is the cost of capital? How is the cost of capital computed?
4. What is meant by the term economic value added (EVA)?
5. 5. How is EVA computed? How does EVA differ from residual income?
An Ethics Challenge Issued to Accountants World-Wide
The Institute of Managerial Accountants wants financial professionals worldwide to refocus and conduct all financial business with the highest ethical standards. Margaret Butler, President of the IMA, states that, "This step is crucial in restoring the world's confidence in reported financial results." The IMA has posted on its site the Ethics Challenge issued by Margaret Butler. The IMA is the premier organization for management accountants and financial managers. Members of the IMA are obligated by membership in the organization to uphold the Code of Professional Ethics.
While accounting improprieties at Enron, WorldCom and other companies have become public knowledge, the IMA stresses the obligation that management accountants have to the public, their profession, the organizations they serve, and themselves. They offer specific guidelines for ethics in the areas of competence, confidentiality, integrity, and objectivity. They suggest all accountants follow their model and uphold the highest ethical standards in the practice of their profession.
In general, ethics consists of human conduct relating to what is morally good or bad and what is right or wrong. To determine if a decision is a good or a bad decision, it must be compared to a standard. Standards must be well thought out and articulated to members of the profession. To help evaluate an ethical dilemma two questions emerge, "Will actions be fair and just to all parties affected?" and "Would I be pleased to have my closest friends learn of my actions?" Courses of action followed in ethical conflicts include:
· Discuss the problem with the immediate superior unless it appears that the immediate superior is involved. If it does appear that the immediate superior is involved, present the problem to the next higher managerial level. Work up to higher managerial levels if a satisfactory resolution cannot be achieved.
· Discuss relevant ethical issues with a confidential, objective advisor (e.g. the IMA Ethics Counseling service). You may need to consult your attorney regarding legal obligations and rights concerning the ethical conflict.
· If all preceding channels have been utilized and the conflict still exists, you may need to resign from the organization and submit an informative memorandum to an appropriate representative of the organization.
1. What are the ethical standards related to Competence?
2. What are the ethical standards related to Confidentiality?
3. What are the ethical standards related to Objectivity?
4. Are members of the IMA required to comply with the organization's Standards of Ethical Conduct?
5. When is it considered appropriate and when is it considered not appropriate to communicate ethical problems to authorities or individuals not employed or engaged by the organization?
The Big 5 Accounting Firms: Just What Do They Really Do?
When most people think about accounting as a career, they picture some dull person sitting in a back room debiting and crediting all day. With this view, it's no wonder that students do not choose accounting as a profession. Is this decision justified? Just what do the Big 5 Accounting Firms do? What services do they provide? It may surprise you to learn about these firms. Visit their websites and see that these are not the boring places that you thought they'd be.
Please be sure to bookmark this URL, the Big 5 Accounting Firms, before going to any of the specific Accounting firms. A few of the Accounting firm home pages do not allow you to use the back button to return to this URL.
Answer the following questions concerning the Big 5 Accounting Firms.
1. What are the Big 5 Accounting Firms?
2. What services are offered by Deloitte & Touche? From this firm's home page, click Services.
3. What services are offered by Ernst & Young? From this firm's home page, click United States in the Pull Down menu next to Start Here, then click About E&Y to view its services.
4. What services are offered by KPMG? From this firm's home page, click Services.
5. What services are offered by PricewaterhouseCoopers? From this firm's home page, click About us and then click Services to view its services
The Accountant's Role in the... Internet Exercises
Cost Accounting Fundamentals. Go to www.imanet.org and answer the following questions about the Institute of Management Accountants (IMA):
1. What is the IMA? To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
2a. What are the two professional designations offered by the IMA? To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
2b. What are the four primary objectives of the IMA professional-certification programs? To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
2c. How do you obtain a CMA or CFM professional designation? To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
3a. Describe the information available on the IMA's student Web site. To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
3b. Click on the "Campus Site Map" and then on the link, "How Do I Start My Career?" Describe how typical management-trainee and internship programs operate. To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
3c. Click on the "Campus Site Map" and then on the link, "How Do I Start My Career?" Describe the typical positions available to management-accounting trainees. To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
Spreadsheet Templates to Accompany Horngren/Datar/Foster Cost Accounting 11E
Templates by Albert Fisher
EXCEL TUTORIAL
The accompanying templates for Cost Accounting 11E were written with the user in mind. These templates are partially completed to allow students to concentrate on solving the problem and not worry about the formatting or the presentation of the answer. All cells that need to be completed by the student are shaded blue. Certain problems and exercises have no shaded cells, therefore, the student needs to complete the entire template. Students will need only minimal knowledge of spreadsheet techniques. I usually take one class period at the beginning of the semester to run through this tutorial with my class. I then go over the formulas from the first problem I assign from the chapter material to make sure students understand what is expected from them.
BASIC SKILLS:
Starting Excel is similar to starting other Windows applications. The following steps are required:
Launching Excel or Higher
Double click the Microsoft Excel icon from your desktop icons. If Excel does not have a desktop icon, then do the following:
a. Click Start to display the start menu.
b. Click Program to display the programs available on your computer.
c. Scroll down until you find the Excel program and double click on it.
d. If you are new to Microsoft Excel, the online Quick Preview lesson AGetting Started* should give you the basic knowledge to complete these templates.
Opening a Worksheet File
a. Make sure your student disk is in the disk drive. (This should be known as the “a* drive.)
b. There are two ways to open a worksheet file.
1. The first way is to click the Open File Button. Buttons are shortcuts for many worksheet tasks. We will be using some of these buttons to facilitate the student’s work. The three we will be using are Open, Print, and Save.
Opening a Worksheet File (continued)
2. The second way is to click File from the main menu bar and then Open to display the Open File dialog box. A dialog box is used to select options and identify data you want a command to work on.
c. Click the Drives drop-down list arrow to see the list of available drives.
The Open File dialog box will appear.
d. Select the drive where your student disk is located by clicking that drive. (We will assume this is drive a:)
e. Finally, click the file name you want to retrieve, then click OK. All file names refer to the corresponding problems in the book. For example, PO2-27 refers to Problem 2-27 from Chapter 2.
Completing a Template
A template is a pre-labeled worksheet that needs to be completed by filling certain cells with data.
Spreadsheets (Excel) are computer programs, which store data in cells. A cell is where a row and a column intersect. Rows are labeled numerically, and columns are labeled alphabetically.
There are only four things that can go into a cell.
1. A LABEL (TITLE) is descriptive text.
2. A FORMULA is the arithmetic used to calculate numbers displayed in the template.
3. A VALUE (AMOUNT) is a number, formula, or function.
4. A FUNCTION is a predefined formula.
To complete a template, a student will be asked to enter one of the above items into a cell.
Let’s look at different examples.
Completing a Template (continued)
LABEL EXAMPLE:
Assume the following template appeared on the screen:
A B C D E F G
1
2 Sales $100,000
3 TITLE 40,000
4 -----------
5 Gross Profit FORMULA
6
The student would move the cursor to B3 and type COST OF GOODS SOLD.
FORMULA EXAMPLES:
The student would move the cell pointer (indicates current cell location) to cell D5 and enter +D2-D3. Although no numbers were entered, we are instructing Excel to subtract whatever amount is in cell D3 from whatever amount is in cell D2. The answer $60,000 appears on the screen.
A B C D E F G
1
2 Sales $100,000
3 Cost of goods sold 40,000
4 -----------
5 Gross Profit $ 60,000
6
To add numbers, the student would move the cell pointer to Cell D5 and enter +D2+D3. Although no numbers were entered, we are instructing Excel to add whatever amount is in cell D2 with whatever amount is in cell D3. The answer $1,500 appears on the screen.
A B C D E F G
1 ADD DIVIDE MULTIPLY
2 $1,000 25 10
3 500 5 6
4 -------- --- ---
5 FORMULA FORMULA FORMULA
6
Completing a Template (continued)
ANSWERS
A B C D E F G
1 ADD DIVIDE MULTIPLY
2 $1,000 250 10
3 500 50 6
4 -------- ---- ---
5 $1,500 5 60
6
To divide numbers, the student would move the cell pointer to cell E5 and enter +E2/E3. The quotient, 5, would appear in cell E5.
To multiply numbers, the student would enter +F2*F3 in cell F5 or any cell where he would want the answer to appear. The product 60 would appear.
VALUE EXAMPLE:
Assume the student is instructed to change the sales amount to $150,000. He would move the cell pointer to cell D2 and type 150000. Do not type numbers with commas. All cells have been formatted for the student in the templates. The new template would appear as below:
A B C D E F G
1
2 Sales $150,000
3 Cost of goods sold 40,000
4 -----------
5 Gross Profit $110,000
6
Notice how the Gross Profit is automatically recalculated. This is the power of spreadsheets.
FUNCTION EXAMPLE:
Again, assume the following template appears on the screen:
A B C D E F G
1 ADD
2 $1,000
3 500
4 --------
5 FORMULA
6
Completing a Template (continued)
In lieu of entering +D2+D3 in Cell D5, we could use a built-in function called SUM. The student would move the cell pointer to D5 and enter the following: *SUM(D2.D3). Cell D5 would then show $1,500.
I have provided instructions for the students when functions should be used in the templates
ولكم امنياتي بالتوفيق
حاوم عواد المجالي
Chapter 1: The Accountant’s Role in the Organization
Objectives
1. Describe how cost accounting supports management accounting and financial accounting.2. Understand how management accountants affect strategic decisions.3. Distinguish between the planning and control decisions of managers.4. Distinguish among the problem-solving, scorekeeping, and attention-directing roles of management accountants.5. Identify four themes managers need to consider for attaining success.6. Describe the set of business functions in the value chain.7. Describe three ways management accountants support managers.8. Understand how management accounting fits into an organization’s structure.9. Understand what professional ethics mean to management accountants.
The Accountant's Role in the... True or False
1 . Management and financial accounting have the same goals. [Hint] True False
2 . Cost accounting provides information for only financial accounting purposes. [Hint] True False
3 . The budget is the qualitative expression of the proposed management plan of action. [Hint] True False
4 . The value chain describes the flow of goods, services, and information from the purchase of materials to the delivery of products to consumers, regardless of whether those activities occur in the same organization or with other organizations. [Hint] True False
5 . An example of the cost-benefit approach is that resources should be spent if they will better attain the company's goal in relation to the expected costs of those resources. [Hint] True False
The Accountant's Role in the... Multiple Choice
1 . Which one of the following would be considered a user of management accounting information? [Hint] Stockholders
Controller
Creditors
Suppliers
2 . Which one of the following would be considered an external user of the firm's accounting information? [Hint] President
Controller
Stockholder
Sales manager
3 . The production and purchasing technique that involves producing or purchasing the item immediately as it is needed is the tool known as [Hint] total quality management
just-in-time
planning
computer-integrated manufacturing
4 . A resource that will likely be turned into cash in less than one year is a (an) [Hint] current asset
long-term asset
intangible asset
productive asset
5 . Planning involves all of the following activities except for [Hint] selecting organization goals
predicting results under various alternatives
communicating the goals to the organization
implementing the decisions
6 . The planning process and the control process are linked by [Hint] predictions
feedback
budgets
marketing
7 . For strategic decisions and planning decisions, the role that is most prominent is the [Hint] problem-solving role
attention-directing role
scorekeeping role
implementation role
8 . Each of the following is a key theme in management decision making except for [Hint] customer focus
key success factors
cost accounting
continuous improvement and benchmarking
9 . Measuring the quality of products, services, and activities against the best levels of performance found in competing companies would occur in which one of the key themes in management decision making? [Hint] Customer focus
Key success factors
Continuous improvement and benchmarking
Value-chain and supply-chain analysis
10 . The chief financial officer is also known as the [Hint] controller
auditor
finance director
staff accountant
The Accountant's Role in the... Fill In The Blanks
1 . _____ accounting systems provide information for management and financial accounting. [Hint] Cost
Cash
Accrual
Budget
2 . _____ specifies how an organization matches its own capabilities with the marketplace opportunities to accomplish its objectives. [Hint] Budget
Strategy
Marketing
Feedback
3 . Managers match their knowledge of the _____ and _____ that exist in the industry with the resources and capabilities of their company. [Hint] strengths, weaknesses
strengths, threats
opportunities, strengths
opportunities, threats
4 . _____ is an example of a long-term productive asset. [Hint] Cash
A patent
A computer
Inventory
5 . The control process involves taking actions that _____ the planning process decisions. [Hint] implement
selecting
predict
communicate
6 . _____ involves accumulating data and reporting results to all management levels that describe how the organization is doing. [Hint] Problem solving
Scorekeeping
Attention directing
Planning
7 . Innovation and quality would be considered under the _____ theme that a manager considers for attaining success. [Hint] customer focus
key success factors
value-chain and supply-chain analysis
continuous improvement and benchmarking
8 . An important guideline in helping management accountants provide the most value when problem solving is to recognize the _____ considerations as well as the technical considerations. [Hint] cost
behavioral
benefit
Expense
9 . The _____ is responsible for the management and financial accounting information provided for decision-making purposes. [Hint] treasurer
auditor
finance director
controller
10 . An example of the characteristic of _____ would be to avoid actual or apparent conflicts of interest. [Hint] competence
confidentiality
integrity
objectivity
The Accountant's Role in the... Essay Questions
1 . Describe the planning system, the control system, and how feedback provides the link between the two systems. To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
Bypassing Purchasing Controls
A manager discovers a credit card statement with suspicious supporting invoices and requests the internal auditing department to investigate. Several transactions on the statement's itemized listing fall just under the company's $5000 threshold for use of procurement cards. With several of these items, the manager believed the employee might be trying to bypass the company's purchase order controls. The manager felt certain that the employee convinced the supplier to bill a larger purchase with several invoices that were each less than $5000. At that time, the manager contacted the internal auditing department, which took over the investigation.
As the auditors began investigating the suspicious invoices, they realized that the supplier's address and phone number did not appear in the heading of the invoice. As they looked at the invoices in more detail, they were convinced that the invoices were produced on a color printer. The auditors then obtained a list of all credit card purchases made by this employee over the past year. Many were just under the $5000 threshold. As the auditors continued their investigation, they obtained a phone number and called the supplier with most of the charges that were just under the threshold. In the course of conversation with an individual from the supplier's office, the auditors learned that the employee's wife was in a management position with the supplying firm.
To learn more about bypassing purchasing controls and the auditors broadened investigation in this case, log onto Accountants World and join Accountants World Today. The membership is free and will prove to be a valuable resource for students interested in financial and accounting issues. Once you have logged onto the website, the left sidebar will display a list of topic areas. Click on "Accounting" and look for the article titled "Purchasing Below the Radar."
1. What was the red flag that caused the manager to call for further investigation into the employee's purchasing transactions?
2. What did the internal auditors discover about the supporting invoices?
3. What did the internal auditors discover when they phoned the supplier?
4. The auditors decided to broaden the scope of their investigation of this employee's transactions. What did they investigate next?
5. What was the valuable lesson learned by senior management from this incident?
Economic Value Added and Capital Budgeting
Every day businesses are faced with a myriad of investment opportunities. Trying to decide which opportunities should be seized is a daunting task, but there are several analytic tools available. There are a variety of ways to evaluate capital investment projects, including payback period, accounting rate of return, net present value, internal rate of return, and the residual income approach. This exercise presents a new variant of the residual income approach; the economic value added (EVA) method. An explanation of the method is presented in an article entitled Economic Value Added: The Invisible Hand at Work. The article is published on the website of CRF (Credit Research Foundation). The CRF is an independent, non-profit, member-run organization that provides education and research publications, forums, and networking opportunities to member financial managers. Read the article and then answer the following questions:
1. What is the primary objective of a business? How does this objective relate to capital budgeting?
2. What is meant by the term capital in this article? What are two types (or sources) of capital?
3. What is the cost of capital? How is the cost of capital computed?
4. What is meant by the term economic value added (EVA)?
5. 5. How is EVA computed? How does EVA differ from residual income?
An Ethics Challenge Issued to Accountants World-Wide
The Institute of Managerial Accountants wants financial professionals worldwide to refocus and conduct all financial business with the highest ethical standards. Margaret Butler, President of the IMA, states that, "This step is crucial in restoring the world's confidence in reported financial results." The IMA has posted on its site the Ethics Challenge issued by Margaret Butler. The IMA is the premier organization for management accountants and financial managers. Members of the IMA are obligated by membership in the organization to uphold the Code of Professional Ethics.
While accounting improprieties at Enron, WorldCom and other companies have become public knowledge, the IMA stresses the obligation that management accountants have to the public, their profession, the organizations they serve, and themselves. They offer specific guidelines for ethics in the areas of competence, confidentiality, integrity, and objectivity. They suggest all accountants follow their model and uphold the highest ethical standards in the practice of their profession.
In general, ethics consists of human conduct relating to what is morally good or bad and what is right or wrong. To determine if a decision is a good or a bad decision, it must be compared to a standard. Standards must be well thought out and articulated to members of the profession. To help evaluate an ethical dilemma two questions emerge, "Will actions be fair and just to all parties affected?" and "Would I be pleased to have my closest friends learn of my actions?" Courses of action followed in ethical conflicts include:
· Discuss the problem with the immediate superior unless it appears that the immediate superior is involved. If it does appear that the immediate superior is involved, present the problem to the next higher managerial level. Work up to higher managerial levels if a satisfactory resolution cannot be achieved.
· Discuss relevant ethical issues with a confidential, objective advisor (e.g. the IMA Ethics Counseling service). You may need to consult your attorney regarding legal obligations and rights concerning the ethical conflict.
· If all preceding channels have been utilized and the conflict still exists, you may need to resign from the organization and submit an informative memorandum to an appropriate representative of the organization.
1. What are the ethical standards related to Competence?
2. What are the ethical standards related to Confidentiality?
3. What are the ethical standards related to Objectivity?
4. Are members of the IMA required to comply with the organization's Standards of Ethical Conduct?
5. When is it considered appropriate and when is it considered not appropriate to communicate ethical problems to authorities or individuals not employed or engaged by the organization?
The Big 5 Accounting Firms: Just What Do They Really Do?
When most people think about accounting as a career, they picture some dull person sitting in a back room debiting and crediting all day. With this view, it's no wonder that students do not choose accounting as a profession. Is this decision justified? Just what do the Big 5 Accounting Firms do? What services do they provide? It may surprise you to learn about these firms. Visit their websites and see that these are not the boring places that you thought they'd be.
Please be sure to bookmark this URL, the Big 5 Accounting Firms, before going to any of the specific Accounting firms. A few of the Accounting firm home pages do not allow you to use the back button to return to this URL.
Answer the following questions concerning the Big 5 Accounting Firms.
1. What are the Big 5 Accounting Firms?
2. What services are offered by Deloitte & Touche? From this firm's home page, click Services.
3. What services are offered by Ernst & Young? From this firm's home page, click United States in the Pull Down menu next to Start Here, then click About E&Y to view its services.
4. What services are offered by KPMG? From this firm's home page, click Services.
5. What services are offered by PricewaterhouseCoopers? From this firm's home page, click About us and then click Services to view its services
The Accountant's Role in the... Internet Exercises
Cost Accounting Fundamentals. Go to www.imanet.org and answer the following questions about the Institute of Management Accountants (IMA):
1. What is the IMA? To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
2a. What are the two professional designations offered by the IMA? To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
2b. What are the four primary objectives of the IMA professional-certification programs? To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
2c. How do you obtain a CMA or CFM professional designation? To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
3a. Describe the information available on the IMA's student Web site. To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
3b. Click on the "Campus Site Map" and then on the link, "How Do I Start My Career?" Describe how typical management-trainee and internship programs operate. To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
3c. Click on the "Campus Site Map" and then on the link, "How Do I Start My Career?" Describe the typical positions available to management-accounting trainees. To create paragraphs in your essay response, type <p> at the beginning of the paragraph, and </p> at the end.
Spreadsheet Templates to Accompany Horngren/Datar/Foster Cost Accounting 11E
Templates by Albert Fisher
EXCEL TUTORIAL
The accompanying templates for Cost Accounting 11E were written with the user in mind. These templates are partially completed to allow students to concentrate on solving the problem and not worry about the formatting or the presentation of the answer. All cells that need to be completed by the student are shaded blue. Certain problems and exercises have no shaded cells, therefore, the student needs to complete the entire template. Students will need only minimal knowledge of spreadsheet techniques. I usually take one class period at the beginning of the semester to run through this tutorial with my class. I then go over the formulas from the first problem I assign from the chapter material to make sure students understand what is expected from them.
BASIC SKILLS:
Starting Excel is similar to starting other Windows applications. The following steps are required:
Launching Excel or Higher
Double click the Microsoft Excel icon from your desktop icons. If Excel does not have a desktop icon, then do the following:
a. Click Start to display the start menu.
b. Click Program to display the programs available on your computer.
c. Scroll down until you find the Excel program and double click on it.
d. If you are new to Microsoft Excel, the online Quick Preview lesson AGetting Started* should give you the basic knowledge to complete these templates.
Opening a Worksheet File
a. Make sure your student disk is in the disk drive. (This should be known as the “a* drive.)
b. There are two ways to open a worksheet file.
1. The first way is to click the Open File Button. Buttons are shortcuts for many worksheet tasks. We will be using some of these buttons to facilitate the student’s work. The three we will be using are Open, Print, and Save.
Opening a Worksheet File (continued)
2. The second way is to click File from the main menu bar and then Open to display the Open File dialog box. A dialog box is used to select options and identify data you want a command to work on.
c. Click the Drives drop-down list arrow to see the list of available drives.
The Open File dialog box will appear.
d. Select the drive where your student disk is located by clicking that drive. (We will assume this is drive a:)
e. Finally, click the file name you want to retrieve, then click OK. All file names refer to the corresponding problems in the book. For example, PO2-27 refers to Problem 2-27 from Chapter 2.
Completing a Template
A template is a pre-labeled worksheet that needs to be completed by filling certain cells with data.
Spreadsheets (Excel) are computer programs, which store data in cells. A cell is where a row and a column intersect. Rows are labeled numerically, and columns are labeled alphabetically.
There are only four things that can go into a cell.
1. A LABEL (TITLE) is descriptive text.
2. A FORMULA is the arithmetic used to calculate numbers displayed in the template.
3. A VALUE (AMOUNT) is a number, formula, or function.
4. A FUNCTION is a predefined formula.
To complete a template, a student will be asked to enter one of the above items into a cell.
Let’s look at different examples.
Completing a Template (continued)
LABEL EXAMPLE:
Assume the following template appeared on the screen:
A B C D E F G
1
2 Sales $100,000
3 TITLE 40,000
4 -----------
5 Gross Profit FORMULA
6
The student would move the cursor to B3 and type COST OF GOODS SOLD.
FORMULA EXAMPLES:
The student would move the cell pointer (indicates current cell location) to cell D5 and enter +D2-D3. Although no numbers were entered, we are instructing Excel to subtract whatever amount is in cell D3 from whatever amount is in cell D2. The answer $60,000 appears on the screen.
A B C D E F G
1
2 Sales $100,000
3 Cost of goods sold 40,000
4 -----------
5 Gross Profit $ 60,000
6
To add numbers, the student would move the cell pointer to Cell D5 and enter +D2+D3. Although no numbers were entered, we are instructing Excel to add whatever amount is in cell D2 with whatever amount is in cell D3. The answer $1,500 appears on the screen.
A B C D E F G
1 ADD DIVIDE MULTIPLY
2 $1,000 25 10
3 500 5 6
4 -------- --- ---
5 FORMULA FORMULA FORMULA
6
Completing a Template (continued)
ANSWERS
A B C D E F G
1 ADD DIVIDE MULTIPLY
2 $1,000 250 10
3 500 50 6
4 -------- ---- ---
5 $1,500 5 60
6
To divide numbers, the student would move the cell pointer to cell E5 and enter +E2/E3. The quotient, 5, would appear in cell E5.
To multiply numbers, the student would enter +F2*F3 in cell F5 or any cell where he would want the answer to appear. The product 60 would appear.
VALUE EXAMPLE:
Assume the student is instructed to change the sales amount to $150,000. He would move the cell pointer to cell D2 and type 150000. Do not type numbers with commas. All cells have been formatted for the student in the templates. The new template would appear as below:
A B C D E F G
1
2 Sales $150,000
3 Cost of goods sold 40,000
4 -----------
5 Gross Profit $110,000
6
Notice how the Gross Profit is automatically recalculated. This is the power of spreadsheets.
FUNCTION EXAMPLE:
Again, assume the following template appears on the screen:
A B C D E F G
1 ADD
2 $1,000
3 500
4 --------
5 FORMULA
6
Completing a Template (continued)
In lieu of entering +D2+D3 in Cell D5, we could use a built-in function called SUM. The student would move the cell pointer to D5 and enter the following: *SUM(D2.D3). Cell D5 would then show $1,500.
I have provided instructions for the students when functions should be used in the templates