Question

EXERCISE 1-1 Differentiating Between Managerial and Financial Accounting [L01 -Cc2] Classify the following activities as primarily managerial accounting or a. Preparing a cash budget for the next quarter. b. Analyzing the profitability of a request from a potential customer. C. Accumulating the transactions for the previous six months to prepare an income statement. d. Preparing a weekly performance report for the branch manager e. Preparing an announcement to be released to the financial analysts. EXERCISE 1-2 Differentiating Between Planning, Implementation, and Control [LO1-CC1] a. Doing a cost-benefit analysis of adding a new branch versus installing three new automated teller b. C. d. e. f. machines (ATMs). Estimating the cost of raw materials to be purchased during the next quarter Analyzing market demand to assist in the preparation of the sales budget. Compiling the labour report for the past week Outlining the changes to a process based on a process reengineering team report. Documenting the savings from reductions in raw materials inventory resulting from the adoption of a JIT inventory system. PROBLEM 1-2 Applying Ethical Responsibility [LO3- cc5) A month after the mid-semester examination, a student approaches his instructor with a doctor's note and requests the instructor to ignore his poor exam performance by not including it in the computation of his final course mark. This student is aiming to become a manager. Do you see an ethical dilemma (or dilemmas)? Explain. What should be the conduct of a student who intends to become a manager? What would you do if you were the instructor for the course?

Answer 1