Managerial Accounting Discussion Questions week 1-4
All answers must be cited if used thru a internet or book.The answers don’t have to be lengthy, but i do require that you number each answer .
Week 1 discussion question
A1.Evaluate the difficulties companies are faced in implementing a control framework against fraud under Sarbanes-Oxley (SOX). In your evaluation, discuss how the external financial audit can assist in determining fraud.
A2. Analyze how the SOX framework can prevent business model fraud in financial accounting and managerial accounting. Contrast the differences in the framework for financial accounting and managerial accounting.
B1.From the e-Activity, assess the effectiveness of the current Institute of Management Accountants (IMA) code of professional conduct in promoting ethical behavior and providing guidance for the dilemmas managerial accountants are confronted with today. In your assessment, compare the IMA code of conduct to the AICPA code of professional conduct and its effectiveness.
B2.From the e-Activity, assess the aspects of your job that are most likely to be challenged ethically and suggest how you will handle these situations.
Week 2 Discussion Question
A1.From the first e-Activity, recommend how the American labor market can lower the direct labor costs of technology products while remaining competitive with the Asian market.
A2.Evaluate and analyze how the U.S. can manufacture direct materials for technology products in the global marketplace at competitive costs.
A3.As a Chief Financial Officer (CFO), recommend actions you could take regarding the company’s supply chain to reduce manufacturing costs of direct materials.
B1. From the second e-activity, assess the benefits of standard cost in a process cost system.
B2.As a CFO of growing medium-sized company using a process cost system, assess the most important reasons for improving your current standard cost reporting system.
B3.Evaluate the potential impact an upgrade can have on cost identification during the various stages of production.
Week 3 Discussion Question
A1. Analyze the benefits and weaknesses of traditional ABC in determining accurate overhead costs over a time-driven ABC system.
A2.Evaluate how a business can achieve a competitive advantage in the marketplace through the use of ABC and how you would convince senior management that a system should be implemented.
B1.From the e-Activity, identify a local medium-sized service business in your community. Evaluate how you would implement a performance-focused ABC system in the company as described in the e-Activity.
B2.Evaluate the reasons for the selection of the cost drivers in the discussion above and the potential impact the cost drivers will have on accurately reflecting costs and overall performance of the business.
Week 4 Discussion Question
A1.When conducting a cost-volume profit analysis, determine where the most challenges for accountants occur. Recommend action to overcome the challenge(s).
A2.Create a brief scenario in which an accountant would be asked to conduct a cost-volume profit analysis and provide a supporting rationale.
B1.In a globalized economy with many business complexities, assess how a business may be impacted by these complexities and how consequences can be minimized.
B2.From the previous discussion, recommend how an accountant could measure the types of complexity you identified for a specific business or industry and how the measure will provide insight to business performance.