A company's strategy should be limited by its existing resources The management accountant should always be the leader in conducting strategic analysis. The first step in strategic analysis is to define the purpose/objectives of the analysis
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True or False
- A company's strategy should be limited by its existing resources
- The
management accountant should always be the leader in conducting strategic analysis. - The first step in strategic analysis is to define the purpose/objectives of the analysis
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- The managerial decision-making process has which of the following as its third step? A. Review, analyze and evaluate the results of the decision. B. Decide, based upon the analysis, the best course of action. C. Identify alternative courses of action to achieve a goal or solve a problem. D. Perform a comprehensive differential (differential) analysis of potential solutions.An important goal of a responsibility accounting framework is to help ensure which of the following? A. decision-making is made by the top executives. B. investments made by each segment are minimized. C. identification of operating segments that should be closed. D. segment and company financial goals are congruent.When managerial accountants design an evaluation system that is based on criteria for which a manager is responsible, and it is structured to encourage managers to make decisions that will meet the goals of the company as well as their own personal job goals, the framework used is _______. A. a controllable factors framework B. an uncontrollable factors framework C. a strategic plan framework D. a responsibility accounting framework
- Components of the organization that are demotivating for purposes of performance management are known as ______. A. business goals B. strategic plans C. uncontrollable factors D. incentivesStrategic management accounting provides information to protect an organisation's strategic position and determine strategies to improve its future competitiveness. To have strategic value, management accounting information (MAI) must help accomplish key strategic objectives related to quality, cost, and time. At the same time, MAI must have the technical, behavioural, and cultural attributes necessary to help achieve the strategic goals. Discuss the statement with suitable examples. Your discussion should include the inter-relationship between the strategic purpose and the desired attributes of management accounting information. [Word limit: 225 words. Note the word count at the end of your answer]The term strategic management accounting involves: Select one: O A. The identification, measurement and communication of cost data in all those situations where the organisation is being judged against the performance of competitors OB. The identification of inefficient internal operations O C. The preparation of historic financial accounts O D. a) and b) above
- Strategic Management Accounting (SMA) tools are important for companies in strategic planning, control and decision, but companies encounter challenges in adopting Strategic Management Accounting. Discuss the challenges in adopting SMA.Which approach to understanding business processes is conducted from a broad organizational perspective and has the greatest risk of overlooking processes that are ultimately critical? a. Process narrative b. Тop-down1. SWOT analysis is typically used to identify opportunities for success in the context of threats and clarify directions and choices. TRUE FALSE 2. The main strategy that can be derived from SWOT analysis is the matching/development of the organization's strengths with identified market opportunities/threats. TRUE FALSE 3. The primary purpose of value chain analysis is to evaluate how well support activities contribute to the company's value chain. TRUE FALSE
- Which of the following statements doesn't describe the organizational strategies: Select one: O a. Tactics that managers use to work toward the organisational vision O b. Contain organisation structure, financial structure, and long-term resource allocation strategies O c. Long term in nature O d. Short term in natureThe COSO Enterprise Risk Management Framework ___ A. stresses that effective risk management is comprised of just three interrelated components: internal environment, risk assessment, and control activities. B. helps management manage uncertainty, and its associated risk and opportunity, so they can create and maintain value. C. helps management set risk management policies that, if enforced, guarantee achievement of corporate objectives. D.The tendency for managers to behave like the performance metrics are the strategic objectives is known as a. motivated reasoning b. common measures bias c. surrogation d. metrics errors
