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Related Topics
Cards In This Set
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Accounting information system
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Collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users
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The 2 major subsystems of the accounting information system are:
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(1)Financial accounting information system(2)Cost management accounting information system
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Which accounting system is primarily concerned with producing outputs for external users
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Financial accounting information system
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The 3 broad objectives of cost management accouting information systems are:
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(1)Provide information for costing out services and products(2)Planning and control(3)Decision making
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Cost management information system, name an activity
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Preparing reports for division managers
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The cost management information system has 2 major subsystems
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(1)Cost accouting information system(2)Operational control information system
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Enterprise resource software (ERP) has the objective of
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Providing an integrated system capability and is able to run all the operations of a company
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In JIT manufacturing, each operation produces
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Only what is necessary for the succeeding operations
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JIT is a critical part of a more comprehensive approach referred to as
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Lean Manufacturing
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The focus of lean manufacturing is to
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Eliminate waste, which is anything that does not add value to the end user (customer)
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The role of cost and management accountants is
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(1)One of support and teamwork(2)Assistance of those who are responsible for achieving a companys basic objectives
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What are line staff
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Positions that have direct responsibility for basic objectives
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What are staff positions
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Positions that are indirectly responsible for basic objectives
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Who supervises all the accouting departments and is often viewed as a member of the top management team
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Controller
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Who is responsibe for all taxation activities, including dealing with the IRS
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Controller
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