Accounting Standards and Activity Based Management

Related BrainMass Solutions

• The role of ethics in the development of cost accounting

  Since cost accounting is used as a managerial accounting activity to facilitate internal decision making according to the evaluation and interpretations of reports, managers need to make fair judgments.

• Managing quality, time, productivity and capacity

  Activity- based costing can be used to identify discrete activities as well as identifying the primary output measure for each activity. With using activity-based costing there are value added-activities and non- value added-activities.

• Financial Reporting and Theory

  On the other hand in case of rules based accounting the accuracy and comparability of accounts and financial statements increases. In addition, the rules prevent the management from making aggressive accounting decision.

• Governmental Accounting Standards

  452971 Governmental Accounting Standards What is Governmental Accounting Standards and what are Financial Accounting Standards Board. What are the objectives of the GASB and the FASB. What are their similarities and what are their differences.

• The relationship between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB)

  Where as IASB' IFRS takes a principle based approach to accounting standards setting, FASB'S GAAP does this through pronouncements which are based or rules.

• IMA Standards of Ethical Conduct for Management Accountants

  Adherence to these standards is integral in achieving the objectives of management accounting.

• Distinguishing features of managerial accounting

  Management accounting provides information to the management for decision making. Management accounting gives the internal reports relating to the product/process/activity.

• Managerial Accounting - compares and contrasts

  This 'bottom-up' approach naturally has significant input and influence from senior management, in that, goals, targets, and standards are applied in the preparation of the detail budgets. Steps: 1.

• Accounting:AB Costing,Net income,inventory valuation,

  generally accepted accounting principles B. operating guidelines C. generally accepted accounting standards D.