1.

Management accounting information system is management that

provides information needed to satisfy specific management objectives.
3. Three objectives of a management accounting information system :
To provide information for costing out services, products, and other
objects of interest to management
To provide information for planning, controlling, evaluation, and
continuous improvement.
To provide information for decision making.
5. The users of management accounting information are managers,
executives, and workers.
6. Accounting information is used in all phases of management, including
planning, controlling, and decision making. It can help them identify
and solve problems and evaluate performance.
7. Yes. Both financial and nonfinancial information is needed so that
workers can evaluate and monitor the effects of decisions that are
intended to improve operational and unit performance. Operational and
financial performance information allows workers to assess the
effectiveness of their efforts to improve.
13.
Management Accounting Financial Accounting
Internally focused Externally focused
No mandatory rules Must follow externally imposed
rules
Financial and nonfinancial
information; subjective information
possible
Objective financial information
Emphasis on the future Historical orientation
Internal evaluation and decisions
based on very detailed information
Information about the firm as a
whole
Broad, multidisciplinary More self-contained


15. Activity based management is a systemwide, integrated approach that
focuses management's attention on activities with the objective of
improving customer value and the resulting profit. It is important to find
ways to perform necessary activities more efficiently and to eliminate
those that do not create customer value.
17. Internal value chain is the set of activities required to design, develop,
produce, market, and deliver products and services to customers. It is
important to increase customer value, especially if maximizing
customer realization at the lowest possible cost ( to the firm ) is a goal.
18. Industrial value chain is the linked set of value-creating activities from
basic raw materials to the disposal of the final product by end-use
customers. It is important for strategic cost management.
19. Supply chain management is the management of material flows
beginning with suppliers and their upstream suppliers, moving to the
transformation of materials into finished goods, and finishing with the
distribution of finished goods to customers and their downstream
customers. The relationship between industrial value chain and supply
chain management is external linkages. Using these linkages to bring
about a win-win outcome for the firm, its suppliers, and its customers is
the key to successful strategic cost management.
21. It is important because a cross-functional perspective lets us see the
big picture. This broader vision allows managers to increase quality,
reduce the time required to service customers ( both internal and
external ), and improve efficiency.
26. Ethical behavior involves in choosing actions that are "right", "proper,"
and "just." Yes, because because the only goal of a business is not
only maximizing its net worth but also should be constrained by the
requirement that profits be achieved through legal and ethical means.
Companies with a strong code of ethics can create strong customer
and employee loyalty.