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In discussing a firm's latest financial statements, a manager says that it is the "results on the bottom line" that really count. What does the manager mean?
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- Explain why financial statements are important to managers and to outside parties.What is earnings management? Illustrate your answer with examples of Balance Sheet items that managers can use to increase earnings.What are the main aspects of a firm that financial managers decisions mainly effect? What are the main functions of a financial manager?
- Who are the primary users of a company's management accounting information? A its customers to understand the pricing of the product. B its creditors to understand the credibility of the business. C its employees to plan and control operations. D its investors to make their investment decisions.Analysts gather additional information to provide insight about management’s financial statements. Discuss the importance of doing the following: considering the financial reporting history of the company. investigating large and unusual changes in reported items.The result of financial statement analysis may reflect the effectiveness of management in handling the affairs of the business. True or False
- Which statement is correct: Select one: a. Management accounting’s focus and emphasis is on past-oriented reports. b. The purpose of financial information in management accounting is to communicate organization's financial position to investors, banks, regulators, and suppliers. c. All statements are correct. d. Management accounting focuses on measuring, analyzing, and reporting financial and nonfinancial information to help managers estimate future revenue, costs, and other measures to forecast activities and formulate strategies to increase the competitive advantage of the organization. e. In management accounting, rules of measurement reporting require financial statements, e.g. prepared for the budgeting purpose, to be prepared in accordance of GaAAP.How can the company's management balance liquidity, solvency, and profitability goals?Direction: Answer comprehensively the following questions. 1. Explain the shareholder wealth maximization goal of the firm and how it can be measured. Make an argument for why it is better goal than maximizing profit. 2. What conflicts of interest can arise between managers and stockholders? 3. Name and describe as many stockholders as you can. 4. State the kinds of assurances that investors and creditors seek from a firm. 5. What are the three types of financial management decisions? For each type of decision, give an example of a business transaction that would be relevant.
- Which statement regarding management accounting is true ? Select one: O a. Management accounts are prepared for parties external to the organisation. O b. Concerned with the reporting of past data. O c. Concerned with providing information to shareholders. O d. Prepare plans and forecasts for the future activities of the business.How can companies improve their accounting quality, and what are some best practices for maintaining accurate financial information over time?Management accounting reports on the profitability (and therefore the efficiency) of a business, whereas financial accounting reports om specifically what is causing problems and how to fix them. True or false?