As a Chief financial officer (CFO) recommend three actions you could take regarding the company's supply chain to reduce manufacturing cost of direct materials? Which of the three would be your priority and why?
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As a Chief financial officer (CFO) recommend three actions you could take regarding the company's supply chain to reduce
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- As manager of department B in MarIeys Manufacturing, based on the costs you identified in the previous exercise for further research, how does this impact the financial performance of your department, and what might be some questions you want to ask or solutions you might propose to Marleys management?examine the financial management function of manufacturing companies and demonstrate the essence of sound financial management to supply chain/procurement managers.Discuss cost functions and assess the importance of causality in estimating cost functions/relationships. Imagine that you are the managerial accounting manager at General Motors. Management of Tesla has approached you about buying GM. Describe the elements needed to establish a target price that meets the intent of Tesla.
- Types of decisions that managers make include all of the following except: a.choosing which products to sell b.designing performance evaluation systems c.setting tax rates d.hiring employees e.All of these are decisions that managers makeWhich of the following statements are true? a. Screening projects of the company and determining whether they are profitable or not is part of the financial manager’s investing role. b. A financial manager emphasizes that one of the roles of their department is to transact in the financial markets. c. In an organizational chart, a financial manager who is concerned with determination of product cost and cost control function must be under the Treasurer’s Function. d. A financial manager who is tasked to assessment the company’s credit capacity. In an organizational chart, he must be under the controller.Answer the following questions: What are the factors of incremental analysis such as relevant costs, opportunity costs, and sunk costs? What is the incremental analysis approach and what are its scopes in the management accounting? Why incremental analysis is important in an organization and what are the prospect of it in the manufacturing organization? How various types of incremental analysis help management to make an effective decision? What is the relationship between the opportunity cost and rational decision making? Describe the effectiveness and prospect of incremental analysis in the context of ethical organization that ties with management accounting. Describe the effectiveness of incremental analysis in terms of making decision. What are the prospects of incremental analysis in the ethical manufacturing organization? How the concept of incremental analysis is relevant in the context of management accounting?
- 1.) Discuss the difference between managerial accounting and financial accounting and their impact to Information Technology industry. 2.) You are the CEO of your own IT Company. Based on the cost concepts that we have discussed, identify at least three (3) costs being used and provide possible solutions how to control these costs. 3.) Being in an IT Field, you know the importance of optimizing your processes to see growth through efficiency. How can financial statement analysis contribute? 4.) Accounting is the language of business. Using this context, discuss the importance of financial statement to businesses.what is the best design for costing systems? a. to be tailored to the underlying operations of the company. b. in accordance with generally accepted accounting principles for financial accounting reporting. c. to be compatible with the latest technology for data collection regardless of the cost. d. according to guidelines established by the institute of management accountants for aiding management decision making.How would cost accounting information help managers in a not-for-profit organization? Is it as important as in a publicly traded, for-profit firm?
- 1. (a) What is the incremental analysis approach and what are its scopes in the management accounting? (b) What are the factors of incremental analysis such as relevant costs, opportunity costs, and sunk costs? (c) Why incremental analysis is important in an organization and what are the prospect of it in the manufacturing organization?Consider the following series of independent situations in which a firm is about to make a strategic decision. LOADING... (Click the icon to view the decisions.) Requirements 1. For each decision, state whether the company is following a cost leadership or a product differentiation strategy. 2. For each decision, select what information the managerial accountant can provide about the source of competitive advantage for these firms. Requirement 1. For each decision, state whether the company is following a cost leadership or a product differentiation strategy. Decisions a. A running shoe manufacturer is weighing whether to purchase leather from a cheaper supplier in order to compete with lower-priced competitors. ▼ b. An office supply store is considering adding a delivery service that its competitors do not have. ▼ cost leadership strategy product differentiation strategy c. A regional retailer is deciding…Explain the contemporary business environment and how it has influenced costmanagement.