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Week 1 Discussion Questions To receive full credit, please respond to one of the following questions. You must also respond to the posts of 2 other students.
Question A Tell us about yourself so you can meet and greet other fellow Grantham University students within your course. Include what you believe to be your current knowledge level of this course topic and what you hope to learn before the course is over. Question B
Compare and Contrast Managerial Accounting and Financial Accounting. Be sure to discuss how managerial accounting is useful for providing information for at least one of the following management functions: planning, directing, controlling. Question C To act ethically in accounting/business is only necessary to follow the law. Do you Agree or disagree? Give at least three specific reasons for your answer and provide at least one counter argument and rebut it.
Week 2 Discussion Questions Question A Provide and discuss an example of a situation where a company would use a job cost sheet. As part of your analysis, be sure to explain the nature and importance of a job cost sheet.
Question B Discuss the advantages and disadvantages of Job Order Costing. Be sure to include specific examples of the advantages/disadvantages that you discuss.
Week 3 Discussion Questions
Question A What is the difference between operations costing and a process costing system? How does a company decide whether to use a job order or a process cost system? Question B How does the treatment of costs differ in ABC systems as opposed to traditional cost systems?
Week 4 Discussion Questions
Question A What approach should be used to calculate the breakeven point of a company that has many products? Question B How is the contribution margin per unit of limited resources computed?
Week 5 Discussion Questions
Question A
What factors must management consider when deciding whether to continue using an asset, repair, or replace it? Question B Identify the relevant costs in a make-or-buy decision and provide an example of each type of cost.
Week 6 Discussion Questions
Question A Discuss the significance of recognizing the time value of money in the long-term impact of the capital budgeting decision. Question B Discuss how the internal rate of return (IRR) method differs from the net present value (NPV) method. Be sure to include an explanation of what the IRR method is and what the NPV method is.
Week 7 Discussion Questions
Question A What is participative budgeting? What are its potential benefits? What are its potential disadvantages?
Question B What is budgetary slack? What incentive do managers have to create budgetary slack?
Discussion: Reflection and Review Review and reflect on what you learned in the past 8 weeks. What is the most practical and easily applied lesson you learned? What was the hardest to grasp? Why? What else do you need to know about Managerial Accounting? W1 Application Problems (Questions 1,2,3,4,5 and Brief Exercises 1-2, 1-3, 1-4, and 1-5) W2-7 Application Problems Final Exam What is the difference between financial accounting and managerial accounting? Explain the two reasons why the shorter the payback period the more attractive the investment is when the payback technique is used? Distinguish between a master budget and a sales forecast.
Explain the nature and importance of a job cost sheet.
Distinguish among operating, investing, and financing activities.
Managers’ activities and responsibilities can be classified into three broad functions. List and discuss each function. Identify and discuss the relevant costs in accepting an order at a special price.
Smith & Company claims that the relevant range concept is only important for variable costs. Explain the relevant range concept and discuss whether you agree with Smith & Company.
What is a CVP analysis and how is it used in managerial accounting?
What is the difference between: unit-level, batch-level, product-level, and facility-level activities?