ACG 3401 - Ch. 2 SMARTBOOK || 100% Verified Solutions.
Accountants have four roles with respect to technology: users, managers, [blank], and evaluators.
correct answers designers
True or false: Rapid changes in the global marketplace that affect the accounting profession have
resulted in a focus on accountings' stewardship and reporting functions. correct answers False
Reason:
The changes primarily affect the business management support role.
True or false: Although rapid changes in technology increase the amount of information
available, the information must support the information requirements of the business decision
makers to be fully effective. correct answers True
Which of the following is a stewardship and reporting role for the accounting/finance function?
correct answers Regulatory compliance
The accounting/finance operations role includes financial close - completing period-end [blank].
correct answers accounts
Which of the following is NOT a role of accountants with respect to technology? correct answers
programmers
Performance [blank] is an accounting function in the Business Management Support role. correct
answers management or measurement
Which of the following is a business management support of the accounting/finance function?
correct answers Performance measurement, reporting and analysis
,The roles of the accounting/finance function include stewardship and reporting, accounting
operation, and [blank] management support. correct answers business
Technology does not necessarily result in better decisions, because the information produced
may not support the information requirements of the business's [blank] makers. correct answers
decision
The Institute of Management Accounting Competency Framework defines how many areas of
skills that accounting professionals need to remain relevant in a digital age? correct answers 6
Which of the following is included in Accountants' Stewardship and Reporting role? correct
answers Statutory Reporting
Investor Relations
True or false: Raising capital is an activity in the Accounting/Finance Operations role of
accountants. correct answers False
Reason:
It is a function in the Stewardship and Reporting role not the Accounting/Finance operations
role.
Match the IMA Management Accounting Competency Framework skill area with a matching
skill.
Instructions
Strategic management <---
Reporting and control <---
, Technology and analytics <---
Leadership <---
Professional ethics and values <--- correct answers ---> Guide decision making
---> Report organizational performance
---> Analyze data to enhance organizational success
---> Facilitate collaboration
---> Demonstrate commitment to legal compliance
Performance ____________ is an accounting function in the Business Management Support role.
correct answers management
The CGMA Competency Framework describes four broad sets of skills anchored by a
commitment to [blank], integrity, and professionalism. correct answers ethics
Match activities to the role of the accounting/finance function in business.
Instructions
Stewardship and Reporting <---
Accounting operations <---
Management support <--- correct answers ---> Tax returns
Accountants have four roles with respect to technology: users, managers, [blank], and evaluators.
correct answers designers
True or false: Rapid changes in the global marketplace that affect the accounting profession have
resulted in a focus on accountings' stewardship and reporting functions. correct answers False
Reason:
The changes primarily affect the business management support role.
True or false: Although rapid changes in technology increase the amount of information
available, the information must support the information requirements of the business decision
makers to be fully effective. correct answers True
Which of the following is a stewardship and reporting role for the accounting/finance function?
correct answers Regulatory compliance
The accounting/finance operations role includes financial close - completing period-end [blank].
correct answers accounts
Which of the following is NOT a role of accountants with respect to technology? correct answers
programmers
Performance [blank] is an accounting function in the Business Management Support role. correct
answers management or measurement
Which of the following is a business management support of the accounting/finance function?
correct answers Performance measurement, reporting and analysis
,The roles of the accounting/finance function include stewardship and reporting, accounting
operation, and [blank] management support. correct answers business
Technology does not necessarily result in better decisions, because the information produced
may not support the information requirements of the business's [blank] makers. correct answers
decision
The Institute of Management Accounting Competency Framework defines how many areas of
skills that accounting professionals need to remain relevant in a digital age? correct answers 6
Which of the following is included in Accountants' Stewardship and Reporting role? correct
answers Statutory Reporting
Investor Relations
True or false: Raising capital is an activity in the Accounting/Finance Operations role of
accountants. correct answers False
Reason:
It is a function in the Stewardship and Reporting role not the Accounting/Finance operations
role.
Match the IMA Management Accounting Competency Framework skill area with a matching
skill.
Instructions
Strategic management <---
Reporting and control <---
, Technology and analytics <---
Leadership <---
Professional ethics and values <--- correct answers ---> Guide decision making
---> Report organizational performance
---> Analyze data to enhance organizational success
---> Facilitate collaboration
---> Demonstrate commitment to legal compliance
Performance ____________ is an accounting function in the Business Management Support role.
correct answers management
The CGMA Competency Framework describes four broad sets of skills anchored by a
commitment to [blank], integrity, and professionalism. correct answers ethics
Match activities to the role of the accounting/finance function in business.
Instructions
Stewardship and Reporting <---
Accounting operations <---
Management support <--- correct answers ---> Tax returns
