Indiana University Bloomington

What are some differences between financial and managerial accounting? - Answer Q *Financial accounting*... deals with regulated, historical, financial information that pertains to the whole company and is designed primarily to meet the information needs of outsiders. *Managerial accounting*... is concerned with unregulated financial, economic as well as physical data, which pertains more to the sub-units of the organization, that is current and future oriented, and that is design...

accounting - Answer comprehensive information system for collecting, analyzing, and communicating financial information bookkeeping - Answer recording accounting transaction such as taxes paid, income received and expenses incurred accounting information system(AIS) - Answer an organized procedure for identifying, measuring, recording, and retaining financial information for use in accounting statements and management reports who uses accounting information - Answer ...

Who are internal v external decision makers? - Answer Internal decision makers are individuals within a company who make decisions on behalf of the company, while external decision makers are individuals or organizations outside a company who make decisions that affect the company. Difference between Financial v. Managerial accounting. - Answer Managerial accounting focuses on an organization's internal financial processes, while financial accounting focuses on an organization...

Internal users need information to do these three things for business operations - Answer plan, direct, control Who uses mainly economic data? - Answer investors and creditors Who uses solely financial data? - Answer senior executives Who uses half financial and nonfinancial data? - Answer middle managers Who uses mainly nonfinancial data? - Answer operating employees What regulations apply to management accounitng? - Answer value-added principl...

ways to help reduce variable costs - Answer purchase less expensive direct materials, reduce direct labor hours necessary for production, reduce sales commission percentage ______the variable costs will ______ the contribution margin - Answer decreasing; increase what do manufacturing companies do? - Answer transform raw materials into finished products how to break even - Answer the contribution margin has to equal fixed costs to determine the inventory count...

Managerial Accounting - Answer Goal: communicate information INSIDE of the company not GAAP Decision makers: executives and employees Basic Cost System - Answer cost vs. benefit full absorption costing - Answer Required by GAAP Used for: Financial purposes and External Reporting

Who are internal v external decision makers? - Answer Internal decision makers are individuals within a company who make decisions on behalf of the company, while external decision makers are individuals or organizations outside a company who make decisions that affect the company. Difference between Financial v. Managerial accounting. - Answer Managerial accounting focuses on an organization's internal financial processes, while financial accounting focuses on an organization...

Costs incurred BEFORE the manufacturing process begins are called ( )costs. - Answer upstream On public financial statements, ______ costs are classified as product costs and expense when goods are sold. - Answer only midstream The primary difference between how manufacturing and service companies handle product costs is that service companies ______. - Answer expense product costs because services are consumed immediately Costs incurred in the process of making produc...

Absentee Ownership - Answer Shareholders are not present to see what happens in the company. (Ex: Owners live in another state than the company) SEC- Securities & Exchange Commission - Answer -Created to establish rules for financial statements -Created shortly after the Great Depression First rule of SEC - Answer Giving shareholders financial statements that are reviewed by CPA officials that reflect how the company is doing. Equity Investor - Answer The Shareh...

phospholipids - Answer major component of cell membranes, amphipathic fluidity - Answer term for weak hydrophilic bonds allowing lipids and some proteins to drift laterally saturated fats - Answer solidify at room temperature, can pack close together unsaturated fats - Answer kinks in tails which prevents close packing cholesterol - Answer regulates the fluidity of membranes cholesterol - Answer "temperature buffer" for membranes, 4 closed...

DNA - Answer double helix and antiparallel; With sugar-phosphate backbones; Nitrogenous bases paired in the molecule's interior DNA - Answer contains four nucleotides: Adenine, Thymine, Guanine and Cytosine 2, 3 - Answer In any organism the amount of A=T, and the amount of G=C; # of Hydrogen bonds between A and T is ----, while the # of bonds between C and G is ----. Semi-conservative - Answer DNA replicated in ------ way one old strand and one newly made s...

Certain nutrients are considered "essential" in the diets of some animals because _____. - Answer these animals are not able to synthesize these nutrients Which of the following are not part of the alimentary canal? - Answer Liver The function of mechanical digestion is to break down large chunks of food into smaller pieces. Why is this important? Smaller pieces of food _____. - Answer have more surface area for chemical digestion than do larger pieces of food In...

The heart, muscles, bones, and blood develop primarily from ____________. - Answer mesoderm Fertilization in mammals occurs in the ___________. - Answer oviduct Recombination occurs - Answer only during prophase I and involves swapping between homologous chromatids In order to ensure the precision of the excision of introns, the junction between introns and exons are bound by ________ - Answer snRNPs Which of the following statements is false? - Answer T...

Darwin defined evolution as... - Answer descent with modification modern biologists define evolution as - Answer change in allele frequencies in a population over time Darwin's contributions to biology - Answer natural selection, evidence for evolution variation among individuals, heritable traits evolving, reproductive success - Answer natural selection being able to see evolution over time in an organism by where they live - Answer biogeography c...

systematics - Answer an analytical approach to understanding the diversity and evolutionary relationships of an organism, both present day and extinct biodiversity - Answer variety of organisms and the ecosystems they form taxonomy - Answer ordered division of organisms into categories based on a set of characteristics used to assess similarities and differences classification - Answer grouping organisms by their similarities or relationships phylogeny - Answe...

Facts of evolution- 1) Direct observations of evolutionary change - Answer Small changes within a population/species (microevolution) Facts of evolution- 2) Homology - Answer Present patterns to infer processes in past (e.g homologous structures) (macroevolution) Facts of evolution- 3) Fossil record - Answer Evidence of gradual change over time (macroevolution) Facts of evolution- 4) Biogeography - Answer The scientific study of geographic distributions of specie...

Photosynthesis Formula - Answer 6CO2 + 6H2O + sunlight ---> C6H12O6 + 6O2 cellular respiration formula - Answer C6H12O2 + 6O2 ------> 6CO2 + 6H20 + ATP How much ATP from one glucose molecule - Answer 32 ATPx the electron acceptor - Answer NAD+ What does NAD+ turn into - Answer NADH glycolysis products - Answer 2 pyruvate, 2 ATP, 2 NADH what comes after glycolysis, and what is "prepped" - Answer citric acid cycle. first, 2 py...

Which of the following is an antigen presenting cell? a. T cell b. Plasma cell c. macrophage d. dendritic cell e. dendritic cell and macrophage - Answer e. dendritic and macrophage Antigen presenting cell - Answer a cell that displays antigen complexed with a major histocompatibility complexes Which of these is the site for protein and lipid synthesis? a. nucleus b. cytoskeleton c. mitochondria d. endoplasmic reticulum e. all of these - Answer d. endoplasmic re...

At the conclusion of mitosis, each daughter cell does what? - Answer DNa identical to the parent cell Meiosis results in the generation of what? - Answer Four haploid cells You are genetic counselor, and a couple comes to you with concerns that if they have a child together it could have cystic fibrosis. Genetic tests reveals that the woman is a carrier for cystic fibrosis but the man is not. Which of the following would be a correct thing to tell them? - Answer No child ...

A polyribosome is - Answer a mRNA molecule that is bound to many ribosomes in the act of translation The place where RNA polymerase first associates with DNA so that transcription can begin is called the __________ and is located ____________ of the transcribed region - Answer promoter; upstream Which of the following add individual nucleotides to the 3' end of an existing strand to build a new DNA strand during replication - Answer DNA polymerase Picture of a big b...