WGU C425

Accommodation A style of dealing with conflict involving cooperation on behalf of the other party but not being assertive about one's own interests Accounting audits Procedures used to verify accounting reports and statements Acquisition One firm buying another Activity-Based costing (ABC) A method of cost accounting designed to identify streams of activity and then to allocate costs across particular business processes according to the mount of time employees devote to particular activit...

Delivery of products or services A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? Choose 1 answer Supply and demand Operations and logistics Outsourcing or insourcing Delivery of products or services Profit margins are increased. What happens when an effective value chain is created? Choose 1 answer Profit margins are increased. A mission statement is developed. Customized products are standardized. Total quality ma...

Which activity is financial management responsible for? Ensuring sufficient financing is available What is one of the main areas of the financial environment? Investments What is a common challenge in the world of finance? It generally operates with a high degree of uncertainty Which variable must be considered when a corporation's finance department is determining the best strategy for financing a project? The amount of debt and equity financing currently in use An individual is interes...

Matching Principle The revenues and the expected incurred to generate those revenues must be reported together; a fundamental component of accrual-based accounting. Historical Cost Principle Items that appear on the financial statement are listed at the cost when purchased. Current Assets Cash or assets that will be converted into cash within the next year. Gross Fixed Assets Property, Plant, and Equipment (PP&E). These are on the books at their historical cost. This does not include accum...

Corporations establish goals in areas including finance, diversity, and social responsibility. Match the corporate goal with the area that it addresses. Answer options may be used more than once or not at all. Select your answers from the pull-down list. Environmental goal Diversity goal Financial goal Financial goal Environmental goal-Create zero waste Diversity goal-Promote women and minorities Financial goal-Make a profitable investment for the company Financial goal-Switch to a fre...

What do financial managers do? prepare financial statements, business activity reports, and forecasts monitor financial details to ensure that legal requirements are met supervise employees who do financial reporting and budgeting review company financial reports and seek ways to reduce costs analyze market trends to find opportunities for expansion or for acquiring other companies help management make financial and investment decisions Important Skills for Financial Managers Analytical s...

The required rate of return (RRR) the minimum annual percentage earned by an investment that will induce individuals or companies to put money into a particular security or project Yield dividend, interest or return the investor receives from a security like a stock or bond, usually reported as an annual figure Interest Rates The cost of borrowing money. interest charged by a lender such as a bank on a loan Annual Percentage Rate (APR) the annual rate charged for borrowing or earned throug...

Finance The study of fund management and asset allocation over time *time drives finance decisions Accounting vs. Finance vs. Economics - Accounting looks at the past - Finance uses past information for looking into the future - Economics looks at what happens if...cause and effect Why should we care about finance in business? 1. Maximize shareholder value 2. Choose between different investment choices 3. Make sure money is in the right place at the right time *Focus on cash flow, not...

The credit manager for a company is responsible for setting the company's credit policy regarding availability and limits for customers. What is one of the additional responsibilities of this credit manager? Collecting past-due accounts Which activity is financial management responsible for? Ensuring sufficient financing is available What is one of the main areas of the financial environment? Investments What is a common challenge in the world of finance? It generally operates with a hig...

Why would the company use this check sheet? To develop a Pareto chart identifying the root causes of engine defects Which aspect of quality is demonstrated by a vehicle that has a useful life of 165,000 miles? Durability A quality improvement team is trying to illustrate to upper management how a process is varying over time as measurements are collected. Which two statistical process control (SPC) tools should the team use? Run charts and Control charts The CEO of a service company want...