Grand Canyon ACC 350 All Modules Topic 1 - 8 Discussion Questions
ACC-350 | Managerial Accounting
Topic 1 DQ 1
How has the Sarbanes-Oxley Act of 2002 affected financial reporting for publicly traded companies? Do you think that the Sarbanes-Oxley Act is effective in promoting ethical behavior for financial professionals? Why or why not?
If a managerial accountant were to question the ethical behavior of a colleague, what course of action do you think the accountant should take?
Topic 2 DQ 1
Choose a specific company within an industry that none of your other classmates have chosen. Describe how CVP Analysis could be used by this company. Provide at least two examples.
Respond to Ethical Issue 21-1 found at the end of Chapter 21 in the textbook.
Topic 3 DQ 1
Respond to Ethical Issue 22-1 found at the end of chapter 22 in the textbook.
Describe how you could use what you have learned about budgeting in your personal life.
Topic 4 DQ 1
Respond to Ethical Issue 23-1 found at the end of chapter 23 in the textbook.
Topic 4 DQ 2
Choose one of the following variance types, and give an example of what it indicates about a company’s operations:
- Favorable direct materials price variance
- Favorable direct materials quantity variance
- Favorable direct labor rate variance
- Favorable direct labor efficiency variance
- Favorable variable manufacturing overhead rate variance
- Favorable variable manufacturing overhead efficiency variance
- Unfavorable direct materials price variance
- Unfavorable direct materials quantity variance
- Unfavorable direct labor rate variance
- Unfavorable direct labor efficiency variance
- Unfavorable variable manufacturing overhead rate variance
- Unfavorable variable manufacturing overhead efficiency variance
Choose a variance that has not been chosen by another one of your classmates, or provide an explanation that differs from those explained by your classmates. Participate in follow-up discussion by challenging your classmates’ posts, expanding upon your classmates’ posts, and/or providing additional alternatives with regard to reasons for the variances.
Topic 5 DQ 1
Respond to Ethical Issue 25-1 found at the end of chapter 25 in the textbook.
What types of business decisions can the managerial accountant support? Give an example of one decision that is supported by managerial accounting and the type of report that might be generated to help make the decision identified.
Topic 6 DQ 1
Respond to Ethical Issue 26-1 found at the end of chapter 26 in the textbook.
Choose a well-known publicly traded company that none of your other classmates have chosen, and describe the operating segments reported (this information will be in the notes to the financial statements). Include a link to this financial statement in your post. Choose one segment and discuss what items might be common costs for that segment. Participate in follow-up discussion by choosing two or more of your classmates’ posts and adding your ideas about segment margin and common costs for the company selected. How might the segment try to reduce costs?
Topic 7 DQ 1
For the company you chose in Module 6, return to the financial statement and perform a horizontal analysis on the income statement. What is the trend in the company’s net income? What changes are primarily driving this trend? Include a link to this financial statement in your post. Participate in the follow-up discussion by challenging or adding to your classmates’ answers to the above questions.
Respond to Ethical Issue D-1 found at the end of Appendix D in your textbook.
Topic 8 DQ 1
Identify a publicly traded company, and explain three ways that this company might use managerial accounting information. Do not select a company that one of your classmates has already posted on. Participate in discussion by suggesting additional ways that companies could use managerial accounting information.
Of all of the managerial accounting topics that you learned about this semester, which one(s) do you think you might use in your career? Why is this important, and how do you see using this managerial accounting information? Participate in discussion by providing suggestions for other uses of managerial accounting information or by asking questions regarding classmates’ posts.
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Solution: Grand Canyon ACC 350 All Modules Topic 1 - 8 Discussion Questions Answers