Managerial Accounting: Creating Value in a Dynamic Business Environment 12th Edition by Ronald Hilto

accounting and finance structure in an
organization.
 100.
Award: 1.00 point
A. Treasurer
B. Chief Financial Officer
C. Controller
D. Comptroller
E. Chief performance analyst
F. Internal Auditor
Match the following designation with the financial function.
1. The executive responsible for accounting and finance functions in government organizations.
2. Responsible for raising capital and safeguarding the organization’s assets.
3. The designation given to the executive responsible for all accounting and finance functions in
most organizations.
4. A managerial accountant overseeing financial planning and analysis.
5. A typically independent function with responsibility for reviewing accounting procedures, records,
and reports in both the managerial and financial areas.
6. The executive responsible for accounting and finance functions in small companies.
References
Matching Difficulty: 1 Easy Learning Objective: 01-06 Describe the
roles of an organization's chief financial
officer (CFO) or controller, treasurer, and
internal auditor.
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Correct: 2
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Correct: 3
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Correct: 6
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Correct: 1
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Correct: 4
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Correct: 5
 101.
Award: 1.00 point
The following are activities for State Hospital.
Required:
Classify each as a value-added (V) or nonvalue-added (N) and give an explanation why you
answered the way you did.
Activity Classification (V or N) Explanation
Patients waiting in the lobby   
Providing in-patient x-rays   
Retaking x-rays to get a
different view
  
Outpatient dialysis   
Activity Classification (V or N) Explanation
Patients waiting in the lobby N Does not add to the patient
experience or satisfaction
Providing in-patient x-rays V Patients gain value by not
having to go to another facility
Retaking x-rays to get a
different view
N     or
 V
If it the retake is because a poor
picture was taken the first time,
then that is bad for the patient –
do it right the first time.
If the first picture is good, but a
different view is needed to
confirm whether to operate, that
is value-added for the patient.
Outpatient dialysis V Allows patient the freedom to
get a critical care procedure,
without a hospital stay.
References
Essay Difficulty: 3 Hard Learning Objective: 01-07 Understand
and explain the value chain concept.
 102.
Award: 1.00 point
The value chain is a key component of contemporary management accounting.
Required:
Define the term "value chain" and explain how it would relate to an airline.
The value chain is a set of activities that work together to create value for an organization. With a
manufacturer, for instance, activities that range in scope from securing raw materials, to production,
to delivery of products will culminate in goods that boost a firm's bottom-line profitability.
Activities in a value chain for an airline would include reservations and ticketing, maintenance,
baggage handling, marketing, customer service, frequent-flyer programs, and, of course, flight
operations.
References
Essay Difficulty: 3 Hard Learning Objective: 01-07 Understand
and explain the value chain concept.
 103.
Award: 1.00 point
Required:
Present several examples of managerial accounting information that could help a manager make
each of the following decisions:
A. A manufacturing company is currently making a part that is a production headache. The firm is
deciding whether to abandon production and buy the part from an outside supplier.
B. An operator of fast-food restaurants is deciding whether to open a new store in Dallas.
Note: Many correct answers are possible.
A. The cost of each alternative (make vs. buy) would be needed along with information about
suppliers that pertains to reliability and product quality (e.g., testimonials from a supplier's current
customers that cite any problems with on-time deliveries, product stockouts, or abnormally high
spoilage rates of purchased goods). Given the company is currently making the part, what would
happen to the facilities if the firm begins to purchase from outside suppliers? Could the facilities be
subleased, used for other profitable products, or downsized (with equipment being sold)? What
would happen to existing employees—would there be any layoffs and how much would the
company save?
B. The manager needs information about construction or leasing costs along with figures that focus
on subsequent operating costs. Also, projected sales, market share figures, and data about