BE19-1 | |
Complete the following comparison table between managerial and financial accounting. | Financial Accounting | Managerial Accounting | Primary users | | | Types of reports | | | Frequency of reports | | | Purpose of reports | | | Content of reports | | | Verification | | |

BE19-2 | |
The Sarbanes Oxley Act of 2002 (SOX) has important implications for the financial community. Explain two implications of SOX.

BE19-3 | |
Listed below are the three functions of the management of an organization. 1. | Planning | | 2. | Directing | | 3. | Controlling |
Identify which of the following statements best describes each of the above functions.
(a) require(s) management to look ahead and to establish objectives. A key objective of management is to add value to the business.
(b) involve(s) coordinating the diverse activities and human resources of a company to produce a smooth-running operation. This function relates to the implementation of planned objectives.
(c) is the process of keeping the activities on track. Management must determine whether goals are being met and what changes are necessary when there are deviations. BE19-4 | |
Determine whether each of the following costs should be classified as direct materials (DM), direct labor (DL), or manufacturing overhead (MO).
(a) Frames and tires used in manufacturing bicycles.
(b) Wages paid to production workers.
(c) Insurance on factory equipment and machinery.
(d) Depreciation on factory equipment. BE19-5 | |
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials, direct labor, or manufacturing overhead.
(a) Windshield.
(b) Engine.
(c) Wages of assembly line worker.
(d) Depreciation of factory machinery.
(e) Factory machinery lubricants.
(f) Tires.
(g)