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Question # 1
"Traditionally the role of management accountants has predominantly been viewed as 'bean counters' by providing numerical information to decision-makers. However, over the past two decades, commentators and practitioners alike have reported that management accountants are now becoming active players in the business decision-making process."
Do you agree with the statement? Discuss the changing role of management accountants with reference to how it impacts on the current business environment.
Hint: Students are required to answer this question by referring to journal articles and/or books.
Question # 2
Why is cost classification necessary? Explain your answer with reference to business decision making purposes and provide relevant examples.
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Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
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Evaluate the Predetermined Overhead Rate
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This individual assignment is based on the TerraCycle Inc.
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A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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