What is CVP analysis? Why is this an important analysis for a company to perform?
What is an operating budget? What does it result in? What is the first step in completing an operating budget?
What is responsibility accounting? What is a cost center? How does a cost center differ from a profit center?
Why is capital budgeting important? What is the IRR method? How is it calculated?
What are five different types of decisions that could use incremental analysis? What are the factors to be considered in retaining or replacing equipment?
How is a transfer price determined? Describe the cost-based method. Do you think it is better than the market-based method?
What is direct labor? Give an example of direct labor. How does direct labor differ from indirect labor? Give an example of an indirect labor
What is the accounting equation? Suppose your company paid $6,000 in cash for its rent. How does this transaction impact the accounting equation?