ACTG 2020 Study Guide - Enterprise Risk Management, Management Accounting, Activity-Based Costing

Business Law

Explain the following terms related to negotiable instruments,credit, secured transactions, and bankruptcy.

1) Promissory Note

2) Certificate of Deposit

3) Order Paper

4) Bearer Paper

5) Unqualified Indorser

6) Qualified Indorser

7) Certified Check

8) Cashier's Check

9) Writ of Attachment

10) Writ of Execution

11) After-acquired Property

12) Floating Lien

13) Chapter 7 Bankruptcy

14) Chapter 13 Bankruptcy

1. Define managerial accounting

2. Describe the role of managerial accounting and the managementaccountant in a business or organization

3. Describes ethical issues/concerns for the managementaccountant

4. Describes at least three managerial accounting techniquesavailable and their application within a business ororganization

Part II Select at least three of the five topicsidentified below:

Cost Management Techniques

Costing Methods

Capital Investment Decision Techniques

Budgeting

Quality Control

For each topic selected, present real world examples of theapplication of managerial accounting techniques within a businessor organization. Examples may be gathered from your ownprofessional experiences or from case studies obtained fromcredible sources (excluding textbook examples explored in previousweeks). Presentation of each example should include how amanagerial accounting technique was applied in the business ororganization’s decision-making model. Be sure to support yourexample with calculations when applicable.

Chapter 08

1. Three types of cost recovery and the key descriptor

2. Nature of property (two types)

3. Should personal property be depreciated?

4. Explain Allowed or Allowable

5. What is the basis when converting from personal to business

6. Explain the concept of class life as related to depreciation

7. What is the difference between SL and MACRS

8. When does residential real estate become non-residential real estate?

9. What is the Section 179 limit for 2017?

10. What are the three classifications of vehicle depreciation?

11. When do you use ADS?

12. What is the method and time for Amortization

13. List the two methods for Depletion