Question

dentify trends in managerial accounting.

DO IT! 14.4  

(LO 4) Match the descriptions that follow with the corresponding terms.

Descriptions:

• 1.________ Inventory system in which goods are manufactured or purchased just as they are needed for sale.
• 2.________ A method of allocating overhead based on each product's use of activities in making the product.
• 3.________ Systems that are especially important to firms adopting just-in-time inventory methods.
• 4.________ Provides guidelines for companies to describe their sustainable business practices to external parties.
• 5.________ Part of the value chain for a manufacturing company.
• 6.________ The U.S. economy is trending toward this.
• 7.________ A performance-measurement approach that uses both financial and nonfinancial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion.
• 8.________ Requires that top managers certify that the company maintains an adequate system of internal controls.

Terms:

• a.Activity-based costing
• b.Balanced scorecard
• c.Total quality management (TQM)
• d.Research and development, and product design
• e.Service industries
• f.Just-in-time (JIT) inventory
• g.Sarbanes-Oxley Act (SOX)
• h.Global Reporting Initiative

Answer 1

1.________ Inventory system in which goods are manufactured or purchased just as they are needed for sale.	f.Just-in-time (JIT) inventory
2.________ A method of allocating overhead based on each product's use of activities in making the product.	a.Activity-based costing
3.________ Systems that are especially important to firms adopting just-in-time inventory methods.	c.Total quality management (TQM)
4.________ Provides guidelines for companies to describe their sustainable business practices to external parties.	h.Global Reporting Initiative
5.________ Part of the value chain for a manufacturing company.	d.Research and development, and product design
6.________ The U.S. economy is trending toward this.	e.Service industries
7.________ A performance-measurement approach that uses both financial and nonfinancial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion.	b.Balanced scorecard
8.________ Requires that top managers certify that the company maintains an adequate system of internal controls.	g.Sarbanes-Oxley Act (SOX)

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