CIMA BA2 Fundamentals of Management Accounting Flashcards
What is the purpose of management accounting?
What are the attributes of good information?
What is the difference between data and information?
What are the purposes of costing (i.e. calculating the cost of producing a product or service)?
What are ‘direct costs’?
What is the ‘prime cost’ of a unit of production?
What is mean by ‘indirect costs (or overheads)’?
What is a ‘variable cost’?
What is a ‘fixed cost’?
What is a ‘stepped fixed cost’?
What is a ‘semi-variable cost’?
What is meant by a ‘cost unit’?
What is meant by a ‘cost centre’?
What is the difference between the allocation of overheads and the apportionment of overheads?
What is mean by the word ‘contribution’?
What is mean by the ‘marginal cost of production’?
What is the reason for a difference between the profit calculated under marginal costing principles and the profit calculated under absorption costing principles?
Under what circumstances will the profit using marginal costing and the profit using absorption costing be the same?
What are the purposes of budgeting?
What is a flexed budget?
What is meant by the ‘principal budget factor’?
What is a ‘sunk cost’?
What is meant by the ‘payback period’?
What is the definition of the Internal Rate of Return (IRR)?
What is top-down budgeting?
What is bottom-up budgeting?
What does the sales volume variance measure?
What is the purpose of an operating statement (as part of variance analysis)?
Give possible reasons for an adverse material expenditure variance.
What are the four perspectives covered by the Balanced Scorecard?
What are capital reserves?
What is meant by the term breakeven sales volume?
What is meant by the term breakeven sales revenue?
What are the labels of the axes on a breakeven chart?
What are the labels of the axes on a profit volume graph?
What is meant by the term ‘margin of safety’?
What is the definition of the CS ratio?
What are the principal aims / uses of budgeting?
What is the difference between top-down budgeting and bottom-up (or participative) budgeting?
What is a flexed budget?
What is the purpose of a flexed budget?
Why is important that non-financial performance is measured rather than concentrating solely on financial performance?
Card 1 of 42. Question side.