Questions:
1. What is a cost management system?
• What are the components?
1. Why important? What is a cost management system?
• What are the components?
• Why important?
2. What are business ethics? Why are they important?
3. What did all compnies presented on 10/20 have in common? How did they differ?
4. What is the difference between direct margin and operating margin?
• Give an example of each (real company)
5. What is the main objective of the TV show "Shark tank"?
• Who are all of the cast members and what do they have in common?
• What did Daymond John do to start his company?
6. Define budgeting and discuss it's role in planning, controlling and decision making.
7. What is life cycle cost management?
• How can it be used to maximize profits over a products life cycle?
8. Explain how activity based management is a form of "responsibility accounting.
• How does activity based management differ from "financial- based" responsibility accounting?
9. How are 401K matches and R&D factored into a companies bottom line
2. What are business ethics? Why are they important?
3. What did all compnies presented on 10/20 have in common? How did they differ?
4. What is the difference between direct margin and operating margin?
• Give an example of each (real company)
5. What is the main objective of the TV show "Shark tank"?
• Who are all of the cast members and what do they have in common?
• What did Daymond John do to start his company?
6. Define budgeting and discuss it's role in planning, controlling and decision making.
7. What is life cycle cost management?
• How can it be used to maximize profits over a products life cycle?
8. Explain how activity based management is a form of "responsibility accounting.
• How does activity based management differ from "financial- based" responsibility accounting?
9. How are 401K matches and R&D factored into a companies bottom line.