Cost Accounting (15th Edition)

Published by Prentice Hall
ISBN 10: 0133428702
ISBN 13: 978-0-13342-870-4

Chapter 1 - The Manager and Management Accounting - Assignment Material - Questions: 1-2

Answer

The managerial accountants for TV Station WXYZ would need to compile reports concerning planning, controlling and decision making. The planning process would begin with setting a goal, such as increasing the amount of advertising dollars by 15%. They would then establish a plan for reaching that goal. Planning activities might include determining the best approach to increasing advertising dollars, such as increasing cost of advertising, looking for advertisers to fill empty spots and investigate programming that might bring in greater advertising dollars. Controlling activities would include determining if the plan was successful. They would look at the total change in advertising dollars received, how many new advertisers they were able to recruit, and if they were able to succeed in increasing advertising dollars with new programing.

Work Step by Step

Answer was derived from looking at the activities associated with planning and controlling activities for a managerial accountant.
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