Which of the following is a characteristic of management advisory systems?

March 08, 2022/ Steven Bragg

What are Management Advisory Services?

Management advisory services are consulting services performed by a specialist organization for its clients. These services are intended to provide advice regarding the operations and finances of clients. The services may address any of the following areas:

  • Asset valuation

  • Business strategy

  • Computer systems

  • Litigation support

  • Mergers and acquisitions

  • Organizational structure

  • Process analysis

  • Risk management

A CPA firm may provide management advisory services if this group is separated from the auditing and tax functions.

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B

It is the practice of helping organizations to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement.

A. Accounting
B. Management Consulting
C. Total quality management
D. Auditing

D

Following are possible end-products of an MAS engagement, except

A. a management information system
B. a sales reporting system
C. a cost accounting sytem
D. None of the above

D

CPAs are in a more advantageous position than members of other professions to render MAS because

A. most CPAs are highly educated.
B. only CPAs may render MAS.
C. a CPA is a person with recognized standing
D. a CPA is already familiar with the client and his business, and enjoys his client's confidence .

D

It refers to the ability of the practitioner to maintain his role as an objective adviser or consultant without making any attempt to make decisions for the management.

A. Maturity
B. Objectivity
C. Integrity
D. Independence in mental attitude

C

Which of the following is not a characteristics of MAS?

A. The nature of work requires a lesser need for junior assistance.
B. A wider variety of assignments are encountered in MAS than in audit engagements.
C. MAS engagements are recurring.
D. Actions to be taken are identified, the benefits of which will be received in the future.

A

It is an organized or established set of interrelated components that interact to accomplish specific objectives.

A. System
B. Subsystem
C. Technology
D. Flowchart

A

Usually considered as the end product of an accounting work.

A. Financial reports
B. Financial analysis
C. Financial data
D. Financial ratios

C

It is the process of developing specifications for hardware, software, manpower, data resources and information products required to develop a system.
A. Operating system
B. information design
C Systems design
D. Systems operations

A

Decision support systems (DSS) are extensions of MIS concept that are useful for semi constructed problems, such as those requiring the decision maker to exercise judgement in controlling the process, but allowing for certain aspects of the problem to be programmed.

A. Expert system
B. Analytical models and specialized data bases
C. Interactive computer based modeling processes
D. Decision-maker's own insights and judgement.

B

Which of the following is not a characteristics of computer machine language?

A. Hexadecimal code
B. Assembly language
C. On /off electrical switches
D. Internal binary code

D

It refers to the communication of electronic documents directly from a computer in one entity to a computer in another entity.

A. Cooperative processing
B. Interactive processing
C. Executive report system
D. Electronic data interchange

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What is the primary purpose of management advisory services?

Management advisory services are consulting services performed by a specialist organization for its clients. These services are intended to provide advice regarding the operations and finances of clients.

What is the nature of management advisory service?

Description of Management Advisory Services — The conduct of special studies, preparation of recom mendations, development of plans and programs, and provision of advice and technical assistance in their implementation.

Which of the following is a controller's responsibility?

 Controllers have the following functions: planning and controlling, reporting, evaluation of performance, government relations, protection of assets, economic appraisal, and tax administration.

What is management accounting?

Managerial accounting is the practice of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for the pursuit of an organization's goals.