For answers, go to https://www.homeworksimple.com/downloads/category/acct-311/

1. For answers, go to
https://www.homeworksimple.com/downloads/category/acct-311/
Forum 1
Each member of the group will select one question below. You may not select a
question that has already been posted by another group member. Please be sure that
you clearly identify the question number you have selected.
1. How does cost accounting differ from financial accounting and how, if at all,
does the difference impact the ethics involved in serving in either role? How
would you relate Biblical principles to this question?
2. Relate the IMA 4 principles (honesty, fairness, objectivity, and responsibility) to
biblical principles.
3. Why do management accountants need to understand their company’s
strategy?
4. Define corporate social responsibility and relate it to Biblical principles.
5. Describe the difference between a contribution margin financial statement and
a traditional format income statement.
Forum 2
Each member of the group will select one question below. You may not select a
question that has already been posted by another group member. Please be sure that you
clearly identify the question number you have selected.
1. What is meant by a product’s contribution margin? How is this ratio useful in
planning business operations?
2. What is meant by the term operating leverage? Is high operating leverage a
positive or negative position?
3. Compare and contrast the arguments of treating fixed manufacturing costs as
product costs/period costs.
4. Under absorption costing, how is it possible to increase net operating income
without increasing sales? Is this ethical in all situations?
5. Relate the IMA standard of competence to Biblical principles.
Forum 3
Each member of the group will select one question below. You may not select a
question that has already been posted by another group member. Please be sure that you
clearly identify the question number you have selected.

2. 1. “As a practical matter, planning and control mean exactly the same thing.” Do
you agree or disagree with this statement? Explain.
2. What are some of the possible reasons that actual results may differ from what
had been budgeted at the beginning of the period?
3. How does a flexible budget based on two cost drivers differ from a flexible
budget based on a single cost driver?
4. Relate the IMA standard of confidentiality to Biblical principles.
5. Relate the IMA procedure for resolution of ethical conflict to Biblical principles.
Forum 4
Each member of the group will select one question below. You may not select a
question that has already been posted by another group member. Please be sure that you
clearly identify the question number you have selected.
1. Airlines sometimes offer reduced rates during certain times of the week to
members of a businessperson’s family if they accompany him or her on trips.
How does the concept of relevant costs enter into the decision by the airline to
offer reduced rates of this type?
2. “Variable costs and fixed costs mean the same thing.” Do you agree? Explain.
3. What is the major criticism of the payback and simple rate of return methods of
making capital budgeting decisions?
4. Relate the IMA standard of integrity to Biblical principles.
5. Relate the IMA standard of credibility to Biblical principles.
ResearchPaper Instructions
For your Individual Research Paper, you will choose a topic, approved by the instructor
that deals with some aspect of theory related to topics covered in the course. Use the
Liberty University Research Portal and other sources to search for journal articles in
professional accounting and business journals that pertain to your topic.
You must seek your instructor's approval of the topic. Then, you will write a 8–10-page,
double-spaced research paper that adheres to APA format. It must include references
from at least 5 different sources, a title page, and a reference page.