Accounting
Accounting
Marketing
Pricing
Product Life Cycle and Forecasting
100
Financial Accounting
What is the area of accounting concerned with preparing financial information for users outside the organization
100
Current Assets are Cash and items that can be turned into cash within one year and are found on what statement ?
What is balance sheet
100
Four stages through which a product progresses: introduction, growth, maturity, and decline
What is product life cycle
100
Introducing a product with a high price then lowering the price over time
What is Skimming
100
total sales of a product that a firm expects to sell during a specific time period under its planned marketing efforts
What is market potential
200
The area of accounting concerned with preparing data for use by managers within the organization
What is Management Accounting
200
Stockholders’ (Owners’) equity is made of:
What is Common Stock - recorded at par value (little economic significance) Retained Earnings - The portion of shareholders’ equity earned by the company but not distributed to its owners in the form of dividends
200
In MikesBikes, the Mountain Bike product is in what stage
What is maturity
200
Strategy of charging prices based on consumer demand
What is Demand-Oriented Pricing
200
1. Start with last known value for total market sales (from “All Product Details” report); 2. List the factors that could affect the forecast, indicating whether they are negative or positive factors; and 3. Use that information to make forecast.
What is lost-horse forecasting
300
Standards and practices used by publicly held corporations in the United States and a few other countries in the preparation of financial statements; on course to converge with IFRS
What is GAAP (Generally Accepted Accounting Principles)
300
Revenues - Expenses = Net Income/Loss
What is Income Statement
300
Differences between a person’s actual state and his or her ideal state; they provide the basic motivation to make a purchase
What are Needs
300
Setting price at an odd number to suggest a lower price. E.g. $19.99 instead of $20.00
What is Odd-Even Pricing
300
If you would extrapolate from the past five years (identify any trend over time) and in this case results in a forecast of 25,000 bikes for 2012.
What is trend analysis
400
Assets = Liabilities + Stockholders’Equity
What is Fundamental Accounting Equation
400
The cost of producing or acquiring a company’s products for sale during a given period
What is Cost of Goods Sold
400
The collection and analysis of information for making marketing decisions
What is Marketing Research
400
Offering new products at low prices in the hopes of achieving high sales volume
What is Penetration Pricing
400
Used for: Operations Capacity planning, production quantity, inventory planning Accounting Cost & profit projections, cash management Finance Timing and amount of funding / borrowing needs Marketing Setting prices, promotion budgets, target market selection
What is forecasting
500
A statement of a firm’s cash receipts and cash payments that presents information on its sources and uses of cash
What is statement of cash flows
500
An accounting method in which revenue is recorded when payment is received and an expense is recorded when cash is paid
What is cash basis
500
product, price, place (distribution), promotion (customer communication)
What is developing the marketing mix
500
When price (P) increases, total revenue (TR) decreases
What is price elasticity
500
A method of calculating the volume of sales needed at a given price to cover fixed costs
What is break even analysis
M
e
n
u