cgma-master-510-x-221-news-quiz

The CGMA Magazine quiz: 12 questions about management accounting in 2012


By Neil Amato

It was a busy year for management accountants, who in 2012 paid close attention to the delicate balance of doing business in emerging markets, the global talent crunch, and evolving risks such as cyber-threats.

Management accountants also paid plenty of attention to topics such as employee engagement and the push in some circles for a more integrated approach to corporate reporting.

Those topics – and many others – were covered by CGMA Magazine. Here’s a quiz to see how well you followed our coverage.

1. According to a survey by Accountemps, a majority of job interviewers form a positive or negative opinion about job candidates within how many minutes:

a. Ten.
b. 20.
c. 30.
d. 60.

2. As the economy shows some signs of improvement, how are companies feeling about the ability to retain key talent?

a. More confident.
b. Less confident.
c. About the same as in 2011.

3. Many faulty business decisions can be traced to a certain type of bias, which leads executives to unwittingly seek information that bolsters what they want to believe. What is that bias called?

a. Always-want-to-be-right bias.
b. Confirmation bias.
c. East Coast bias.
d. Cognitive bias.

4. BYOD is a fast-growing business trend, but it also has risks. What does BYOD stand for?

a. Bring your own dog.
b. Bring your own device.
c. Backyard overdrive.
d. Buy your own digitiser.

5. According to research, employee engagement is _______ globally.

a. Rising slightly.
b. Declining.
c. Steady.
d. At an all-time high.

6. In a UK survey, 50% of men spent at least an hour preparing for a job interview, in terms of research or Q&A practice. What percentage of women spent at least an hour doing the same?

a. 23%.
b. 43%.
c. 63%.
d. 83%.

7. CFOs are increasingly being asked to expand their role beyond finance. The effects of this change are leading to more:

a. Job satisfaction for CFOs.
b. CFOs considering roles such as CEO.
c. Pressure on CFOs to communicate to a variety of stakeholders.
d. All of the above.

8. The scrutiny of national tax regulators, combined with complexity of legislation, is leading to what percentage of company tax directors saying they needed to increase their focus as it applied to mergers and acquisitions:

a. 24%.
b. 44%.
c. 64%.
d. 84%.

9. Among other findings, a CGMA survey about business ethics showed which of the following (choose two):

a. 80% of companies have ethics codes, and 36% collect ethics management information.
b. 60% of companies have ethics codes, and 56% collect ethics management information.
c. 41% of management accountants believe it’s important to collect and analyse ethical information, but 60% don’t believe their company will do so in the near future.
d. 61% of management accountants believe it’s important to collect and analyse ethical information, but 20% don’t believe their company will do so in the near future.

10. At the launch events for the CGMA designation, executive panels focused on the role that _______ value can play in long-term business strategy.

a. Core.
b. Non-financial.
c. Intrinsic.
d. Fair.

11. Since 1996, the average length of corporate annual reports in the UK has:

a. Doubled.
b. Tripled.
c. Quadrupled.
d. Remained the same.

12. A survey by The Institute of Internal Auditors (IIA) shows that internal audit budgets, in general, are projected to do what in the next year:

a. Grow.
b. Shrink.
c. Stay the same.

For the answers, click here.

Neil Amato (namato@aicpa.org) is a CGMA Magazine senior editor.

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