1/15/2021 Crossword Puzzle Maker: Final Puzzle

Introduction to Strategic Cost Management

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ACROSS
2 technique in which the firm determines the desired cost for the product or service, given
a competitive market price so the firm can earn a desired profit
5 type of compensation that includes salaries and bonuses
8 financial plan of the resources needed to carry out tasks and meet financial goals
9 the process of delegating the decision-making authority throughout an organization
10 the philosophy that activities are undertaken only as needed or demanded
13 process of deciding whether or not to commit resources to projects whose costs and
benefits are spread over several time periods
14 a competitive strategy implemented by creating perception among consumers that the
product or service is unique in some important way
16 a competitive strategy in which firm succeeds in producing products or services at
lowest cost in the industry
17 technique used to improve speed in the manufacturing process; it focuses the
manager's attention of the constraints, or bottlenecks that slow the production process
18 curve that reflects the increased rate at which people perform tasks as they gain
experience
20 also known as chief accounting officer, the financial executive primarily responsible for
management accounting and financial accounting
21 from a Greek word that means "art of troop leader; office of general, command,
generalship"; a general plan to achieve one or more long-term or overall goals under
conditions of uncertainty
22 senior executive responsible for both accounting and financial operations to whom
controller and treasurer report

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1/15/2021 Crossword Puzzle Maker: Final Puzzle
23 or historical costs, these are never relevant costs in decisions because they are not
avoidable

DOWN
1 technique in which management develops policies and practices to ensure that the
firm's products and services exceed customers' expectations
3 it needs the output of cost accounting to provide managers with information which aids
decision
4 is the ratio of output to input
6 expected future costs which differ between the decision alternatives
7 measures an organization's performance from 4 perspectives: (1) financial (2)customer
(3) internal processes and (4) learning & growth
11 is the value assigned to goods and services transferred between segments within the
company; it is the price charged when one segment of a company provides goods or
services to another segment of the company
12 has custody of cash and funds invested in various marketable securities, responsible in
managing cash & marketable securities, preparing cash forecasts and obtaining
financing from banks and other lenders
15 are the profits lost by diversion of an input factor from one use to another
19 In accounting, it is defined as the cash amount (or the cash equivalent) given up for an
asset

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