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Managerial Accounting: Creating Value in a Dynamic
Business Environment, 13th Edition by Hilton
Chapters 1 - 17 Complete

,TABLE OF CONTENTS FR FR




Chapter 1: The Changing Role of Managerial Accounting in a Dynamic Business Envi
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ronmentChapter 2: Basic Cost Management Concepts
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Chapter 3: Product Costing and Cost Accumulation in a Batch Production Environme
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ntChapter 4: Process Costing and Hybrid Product-Costing Systems
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Chapter 5: Activity-Based Costing and Management
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Chapter 6: Activity Analysis, Cost Behavior, and Cost Esti
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mationChapter 7: Cost-Volume-Profit Analysis
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Chapter 8: Variable Costing and the Measurement of ESG and Quality Cos
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tsChapter 9: Financial Planning and Analysis: The Master Budget
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Chapter 10: Standard Costing and Analysis of Direct Costs
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Chapter 11: Flexible Budgeting and the Management of Overhead and Support Activit
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y CostsChapter 12: Responsibility Accounting and the Balanced Scorecard
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Chapter 13: Investment Centers and Transfer Pricing
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Chapter 14: Decision Making: Relevant Costs and Bene
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fits

Chapter 15: Target Costing and Cost Analysis for Pricing Dec
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isionsChapter 16: Capital Expenditure Decisions
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Chapter 17: Allocation of Support Activity Costs and Joint Costs
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Appendix I: The Sarbanes- FR FR FR




Oxley Act, Internal Controls, and Management AccountingAppendix II: Compound In
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terest and the Concept of Present Value
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Appendix III: Inventory Management
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,CHAPTER 1 FR




The Crucial Role of Managerial Accounting in a
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Dynamic Business Environment
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FOCUS ON ETHICS (Located before the Chapter Summary in the text.)
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The focus-on- FR




ethics inset for Chapter 1 is the IMA Statement of Ethical Professional Practice. Instructors c
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an use this list of ethical principles and standards to lead a class discussion. The discu
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ssion can also range to consideration of how these standards may have been violate
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d by accountants and managers involved in the various ethical scandals uncovered over
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the past several years. It is also useful to discuss the pros and cons of the procedures tha
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t IMA suggests for its members when they believe they know about ethical lapses in their
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organizations.
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ANSWERS TO REVIEW QUESTIONS FR FR FR




1-1 The explosion in e- FR F R F R




commerce will affect managers in significant ways. One effect will be a drastic r
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eduction in paper work. Millions of transactions between businesses are now bei
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ng conducted electronically with no hard-
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copy documentation. Along withthis method of communicating for business tra
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nsactions comes the very significant issue of information security. Businesses ne
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ed to find ways to protect confidential information in their own computers, in c
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loud computing data centers, and while moving across the internet, while at t
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he same time sharing the information necessary to complete transactions. Anoth
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er effect of e-
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commerce is the dramatically increased speed with which business transactions c
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an be conducted. In addition, there will be dramatic changes in the way manageri
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al accounting procedures are carried out, one example being cloud-
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based budgeting, which is the enterprise- FR FR FR FR FR




wide and electroniccompletion of a company’s budgeting process using cloud-
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based software and data storage. FR FR FR FR

, 1-2 Plausible goals for the organizations listed are as follows:
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(a) Amazon.com: (1) To achieve and maintain profitability, and (2) to grow o FR FR FR FR FR FR FR FR FR FR FR




n-
line sales of their many products. Amazon is also famous (infamous) for want
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ing to have every product in the world on its site.
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(b) American Red Cross: (1) To raise funds from the general public sufficient to h FR FR FR FR FR FR FR FR FR FR FR FR FR




ave resources available to meet any disaster that may occur, and (2) to pr
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ovide assistance to people who are victims of a disaster anywhere in the world on s
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hort notice. FR




(c) General Motors: (1) To earn income sufficient to provide a good return on
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the investment of the company's stockholders, and (2) to provide the highest-
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quality product possible. FR FR




(d) Wal-
Mart: (1) To penetrate the retail market in virtually every location in the United St
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ates, and (2) to grow over time in terms of number of retail locations, total asset
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s, and earnings. Also, to be competitive with Amazon in the e-retail space.
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(e) City of Seattle: (1) To maintain an urban environment as free of pollution
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as possible, and (2) to provide public safety, police, and fire protection to the c
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ity's citizens. FR




(f) Hertz: (1) To be a recognizable household name associated with rental ca
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r services, and (2) to provide reliable and economical transportation services to th
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e company's customers.
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1-3 The four basic management activities are listed and defined as follows:
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(a) Decision making: Choosing among the available alternatives. F R F R F R F R F R F R




(b) Planning: Developing a detailed financial and operational descrip F R F R F R F R F R F R F R




tion of anticipated operations.
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(c) Directing operations: Running the organization on a day-to-day basis.
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(d) Controlling: Ensuring that the organization operates in the intended ma F R F R F R F R F R F R F R F R F R




nner andachieves its goals. F R R
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