SOLUTION MANUAL Horngren's Accounting, The Managerial Chapters, 14th Edition By Tracie Miller-Nobles Brenda Mattison, All Chapters 1 - 9

SOLUTIONMANUAL c




Horngren'sAccounting,TheManagerialChapters,14thEdition
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ByTracieMiller-Nobles Brenda Mattison, AllChapters1 -9
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,Table of contents
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1. IntroductiontoManagerialAccounting c c c




2. JobOrderCosting
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3. ProcessCosting c




4. Cost-Volume-ProfitAnalysis c




5. MasterBudgets c




6. FlexibleBudgetsandStandardCost Systems
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7. CostAllocationandResponsibilityAccounting
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8. Short-TermBusinessDecisions c c




9. CapitalInvestmentDecisions c c

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IntroductiontoManagerialAccounting c c c




Review Questions c c cc




1. What is the primary purpose of managerial accounting?
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The primary purpose of managerial accounting is to provide information to help managers plan,
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c direct, control, and make decisions.
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2. List six differences between financial accounting and managerial accounting.
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Financial accounting and managerial accounting differ on the following 6 dimensions: (1)
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primary
c c users, (2) purpose of information, (3) focus and time dimension of the information, (4)
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rules and re- strictions, (5) scope of information, and (6) behavioral.
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3. Explain the difference between line positions and staff positions.
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Line positions are directly involved in providing goods or services to customers. Staff positions support
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line positions.
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4. Explain the differences between planning, directing, and controlling.
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Planning means choosing goals and deciding how to achieve them. Directing involves running the day-
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cto-day operations of a business. Controlling is the process of monitoring operations and keepingthe
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c company on track.
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5. List the four IMA standards of ethical practice and briefly describe each.
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The four IMA standards of ethical practice and a description of each follow.
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I. Competence.
Maintain an appropriate level of professional leadership and expertise by enhancing cc cc cc cc cc cc cc cc cc cc




knowledge and skills. c c cc cc




Perform professional duties in accordance with relevant laws, regulations, and technical cc cc cc cc cc cc cc cc cc cc




standards. c c




Provide decision support information and recommendations that are accurate, clear, concise, cc cc cc cc cc cc cc cc cc cc