Solutions Manual For Managerial Accounting: Creating Value in a Dynamic Business Environment, 13th Edition by Ronald W. Hilton, David E. Platt, All Chapters 1 - 17, Complete Newest Version

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Managerial Accounting Creating Value in a Dynamic we we we we we we




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Chapter 1-17 With Appendix (I II III)
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CHAPTER 1 we




The Crucial Role of Managerial Accounting in a Dynamic Business
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FOCUS ON ETHICS (Located before the Chapter Summary in the text.)
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The focus-on-ethics inset for Chapter 1 is the IMA Statement of Ethical
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Professional Practice. Instructors can use this list of ethical principles and
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standards to lead a class discussion. The discussion can also range to
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consideration of how these standards may have been violated by accountants and
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managers involved in the various ethical scandals uncovered over the past several
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years. It is also useful to discuss the pros and cons of the procedures for
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―Resolving Ethical Issues‖ that IMA suggests for its members when they believe
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they know about ethical lapses in their organizations.
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We also introduce here the connection to the ―Ethics Unwrapped‖ video series
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that can supplement the discussion of ethics in the context of each chapter. In each
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chapter of the text, we have suggested topic videos in the series that align with that
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chapter. Discussion guidance and questions relating to the videos can be found on
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the ―Ethics Unwrapped‖ site at the URL provided. This resource is provided by
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permission from the University of Texas at Austin, McCombs School of Business.
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ANSWERS TO REVIEW QUESTIONS we we we




1-1 The explosion in e-commerce will affect managers in significant ways. One effect
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will be a drastic reduction in paperwork. Millions of transactions between
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businesses are conducted electronically with no hard-copy documentation.
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Along with this method of communicating for business transactions comes
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the very significant issue of information security. Businesses need to find
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ways to protect confidential information in their own computers, in cloud
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computing data centers, and while moving across the internet, while at the
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same time sharing the information necessary to complete transactions.
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Another effect of e-commerce is the dramatically increased speed with which
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business transactions can be conducted. In addition, there will be dramatic
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changes in the way managerial accounting procedures are carried out, one
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Managerial Accounting, 13/e
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, being cloud-based budgeting, which is the enterprise-wide and electronic completion of
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a company‘s budgeting process using cloud-based software and data storage.
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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
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on-line sales of their many products. Amazon is also famous (infamous)
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for wanting 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
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have resources available to meet any disaster that may occur, and (2)
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to provide assistance to people who are victims of a disaster anywhere
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in the world on short notice.
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(c) General Motors: (1) To earn income sufficient to provide a good return
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on the investment of the company's stockholders, and (2) to provide the
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highest-quality product possible.
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(d) Wal-Mart: (1) To penetrate the retail market in virtually every location in
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the United States, and (2) to grow over time in terms of number of retail
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locations, total assets, and earnings. Also, to be competitive with
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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
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the city's citizens.
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(f) Hertz: (1) To be a recognizable household name associated with
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rental car services, and (2) to provide reliable and economical
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transportation services to the 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.
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(b) Planning: Developing a detailed financial w e w e w e w e w e and w e operational
description 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 manner
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and achieves its goals.
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5-2 Solutions Manual we


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