SOLUTIONMANUAL q
Horngren'sAccounting,TheManagerialChapters,14thEdition
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ByTracieMiller-NoblesBrendaMattison,AllChapters1 -9
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,Table of contents
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1. IntroductiontoManagerialAccounting q q q
2. JobOrderCosting
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3. ProcessCosting q
4. Cost-Volume-ProfitAnalysis q
5. MasterBudgets q
6. FlexibleBudgetsandStandardCostSystems
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7. CostAllocationandResponsibilityAccounting
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8. Short-TermBusinessDecisions q q
9. CapitalInvestmentDecisions
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, ChapterM:1 q
IntroductiontoManagerialAccounting q q q
Review Questions q q
1. What istheprimarypurpose ofmanagerial accounting?
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The primary purpose of managerialaccounting isto provide information to help managersplan, direct,
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control,and make decisions.
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2. Listsixdifferencesbetweenfinancialaccountingandmanagerialaccounting.
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Financial accounting and managerial accounting differ on the following 6 dimensions: (1) primary
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q users, (2) purpose of information, (3) focus and time dimension of the information, (4) rules and re-
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qstrictions,(5) scope of information,and (6) behavioral. q q q q q q q
3. Explainthedifferencebetweenlinepositionsandstaffpositions.
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Linepositionsare directly involvedinproviding goodsorservicesto customers. Staffpositions supportline
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positions.
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4. Explainthedifferencesbetweenplanning,directing,andcontrolling.
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Planning meanschoosinggoalsand deciding how toachieve them. Directinginvolvesrunning the day- to-
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day operationsof a business. Controlling isthe processof monitoring operationsandkeepingthe company
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on track.
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5. Listthe four IMAstandardsofethical practice andbrieflydescribeeach.
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ThefourIMA standardsofethical practice anda description of each follow.
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I. Competence.
Maintainan appropriate level of professional leadership and expertise by enhancing q q q q q q q q q q
knowledgeandskills. q q q
Performprofessionaldutiesinaccordancewith relevantlaws,regulations, andtechnical q q q q q q q q q q
standards. q
Providedecision supportinformationandrecommendationsthat are accurate,clear,concise, q q q q q q q q q q
Horngren'sAccounting,TheManagerialChapters,14thEdition
q q q q q q
ByTracieMiller-NoblesBrendaMattison,AllChapters1 -9
q q q q q q q q q
,Table of contents
q q
1. IntroductiontoManagerialAccounting q q q
2. JobOrderCosting
q q
3. ProcessCosting q
4. Cost-Volume-ProfitAnalysis q
5. MasterBudgets q
6. FlexibleBudgetsandStandardCostSystems
q q q q q
7. CostAllocationandResponsibilityAccounting
q q q q
8. Short-TermBusinessDecisions q q
9. CapitalInvestmentDecisions
q q
, ChapterM:1 q
IntroductiontoManagerialAccounting q q q
Review Questions q q
1. What istheprimarypurpose ofmanagerial accounting?
q q q q q q q
The primary purpose of managerialaccounting isto provide information to help managersplan, direct,
q q q q q q q q q q q q q q
control,and make decisions.
q q q q
2. Listsixdifferencesbetweenfinancialaccountingandmanagerialaccounting.
q q q q q q q q
Financial accounting and managerial accounting differ on the following 6 dimensions: (1) primary
q q q q q q q q q q q q
q users, (2) purpose of information, (3) focus and time dimension of the information, (4) rules and re-
q q q q q q q q q q q q q q q q
qstrictions,(5) scope of information,and (6) behavioral. q q q q q q q
3. Explainthedifferencebetweenlinepositionsandstaffpositions.
q q q q q q q q
Linepositionsare directly involvedinproviding goodsorservicesto customers. Staffpositions supportline
q q q q q q q q q q q q q q q
positions.
q
4. Explainthedifferencesbetweenplanning,directing,andcontrolling.
q q q q q q q
Planning meanschoosinggoalsand deciding how toachieve them. Directinginvolvesrunning the day- to-
q q q q q q q q q q q q q q q
day operationsof a business. Controlling isthe processof monitoring operationsandkeepingthe company
q q q q q q q q q q q q q q
on track.
q q
5. Listthe four IMAstandardsofethical practice andbrieflydescribeeach.
q q q q q q q q q q q
ThefourIMA standardsofethical practice anda description of each follow.
q q q q q q q q q q q q
I. Competence.
Maintainan appropriate level of professional leadership and expertise by enhancing q q q q q q q q q q
knowledgeandskills. q q q
Performprofessionaldutiesinaccordancewith relevantlaws,regulations, andtechnical q q q q q q q q q q
standards. q
Providedecision supportinformationandrecommendationsthat are accurate,clear,concise, q q q q q q q q q q
