Solution Manual For Horngren's Financial & Managerial Accounting, The Financial Chapters, 7th Global Edition by Tracie Miller-Nobles, Brenda Mattison ||Complete A+ Guide

SOLUTIONMANUAL v




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 v v v




2. JobOrderCosting
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3. ProcessCosting v




4. Cost-Volume-ProfitAnalysis v




5. MasterBudgets v




6. FlexibleBudgetsandStandardCostSystems
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7. CostAllocationandResponsibilityAccounting
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8. Short-TermBusinessDecisions v v




9. CapitalInvestmentDecisions
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, Chapter M:1 v




IntroductiontoManagerialAccounting v v v




Review Questionsv v




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, direct,
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control, and make decisions.
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2. List six differences between financial accounting andmanagerial accounting.
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Financial accounting and managerial accounting differ on the following 6 dimensions: (1)
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vprimary users, (2) purpose of information, (3) focus and time dimension of the information, (4) rules
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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- to-
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day operations of a business. Controlling is the process of monitoring operations and keepingthe
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vcompany on track. v v




5. List the four IMA standards of ethical practice and brieflydescribe 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
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knowledgeand skills. v v v




Perform professional duties in accordance with relevant laws, regulations, and technical
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standards. v




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