Solution manual for horngren s accounting the managerial chapters 14th edition By Tracie Miller-Nobles Brenda Mattison

SOLUTIONMANUAL t




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 t t t




2. JobOrderCosting
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3. ProcessCosting t




4. Cost-Volume-ProfitAnalysis t




5. MasterBudgets t




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




9. CapitalInvestmentDecisions
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, ChapterM:1 t




IntroductiontoManagerialAccounting t t t




Review Questions t t




1. What is the primarypurpose 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. Listsix differencesbetweenfinancial accountingandmanagerial accounting.
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Financial accounting and managerial accounting differ on the following 6 dimensions: (1) primary
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t users, (2) purpose of information, (3) focus and time dimension of the information, (4) rules and re-
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tstrictions, (5) scope of information, and (6) behavioral. t t t t t t t




3. Explain the difference between line positions and staffpositions.
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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 company
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on track.
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5. List the four IMA standards of ethical practice andbrieflydescribe 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 t t t t t t t t t t




knowledgeandskills. t t t




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




standards. t




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