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Managerial Accounting Tools for Business Decision Making, 9th Edition Solution Manual by Jerry J. Weygandt, Paul D. Kimmel, Verified Chapters 1 - 14, Complete Newest Version$19.49
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Managerial Accounting Tools for Business Decision Making, 9th Edition Solution Manual by Jerry J. Weygandt, Paul D. Kimmel, Verified Chapters 1 - 14, Complete Newest Version
Managerial Accounting Tools for Business Decision Making, 9th Edition Solution Manual by Jerry J. Weygandt, Paul D. Kimmel, Verified Chapters 1 - 14, Complete Newest Version Solution Manual For Managerial Accounting Tools for Business Decision Making, 9th Edition by Jerry J. Weygandt, Paul D. Kimme...
, Managerial Accounting Tools for Business Decision Making
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CHAPTER 1 QB
Managerial Accounting QB
Learning Objectives QB
1. Identify the features of managerial accounting and the functions of management.
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2. Describe the classes of manufacturing costs and the differences between product and
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periodcosts. B
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3. Demonstrate how to compute cost of goods manufactured and prepare financial statemen
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ts for amanufacturer.
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4. Discuss trends in managerial accounting.
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ANSWERS TO QUESTIONS QB QB
1. (a) Not true. Managerial accounting is a field of accounting that provides economic and fin
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ancial information for managers and other internal users.
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(b) Joe is incorrect. Managerial accounting applies to all types of businesses—
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service, merchandising, and manufacturing.
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agement
2. (a) Financial accounting is concerned primarily with external users such as stockholders, cre
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ditors, and regulators. In contrast, managerial accounting is concerned primarily with i
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nternal users such as officers and managers.
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(b) Financial statements are the end product of financial accounting. These statements are
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prepared quarterly and annually. In managerial accounting, internal reports may be
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prepared as frequently as needed.
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(c) The purpose of financial accounting is to provide general-
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purpose information for external users. The purpose of managerial accounting is to pr
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ovide special-purpose information for specific internal decisions.
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agement
3. Differences in the content of the reports are as follows:
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QB Financial QB Managerial
, Pertains to business as a whole and is
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Q Pertains to subunits of the business
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highly aggregated.
QB andmay be very detailed.
B
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Limited to accrual accounting and cost data.
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Generally accepted accounting principles.
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