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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$21.49
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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 yt yt yt yt yt yt yt
CHAPTER 1 yt
Managerial Accounting yt
Learning Objectives yt
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 period
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costs.
3. Demonstrate how to compute cost of goods manufactured and prepare financial statements for
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amanufacturer.
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4. Discuss trends in managerial accounting.
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ANSWERS TO QUESTIONS yt yt
1. (a) Not true. Managerial accounting is a field of accounting that provides economic and financial i
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nformation for managers and other internal users. yt yt yt yt yt yt
(b) Joe is incorrect. Managerial accounting applies to all types of businesses—
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service, merchandising, and manufacturing. yt yt yt
LO1 BT: C Difficulty: Easy TOT: 3 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost Management
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2. (a) Financial accounting is concerned primarily with external users such as stockholders, creditors
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, and regulators. In contrast, managerial accounting is concerned primarily with internal user
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s such as officers and managers.
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(b) Financial statements are the end product of financial accounting. These statements are prep
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ared quarterly and annually. In managerial accounting, internal reports may be prepared a
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s 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 provide s
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pecial-purpose information for specific internal decisions. yt yt yt yt yt
LO1 BT: C Difficulty: Easy TOT: 5 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost Management
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3. Differences in the content of the reports are as follows:
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yt Financial yt Managerial
, Pertains to business as a whole and ishig
yt yt yt yt yt yt yt yt Pertains to subunits of the business and
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hly aggregated.
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Limited to accrual accounting and cost data.
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Generally accepted accounting principles.
yt yt yt system to any relevant data.
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