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Solution manual for managerial accounting creating value in a dynamic business environment 13th edition by ronald hilton and

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Solution manual for managerial accounting creating value in a dynamic business environment 13th edition by ronald hilton and

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  • November 28, 2024
  • 936
  • 2024/2025
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SOLUTION MANUAL FOR h h




Managerial Accounting Creating Value in a DynamicB h h h h h h h




usiness Environment 13e Hilton h h h




Chapter 1-17 With Appendix (I II III) h h h h h h




CHAPTER 1
h h




The Crucial Role of Managerial Accounting in a Dynamic
BusinessEnvironment h




FOCUS ON ETHICS (Located before the Chapter Summary in the text.)
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The focus-on- h

ethics inset for Chapter 1 is the IMA Statement of Ethical Professional Practice. Instructors c
h h h h h h h h h h h h h h

an use this list of ethical principles and standards to lead a class discussion. The discussion
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can also range to consideration of how these standards may have been violated by accounta
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nts and managers involved in the various ethical scandals uncovered over the past several y
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ears. It is also useful to discuss the pros and cons of the procedures for ―Resolving Ethical I
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ssues‖that IMA suggests for its members when theybelieve they know about ethical lapses in th
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eir organizations.
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We also introduce here the connection to the ―Ethics Unwrapped‖video series that cansupple
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ment the discussion of ethics in the context of each chapter. In each chapter of the text, we h
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ave suggested topic videos in the series that align with that chapter. Discussion guidance an
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d questions relating to the videos can be found on the ―Ethics Unwrapped‖siteat the URL pr
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ovided. This resource is provided by permission from the University of Texas at Austin, McC
h h h h h h h h h h h h h h

ombs School of Business.h h h




ANSWERS TO REVIEW QUESTIONS h h h



1-1 The explosion in e- h h h

commerce will affect managers in significant ways. One effect will bea drastic reduction i
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n paperwork. Millions of transactions between businesses are conducted electronically w
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ith no hard- h h

copy documentation. Along with this method of communicating for business transaction
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s comes the very significant issue of information security. Businesses need to find ways
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to protect confidential information in their own computers, in cloud computing data cent
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ers, and while moving across the internet, while at the same time sharing the information
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Managerial Accounting,
necessary 13/e transactions. Another effect of e-
to complete h
h h
h 5-1 h h h h h
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LL
h h h h h h h h h h h h h h h h h h h
C.

, commerce is the dramatically increased speed with which business transactions can be c
h h h h h h h h h h h h

onducted. In addition, there will be dramatic changes in the way managerial accounting
h h h h h h h h h h h h

hprocedures are carried out, one example
h h h h h




5-2 SolutionshManual
©hMcGrawhHillhLLC.hAllhrightshreserved.hNohreproductionhorhdistributionhwithouththehpriorhwrittenhconsenthofhMcGrawhHillhL
LC.

, being cloud-based budgeting, which is the enterprise-
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wide and electronic completion ofa company‘s budgeting process using cloud-
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based software and data storage.
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1-2 Plausible goals for the organizations listed are as follows:
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(a) Amazon.com: (1) To achieve and maintain profitability, and (2) to grow on- h h h h h h h h h h h

line sales of their many products. Amazon is also famous (infamous) for wanting t
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o have every product in the world on its site.
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(b) American Red Cross: (1) To raise funds from the general public sufficient to haver
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esources available to meet any disaster that may occur, and (2) to provide assista
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nce to people who are victims of a disaster anywhere in the world on short notice.
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(c) General Motors: (1) To earn income sufficient to provide a good return on the inve
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stment of the company's stockholders, and (2) to provide the highest-
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quality product possible. h h



(d) Wal-
Mart: (1) To penetrate the retail market in virtually every location in the United Stat
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es, and (2) to grow over time in terms of number of retail locations, total assets, an
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d earnings. Also, to be competitive with Amazon in the e-retail space.
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(e) City of Seattle: (1) To maintain an urban environment as free of pollution as possib
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le, and (2) to provide public safety, police, and fire protection to the city's citizens.
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(f) Hertz: (1) To be a recognizable household name associated with rental car service
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s, and (2) to provide reliable and economical transportation services tothe com
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pany's customers. h



1-3 The four basic management activities are listed and defined as follows:
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(a) Decision making: Choosing among the available alternatives.
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(b) Planning: Developing a detailed financial and operational description ofanticipate
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d operations.
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(c) Directing operations: Running the organization on a day-to-day basis.
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(d) Controlling: Ensuring that the organization operates in the intended manner and
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achieves its goals. h h




ManagerialhAccounting,h13/e 5-3
©hMcGrawhHillhLLC.hAllhrightshreserved.hNohreproductionhorhdistributionhwithouththehpriorhwrittenhconsenthofhMcGrawhHillhLL
C.

, 1-4 Examples of the four primary management activities in the context of a national fast-
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food chain are as follows:
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(a) Decision making: Choosing among several possible locations for a new fast-
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foodoutlet. h



(b) Planning: Developing a cost budget for the food and paper products to be used du
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ring the next quarter in a particular fast-food restaurant.
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(c) Directing operations: Developing detailed schedules for personnel for the next mo
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nth to provide counter service in a particular fast-food restaurant.
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(d) Controlling: Comparing the actual cost of paper products used during a particular
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month in a restaurant with the anticipated cost of paper products for that same ti
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me period. h



1-5 Examples of the objectives of managerial-
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accounting activity in an airline company are described below:
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(a) Providing information for decision making and planning, and proactively participa
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ting as part of the management team in the decision making and planning process
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es: Managerial accountants provide estimates of the cost of adding a flight on the
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route from Dallas to Miami and actively participate in making the decision about ad
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ding the flight. h h



(b) Assisting managers in directing and controlling operations: Managerial accounta
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nts provide information about the actual costs of flying the company‘s Asian route
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s during a particular month.
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(c) Motivating managers and other employees toward the organization's goals: A bud
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get is provided for the cost of handling baggage at Chicago O'Hare Airport. The bu
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dget is given to the airline's baggage handling manager, who is expected to strive
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to achieve the budget.
h h h



(d) Measuring the performance of activities, subunits, managers, and other employee
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s within the organization: Quarterly income statements are prepared foreach of th
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e airline's major geographical sectors, and these income reports are used to eval
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uate the earnings performance of each sector during the relevant time period.
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(e) Assessing the organization's competitive position and working with other manage
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rs to ensure the organization's long-
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run competitiveness in its industry: Information about industry-
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wide performance standards is obtained and compared with the airline's own perf
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ormance. For example, how does the airline stack up against its competitors in tic
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ket prices, on-
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time departures, mishandled baggage, customer complaints, and safety?
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5-4 SolutionshManual
©hMcGrawhHillhLLC.hAllhrightshreserved.hNohreproductionhorhdistributionhwithouththehpriorhwrittenhconsenthofhMcGrawhHillhL
LC.

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