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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$24.89
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...
1. Identify the features of managerial accounting and the functions of management.
JC JC JC JC JC JC JC JC JC JC
2. Describe the classes of manufacturing costs and the differences between product and p
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eriodcosts. JC
3. Demonstrate how to compute cost of goods manufactured and prepare financial statement
JC JC JC JC JC JC JC JC JC JC JC
s for amanufacturer.
JC JC JC
4. Discuss trends in managerial accounting.
JC JC JC JC
ANSWERS TO QUESTIONS JC JC
1. (a) Not true. Managerial accounting is a field of accounting that provides economic and finan
JC JC JC JC JC JC JC JC JC JC JC JC JC JC
cial information for managers and other internal users.
JC JC JC JC JC JC JC
(b) Joe is incorrect. Managerial accounting applies to all types of businesses—
JC JC JC JC JC JC JC JC JC JC
service, merchandising, and manufacturing. JC JC JC
LO1 BT: C Difficulty: Easy TOT: 3 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost Manageme
J C JC J C JC J C JC JC JCJC JC J C JC JC JC JC JC JC JC JC
nt
2. (a) Financial accounting is concerned primarily with external users such as stockholders, cred
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itors, and regulators. In contrast, managerial accounting is concerned primarily with inte
JC JC JC JC JC JC JC JC JC JC JC
rnal users such as officers and managers.
JC JC JC JC JC JC
(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 p
JC JC JC JC JC JC JC JC J C J C JC
repared as frequently as needed. JC JC JC JC
(c) The purpose of financial accounting is to provide general-
JC JC JC JC JC JC JC JC
purpose information for external users. The purpose of managerial accounting is to prov
JC JC JC JC JC JC JC JC JC JC JC JC
, ide special-purpose information for specific internal decisions.
JC JC JC JC JC JC
LO1 BT: C Difficulty: Easy TOT: 5 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost Manageme
J C JC J C JC J C JC JC JCJC JC J C JC JC JC JC JC JC JC JC
nt
3. Differences in the content of the reports are as follows:
JC JC JC JC JC JC JC JC JC
JC Financial JC Managerial
Pertains to business as a whole and ishi J C J C J C J C J C J C J C JC Pertains to subunits of the business a
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ghly aggregated. JC ndmay be very detailed.
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Limited to accrual accounting and cost data.
JC JC JC JC JC JC Extends beyond accrual
Generally accepted accounting principles. JC JC JC accounting
system to any relevant data.
JC JC JC JC
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