Complete Solutions Manual for Managerial Accounting: Creating Value in a Dynamic Business Environment, 13th Edition 13e by Ronald Hilton and David Platt. ISBN-13: 0699
Full Chapters Solutions Manual
Chapter 1: The Changing Role of Managerial Accounting in a Dynamic Business Environment
Chapt...
CHAPTER 1
The Crucial Role of Managerial Accounting in a
Dynamic Business Environment
FOCUS ON ETHICS (Located before the Chapter Summary in the text.)
The focus-on-ethics inset for Chapter 1 is the IMA Statement of Ethical Professional Practice.
Instructors can use this list of ethical principles and standards to lead a class discussion.
The discussion can also range to consideration of how these standards may have been
violated by accountants and managers involved in the various ethical scandals uncovered
over the past several years. It is also useful to discuss the pros and cons of the procedures
for “Resolving Ethical Issues” that IMA suggests for its members when they believe they
know about ethical lapses in their organizations.
We also introduce here the connection to the “Ethics Unwrapped” video series that can
supplement the discussion of ethics in the context of each chapter. In each chapter of the
text, we have suggested topic videos in the series that align with that chapter. Discussion
guidance and questions relating to the videos can be found on the “Ethics Unwrapped” site
at the URL provided. This resource is provided by permission from the University of Texas at
Austin, McCombs School of Business.
ANSWERS TO REVIEW QUESTIONS
1-1 The explosion in e-commerce will affect managers in significant ways. One effect will
be a drastic reduction in paperwork. Millions of transactions between businesses are
conducted electronically with no hard-copy documentation. Along with this method
of communicating for business transactions comes the very significant issue of
information security. Businesses need to find ways to protect confidential information
in their own computers, in cloud computing data centers, and while moving across
the internet, while at the same time sharing the information necessary to complete
transactions. Another effect of e-commerce is the dramatically increased speed with
which business transactions can be conducted. In addition, there will be dramatic
changes in the way managerial accounting procedures are carried out, one example
being cloud-based budgeting, which is the enterprise-wide and electronic completion
of a company’s budgeting process using cloud-based software and data storage.
Managerial Accounting, 13/e 1-1
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