Solution Manual For Cost Accounting, 14th Edition

Solution Manual For Cost Accounting, 14th Edition makes solving textbook questions easier with expertly crafted solutions.

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1-1CHAPTER 1THEMANAGER AND MANAGEMENT ACCOUNTINGSee the front matter of this Solutions Manual for suggestions regarding your choices ofassignment material for each chapter.1-1Managementaccountingmeasures,analyzesand reports financial and nonfinancialinformation that helps managers make decisions to fulfill the goals of an organization. It focuseson internal reportingand is not restricted by generally accepted accounting principles (GAAP).Financialaccountingfocusesonreportingtoexternalpartiessuchasinvestors,government agencies, and banks. It measures and records business transactions and providesfinancial statements that are based on generally accepted accounting principles (GAAP).Other differences include (1) management accounting emphasizes the future(not thepast),and(2) management accounting influences the behavior of managers andotheremployees(rather than primarily reporting economicevents).1-2Financialaccountingisconstrainedbygenerallyacceptedaccountingprinciples.Management accounting is not restricted to these principles. The result is that•management accounting allows managers to charge interest on owners’ capital to helpjudge a division’s performance, even though such a charge is not allowed underGAAP,•management accounting can include assets or liabilities (such as “brand names”developed internally) not recognized under GAAP, and•management accounting can use asset or liability measurement rules (such as presentvalues or resale prices) not permitted under GAAP.1-3Management accountants can helptoformulatestrategy by providing information aboutthesourcesofcompetitiveadvantage—forexample,thecost,productivity,orefficiencyadvantage of their company relative to competitors or the premium prices a company can chargerelative to the costs of adding features that make its products or services distinctive.1-4The business functions in the value chain are•Research and development—generating and experimenting with ideas related to newproducts, services, or processes.•Design of productsand processes—the detailed planning, engineering, and testingofproductsandprocesses.•Production—procuring, transporting, storingand assembling resources to produce aproduct or deliver a service.•Marketing—promoting and selling products or services to customers or prospectivecustomers.•Distribution—processing orders and shippingproducts or services to customers.•Customer service—providing after-sales serviceto customers.

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Calculus For The Life Sciences by R...

Solution Manual For Cost Accounting, 14th Edition

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