Cost15EChapter01_Solutions 成本會(huì)計(jì)課后習(xí)題答案

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1、CHAPTER 1 THE MANAGER AND MANAGEMENT ACCOUNTING See the front matter of this Solutions Manual for suggestions regarding your choices of assignment material for each chapter. 1-1 Management accounting measures, analyzes, and reports financial and nonfinancial information that helps managers m

2、ake decisions to fulfill the goals of an organization. It focuses on internal reporting and is not restricted by generally accepted accounting principles (GAAP). Financial accounting focuses on reporting to external parties such as investors, government agencies, and banks. It measures and records

3、 business transactions and provides financial statements that are based on generally accepted accounting principles (GAAP). Other differences include (1) management accounting emphasizes the future (not the past), and (2) management accounting influences the behavior of managers and other employee

4、s (rather than primarily reporting economic events). 1-2 Financial accounting is constrained by generally accepted accounting principles. Management accounting is not restricted to these principles. The result is that · management accounting allows managers to charge interest on owners’ capital

5、to help judge a division’s performance, even though such a charge is not allowed under GAAP, · 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 (s

6、uch as present values or resale prices) not permitted under GAAP. 1-3 Management accountants can help to formulate strategy by providing information about the sources of competitive advantage—for example, the cost, productivity, or efficiency advantage of their company relative to competitors or

7、 the premium prices a company can charge relative to the costs of adding features that make its products or services distinctive. 1-4 The business functions in the value chain are · Research and development—generating and experimenting with ideas related to new products, services, or processes.

8、 · Design of products and processes—the detailed planning, engineering, and testing of products and processes. · Production—procuring, transporting, storing, and assembling resources to produce a product or deliver a service. · Marketing—promoting and selling products or services to customers or p

9、rospective customers. · Distribution—processing orders and shipping products or services to customers. · Customer service—providing after-sales service to customers. 1-5 Supply chain describes the flow of goods, services, and information from the initial sources of materials and services to the

10、 delivery of products to consumers, regardless of whether those activities occur in the same organization or in other organizations. Cost management is most effective when it integrates and coordinates activities across all companies in the supply chain as well as across each business function in

11、an individual company’s value chain. Attempts are made to restructure all cost areas to be more cost-effective. 1-6 “Management accounting deals only with costs.” This statement is misleading at best, and wrong at worst. Management accounting measures, analyzes, and reports financial and nonfinan

12、cial information that helps managers define the organization’s goals and make decisions to fulfill those goals. Management accounting also analyzes revenues from products and customers in order to assess product and customer profitability. Therefore, while management accounting does use cost informa

13、tion, it is only a part of the organization’s information recorded and analyzed by management accountants. 1-7 Management accountants can help improve quality and achieve timely product deliveries by recording and reporting an organization’s current quality and timeliness levels and by analyzing

14、 and evaluating the costs and benefits—both financial and nonfinancial—of new quality initiatives, such as TQM, relieving bottleneck constraints, or providing faster customer service. 1-8 The five-step decision-making process is (1) identify the problem and uncertainties; (2)?obtain information;

15、(3) make predictions about the future; (4) make decisions by choosing among alternatives; and (5) implement the decision, evaluate performance, and learn. 1-9 Planning decisions focus on selecting organization goals and strategies, predicting results under various alternative ways of achieving th

16、ose goals, deciding how to attain the desired goals, and communicating the goals and how to attain them to the entire organization. Control decisions focus on taking actions that implement the planning decisions, deciding how to evaluate performance, and providing feedback and learning to help fut

17、ure decision making. 1-10 The three guidelines for management accountants are as follows: 1. Employ a cost-benefit approach. 2. Recognize technical and behavioral considerations. 3. Apply the notion of “different costs for different purposes.” 1-11 Agree. A successful management accountant

18、requires general business skills (such as understanding the strategy of an organization) and people skills (such as motivating other team members) as well as technical skills (such as computer knowledge, calculating costs of products, and supporting planning and control decisions). 1-12 The new c

19、ontroller could reply in one or more of the following ways: (a) Demonstrate to the plant manager how he or she could make better decisions if the plant controller was viewed as a resource rather than a deadweight. In a related way, the plant controller could show how the plant manager’s time and re

20、sources could be saved by viewing the new plant controller as a team member. (b) Demonstrate to the plant manager a good knowledge of the technical aspects of the plant. This approach may involve doing background reading. It certainly will involve spending much time on the plant floor speaking to p

21、lant personnel. (c) Show the plant manager examples of the new plant controller’s past successes in working with line managers in other plants. Examples could include · assistance in preparing the budget, · assistance in analyzing problem situations and evaluating financial and nonfinancial aspec

22、ts of different alternatives, and · assistance in submitting capital budget requests. (d) Seek assistance from the corporate controller to highlight to the plant manager the importance of many tasks undertaken by the new plant controller. This approach is a last resort but may be necessary in some

23、 cases. 1-13 The controller is the chief management accounting executive. The corporate controller reports to the chief financial officer, a staff function. Companies also have business unit controllers who support business unit managers or regional controllers who support regional managers in ma

24、jor geographic regions. 1-14 The Institute of Management Accountants (IMA) sets standards of ethical conduct for management accountants in the following four areas: · Competence · Confidentiality · Integrity · Credibility 1-15 Steps to take when established written policies provide insuffi

25、cient guidance are as follows: (a) Discuss the problem with the immediate superior (except when it appears that the superior is involved). (b) Clarify relevant ethical issues by confidential discussion with an IMA Ethics Counselor or other impartial advisor. (c) Consult your own attorney as to le

26、gal obligations and rights concerning the ethical conflicts. 1-16 (15 min.) Value chain and classification of costs, computer company. Cost Item Value Chain Business Function a. b. c. d. e. f. g. h. Production Distribution Design of products and processes Research and developmen

27、t Customer service or marketing Design of products and processes (or research and development) Marketing Production 1-17 (15 min.) Value chain and classification of costs, pharmaceutical company. Cost Item Value Chain Business Function a. b. c. d. e. f. g. h. Marketing Design

28、of products and processes Customer service Research and development Marketing Production Marketing Distribution 1-18 (15 min.) Value chain and classification of costs, fast-food restaurant. Cost Item Value Chain Business Function a. b. c. d. e. f. g. h. Production Distribu

29、tion Marketing Marketing Marketing Production Design of products and processes (or research and development) Customer service 1-19 (10 min.) Key success factors. Change in Operations/ Management Accounting Key Success Factor a. b. c. d. e. Innovation Cost and efficiency and

30、quality Time Time and cost and efficiency Cost and efficiency 1-20 (10 min.) Key success factors. Change in Operations/ Management Accounting Key Success Factor a. b. c. d. e. Time and cost and efficiency Time and cost and efficiency Quality and cost and efficiency Innovati

31、on and quality Cost and efficiency 1-21 (10–15 min.) Planning and control decisions. Action Decision a. b. c. d. e. Planning Control Control Planning Planning 1-22 (10–15 min.) Planning and control decisions. Action Decision a. b. c. d. e. Planning Control Planning

32、Planning Control 1-23 (15 min.) Five-step decision-making process, manufacturing. Action Step in Decision-Making Process a. b. c. d. e. f. g. Obtain information. Make predictions about the future. Identify the problem and uncertainties. Implement the decision, evaluate perfor

33、mance, and learn. Make predictions about the future. Make decisions by choosing among alternatives. Obtain information. 1-24 (15 min.) Five-step decision-making process, service firm. Action Step in Decision-Making Process a. b. c. d. e. f. Make decisions by choosing among alternat

34、ives. Identify the problem and uncertainties. Obtain information and/or make predictions about the future. Obtain information and/or make predictions about the future. Make predictions about the future. Obtain information. 1-25 (10–15 min.) Professional ethics and reporting division perform

35、ance. 1. Mendez’s ethical responsibilities are well summarized in the IMA’s “Standards of Ethical Conduct for Management Accountants” (Exhibit 1-7 of text). Areas of ethical responsibility include the following: · Competence · Confidentiality · Integrity · Credibility The ethical standar

36、ds related to Mendez’s current dilemma are integrity, competence, and credibility. Using the integrity standard, Mendez should carry out duties ethically and communicate unfavorable as well as favorable information and professional judgments or opinions. Competence demands that Mendez perform her pr

37、ofessional duties in accordance with relevant laws, regulations, and technical standards and provide decision support information that is accurate. Credibility requires that Mendez report information fairly and objectively and disclose deficiencies in internal controls in conformance with organizati

38、onal policy and/or applicable law. Mendez should refuse to book the $200,000 of sales until the goods are shipped. Both financial accounting and management accounting principles maintain that sales are not complete until the title is transferred to the buyer. 2. Mendez should refuse to follow Dal

39、ton’s orders. If Dalton persists, the incident should be reported to the corporate controller. Support for line management should be wholehearted, but it should not require unethical conduct. 1-26 (10–15 min.) Professional ethics and reporting division performance. 1. Wilson’s ethical responsi

40、bilities are well summarized in the IMA’s “Standards of Ethical Conduct for Management Accountants” (Exhibit 1-7 of text). Areas of ethical responsibility include the following: · Competence · Confidentiality · Integrity · Credibility The ethical standards related to Wilson’s current dilemma ar

41、e integrity, competence, and credibility. Using the integrity standard, Wilson should carry out duties ethically and communicate unfavorable as well as favorable information and professional judgments or opinions. Competence demands that Wilson perform his professional duties in accordance with rele

42、vant laws, regulations, and technical standards and provide decision support information that is accurate. Credibility requires that Wilson report information fairly and objectively and disclose deficiencies in internal controls in conformance with organizational policy and/or applicable law. Wilson

43、 should refuse to include the $150,000 of defective inventory. Both financial accounting and management accounting principles maintain that once inventory is determined to be unfit for sale, it must be written off. It may be just a timing issue, but reporting the $150,000 of inventory as an asset wo

44、uld be misleading to the users of the company’s financial statements. 2. Wilson should refuse to follow Leonard’s orders. If Leonard persists, the incident should be reported to the corporate controller of Garman Enterprises. Support for line management should be wholehearted, but it should not r

45、equire unethical conduct. 1-27 (15 min.) Planning and control decisions, Internet company. 1. Planning decisions a. Decision to raise monthly subscription fee c. Decision to upgrade content of online services (later decision to inform subscribers and upgrade online services is an implementatio

46、n part of control) e. Decision to decrease monthly subscription fee starting in November. Control decisions b. Decision to inform existing subscribers about the rate of increase—an implementation part of control decisions d. Dismissal of VP of Marketing—performance evaluation and feedback aspect

47、 of control decisions 2. Other planning decisions that may be made at PostN: decision to raise or lower advertising fees; decision to charge a fee from on-line retailers when customers click-through from PostN to the retailers’ websites. Other control decisions that may be made at PostN: evaluat

48、ing how customers like the new format for the weather information, working with an outside vendor to redesign the website, and evaluating whether the waiting time for customers to access the website has been reduced. 1-28 (20 min.) Strategic decisions and management accounting. 1. The strategi

49、es the companies are following in each case are: a. b. c. d. Cost leadership or low price strategy Product differentiation strategy Cost leadership or low price strategy Product differentiation strategy 2. Examples of information the management accountant can provide for each strategic de

50、cision follow. a. b. c. d. Cost to manufacture and sell the cell phone Productivity, efficiency, and cost advantages relative to competition Prices of competitive cell phones Sensitivity of target customers to price and quality The production capacity of Pe

51、dro Phones and its competitors How the market for cell phones with standard features is growing Cost to develop, produce, and sell new software Premium price that customers would be willing to pay due to product uniqueness Price of basic software Price of closest competitive software Cash n

52、eeded to develop, produce, and sell new software Cost of producing the “store-brand” lip gloss Productivity, efficiency, and cost advantages relative to competition Prices of competitive products Sensitivity of target customers to price and quality The production capacity of Celine Cosmetics

53、and its competitors How the market for lip gloss is growing Cost to produce and sell new line of gourmet bologna Premium price that customers would be willing to pay due to product uniqueness Price of basic meat product Price of closest competitive product Cash available to develop, produce,

54、 and sell special line of gourmet bologna 1-29 (20 min.) Strategic decisions and management accounting. 1. The strategies the companies are following in each case are a. b. c. d. Cost leadership strategy Product differentiation strategy Cost leadership strategy Product differentiation

55、strategy 2. Examples of information the management accountant can provide for each strategic decision follow. a. b. c. d. Cost related to training the new cooks Productivity and efficiency advantages relative to competition Sensitivity of target customers to price and qua

56、lity Cost of delivery service Premium price that customers would be willing to pay for the service Price of closest competitive product Cost to develop new software to check in customers Efficiency and cost advantages relative to competition Sensitivity of target customers to change in se

57、rvice Cost to hire horticultural specialist Premium price that customers would be willing to pay for expert advice Price of closest competitive product 1-30 (15 min.) Management accounting guidelines. 1. Cost-benefit approach 2. Behavioral and technical considerations 3. Different co

58、sts for different purposes 4. Cost-benefit approach 5. Behavioral and technical considerations 6. Cost-benefit approach 7. Behavioral and technical considerations 8. Different costs for different purposes 9. Behavioral and technical considerations 1-31 (15 min.) Management accounting guidel

59、ines. 1. Cost-benefit approach 2. Behavioral and technical considerations 3. Different costs for different purposes 4. Cost-benefit approach or behavioral and technical considerations, for example, how employees will react to the new technology 5. Behavioral and technical considerations 6.

60、Cost-benefit approach 7. Behavioral and technical considerations or different costs for different purposes. The goal of determining the loss in future business because of poor quality beyond the cost of scrap and waste reported in financial statements is to influence behavior toward improving quali

61、ty by recognizing its high cost. 1-32 (15 min.) Role of controller, role of chief financial officer. 1. Activity Controller CFO Managing the company’s long-term investments X Presenting financial statements to the board of directors X Strategic review of different lines of busi

62、nesses X Budgeting funds for a plant upgrade X Managing accounts receivable X Negotiating fees with auditors X Assessing profitability of various products X Evaluating the costs and benefits of a new product design X 2. As CFO, Jimenez will be interacting much more with t

63、he senior management of the company, the board of directors, auditors, and the external financial community. Any experience he can get with these aspects will help him in his new role as CFO. George Jimenez can be better positioned for his new role as CFO by participating in strategy discussions wit

64、h senior management, by preparing the external investor communications and press releases under the guidance of the current CFO, by attending courses that focus on the interaction and negotiations between the various business functions and outside parties such as auditors and, either formally or on

65、the job, getting training in issues related to investments and corporate finance. 1-33 (30 min.) Pharmaceutical company, budgeting, ethics. 1. The overarching principles of the IMA Statement of Ethical Professional Practice are Honesty, Fairness, Objectivity and Responsibility. The statement

66、’s corresponding “Standards for Ethical Conduct…” require management accountants to · Perform professional duties in accordance with relevant laws, regulations, and technical standards. · Refrain from engaging in any conduct that would prejudice carrying out duties ethically. · Communicate information fairly and objectively. · Disclose all relevant information that could reasonably be expected to influence an intended user’s understanding of the reports, analyses, or