Essay about Solutions Account Cost-Horngren-Datar-Y-Foster.

233816 Words Oct 10th, 2014 936 Pages
CHAPTER 1 THE ACCOUNTANT’S ROLE IN THE ORGANIZATION ACCOUNTANT’

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 make 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 business transactions and provides financial statements that are based on generally accepted accounting principles (GAAP). Other
…show more content…
 Design of products, services, and processes processes—the detailed planning and engineering of products, services, or processes.  Production Production—acquiring, coordinating, and assembling resources to produce a product or deliver a service.  Marketing Marketing—promoting and selling products or services to customers or prospective customers.  Distribution Distribution—delivering products or services to customers.  Customer service service—providing after-sale support to customers.

1-

1-5 Supply chain describes the flow of goods, services, and information from the initial sources of materials and services to the 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 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 nonfinancial information that helps managers define the organization’s goals, and make decisions to fulfill them. Management accounting also analyzes revenues from

Related Documents