This document contains a solution manual for Chapter 1 of the 15th edition of the textbook "Managerial Accounting" by Garrison, Noreen and Brewer. It provides answers to the end-of-chapter questions and solutions for the exercises. Specifically, it summarizes key concepts around the differences between managerial and financial accounting, gives examples of planning and controlling activities, and discusses how accounting information can help with decision making. It also explores how accounting data can be segmented and how budgets can create conflicts when used for multiple purposes.
Managerial Accounting Asia Global 2nd Edition Garrison Solutions Manualfinifej
Full download : https://alibabadownload.com/product/managerial-accounting-asia-global-2nd-edition-garrison-solutions-manual/
Managerial Accounting Asia Global 2nd Edition Garrison Solutions Manual
Prospect engagement has never been more complex due to the recent economic and health crisis. To help CROs and sales leaders reassess risk, we’ve developed Sapphire Ventures’ COVID 19 Prospect Assessment Model to provide an easy way to build a complete understanding of your prospects’ health
and outlook across four key factors, so that you can effectively understand how best to engage and adjust your GTM motion.
Cost management and performance measurements for petroleum upstream industr p...Hamdy Rashed
Cost management and Balanced Scorecard is not appropriate only for manufacturing and commercial industry; cost management is applied in upstream industry such as Petroleum exploration, development and production cost. Many Petroleum Companies don’t pay more attention to cost control or balanced scorecard and especially during exploration phase or small companies except if Companies face financial dilemma, declining production or if they see they cannot meet their planned schedule of Capital program that lead them to not meet their obligation, commitments and required return, therefore, they start considering cost reduction or control. This paper provide management accountant, cost controller, financial controller, financial manager, internal auditor and cost recovery auditor with brief of cost control, how cost is analyzed and managed and performance is measured in Petroleum upstream industry.
Research the following area pertaining to File Systems· How vir.docxgholly1
Research the following area pertaining to File Systems:
· How viruses are saved on hard drive and how antivirus scans dig them out
· How do files systems handle shared file and concurrency
· How are data retrieval utilities able to find files that have been deleted
· Explain how directory system operations work (Create, Opendir, Closedir, etc)
APA FORMAT (Included in-text citations)
Prepare to demonstrate (Power Point or Excel)
Assignment 1SAMPLE Salesforce.comRisk Ranking
(pg. 26)Risk Name
(10-K Annual Report, Other)Description of the risk Risk Profile
(Pg. 28)Severity Scoring (pg 28)Mitigation Planning
(Pg 30)1 - highest severity/frequency (on the list on my table)License RenewalsForecasts of revenue are based on customers renewing their software license contracts. If price increases, customer service drops, or competition increases, then renewals and revenue will decrease.Financial Risk. Could also be partly operational, strategic, industry, or brand3 - concerning to stakeholdersTake internal actions to mitigate the risk. This risk cannot be accepted or transferred. Internal actions include enuring that our pricing reflects market competition and customer expectations, that our products are meeting requirements, that our customer service is providing the highest level support, that we identify clients that are at risk of not renewing and actions are taken.INTELRisk Ranking
(pg. 26)Risk Name
(10-K Annual Report, Other)Description of the risk Risk Profile
(Pg. 28)Severity Scoring (pg 28)Mitigation Planning
(Pg 30)3-Normal ActivityIntel face significant competitionThe industry in which we operate is highly competitive and subject to rapid technological and market developments, changes in industry standards, changes in customer needs, and frequent product introductions and improvements. If we do not anticipate and respond to these developments, our competitive position may weaken, and our products or technologies might be uncompetitive or become obsoleteIndustry Risk. Includes factors that can alter the competitive profile of the industry , such as changes in the entire size of the market that the industry serves, the rate at which the industry is consolidating , and the ability of new competitors to enter the market.5- Potentially business threateningTransfer the risk. I believe that this risk would be acceptable because it will cover the lost profits from business interuptions.3- Normal Activity Investments in new businesses, products, and technologies are inherently risky and may not succeedAn economic downturn or increased uncertainty may also lead to increased credit and collectibility risks, higher borrowing costs or limits on our access to capital markets, reduced liquidity, adverse impacts on our suppliers, failures of counterparties and other financial institutions, and declines in the value of our financial instrumentsFinancial Includes the risks of customer nonpayment , foreign exchange rate variability and capital.
Managerial Accounting Asia Global 2nd Edition Garrison Solutions Manualfinifej
Full download : https://alibabadownload.com/product/managerial-accounting-asia-global-2nd-edition-garrison-solutions-manual/
Managerial Accounting Asia Global 2nd Edition Garrison Solutions Manual
Prospect engagement has never been more complex due to the recent economic and health crisis. To help CROs and sales leaders reassess risk, we’ve developed Sapphire Ventures’ COVID 19 Prospect Assessment Model to provide an easy way to build a complete understanding of your prospects’ health
and outlook across four key factors, so that you can effectively understand how best to engage and adjust your GTM motion.
Cost management and performance measurements for petroleum upstream industr p...Hamdy Rashed
Cost management and Balanced Scorecard is not appropriate only for manufacturing and commercial industry; cost management is applied in upstream industry such as Petroleum exploration, development and production cost. Many Petroleum Companies don’t pay more attention to cost control or balanced scorecard and especially during exploration phase or small companies except if Companies face financial dilemma, declining production or if they see they cannot meet their planned schedule of Capital program that lead them to not meet their obligation, commitments and required return, therefore, they start considering cost reduction or control. This paper provide management accountant, cost controller, financial controller, financial manager, internal auditor and cost recovery auditor with brief of cost control, how cost is analyzed and managed and performance is measured in Petroleum upstream industry.
Research the following area pertaining to File Systems· How vir.docxgholly1
Research the following area pertaining to File Systems:
· How viruses are saved on hard drive and how antivirus scans dig them out
· How do files systems handle shared file and concurrency
· How are data retrieval utilities able to find files that have been deleted
· Explain how directory system operations work (Create, Opendir, Closedir, etc)
APA FORMAT (Included in-text citations)
Prepare to demonstrate (Power Point or Excel)
Assignment 1SAMPLE Salesforce.comRisk Ranking
(pg. 26)Risk Name
(10-K Annual Report, Other)Description of the risk Risk Profile
(Pg. 28)Severity Scoring (pg 28)Mitigation Planning
(Pg 30)1 - highest severity/frequency (on the list on my table)License RenewalsForecasts of revenue are based on customers renewing their software license contracts. If price increases, customer service drops, or competition increases, then renewals and revenue will decrease.Financial Risk. Could also be partly operational, strategic, industry, or brand3 - concerning to stakeholdersTake internal actions to mitigate the risk. This risk cannot be accepted or transferred. Internal actions include enuring that our pricing reflects market competition and customer expectations, that our products are meeting requirements, that our customer service is providing the highest level support, that we identify clients that are at risk of not renewing and actions are taken.INTELRisk Ranking
(pg. 26)Risk Name
(10-K Annual Report, Other)Description of the risk Risk Profile
(Pg. 28)Severity Scoring (pg 28)Mitigation Planning
(Pg 30)3-Normal ActivityIntel face significant competitionThe industry in which we operate is highly competitive and subject to rapid technological and market developments, changes in industry standards, changes in customer needs, and frequent product introductions and improvements. If we do not anticipate and respond to these developments, our competitive position may weaken, and our products or technologies might be uncompetitive or become obsoleteIndustry Risk. Includes factors that can alter the competitive profile of the industry , such as changes in the entire size of the market that the industry serves, the rate at which the industry is consolidating , and the ability of new competitors to enter the market.5- Potentially business threateningTransfer the risk. I believe that this risk would be acceptable because it will cover the lost profits from business interuptions.3- Normal Activity Investments in new businesses, products, and technologies are inherently risky and may not succeedAn economic downturn or increased uncertainty may also lead to increased credit and collectibility risks, higher borrowing costs or limits on our access to capital markets, reduced liquidity, adverse impacts on our suppliers, failures of counterparties and other financial institutions, and declines in the value of our financial instrumentsFinancial Includes the risks of customer nonpayment , foreign exchange rate variability and capital.
UOP BUS 475 Capstone Final Examination Part 2 : Business Question And Answer...UOP E Help
Get without delay supply from specialists in fixing and offering understanding for BUS 475 Capstone Final Examination Part 2, BUS 475 Capstone Final Examination Part 2 Test Paper, UOP Business 475 Final Exam Solution, BUS 475 Capstone Final Examination Part 2 Questions and Answers, BUS 475 Complete Course, BUS 475 Complete Assignment for University Of Phoenix.
11/2/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,navpoint-13,n… 1/49
LearningObjectives
After studying Chapter 1, you will be able to:
Distinguish between �inancial accounting and managerial accounting.
Recognize the primary roles and ethical responsibilities of the management accountant.
De�ine, distinguish, and illustrate key cost concepts.
Understand the differences in cost �lows among service, merchandising, and
manufacturing enterprises.
Distinguish between the behavior of variable and �ixed costs and formulate cost
functions.
Understand cost terms relating to planning and control.
1 Managerial Accounting and Cost Concepts
DragonImages/iStock/Thinkstock
11/2/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,navpoint-13,n… 2/49
Introduce the concept of contribution margin and its variations.
TheController’sWorkDay:WhereDidtheTimeGo?
It’s early October. Mary Rosen, Controller of Herschel Software Products, has just arrived at her
of�ice at about 7:30 a.m. She scans her email messages, checks her electronic calendar, and looks
through her in-basket. She says, “Wow, another ‘normal’ day!” She wonders if she’ll make her
tennis date with her husband at 6 p.m. Her calendar shows:
9:00 Meet with division head of Customer Support to discuss next year’s budget numbers.
Review preliminary budget numbers before meeting.
10:00 Meet with accounting systems analysts to discuss status of a project to improve the �irm’s
monthly management “plan versus actual” reporting system.
11:30 Hold a quick session with Marketing Vice-President, Gary Martin, to discuss pricing
negotiations with new customer.
12:15 Have working lunch with corporate attorney to discuss customer contract wording for a
new product being introduced early next year.
2:00 With budget manager, review September’s actual results and budget comparisons and
identify problem areas. Also, review third quarter results before her presentation to the
President at Friday’s staff meeting.
4:00 Review a special cost-volume-pro�it study of Herschel Software Products, relative to the
�irm’s strategic plan’s pro�itability goals.
Mary also knows that she needs to:
Respond to four email questions about product costs and operating expenses.
Talk to Steve Simcha, New Product Development Vice-President, about a serious cost-
overrun problem with a new product project.
Prepare a presentation on cash �lows for the �irm’s strategic planning meeting next
month.
Write a memo supporting the spending of $100,000 by the Marketing Vice-President on
media contracts.
Every meeting, discussion, and decision that Mary has today, and every day, uses accounting
information. She must generate relevant data in the right form and at the right time. She and her
fellow managers must understand cost behavior, cost/b ...
Strategic management contribute to :
develop competitive advances and reveals implementation practices and mechanisms of control
Allow a long-term alignment and a progressive environment strategy
Lead to globalization and strategic flexibility
7/30/2019 Print
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7/30/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-1,navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,na… 2/93
LearningObjectives
After studying Chapter 1, you will be able to:
Distinguish between �inancial accounting and managerial accounting.
Recognize the primary roles and ethical responsibilities of the management accountant.
De�ine, distinguish, and illustrate key cost concepts.
Understand the differences in cost �lows among service, merchandising, and
manufacturing enterprises.
Distinguish between the behavior of variable and �ixed costs and formulate cost
functions.
Understand cost terms relating to planning and control.
1 Managerial Accounting and Cost Concepts
DragonImages/iStock/Thinkstock
7/30/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-1,navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,na… 3/93
Introduce the concept of contribution margin and its variations.
TheController’sWorkDay:WhereDidtheTimeGo?
It’s early October. Mary Rosen, Controller of Herschel Software Products, has just arrived at her
of�ice at about 7:30 a.m. She scans her email messages, checks her electronic calendar, and looks
through her in-basket. She says, “Wow, another ‘normal’ day!” She wonders if she’ll make her tennis
date with her husband at 6 p.m. Her calendar shows:
9:00 Meet with division head of Customer Support to discuss next year’s budget numbers.
Review preliminary budget numbers before meeting.
10:00 Meet with accounting systems analysts to discuss status of a project to improve the �irm’s
monthly management “plan versus actual” reporting system.
11:30 Hold a quick session with Marketing Vice-President, Gary Martin, to discuss pricing
negotiations with new customer.
12:15 Have working lunch with corporate attorney to discuss customer contract wording for a
new product being introduced early next year.
2:00 With budget manager, review September’s actual results and budget comparisons and
identify problem areas. Also, review third quarter results before her presentation to the
President at Friday’s staff meeting.
4:00 Review a special cost-volume-pro�it study of Herschel Software Products, relative to the
�irm’s strategic plan’s pro�itability goals.
Mary also knows that she needs to:
Respond to four email questions about product costs and operating expenses.
Talk to Steve Simcha, New Product Development Vice-President, about a serious cost-
overrun problem with a new product project.
Prepare a presentation on cash �lows for the �irm’s strategic planning meeting next month.
Write a memo supporting the spending of $100,000 by the Marketing Vice-President on
media contracts.
Every meeting, discussion, and decision that Mary has today, and every ...
Enterprise Risk Management: Minimizing Exposure, Fostering Innovation and Acc...Cognizant
Formal policies and processes for enterprise risk management (ERM) are common among large corporations, such as those in finance and healthcare. However, most technology-focused companies consider ERM an obstacle to innovation. When properly implemented and maintained, an enterprise risk management program can lessen risk, accelerate strategic development, drive innovation and bolster bottom-line growth.
Horngren’s Cost Accounting A Managerial Emphasis, Canadian 9th edition soluti...ssuserf63bd7
https://qidiantiku.com/solution-manual-for-horngrens-cost-accounting-a-managerial-emphasis-canadian-9th-edition-by-srikant-m-datar.shtml
Full download please contact u84757@protonmail.com or qidiantiku.com
Business Value Enhancement – Take Your Business to the Next LevelCBIZ, Inc.
Business value is ultimately a function of the level of sustainable cash flows and the expected rate of return adjusted for risk. Therefore, to increase business value, owners must determine those factors that will increase sustainable cash flows and lower risk, which will lower the expected rate of return. This article addresses key qualitative and quantitative strategies you can adopt to to take your organization to the next level.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Securing Your Peace of Mind: Private Security Guard Services’Dragon Dream Bar
“Private Security Guards Service” provide a crucial layer of protection for individuals, businesses, and events, ensuring safety and peace of mind in various settings. Here's an overview of what private security guard services entail and how they can benefit you.
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UOP BUS 475 Capstone Final Examination Part 2 : Business Question And Answer...UOP E Help
Get without delay supply from specialists in fixing and offering understanding for BUS 475 Capstone Final Examination Part 2, BUS 475 Capstone Final Examination Part 2 Test Paper, UOP Business 475 Final Exam Solution, BUS 475 Capstone Final Examination Part 2 Questions and Answers, BUS 475 Complete Course, BUS 475 Complete Assignment for University Of Phoenix.
11/2/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,navpoint-13,n… 1/49
LearningObjectives
After studying Chapter 1, you will be able to:
Distinguish between �inancial accounting and managerial accounting.
Recognize the primary roles and ethical responsibilities of the management accountant.
De�ine, distinguish, and illustrate key cost concepts.
Understand the differences in cost �lows among service, merchandising, and
manufacturing enterprises.
Distinguish between the behavior of variable and �ixed costs and formulate cost
functions.
Understand cost terms relating to planning and control.
1 Managerial Accounting and Cost Concepts
DragonImages/iStock/Thinkstock
11/2/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,navpoint-13,n… 2/49
Introduce the concept of contribution margin and its variations.
TheController’sWorkDay:WhereDidtheTimeGo?
It’s early October. Mary Rosen, Controller of Herschel Software Products, has just arrived at her
of�ice at about 7:30 a.m. She scans her email messages, checks her electronic calendar, and looks
through her in-basket. She says, “Wow, another ‘normal’ day!” She wonders if she’ll make her
tennis date with her husband at 6 p.m. Her calendar shows:
9:00 Meet with division head of Customer Support to discuss next year’s budget numbers.
Review preliminary budget numbers before meeting.
10:00 Meet with accounting systems analysts to discuss status of a project to improve the �irm’s
monthly management “plan versus actual” reporting system.
11:30 Hold a quick session with Marketing Vice-President, Gary Martin, to discuss pricing
negotiations with new customer.
12:15 Have working lunch with corporate attorney to discuss customer contract wording for a
new product being introduced early next year.
2:00 With budget manager, review September’s actual results and budget comparisons and
identify problem areas. Also, review third quarter results before her presentation to the
President at Friday’s staff meeting.
4:00 Review a special cost-volume-pro�it study of Herschel Software Products, relative to the
�irm’s strategic plan’s pro�itability goals.
Mary also knows that she needs to:
Respond to four email questions about product costs and operating expenses.
Talk to Steve Simcha, New Product Development Vice-President, about a serious cost-
overrun problem with a new product project.
Prepare a presentation on cash �lows for the �irm’s strategic planning meeting next
month.
Write a memo supporting the spending of $100,000 by the Marketing Vice-President on
media contracts.
Every meeting, discussion, and decision that Mary has today, and every day, uses accounting
information. She must generate relevant data in the right form and at the right time. She and her
fellow managers must understand cost behavior, cost/b ...
Strategic management contribute to :
develop competitive advances and reveals implementation practices and mechanisms of control
Allow a long-term alignment and a progressive environment strategy
Lead to globalization and strategic flexibility
7/30/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-1,navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,na… 1/93
7/30/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-1,navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,na… 2/93
LearningObjectives
After studying Chapter 1, you will be able to:
Distinguish between �inancial accounting and managerial accounting.
Recognize the primary roles and ethical responsibilities of the management accountant.
De�ine, distinguish, and illustrate key cost concepts.
Understand the differences in cost �lows among service, merchandising, and
manufacturing enterprises.
Distinguish between the behavior of variable and �ixed costs and formulate cost
functions.
Understand cost terms relating to planning and control.
1 Managerial Accounting and Cost Concepts
DragonImages/iStock/Thinkstock
7/30/2019 Print
https://content.ashford.edu/print/Schneider.4937.17.1?sections=navpoint-1,navpoint-7,navpoint-8,navpoint-9,navpoint-10,navpoint-11,navpoint-12,na… 3/93
Introduce the concept of contribution margin and its variations.
TheController’sWorkDay:WhereDidtheTimeGo?
It’s early October. Mary Rosen, Controller of Herschel Software Products, has just arrived at her
of�ice at about 7:30 a.m. She scans her email messages, checks her electronic calendar, and looks
through her in-basket. She says, “Wow, another ‘normal’ day!” She wonders if she’ll make her tennis
date with her husband at 6 p.m. Her calendar shows:
9:00 Meet with division head of Customer Support to discuss next year’s budget numbers.
Review preliminary budget numbers before meeting.
10:00 Meet with accounting systems analysts to discuss status of a project to improve the �irm’s
monthly management “plan versus actual” reporting system.
11:30 Hold a quick session with Marketing Vice-President, Gary Martin, to discuss pricing
negotiations with new customer.
12:15 Have working lunch with corporate attorney to discuss customer contract wording for a
new product being introduced early next year.
2:00 With budget manager, review September’s actual results and budget comparisons and
identify problem areas. Also, review third quarter results before her presentation to the
President at Friday’s staff meeting.
4:00 Review a special cost-volume-pro�it study of Herschel Software Products, relative to the
�irm’s strategic plan’s pro�itability goals.
Mary also knows that she needs to:
Respond to four email questions about product costs and operating expenses.
Talk to Steve Simcha, New Product Development Vice-President, about a serious cost-
overrun problem with a new product project.
Prepare a presentation on cash �lows for the �irm’s strategic planning meeting next month.
Write a memo supporting the spending of $100,000 by the Marketing Vice-President on
media contracts.
Every meeting, discussion, and decision that Mary has today, and every ...
Enterprise Risk Management: Minimizing Exposure, Fostering Innovation and Acc...Cognizant
Formal policies and processes for enterprise risk management (ERM) are common among large corporations, such as those in finance and healthcare. However, most technology-focused companies consider ERM an obstacle to innovation. When properly implemented and maintained, an enterprise risk management program can lessen risk, accelerate strategic development, drive innovation and bolster bottom-line growth.
Horngren’s Cost Accounting A Managerial Emphasis, Canadian 9th edition soluti...ssuserf63bd7
https://qidiantiku.com/solution-manual-for-horngrens-cost-accounting-a-managerial-emphasis-canadian-9th-edition-by-srikant-m-datar.shtml
Full download please contact u84757@protonmail.com or qidiantiku.com
Business Value Enhancement – Take Your Business to the Next LevelCBIZ, Inc.
Business value is ultimately a function of the level of sustainable cash flows and the expected rate of return adjusted for risk. Therefore, to increase business value, owners must determine those factors that will increase sustainable cash flows and lower risk, which will lower the expected rate of return. This article addresses key qualitative and quantitative strategies you can adopt to to take your organization to the next level.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Securing Your Peace of Mind: Private Security Guard Services’Dragon Dream Bar
“Private Security Guards Service” provide a crucial layer of protection for individuals, businesses, and events, ensuring safety and peace of mind in various settings. Here's an overview of what private security guard services entail and how they can benefit you.
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𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
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➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
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➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
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➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Lars Winkelbauer — Sustainable Development in the Era of Air Cargo Technologylarswinkelbauer23
In the contemporary world, the air cargo industry plays a pivotal role in global trade and commerce. With technological advancements shaping the industry, there is a growing emphasis on sustainable development to minimize environmental impact. This article delves into the realm of air cargo technology and sustainable practices, shedding light on the initiatives and innovations driving the industry towards a greener future. Additionally, Lars Winkelbauer — Navigating the Ethical Landscape: AI in Sustainable Development — provides insightful perspectives on ensuring ethical considerations are integrated into the adoption of these technological advancements.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
1. StuDocu is not sponsored or endorsed by any college or university
Solution Manual of Chapter 1 - Managerial Accounting 15th
Edition (Ray H. Garrison, Eric W. Noreen and Peter C.
Brewer)
Managerial Accounting (University of Sargodha)
StuDocu is not sponsored or endorsed by any college or university
Solution Manual of Chapter 1 - Managerial Accounting 15th
Edition (Ray H. Garrison, Eric W. Noreen and Peter C.
Brewer)
Managerial Accounting (University of Sargodha)
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2. Solution Manual
Managerial Accounting
15th Edition
Managerial Accounting: An Overview
Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
C h a p t e r - 1
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3. 1
Chapter 1
Managerial Accounting: An Overview
Solutions to Questions
1-1 Financial accounting is concerned with
reporting financial information to external
parties, such as stockholders, creditors, and
regulators. Managerial accounting is concerned
with providing information to managers for use
within the organization. Financial accounting
emphasizes the financial consequences of past
transactions, objectivity and verifiability,
precision, and companywide performance,
whereas managerial accounting emphasizes
decisions affecting the future, relevance,
timeliness, and segment performance. Financial
accounting is mandatory for external reports and
it needs to comply with rules, such as generally
accepted accounting principles (GAAP) and
international financial reporting standards
(IFRS), whereas managerial accounting is not
mandatory and it does not need to comply with
externally imposed rules.
1-2 Five examples of planning activities
include (1) estimating the advertising revenues
for a future period, (2) estimating the total
expenses for a future period, including the
salaries of all actors, news reporters, and
sportscasters, (3) planning how many new
television shows to introduce to the market, (4)
planning each television show’s designated
broadcast time slot, and (5) planning the
network’s advertising activities and
expenditures.
Five examples of controlling activities
include (1) comparing the actual number of
viewers for each show to its viewership
projections, (2) comparing the actual costs of
producing a made-for-television movie to its
budget, (3) comparing the revenues earned
from broadcasting a sporting event to the costs
incurred to broadcast that event, (4) comparing
the actual costs of running a production studio
to the budget, and (5) comparing the actual cost
of providing global, on-location news coverage
to the budget.
1-3 The quantitative analysis would focus on
determining the potential cost savings from
buying the part rather than making it. The
qualitative analysis would focus on broader
issues such as strategy, risks, and corporate
social responsibility. For example, if the part is
critical to the organization’s strategy, it may
continue making the part regardless of any
potential cost savings from outsourcing. If the
overseas supplier might create quality control
problems that could threaten the end
consumers’ welfare, then the risks of
outsourcing may swamp any cost savings.
Finally, from a social responsibility standpoint, a
company may decide against outsourcing if it
would result in layoffs at its domestic
manufacturing facility.
1-4 Companies prepare budgets to translate
plans into formal quantitative terms. Budgets
are used for various purposes, such as forcing
managers to plan ahead, allocating resources
across departments, coordinating activities
across departments, establishing goals that
motivate people, and evaluating and rewarding
employees. These various purposes often
conflict with one another, which makes
budgeting one of management’s most
challenging activities.
1-5 Managerial accounting is relevant to all
business students because all managers engage
in planning, controlling, and decision making
activities. If managers wish to influence co-
workers across the organization, they must be
able to speak in financial terms to justify their
proposed courses of action.
1-6 The Institute of Management
Accountants estimates that 80% of accountants
work in non-public accounting environments.
Accountants that work in corporate, non-profit,
and governmental organizations are expected to
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4. Managerial Accounting, 15th Edition
use their planning, controlling, and decision-
making skills to help improve performance.
1-7 Deere & Company is an example of a
company that competes in terms of product
leadership. The company’s slogan “nothing runs
like a Deere” emphasizes its product leadership
customer value proposition.
Amazon.com competes in terms of
operational excellence. The company focuses on
delivering products faster, more conveniently,
and at a lower price than competitors.
Charles Schwab competes in terms of
customer intimacy. It focuses on building
personal relationships with clients so that it can
tailor investment strategies to individual needs.
1-8 Planning, controlling, and decision
making must be performed within the context of
a company’s strategy. For example, if a company
that competes as a product leader plans to grow
too quickly, it may diminish quality and threaten
the company’s customer value proposition. A
company that competes in terms of operational
excellence would select control measures that
focus on time-based performance, convenience,
and cost. A company that competes in terms of
customer intimacy may decide against
outsourcing employee training to cut costs
because it might diminish the quality of
customer service.
1-9 This answer is based on Nike, which has
suppliers in over 40 countries. One risk that Nike
faces is that its suppliers will fail to manage their
employees in a socially responsible manner. Nike
conducts Management Audit Verifications at its
overseas plants to minimize this risk.
Nike faces the risk that unsatisfactory
environmental performance will diminish its
brand image. The company is investing
substantial resources to develop products that
minimize adverse impacts on the environment.
Nike faces the risk that customers will
not like its new products. The company uses
focus group research to proactively assess the
customers’ reaction to its new products.
1-10 Airlines face the risk that large spikes in
fuel prices will lower their profitability.
Therefore, they may reduce this risk by
spending money on hedging contracts that
enable them to lock-in future fuel prices that will
not change even if the market price increases.
Steel manufacturers face major risks
related to employee safety, so they create and
monitor control measures related to
occupational safety compliance and
performance.
Restaurants face the risk that an
economic downturn will reduce customer traffic
and lower sales. They reduce this risk by
choosing to create menus during economic
downturns that offer more low-priced entrees.
1-11 Barnes & Noble could segment its
companywide performance by individual store,
by sales channel (i.e., bricks-and-mortar versus
on-line), and by product line (e.g. non-fiction
books, fiction books, music CDs, toys, etc.).
Procter & Gamble could segment its
performance by product category (e.g., beauty
and grooming, household care, and health and
well-being), product line (e.g., Crest, Tide, and
Bounty), and stock keeping units (e.g., Crest
Cavity Protection toothpaste, Crest Extra
Whitening toothpaste, and Crest Sensitivity
toothpaste).
1-12 Timberland publishes quarterly
corporate social responsibility (CSR) metrics (see
www.earthkeeper.com/CSR/csrdownloads. Three
of those metrics include metric tons of carbon
emissions, the percentage of total cotton
sourced that is organic, and renewable energy
use as a percent of total energy usage.
Timberland’s corporate slogan of “doing
well by doing good” suggests that the company
publishes CSR reports because it believes that
its financial success (i.e., doing well) is positively
influenced by its social and environmental
performance (i.e., doing good).
1-13 Companies that use lean production
only make units in response to customer orders.
They produce units just in time to satisfy
customer demand, which results in minimal
inventories.
1-14 Organizations are managed by people
that have their own personal interests,
insecurities, beliefs, and data-supported
conclusions that ensure unanimous support for a
given course of action is the exception rather
than the rule. Therefore, managers must
possess strong leadership skills if they wish to
channel their co-workers’ efforts towards
achieving organizational goals.
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5. 3
1-15 Ethical behavior is the lubricant that
keeps the economy running. Without that
lubricant, the economy would operate much less
efficiently—less would be available to
consumers, quality would be lower, and prices
would be higher.
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6. Managerial Accounting, 15th Edition
Exercise 1-1 (30 minutes)
1. Having the boss unilaterally impose a sales budget on the sales
manager is a bad idea for three reasons. First, the boss may not have
access to information possessed by the sales manager that would result
in a more accurate forecast. Second, the sales manager is unlikely to be
committed to achieving a budget that she did not help create. Third, if
the sales manager fails to achieve actual results that meet or exceed the
budget, it would be easy for the sales manager to justify this outcome
on the grounds that she had no input in creating the budget.
2. The company would probably not be comfortable with having the sales
manager create the budget with no input from her boss. First, the boss
is likely to possess a broad understanding of strategic issues that should
be incorporated into the budgeting process. Second, the sales manager
may be inclined to purposely underestimate future sales to increase her
chances of producing actual results that exceed the budget. If she can
produce actual results that exceed the budget it is likely to increase her
pay raise and bonus as well as her chances for promotion.
3. If the company used the sales budget for the sole purpose of planning
to deploy resources in a manner that best serves customers, then it is
possible that the boss and the sales manager would both be focused on
producing the most accurate forecast possible. They would strive for
accuracy because if they overestimate sales it is likely to result in
bloated inventories and if they underestimate sales it is likely to result in
lost sales.
4. If the company used the sales budget for the sole purpose of motivating
employees to strive for excellent results, then the boss may be inclined
to challenge the sales manager by establishing a budget that
intentionally exceeds expected sales. If the sales budget has absolutely
no impact on the sales manager’s pay raises, promotions or bonuses,
then she may be inclined to embrace the challenge of “aiming high”
when establishing the sales forecast.
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7. 5
Exercise 1-1 (30 minutes)
5. If the company used the sales budget for the sole purpose of
determining pay raises, promotions, and bonuses, then the sales
manager will be inclined to understate the sales budget to maximize her
pay raise, bonus, and chance of promotion. The boss would expect the
sales manager to understate the sale budget, so he would seek to
increase the budget above the sales manager’s proposed forecast.
6. When a budget is used to deploy resources, to motivate employees
through the use of stretch goals, and to evaluate and reward
employees, it creates inevitable conflicts. As a resource deployment tool,
the budget should be as accurate as possible. As a motivational tool, the
budget should intentionally seek to stretch employees to perform to
their full potential. When budgets are used to evaluate and reward
employees, the employees will have a strong inclination to establish
easily attainable goals to maximize their chances for large pay raises
and bonuses as well as their chance for promotion.
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8. Managerial Accounting, 15th Edition
Exercise 1-2 (10 minutes)
The student would feel unfairly criticized for unloading 150 pieces of
luggage in 13 minutes. The student would perceive that, according to the
boss’s expectations, he should be able to unload 10 pieces of luggage per
minute. Therefore, if an airplane contains 150 pieces of luggage, he should
be allowed 15 minutes to unload the airplane’s luggage. By unloading 150
pieces of luggage in 13 minutes, the student would rightly claim that he
beat the boss’s expectation by two minutes.
When companies design control systems, they compare actual performance
to some pre-existing expectation. The pre-existing benchmark needs to
make sense so that is can result in meaningful managerial insights and fair-
minded assessments of employee performance. This is the fundamental
underlying principle of flexible budgets, which will be explained in a
subsequent chapter.
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9. 7
Exercise 1-3 (30 minutes)
Examples of Decisions Application in a University Setting
What should we be selling?
What products and services should
be the focus of our marketing
efforts?
How should we allocate our
marketing resources, among our
undergraduate programs, our
graduate programs, our research
accomplishments, and our athletic
programs?
What new products and services
should we offer?
Should we introduce a new major
for undergraduate students?
What prices should we charge for
our products and services?
What prices should we establish for
our travel abroad programs?
What products and services should
we discontinue?
Should we discontinue our MBA
program?
Who should we be serving?
Who should be the focus of our
marketing efforts?
How much of our marketing budget
should we channel towards
attracting undergraduate students
versus graduate students?
Who should we start serving? Should we introduce on-line
programs that enable us to serve
customers across the globe?
Who should pay price premiums or
receive price discounts?
How much should we charge for
out-of-state tuition?
Who should we stop serving? Which one of our branch campuses
should we close?
How should we execute?
How should we supply our parts and
services?
What portion of our faculty should
be adjunct faculty?
How should we expand our
capacity?
Should we increase our average
class size to accommodate more
students?
How should we reduce our capacity? Should we cut costs by eliminating
administrative jobs or faculty jobs?
How should we improve our
efficiency and effectiveness?
Should we increase our research
expectations for our faculty?
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10. Managerial Accounting, 15th Edition
Exercise 1-4 (20 minutes)
1. Failure to report the obsolete nature of the inventory would violate the
IMA’s Statement of Ethical Professional Practice as follows:
Competence
• Perform duties in accordance with relevant technical standards.
Generally accepted accounting principles (GAAP) require the write-
down of obsolete inventory.
• Prepare decision support information that is accurate.
Integrity
• Mitigate actual conflicts of interest and avoid apparent conflicts of
interest.
• Refrain from engaging in any conduct that would prejudice carrying
out duties ethically.
• Abstain from activities that would discredit the profession.
Credibility
• Communicate information fairly and objectively.
• Disclose all relevant information.
• Hiding the obsolete inventory impairs the objectivity and relevance of
financial statements.
Members of the management team, of which Perlman is a part, are
responsible for both operations and recording the results of operations.
Because the team will benefit from a bonus, increasing earnings by
ignoring the obsolete inventory is clearly a conflict of interest.
Furthermore, such behavior is a discredit to the profession.
(Unofficial CMA solution)
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11. 9
Exercise 1-4 (continued)
2. As discussed above, the ethical course of action would be for Perlman to
insist on writing down the obsolete inventory. This would not, however,
be an easy thing to do. Apart from adversely affecting her own
compensation, the ethical action may anger her colleagues and make
her very unpopular. Taking the ethical action would require considerable
courage and self-assurance.
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12. Managerial Accounting, 15th Edition
Exercise 1-5 (60 minutes)
Company Strategy
1. Deere Product leadership: “Nothing runs like a
Deere”
2. FedEx Operational excellence: “When it absolutely,
positively has to be there overnight”
3. State Farm Insurance Customer intimacy: “Like a good neighbor,
State Farm is there”
4. BMW Product leadership: “The Ultimate Driving
Machine”
5. Amazon.com Operational excellence: Huge selection of
products that are promptly delivered straight
to your door
6. Charles Schwab Customer intimacy: “Talk to Chuck”
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13. 11
Exercise 1-6 (15 minutes)
Industry Type of Risk Control
Airlines An airplane might
crash.
Implement a preventive
maintenance program.
Pharmaceutical drugs A customer might be
harmed by a drug.
Design tamper-proof
packaging.
Package delivery A package may get lost. Implement an
electronic package
tracking system.
Banking Customer credit card
numbers may be
stolen.
Implement computer
system firewalls to foil
computer hackers.
Oil & gas An oil spill may damage
the environment.
Create contingency
response plans in the
event of an oil spill.
E-commerce The company’s website
might crash.
Develop a backup
system that can be
easily activated.
Automotive Customers may not like
the appearance of a
new car model.
Use focus groups to
assess reactions to new
model prototypes.
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14. Managerial Accounting, 15th Edition
Exercise 1-7 (20 minutes)
1. If all automotive service shops routinely tried to sell parts and services
to customers that they didn’t really need, most customers would
eventually figure this out. They would then be reluctant to accept the
word of the service representative that a particular problem needs to be
corrected—even when a real problem exists. Either the work would not
be done, customers would learn to diagnose and repair problems
themselves, or customers would hire an independent expert to verify
that the work is really needed. All three of these alternatives impose
costs and hassles on customers.
2. As argued above, if customers could not trust their service
representatives, they would be reluctant to follow the service
representative’s advice. They would be inclined not to authorize work
even when it is really necessary. And, more customers would learn to do
automotive repairs and maintenance themselves. Moreover, customers
would be unwilling to pay as much for work that is done because
customers would have reason to believe that the work may be
unnecessary. These two effects would reduce demand for automotive
repair services. The reduced demand would reduce employment in the
industry and would lead to lower overall profits.
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15. 13
Exercise 1-8 (10 minutes)
The type of cognitive bias revealed by this data is called self-enhancement
bias. This bias occurs when people overstate their strengths and
understate their weaknesses relative to others. This bias may cause
managers to be overly-optimistic when making plans for the future. This
bias might also cause managers to readily blame others if control data
indicates unsatisfactory performance. It can also lead managers to make
poor decisions because they believe their managerial prowess can
overcome any potential obstacles revealed by an objective data analysis.
Managers can help reduce the potential adverse consequences of self-
enhancement bias by establishing a “devil’s advocate” team of managers
that are charged with challenging proposed courses of action.
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16. Managerial Accounting, 15th Edition
Exercise 1-9 (20 minutes)
The purpose of this exercise is to present students with an opportunity to
debate the ethicality of competing courses of action. Some students may
argue that the ethical choice is to tell the truth when speaking with the
professor from Oregon Coastal University. Other students may argue that it
is okay to be untruthful with the professor from Oregon Coastal University
because it serves a “greater good” from the standpoint of future Mountain
State University students that will be able to avoid Dr. Candler.
The power of rationalization is a very important topic when discussing
ethics and decision making. When students are asked a generic question
about the ethicality of breaking the law or lying, they quickly condemn
these actions as unethical. However, when given specific contexts, such as
the one presented in this problem, many students will rationalize unlawful
or dishonest conduct.
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17. 15
Exercise 1-10 (20 minutes)
The purpose of this exercise is to create a platform for students to debate
the merits of the shareholder-focused and stakeholder-focused
philosophies of business management. Student responses are likely to fall
in three categories. First, those students who believe that the purpose of a
company is shareholder wealth maximization will tend to agree with the
quote. Second, those students who believe that companies should serve
the needs of a broadly defined group of stakeholders may disagree with
the quote. Third, some students may argue that the shareholder-focused
and stakeholder-focused philosophies of business management are not
mutually exclusive. In other words, these students may assert that
effectively or ineffectively serving the needs of various stakeholders can
have a major impact on a company’s financial performance. To support this
point-of-view, direct students to the In Business box within Chapter 1 titled
“Greenpeace Leverages the Power of Social Media.”
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18. Managerial Accounting, 15th Edition
Exercise 1-11 (20 minutes)
1. This question gives students a platform for discussing the merits of
extrinsic motivators in organizations. Student responses should differ
regarding the effectiveness of extrinsic rewards in creating an enduring
commitment to a set of values or a course of action, thereby enabling
a lively debate.
2. This question gives students an opportunity to discuss the roles of
intrinsic motivation and extrinsic motivation in organizational
management.
3. This question gives students an opportunity to discuss the
implementation of compensation systems within organizations. To
enrich this discussion, professors can ask students questions such as:
(1) Would your incentives be tied to individual performance or team-
based performance? (2) Would your incentives be tied to easily
attainable goals or stretch targets? and (3) How would you handle the
fact that financial incentive systems are often influenced by factors
that are beyond the control of those being evaluated?
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19. 17
Exercise 1-12 (20 minutes)
1. Most students are likely to recommend reinforcing the sections of the
plane that were hit most often by enemy fire. Indeed, during World War
II, American military personnel drew the same conclusion.
2. Perceptive students may realize that this is a classic case of selection
bias. Selection bias arises when decision makers rely on a sample that is
not representative of the entire population being studied. In this case,
the military was relying on a sample that included only those planes that
had returned from combat. The sample did not include planes lost in
combat.
During World War II statistician Abraham Ward recommended that the
portions of the planes hit least often should be reinforced. “Ward
reasoned that a plane would be less likely to return if it were hit in a
critical area and, conversely, that a plane that did return even when hit
had probably not been hit in a critical location.”
Note: The above quote appears on page 118 of Jerker Denrell’s article
titled “Selection Bias and the Perils of Benchmarking,” from the Harvard
Business Review, Volume 83, Issue 4, pp. 114-119.
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20. Managerial Accounting, 15th Edition
Exercise 1-13 (20 minutes)
The purpose of this exercise is to present students with an opportunity to
debate the ethicality of competing courses of action. Some students may
argue that the ethical choice is to report all gambling winnings to the
Internal Revenue Service even though it will force them to pay additional
federal income taxes. Other students may argue that it is okay to evade
the additional income tax for various reasons, such as “everybody else
does it so it is okay.”
The power of rationalization is a very important topic when discussing
ethics and decision making. When students are asked a generic question
about the ethicality of breaking the law or lying, they quickly condemn
these actions as unethical. However, when given specific contexts, such as
the one presented in this problem, many students will rationalize unlawful
or dishonest conduct.
Note to instructors: Before beginning a classroom discussion, allow
students to anonymously answer the question in writing. Summarize the
results of the written responses and ask students to comment on them.
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21. 19
Appendix 1A
Corporate Governance
Solutions to Questions
1A-1 Example of control activities include (1)
watching high school athletes play prior to
recruiting them, (2) scouting opponents prior to
playing them, (3) monitoring each student-
athlete’s classroom and study hall attendance,
(4) conducting flexibility and weight training for
the players, and (5) conducting practices in the
pre-season and in between games.
1A-2 Examples of control activities include (1)
attending interviewing skills workshops, (2)
attending resume writing workshops, (3)
gathering background information about
possible employers prior to interviewing with
them, (4) developing effective study habits for
each class, and (5) participating in extra-
curricular activities that build skills important to
employers.
1A-3 Examples of control activities include (1)
installing fire, radon, and carbon monoxide
detectors, (2) paying for annual home heating
system inspections, (3) installing locks on doors,
(4) storing all potentially harmful products in
safe locations away from children, (5) reducing
the maximum allowable hot water temperature,
(6) installing a home security system, and (7)
installing plastic covers over electrical outlets.
1A-4 Examples of controls include using
security cameras, having undercover security
guards on the premises, using mirrors to
eliminate blind-spots in corners of the store,
creating store layouts that require customers to
pass the registers in order to exit, having
employees monitor restrooms and dressing
rooms, using security tags on merchandise,
requiring cashiers to inspect items such as shoe
boxes to ensure that they do not contain hidden
merchandise, and placing small expensive items
in locked cabinets.
1A-5 Examples of internal controls include
maintaining a locked cash register, limiting
register access to one employee at a time,
periodically reconciling the cash in the drawer
with the register’s sales records, separating the
duties of checking out customers, counting the
cash in the drawer and reconciling it with the
register’s sales report, and depositing the cash
in the bank.
1A-6 You should review a properly authorized
purchase order to verify that the goods were
actually ordered by the company for legitimate
purposes. You should review the original price
quotes from the seller to ensure that they agree
with prices contained in the sales invoice. You
should also review a receiving report to verify
that the goods were received in the proper
quantities and in satisfactory condition.
1A-7 Examples of control activities include
verifying the credit rating of customers before
selling to them on credit, separating the duties
of those responsible for generating sales leads
and those responsible for the credit approval
process, defining credit limits for each customer,
and preparing an aging of accounts receivable to
monitor subsequent cash collections.
1A-8 Companies usually count their
inventories once a year, towards the end of their
fiscal year. The purpose of this control activity is
to reconcile the inventory on-hand with the
company’s accounting records. If a difference
exists between the physical inventory and the
accounting records, then an adjustment is
required to align the accounting records with the
physical count.
1A-9 Using pre-numbered documents reduces
the likelihood of unauthorized transactions. It
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22. Managerial Accounting, 15th Edition
also makes it easy to ensure that all documents
are recorded and to quickly identify a missing
document.
1A-10 Budgets: (1) define goals and objectives
that can serve as benchmarks for evaluating
subsequent performance, (2) coordinate
activities across the organization, (3)
communicate management’s plans throughout
the organization, (4) force managers to plan for
the future, and (5) allocate resources to those
parts of the organization where they can be
used most effectively.
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