Solution Manual for Managerial Accounting: Creating Value in a Dynamic Business Environment, 12th Edition

Strengthen your understanding of key topics with Solution Manual for Managerial Accounting: Creating Value in a Dynamic Business Environment, 12th Edition, a detailed textbook guide.

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Managerial Accounting, 12/e1-1CHAPTER 1The CrucialRole of Managerial Accounting in aDynamic Business EnvironmentFOCUS 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 ethicalprinciples andstandards to lead a class discussion.The discussion can also range to consideration of how these standardsmay have beenviolated by accountantsand managersinvolved in the variousethicalscandals uncoveredover the past several years. It is also useful to discuss thepros and cons of theproceduresthatIMA suggests for its memberswhen they believe they know about ethical lapses in theirorganizations.ANSWERS TO REVIEW QUESTIONS1-1The explosion in e-commerce will affect managersin significant ways. One effect willbe a drastic reduction in paper work. Millions of transactions between businessesarenow beingconducted electronically with no hard-copy documentation.Along withthis method of communicating for business transactions comes the very significantissue of information security. Businesses need to find ways to protect confidentialinformation in their own computers, in cloud computing data centers, and whilemoving across the internet, while at the same time sharing the information necessaryto complete transactions. Another effect of e-commerce is the dramatically increasedspeed with which business transactions can be conducted. In addition, there will bedramatic changes in the way managerial accounting procedures arecarried out, oneexample being cloud-basedbudgeting, which is the enterprise-wide and electroniccompletion of a company’s budgeting processusing cloud-based software and datastorage.

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Managerial Accounting: Creating Val...

Solution Manual for Managerial Accounting: Creating Value in a Dynamic Business Environment, 12th Edition

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