亨格瑞管理会计英文第15版练习答案01

1-B2 (10-15 min.)

1 & 2. Budget Actual Variance Sales $75,000 $74,600 $ 400U Costs: Fireworks $36,000 $35,500 $500F Labor 15,000 18,000 3,000U Other 8,000 7,910 90F Total cost 59,000 61,410 2,410U Profit $16,000 $13,190 $2,810U 3. The cost of fireworks was $500 ÷ $36,000 = 1.4% under budget while sales was

just 400 ÷ $75,000 = .5% under budget. Did fireworks suppliers lower their prices? Were selling prices set higher than expected? There should be some explanation for the lower cost of fireworks. The labor cost was $3,000 ÷ $15,000 =20% over budget. Sales and other costs

were close to budget in percentage terms. Why was labor cost much higher than expected?

1-B3 (15 - 20 min.) 1. A code of conduct is a document specifying the ethical standards of an

organization. 2. Different companies include different elements in their codes of conduct. Some of

the items included in companies’ codes of conduct include maintaining a dress code, avoiding illegal drugs, following instructions of superiors, being reliable and prompt, maintaining confidentiality, not accepting personal gifts from

stakeholders as a result of company role, avoiding racial or sexual discrimination, avoiding conflict of interest, complying with laws and regulations, not using organization’s property for personal use, and reporting illegal or questionable activity. Some companies have a simple code with little detail, and others have long lists of rules and regulations regarding appropriate conduct. The key is that the code of conduct must fit with the corporate culture. 3. Simply having a code of conduct does not guarantee ethical behavior by

employees. Most important is top management’s ethical example and its support of the code of conduct. A company’s performance evaluation and reward system must be consistent with its code of conduct. If unethical actions are rewarded, they will be encouraged even if they violate the code of conduct.

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1-1 a. b.

Internal managers and external parties use accounting information:

Internal reporting is used by managers for planning and controlling operations, special decision-making, and long-range planning.

External reporting is used by stockholders, investors, taxing authorities, government regulators, and other interested parties.

1-2 The emphasis of financial accounting has traditionally been on the historical data presented in the external reports. Management accounting is more future-oriented and emphasizes planning, control, and decision-making.

1-3 The branch of accounting described in the quotation is management accounting.

1-4 Scorekeeping is the recording (including accumulation and classification) of data for a later evaluation of performance. Attention directing is the reporting and

interpretation of information for the purpose of focusing on inefficiencies of operation, opportunities for improvement, and imperfections and operating problems. Problem solving is analysis of alternative courses of action to evaluate the best course of action.

1-5 No. GAAP applies to financial reporting for external users. Internal accounting reports are not restricted by GAAP.

1-6 Yes, though the act covers more than foreign bribes. The Foreign Corrupt Practices Act applies to all publicly-held companies and covers the quality of internal accounting control and other matters as well as bribes.

1-7 Many managers believe that the costs of applying the provisions of the Sarbanes-Oxley act are greater then the benefits. This is especially true about the mandated auditing of companies’ internal control systems.

1-8 Users cannot easily observe the quality of accounting information. Thus, they rely on the integrity of accountants to be sure the information is accurate. If accountants do not have a reputation for integrity, the information they produce will not have value to users.

1-9 No. The ethics developed as a student carry over into one’s professional life. Integrity is important at all stages of development. Students who use unethical means to achieve success are likely to try similar methods when in business.

1-10 Public accounting firms, law firms, management consultants, real estate firms, transportation companies, banks, insurance companies, and hotels are examples of service organizations. Service organizations tend to be labor intensive, have outputs that are difficult to define and measure, and have both inputs and outputs that are difficult or impossible to store.

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1-11 Two considerations are cost-benefit balance and behavioral effects. Cost-benefit balance refers to how well an accounting system helps achieve management's goals in relation to the cost of the system. The behavioral-effects consideration specifies that an accounting system should be judged by how it will affect the behavior (that is, decisions) of managers.

1-12 Yes. Measurement and recording is an integral part of management. For example, cash receipts and disbursements must be traced, and receivables and payables must be recorded in order to manage operating activities such as sales and purchases.

1-13 A budget is a quantitative expression of a plan of action; a performance report compares actual results with the budget; and a variance measures the differences between budget and actual.

1-14 No. Management by exception means that management directs more attention to those areas that seem to be out of control and less to areas that are functioning as planned. This method is an efficient way for managers to decide where to put their time and effort.

1-15 Information that is relevant for decisions about a product depends on the product's life-cycle stage. Therefore, to prepare and interpret information, accountants should be aware of the current stage of a product's life cycle.

1-16 The six functions are: (1) research and development – generation and

experimentation with new ideas for products, services, or processes; (2) product, service, and process design – detailed design and engineering of products, services, or processes; (3) production – use of resources to produce a product or service; (4) marketing -

informing customers of the value and features of products or services; (5) distribution – delivering products or services to customers; and (6) customer service – support provided to customers after a sale.

1-17 No. Some functions in the value chain may not be present in some organizations and not all of the functions are of equal importance to the success of all organizations. Measurement and reporting should focus on those functions that enable a company to gain and maintain a competitive edge.

1-18 Line managers are directly responsible for the production and sale of goods or services. Staff managers have an advisory function – they support line managers.

1-19 Management accountants are the information specialists. In non-hierarchical companies, they are more directly involved with managers and are often parts of cross-functional teams.

1- 20 A treasurer is concerned mainly with the company's financial matters, the controller with operating matters. In large organizations, there are sufficient activities

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associated with both financial and operating matters to justify two separate positions. In a small organization the same person might be both treasurer and controller.

1-21 Starting in 2010, the two parts of the CMA examination are: (1) financial planning, performance, and control, and (2) financial decision making.

1-22 This is not true. About one-third of CEOs in companies with revenues greater than $500 million come from finance or accounting backgrounds. Accounting is excellent preparation for top management positions because accountants are often exposed to many parts of the company early in their careers.

1-23 Changes in technology are affecting how accountants operate. Increasing

computing capabilities and decreasing computing costs have changed how accountants gather, store, manipulate, and report data. Today accountants must be able to account for transactions efficiently and safely, integrate their accounting systems into ERP systems, and use XBRL to communicate information electronically.

1-24 The essence of the just-in-time philosophy is the elimination of waste,

accomplished by reducing the time products spend in the production process and trying to eliminate the time spent in activities that do not add value to the product.

1-25 Moving tools and products that are in process from one location to another in a plant is an activity that does not add value to the product. So changing the plant layout to eliminate wasted movement and time improves production efficiency.

1-26 The four major responsibilities are: (1) competence - develop knowledge; know and obey laws, regulations, and technical standards; and perform appropriate analyses, (2) confidentiality - refrain from disclosing or using confidential information, (3) integrity - avoid conflicts of interest, refuse gifts that might influence actions, recognize limitations, and avoid activities that might discredit the profession, and (4) credibility - communicate information fairly, objectively, and completely, within confidentiality constraints.

1-27 Standards do not always provide the needed guidance. Sometimes an action borders on being unethical, but it is not clearly a violation of an ethical standard. Other times two ethical standards conflict. In situations such as these, accountants must make ethical judgments.

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