Solution Manual For Cost Accounting With Integrated Data Analytics, 1st Edition by Karen Congo Farmer, Amy Fredin Chapter 1-18

 

Chapter 1

 

Cost Accounting Has Purpose

 

Note: the end of chapter brief exercises, exercises, and problems are coded K (knowledge), C (comprehension), AP (application), AN (analysis), S (synthesize), and E (evaluation) according to the original Blooms Taxonomy published in 1956.

 

 

Assignment Classification Table (By Learning Objective)

 

 

Learning Objectives

Questions

Brief Exercises

Exercises

Problems

 

1.

Explore the elements that support a company’s purpose, as well as your own.

1, 2, 3, 4

1, 2, 3, 4, 5, 6

1, 2, 3

1, 2, 3, 4

 

2.

Connect the purpose of cost accounting with the role of accountants in organizations.

5, 6, 7

7, 8, 9

4, 5, 6

5, 6

 

3.

Outline the frameworks, including ethics, that guide the profession.

8, 9, 10, 11, 12

10, 11, 12

7, 8, 9, 10

7, 8, 9

 

 

Assignment Characteristics Table

Item

 

Description

Level of Difficulty

Time
(minutes)

  E1.1

 

Get to know the mission and vision of each of the Big 4 firms and their underlying values.

Moderate

10–15

  E1.2

 

Evaluate the state of competition within an industry given a company’s SWOT analysis.

Moderate

10–15

  E1.3

 

Explain how a balanced scorecard reveals a company’s strategy.

Moderate

10–15

  E1.4

 

Get to know how cost accounting skill sets are valued as consulting services in the Big 4.

Moderate

10–15

  E1.5

 

Use the decision-making framework to make a personal decision.

Moderate

10–15

  E1.6

 

Use the decision-making framework to make a business decision.

Simple

10–15

  E1.7

 

Get to know the IMA.

Simple

5–10

  E1.8

 

Get to know the continuing education requirements for IMA’s flagship certification.

Moderate

10–15

  E1.9

 

Get to know IMA’s Statement of Ethical Professional Practice.

Moderate

15–20

  E1.10

 

Get to know the AICPA.

 

 

 

 

 

Simple

5–10

  P1.1

 

What is your own personal purpose?

Simple

5–10

  P1.2

 

What are your goals in this course?

Simple

5–10

  P1.3

 

What strategies will you use to achieve your course goals?

Simple

10–15

  P1.4

 

Conduct your own personal SWOT analysis related to your role as a student.

Moderate

10–15

  P1.5

 

Determine which data analytics approaches would be useful in addressing a business question.

Moderate

10–15

  P1.6

 

Explain the steps in the value chain.

Moderate

5–10

  P1.7

 

Get to know IMA’s Statements on Management Accounting.

Moderate

10–15

  P1.8

 

Get to know the CPE requirements for CPAs in your state.

Moderate

10–15

  P1.9

 

Get to know how NASBA supports the State Boards of Accountancy.

 

 

 

 

 

Moderate

15–20

  Case

 

Sort out the issues in an ethical dilemma using IMA’s Statement of Ethical Professional Practice alongside the decision-making framework.

Moderate

10–15

 

Solution Manual For Cost Accounting With Integrated Data Analytics, 1st Edition by Karen Congo Farmer

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