| 1–1. | According to some estimates, the volume of electronic commerce transactions exceeds $3 trillion. Business-to-business transactions account for almost half of this amount. What changes do you believe are in store for managerial accounting as a result of the explosion in e-commerce? |
| 1–2. | List two plausible goals for each of these organizations: Amazon.com, American Red Cross, General Motors, Wal-Mart, the City of Seattle, and Hertz. |
| 1–3. | List and define the four basic management activities. |
| 1–4. | Give examples of each of the four primary management activities in the context of a national fast-food chain such as Burger King. |
| 1–5. | Give examples of how each of the objectives of managerial accounting activity would be important in an airline company such as Southwest Airlines. |
| 1–6. | List and describe four important differences between managerial and financial accounting. |
| 1–7. | Distinguish between cost accounting and managerial accounting. |
| 1–8. | Distinguish between line and staff positions. Give two examples of each in a university setting. |
| 1–9. | Distinguish between the following two accounting positions: controller and treasurer. |
| 1–10. | How could your college or university use the concepts in the balanced scorecard? List two possible performance measures that would be relevant to a college or university, for each of the balanced scorecard’s four areas. |
| 1–11. | What does the following statement by a managerial accountant at Caterpillar imply about where in the organization the managerial accountants are located? “[We] are a partner with all of the other functions in the business here.” (Reference 1a at end of text.) |
| 1–12. | What is meant by the following statement? “Managerial accounting often serves an attention-directing role.” |
| 1–13. | What is the chief difference between manufacturing and service industry firms? |
| 1–14. | Define the following terms: just-in-time, computer-integrated manufacturing, cost management system, empowerment, and total quality management. |
| 1–15. | Explain the difference between e-business and e-commerce. |
| 1–16. | Define and explain the significance of the term CMA. |
| 1–17. | Briefly explain what is meant by each of the following ethical standards for managerial accountants: competence, confidentiality, integrity, and credibility. |
| 1–18. | What is meant by the term non-value-added costs? |
| 1–19. | Managerial accounting is an important part of any enterprise’s management information system. Name two other information systems that supply information to management. |
| 1–20. | Can managerial accounting play an important role in a nonprofit organization? Explain your answer. |
| 1–21. | A large manufacturer of electronic machinery stated the following as one of its goals: “The company should become the low-cost producer in its industry.” How can managerial accounting help the company achieve this goal? |
| 1–22. | What do you think it means to be a professional? In your view, are managerial accountants professionals? |
| 1–23. | Name several activities in the value chain of (a) a manufacturer of cotton shirts and (b) an airline. |
| 1–24. | Define the term strategic cost management. |
