Managerial Accounting: Creating Value in a Dynamic Business Environment
11th Edition
ISBN: 9781259569562
Author: Ronald W Hilton Proffesor Prof, David Platt
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 1, Problem 1RQ
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
Expert Solution & Answer
To determine
Explain about the changes in store for managerial accounting as a result of the explosion in e-commerce.
Explanation of Solution
Managerial accounting: Managerial accounting is a system, or a process of collecting and organizing, classifying, and analyzing the financial reports, and communicating the relevant information to the managers of the company to achieve the objectives and goals of the organization.
- The explosion in e-commerce will create an impact in managerial accounting in significant ways. Drastic decrease in paper work is one of the effects. Millions of transactions conducted electronically among businesses without hard-copy documentation. Along with this method comes the significant issue of information security while communicating about business transactions.
- It is the duty of businesses to find out ways for protecting its confidential information in its own computers. But at the same time, it must share certain information that is required for completing the transactions.
- Another effect of e-commerce is that the business transactions can be conducted with dramatic speed. Furthermore, there is dramatic change in the procedures of managerial accounting in addition to these business-to-business transactional issues. For example, e-budgeting, this is the enterprise-wide and electronic completion of a company’s process of budgeting.
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Chapter 1 Solutions
Managerial Accounting: Creating Value in a Dynamic Business Environment
Ch. 1 - According to some estimates, the volume of...Ch. 1 - Prob. 2RQCh. 1 - List and define the four basic management...Ch. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - List and describe four important differences...Ch. 1 - Distinguish between cost accounting and managerial...Ch. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - How could your college or university use the...
Ch. 1 - What does the following statement by a managerial...Ch. 1 - What is meant by the following statement?...Ch. 1 - Prob. 13RQCh. 1 - Prob. 14RQCh. 1 - Prob. 15RQCh. 1 - Prob. 16RQCh. 1 - Prob. 17RQCh. 1 - What is meant by the term non-value-added costs?Ch. 1 - Managerial accounting is an important part of any...Ch. 1 - Can managerial accounting play an important role...Ch. 1 - Prob. 21RQCh. 1 - Prob. 22RQCh. 1 - Name several activities in the value chain of (a)...Ch. 1 - Define the term strategic cost management.Ch. 1 - Give an example of managerial accounting...Ch. 1 - For each of the following activities, explain...Ch. 1 - Dave Nelson recently retired at age 48, courtesy...Ch. 1 - Susan Lopez, a consultant with Deloitte Young,...Ch. 1 - Prob. 31PCh. 1 - Urban Elite Apparel designs womens apparel and...Ch. 1 - Prob. 33C
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