Managers who use a historical-cost accounting system look backward at what something cost yesterday, instead of forward

Question:

“Managers who use a historical-cost accounting system look backward at what something cost yesterday, instead of forward to what it will cost tomorrow.” Do you agree? Why?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Management Accounting

ISBN: 978-0132570848

6th Canadian edition

Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu

See More Books

Question Posted: Jul 09, 2019 08:09 AM

See More Questions

The accountant of Laburnum Ltd is preparing documents for a forthcoming meeting of the budget committee. Currently, variable cost is 40 per cent of selling price and total fixed costs are 40 000 per...
QuantumTM manufactures electronic testing and measurement instruments. Many products are custom-designed with recent orders for function generators, harmonic analyzers, logic analyzers, temperature...
Mineral Waters Ltd. operates three divisions that process and bottle sparkling mineral water. The historical-cost accounting system reports the following data for 2015: Mineral Waters estimates the...
Four of Wands, LLC generated $255,000 in sales during January 2022. Of this amount, 25% was for cash. The remaining 75% of sales were made on account. The February 2022 sales on account were...
Find the magnetic force on the electron at point c. Several electrons move at speed 8.0 Ã 105 m/s in a uniform magnetic field with magnitude B = 0.40 T directed downward. 20.0b 30.0
Firm F is a cash basis legal firm. In 2021, it performed services for a client, mailed the client a bill for $6,150, and recorded a $6,150 receivable. In 2022, Firm F discovered that the client was...
Compute the net present value of a capital expenditure using the "present value of $1" table. (Obj. 4). Peak Corporation has prepared a schedule of after-tax cash flows expected during an asset's...
Alina Sadofsky, who operates a small grocery store, has established the following policies with regard to the checkout cashiers: 1. Each cashier has his or her own cash drawer, to which no one else...
When the dividend rate on preferred stock is less than the rate of return earned on a corporations assets, it is called: A. Financial leverage. B. Discount on stock. C. Premium on stock. D....
The following information pertains to Titan Corporation and its two subsidiaries, Boat Corporation and Engine Corporation: a. The three corporations are all in the same industry and their operations...
Give four possible definitions of invested capital that can be used in measuring ROI or residual income.
Company X uses net book value as a measure of invested capital when computing ROI. A division manager has suggested that the company change to using gross book value instead. What difference in...
In what primarily imperative language do lists serve as arrays?
On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investment cost of Swiss francs (SFr) 76,000. SunTime's December 31, 20X1, trial...
In November 2 0 2 4 , Lily informed you that she needs additional cash flow to meet her personal debt obligations. Lily does not want to sell more stock than she needs to because she wants...
Bennett limited provides mobile library services to the community of longbourn. bennett has preliminary operating results for the first year and the company found that net income is different from...
What is printed when the value of x is 34? if (x < 32 ) { if (x22) { } System.out.println("Blue"); else if (x <10) { } System.out.println("Red"); else if (x > 25 ) { System.out.println("Yellow"); } }...
Heidi expresses concern in the video that when employees are also friends, holding them accountable for performance "doesn't come as naturally" to her. She asks you, "Does my focus on relationship...
In Problem use the four-step process to find f'(x) and then find f' (1), f' (2), and f' (3). f(x) = -x 2 + 5x + 1
In a system with light damping (c < cc), the period of vibration is commonly defined as the time interval d = 2/d corresponding to two successive points where the displacement-time curve touches one...
Magic Realm, Inc., has developed a new fantasy board game. The company sold 15,000 games last year at a selling price of $ 20 per game. Fixed expenses associated with the game total $ 182,000 per...
Erie Company manufactures a small mp3 player called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate mp3 player are as...
Perit Industries has $ 100,000 to invest. The company is trying to decide between two alternative uses of the funds. The alternatives are: The working capital needed for project B will be released at...
THIS IS ONE QUESTION WITH TWO PARTS. PLEASE ANSWER COMPLETELY AND SHOW ALL WORK. (NO EXCEL) Information for Question 1: State Probability Retum on A Return on B Return on C Retum on Portfolio X Boom...
Direct materials (5.0 Ibs. @ $5.00 per Ib.) Direct labor (2.0 hrs. @ $13.00 per hr.) Overhead (2.0 hrs. @ $18.50 per hr.) Total standard cost $25.00 26.00 37.00 $88.00 The predetermined overhead rate...
Problem 1-28 (Algo) (LO 1-4, 1-5, 1-6b 1-7) Harper, Inc., acquires 40 percent of the outstanding voting stock of Kinman Company on January 1, 2020, for $316,100 in cash. The book value of Kinman's...

Managers who use a historical-cost accounting system look backward at what something cost yesterday, instead of forward

Question:

Step by Step Answer:

No Using a historical cost accou...View the full answer

Management Accounting

Students also viewed these Business questions