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Solution Manual for Managerial Accounting 11th CANADIAN Edition by Garrison


Edition: 11th Edition

Format: Downloadable ZIP Fille

Resource Type: Solution manual

Duration: Unlimited downloads

Delivery: Instant Download

Solution Manual for Managerial Accounting 11th CANADIAN Edition by Garrison

Chapter 1

Managerial Accounting

and the Business Environment

Learning Objectives


  • Describe the functions performed by managers.
  • Identify the major differences and similarities between financial and managerial accounting.
  • Explain the basic concepts of lean production and enterprise risk management.
  • Explain the nature and importance of ethics for accountants and the role of corporate social responsibility.
  • Explain how intrinsic motivation, extrinsic incentives, and cognitive biases affect employee behaviour.


Chapter Overview


This chapter serves four main purposes:


  • It explains the nature of managerial accounting in providing internal accounting information to support the work of management—planning, directing and motivating, and controlling.
  • It describes the nature of organizations and the role of management accountants in an organization.
  • It explains how companies are responding to a changing business environment by improving business process with the following four approaches:
    • Lean Production
    • Enterprise Risk Management
  • It discusses the importance of upholding ethical standards.



Service-Related Examples


Company                                                                                                       Type of Business                           Text Reference

Certified Professional Accountants     Accounting                                    Introduction

Canadian Pacific                               Railway                                   In Business

CIBC                                                 Bank                                             Ethics/Discussion Case



Assignment Topic Grid

Chapter 1


ProblemTopicLO1: Functions of managersLO2: Financial vs. managerial accounting  LO3: Lean production and enterprise risk


  LO4: Nature and importance of ethics for


LO5: Intrinsic motivation, extrinsic incentives, and cognitive biasesService industryWriting componentCPA adapted
E1-1Functions Performed by Managersü?
E1-2Financial and Managerial Accountingü?
E1-3Enterprise Risk Managementü?
P1-4Cognitive Biasesü?
P1-5Planning and Control ActivitiesüJ?
P1-6Ethics in Businessü?
P1-7Corporate Social Responsibilityü?
P1-8Intrinsic Motivation and Extrinsic Incentivesü?
P1-9Value Chain Analysisü