Solution manual for managerial accounting 14th canadian edition by garrison
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MANAGERIAL ACCOUNTING 14th Edition
by GARRISON NOREEN BREWER
CHAPTER 1
Internet Exercise #1
As you know, financial accounting differs in many ways from managerial accounting.
The website of the Institute of Management Accountants (IMA) at />provides an overview of the Certified Management Accountant (CMA) designation. (See the
CMA Certification link on the home page.)
The website of the American Institute of Public Accountants (AICPA) at
provides an overview of the Certified Public Accountant (CPA)
designation. (Access the overview at
/>Review the information provided on these two websites. Then, write a brief paper (3 - 5
paragraphs) that:
Compares and contrasts these two professional designations (that is, the CMA and CPA).
Identifies the professional designation(s) (that is, the CMA, CPA, or both) that involves
obtaining a license from the state in which the accountant practices.
Lists and briefly describes other certifications discussed on the AICPA and IMA sites.
Solution
Both the CPA and CMA entail education, professional experience, and examination
requirements. However, the CPA is related specifically to the independent practice of public
accounting, while the CMA is focused on the accountant working for a company in the
managerial accounting area.
The CPA must obtain the certification as well as a license to practice from the state in which
the CPA wants to pursue independent public accounting practice. The CMA does not involve
state licensure.
The AICPA offers other certifications, including a newly developed global certification, and
several specialized programs.
The IMA also offers the CFM, which stands for Certified Financial Manager.
Internet Exercise #2
The website of the Institute of Management Accountants (IMA) at />includes information about scholarships and awards for students. Search the site (see search box
at the top-left) and locate the information about the scholarships and awards that are sponsored
by the IMA. Briefly describe the various scholarships that are sponsored.
Solution
The IMA website includes the following information about scholarships and awards for students
as follows:
Scholarships
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o IMA student members may be eligible for a scholarship for student members to attend the
IMA Annual Conference & Exposition.
o IMA sponsors a variety of scholarships to help offset the high cost of education: IMA
Memorial Education Fund Scholarships, Stuart Cameron and Margaret McLeod
Memorial Scholarship, and Rolf S. Jaehnigen Family Scholarship.
o IMA’s Foundation for Applied Research offers a research grant program for doctoral
students who are pursuing research in the area of management accounting.
Awards ( />o Each year, the students and their chapters vie for various awards including the National
Student Case Competition, Awards of Excellence, Outstanding Student Chapter, Student
Manuscript Award, and the Clark Johnson Achievement Award.
Internet Exercise #3
Perform an Internet search using the term, lean production, or the term, lean thinking, and locate
an article (less than one year old) from the results of your search. (Make sure that you do not
select an instructor’s lecture notes or a class assignment from the results of your search.) After
reading the article, write a brief paper (3 – 5 paragraphs) that summarizes and comments on the
article. (Your paper should provide the appropriate citation(s). If necessary, you may wish to
refer to the following website, which includes information about citations:
/>
Solution
The article chosen by the student will determine the appropriate answer to this assignment. The
instructor should grade the papers based on the student’s fulfillment of the requirements, with
particular attention to their summary and/or critique of the article, the student’s proper citation of
the article chosen, and compliance with the general length guideline provided (that is, 3 – 5
paragraphs).
Internet Exercise #4
Perform an Internet search using the term, Theory of Constraints, and locate an article (less than
one year old) from the results of your search. (Make sure that you do not select an instructor’s
lecture notes or a class assignment from the results of your search.) After reading the article,
write a brief paper (3 – 5 paragraphs) that summarizes and comments on the article. (Your paper
should provide the appropriate citation(s). If necessary, you may wish to refer to the following
website, which includes information about citations:
/>
Solution
The article chosen by the student will determine the appropriate answer to this assignment. The
instructor should grade the papers based on the student’s fulfillment of the requirements, with
particular attention to their summary and/or critique of the article, the student’s proper citation of
the article chosen, and compliance with the general length guideline provided (that is, 3 – 5
paragraphs).
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