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| Learning Objectives are classified as conceptual, analytical, or procedural.
After completing this chapter you should be able to: Conceptual C1 Explain the purpose and nature of, and the role of ethics in, managerial accounting. C2 Describe accounting concepts useful in classifying costs. C3 Define product and period costs and explain how they impact financial statements. C4 Explain how balance sheets and income statements for manufacturing and merchandising companies differ. C5 Explain manufacturing activities and the flow of manufacturing costs. C6 Describe trends in managerial accounting. Analytical A1 Compute cycle time and cycle efficiency, and explain their importance to production management Procedural P1 Compute cost of goods sold for a manufacturer. P2 Prepare a manufacturing statement and explain its purpose and links to financial statements. |