Learning Objectives are classified as conceptual, analytical, or procedural.
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 Assess raw materials inventory management using raw materials inventory turnover and days' sales in raw materials inventory.
Procedural
P1 Compute cost of goods sold for a manufacturer.
P2 Prepare a manufacturing statement and explain its purpose and links to financial statements.