After you have mastered the material in this chapter, you will be able to:
LO 1-1 | Distinguish between managerial and financial accounting. |
LO 1-2 | Identify the cost of manufacturing a product and show how these costs affect financial statements. |
LO 1-3 | Show how just-in-time inventory can increase profitability. |
LO 1-4 | Identify the key components of corporate governance. |
LO 1-5 | Identify emerging trends in accounting (Appendix A). |