School: Kent State University
Course: Introduction to Managerial Accounting
Professor: John rose
Term: Fall 2016
Tags: Managerial, Accounting, notes, service, Company, Companies, merchandiser, manufacturer, value, Chain, direc, indirect, costs, inventoriable, Product, period, overhead, manufacturing, prime, conversion, Labor, Income, statement, balance, sheet, cost, Of, goods, sold, Operating, Expenses, Gross, profit, Inventory, materials, work, In, process, finished, and good
Name: Chapter 2 - Building Blocks of Managerial Accounting
Description: Distinguishes the three types of companies that exist. Discusses the value chain and its purpose. Describes direct and indirect costs. Differentiates inventoriable product costs and period costs. Differentiates prime and conversion costs. Describes the difference between direct and indirect labor costs. Demonstrates how to compose financial statements for each type of business.