What is managerial accounting? Comparison between managerial accounting and financial accounting Cost classifications in different ways Flow of manufacturing activities Job order cost accounting systems and process cost accounting systems
Outline Flow of inventory cost Items and costs of merchandising inventory Assigning costs to inventory Lower of cost or market Errors in measuring inventory Inventory estimating method
Outline Describe the preparation of adjusted trial balance Describe and prepare a worksheet and describe its usefulness. Describe the closing process and explain why temporary accounts are closed each period. Prepare closing entries