1. Managerial Accounting: Define and discuss in detail managerial accounting. What is its purpose? How is it used? What are the primary responsibilities of a management accountant? Discuss some of the differences between Financial accounting and managerial accounting. Summarize the ethical standards of management accountants.
2. Job Order Costing: Define job order costing. Compare and contrast job order costing with process costing. Trace the flow of costs through a job order costing system. Discuss manufacturing overhead and how it is applied. Why is the manufacturing overhead account adjusted at the end of the period?