1. Analyze and understand the components of Stockholders' Equity of the Balance Sheet, including differences between common stock and preferred stock, and the computation of book value.
2. Explain the difference between financial and managerial accounting.
3. Define and give examples of cost terms used in planning, control and decision-making and distinguish between manufacturing and nonmanufacturing costs.
4. Perform cost-volume-profit analysis.
5. Understand the budgeting process and prepare a budget.
6. Analyze financial statements using horizontal, common-size and ratio analysis.
7. VALUES OUTCOME Discuss and explain the relevance of responsible stewardship and integrity as it relates to accounting.