Principles of Accounting, Chapter 17: Introduction to Managerial Accounting:

Please review this chapter’s “Objectives” and “Key Terms” before and after reading. After you complete the reading, be sure to take this chapter’s “Fill in the Blanks” and “Multiple Choice” Self-Quizzes.

Chapter 17 discusses how management accounting is different from accounting that presents financial statements to outsiders. The chapter then provides an overview of the types of business management activities business leaders perform. It also describes the tools (like budgets) and other concepts that management accounting uses to help business leaders perform their management duties.

Learning Journal

The Learning Journal is a space where you should reflect upon what was learned during the week, how it applies to your daily life, and how it will help you with your life/career goals.

For this week’s reflection, please write three complete and well-composed paragraphs (in your own words) in which you use, as an example, a company that operates where you live. Describe what business it is in and some of the costs the company incurs. Define the various types of costs you identified as period or product costs.