1. Identify the role and scope of financial and managerial accounting and the use of accounting information in the decision making process of managers.

2. Define operational and capital budgeting, and explain its role in planning, control, and decision making.

3. Prepare an operating budget, identify its major components, and explain the interrelationships among its various components.

4. Explain methods of business performance evaluation.

5. Use appropriate financial information to make operational decisions.

6. Employ accounting data in the areas of product costing, cost behavior, cost control, and operational and capital budgeting for management decisions