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Learning Objectives
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After studying Chapter 1, you should be able to:

LO1

Identify the major differences and similarities between financial and managerial accounting.

LO2

Understand the role of management accountants in an organization.

LO3

Understand the basic concepts underlying Just-In-Time (JIT), Total Quality Management (TQM), Process Reengineering, and the Theory of Constraints (TOC).

LO4

Understand the importance of upholding ethical standards.






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