Importance of Accounting
Explain the purpose and importance of accounting.
Identify users and uses of accounting.
Explain why ethics are crucial to accounting.
Explain generally accepted accounting principles and
define and apply several accounting principles.
Identify and describe the three major activities of organizations
Define and interpret the accounting equation and each of its components.
Compute and interpret return on assets
Explain the relation between return and risk.
Analyze business transactions using the accounting equation.
Identify and prepare basic financial statements and explain how they interrelate.
