Explain the purpose and identify the building blocks of analysis. Describe standards for comparisons in analysis. Explain the form and assess […]
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Distinguish between operating, investing, and financing activities, and describe how non cash investing and financing activities are disclosed.
Identify characteristics of corporations and their organization. Explain characteristics of, and distribute dividends between, commonand preferred stock. Explain the items reported in […]
Identify and describe known current liabilities. Explain how to account for contingent liabilities.
Contingent liabilities. Describe current and long-term liabilities and their characteristics.Identify and describe known current liabilities. Explain how to account for contingent […]
Explain depreciation for partial years and changes in estimates.
Explain the cost principle for computing the cost of plant assets.Distinguish between revenue and capital expenditures, and account for them.Explain […]
Explain how receivables can be converted to cash before maturity
Describe accounts receivable and how they occur and are recorded. Describe a note receivable, computation of its maturity date and the […]
Define cash and cash equivalents and explain how to report them.
Define internal control and identify its purpose and principles.Define cash and cash equivalents and explain how to report them.
Analyze the effects of inventory methods for both financial and tax reporting.
Financial Accounting Identify the items making up merchandise inventory. Identify the costs of merchandise inventory. Analyze the effects of inventory methods […]
Describe merchandising activities and identify income components for a merchandising company.
Describe merchandising activities andidentify income components for a merchandising company. Identify and explain the inventory asset and cost flows of […]
Explain accrual accounting and how it improves financial statements. Identify steps in the accounting cycle.
Periodic reporting Explain the importance of periodic reporting and the time periodassumption.Explain accrual accounting and how it improves financial statements. Identify […]
Define debits and credits and explain double-entry accounting
Explain the steps in processing transactions. Describe an account and its use in recording transactions. Describe a ledger and a chart of […]
