If you do well in this course, you will be able to:

• Analyze complicated and unique business situations
• Determine immediate and long-range effects on business income patterns
• Establish proper accounting procedures to record and report immediate and long-range effects
• Comprehend the environment and theoretical structure of financial accounting
• Implement the accounting process
• Prepare and classify the elements of the financial statements and the Financial Disclosures
• Determine when income is measured and reported
• Understand the concepts of the time value of money
• Examine cash and receivables
• Define and measure merchandise inventories
• Comprehend operational assets, acquisition, disposition, utilization, and impairment
• Apply various appraches to account for investments in equity and other companies