Acct504

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ACCT504 Week 1 Objectives (JAN15)

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http://devry.equella.ecollege.com/file/c3a70b64-5599-41cb-be31-a270...

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Given an annual report, the student should be able to read, understand, analyze, and explain a
A company’s Balance Sheet to other decision makers and use the knowledge and skills to make business decisions. Key Concepts
Understand the environment of financial reporting in the United States and explain the importance of generally accepted accounting principles.
Explain the meaning and purpose of a balance sheet and the items that appear in the balance sheet.
Determine the interrelationship among the basic financial statements.
Analyze the relationship between certain items in the balance sheet and the income statement with the help of ratio analysis.
Evaluate the way that different assets, liabilities, and stockholders' equity items are presented in a balance sheet.
Given an annual report, the student should be able to read, understand, analyze, and explain a
B company’s Income Statement to other decision makers and use the knowledge and skills to make business decisions.

Key Concepts
Explain the meaning and purpose of an income statement and the items that appear in the income statement. Determine the interrelationship among the basic financial statements.
Analyze the relationship between certain items in the balance sheet and the income statement with the help of ratio analysis.
Evaluate the way that different revenues, expenses, gains, and losses are presented in an income statement. Given an annual report, the student should be able to read, understand, analyze, and explain a
C company’s Statement of Cash Flows to other decision makers and use the knowledge and skills to make business decisions.

Key Concepts
Explain the meaning and purpose of a statement of cash flows and the items that appear in the…...

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