Principles of Financial Accounting and Accounting Equation

 

 

Principles of Financial Accounting and Accounting Equation

  1. Identify generally accepted accounting principles and the groups that help develop them.
  2. Identify the importance of ethics in accounting.
  3. Construct the accounting equation and define assets, liabilities, and owners equity.
  4. Analyze business transactions using the accounting equation.
  5. Prepare simple versions of the four basic financial statements.

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