Deptmidtermreview - ACCOUNTING 101 MIDTERM REVIEW SHEET...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCOUNTING 101 MIDTERM REVIEW SHEET Chapter 1 1. Know what Sarbanes-Oxley is. 1. United States federal law enacted on July 30, 2002, as a reaction to a number of major corporate and accounting scandals including those affecting Enron , Tyco International , Adelphia , Peregrine Systems and WorldCom . These scandals, which cost investors billions of dollars when the share prices of affected companies collapsed, shook public confidence in the nation's securities markets . 2. The primary reason for financial accounting information 1. Provides info about the financial resources, obligations, activities 3. What are Generally Accepted Accounting Principles? 1. 4. What is the FASB? Chapter 2 1. What makes Owners’ Equity decrease? 2. Who uses financial statements? 3. What is the accounting equation? 4. How are assets valued? 5. How does the accounting equation stay in balance? 6. What is meant by going concern? 7.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/08/2009 for the course ACCT 101 taught by Professor Jim during the Spring '09 term at CSU Channel Islands.

Page1 / 2

Deptmidtermreview - ACCOUNTING 101 MIDTERM REVIEW SHEET...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online