Unformatted text preview: • Be able to conduct transaction analysis (given a business transaction know how it affects the accounting equation and the financial statements). • Know the generally accepted accounting principles of financial reporting (such as revenue recognition, matching, separate entity, full disclosure, materiality, etc.). • Define and explain the acronym IFRS and be aware of the U.S. roadmap. • Be able to prepare journal entries and record transactions in T accounts....
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- Spring '10
- Balance Sheet, Generally Accepted Accounting Principles, basic financial statements