GS 803 Audio: Financial Statement Analysi‪s‬ American College

1-1 Recognize the information conveyed in each of the four basic financial statements and the way that it is used by different decision makers (investors, creditors, and managers).

1-2 Identify the role of generally accepted accounting principles (GAAP) in determining the content of financial statements.

1-3 Distinguish the roles of managers and auditors in the accounting communication process.

1-4 Appreciate the importance of ethics, reputation, and legal liability in accounting.

2-1 Define the objective of financial reporting, the elements of the balance sheet, and the related key accounting assumptions and principles.

2-2 Identify what constitutes a business transaction and recognize common balance sheet account titles used in business.