Outcomes:

After completing this class, students should be able to:

• Discuss and explain the application of the FASB Conceptual Framework.
• Discuss the use of ethics in accounting decision making.
• Interpret and explain the decision making and measurement processes to prepare financial statements.
• Apply accounting principles to the recognition and recording of assets, liabilities and equity.
• Use mathematical methods to calculate and record the time value of money.
• Record and measure inventory and explain inventory cost flow assumptions.
• Discuss and apply depletion, depreciation and amortization methods.