Thursday September 4, 2014

Chapter 1 Learning Goals:

1. Describe the development of business and accounting
2. Explain the elements of accounting (assets, liabilities, owners’ equity, revenue, expense, and net income)
3. Identify the purpose and relationship among the four financial statements and the report of the independent accountant

Today We Will:

• Work through Practice Exercises on Discussion Notes p. 5-7
• Review Practice Exercises together