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Study Guide

[ACCT 301] - Final Exam Guide - Ultimate 352 pages long Study Guide!


Department
Accounting
Course Code
ACCT 301
Professor
Griffin
Study Guide
Final

Page:
of 352
SFSU
ACCT 301
FINAL EXAM
STUDY GUIDE
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1-1
CHAPTER 1
Introduction to
Financial Statements
Study Objectives
1. Describe the primary forms of business organization.
2. Identify the users and uses of accounting information.
3. Explain the three principal types of business activity
4. Describe the content and purpose of each of the financial statements.
5. Explain the meaning of assets, liabilities, and stockholders’ equity and state the basic accounting equation.
6. Describe the components that supplement the financial statements in an annual report.
7. Explain the basic assumptions and principles underlying financial statements.
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