Financial Accounting Topics: Explain the meaning of GAAP and identify the key items of the FASB's conceptual framework. Identify the principles of internal control. Identify and calculate the tools of financial statement analysis. Evaluate the collection of accounts receivable.
Resources: Chapters 7, 8, and 15 of Financial Accounting Chapter 7: Accounting Principles 1. (a) What are generally accepted accounting principles (GAAP)? (b)What bodies provide authoritative support for GAAP? 2. What elements comprise the FASB's conceptual framework? Chapter 8: Internal Control E8-5 Listed bel