1. Identify the management issues related to issuing long-term debt.



2. Identify and contrast the major characteristics of bonds.



3. Record the issuance of bonds at face value and at a discount or premium.



4. Use present values to determine the value of bonds.



5. Amortize bond discounts and bond premiums using the straight-line and effective interest methods.



6. Record bonds issued between interest dates and year-end adjustments.



Supplemental Objectives

7. Account for the retirement of bonds and the conversion of bonds into stock.



8. Explain the basic features of mortgages payable, long-term leases, and pensions and other post retirement benefits as long-term liabilities.



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