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Intermediate Accounting
Curtis L. Norton, Northern Illinois University
Michael Diamond, University of Southern California
Donald Pagach, North Carolina State University
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Learning Objectives
Chapter 1: Accounting Foundations
- Identify the elements of the balance sheet and discuss four key concepts
that underlie the balance sheet.
- Identify the elements of the income statement and discuss six key concepts
that underlie the income statement.
- Summarize the contents of the statement of changes in stockholders' equity
and the statement of cash flows.
- Explain how the accounting equation forms the basis of double-entry accounting.
- Explain how the accounting equation forms the basis of double-entry accounting.
- Outline the steps in the accounting cycle.
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