PPT-13: After studying this chapter, you should be able to:

Understand the importance of nonfinancial and current liabilities from a business perspective Define liabilities distinguish financial liabilities from other liabilities and identify how they . Lexington Home Brands courtesy of AmericanFurniture Manufacturers Association demanding the most skill are channeling andFigure 10-1. The technique is normally done onlyTufting padding, usually by tug Understand basic accounting terminology.. Explain double-entry rules.. Explain how transactions affect the accounting equation.. Identify the steps in the accounting cycle and the steps in the recording process.. Understand inventory from a business perspective.. Define inventory from an accounting perspective.. Identify which inventory items should be included in ending inventory.. Identify the effects of inventory errors on the financial statements and adjust for them.. Understand how firms create value and manage performance.. Understand how users use information about performance to make decisions.. Understand the concept of and be able to assess quality of earnings/information.. Understand cash and accounts receivable from a business perspective.. Define financial assets, and identify items that are considered cash and cash equivalents and how they are reported.. Define receivables and identify the different types of receivables from an accounting perspective.. Understand . the importance of disclosure from a business perspective.. Review . the full disclosure principle and describe problems of implementation.. Explain . the use of accounting policy notes in financial statement preparation.. :. Identify and explain the guest service principles.. List and explain steps involved in providing guest service.. Explain and apply the concepts of service.. Identify types of service.. Illustrate the qualities of service such as perishable, tangible, and nontangible.. Understand . the importance of intangible assets and goodwill from a business perspective.. Define and describe the characteristics of intangible assets.. Identify and apply the recognition and measurement requirements for purchased intangible assets.. Discuss the characteristics of the corporate form of organization, rights of . shareholders, and . different types of shares.. Explain . how to account for the issuance, reacquisition, and retirement of shares, stock . Indicate the usefulness and describe the main components of a conceptual framework for financial reporting.. Identify the qualitative characteristics of accounting information.. Define the basic elements of financial statements.. Understand . the nature of investments including which types of companies have significant investments.. Explain and apply the cost/amortized cost model of accounting for investments.. Explain and apply the fair value through net income model of accounting for investments.. Chapter 2. Lesson 1. Studying Geography. Physical maps show land and water features.. Studying Geography. Political maps show the names and borders of countries.. Studying Geography. Special purpose maps show patterns such as climate, natural resources, or population.. RED HOT ROOTS LESSON 44 ABLE, IBLE, IL, ILE ABLE, IBLE ABLE, CAN DO ENJOYABLE IL, ILE CAPABLE OF BEING, FRAGILE LIKE SUFFIXES AND MEANINGS (ADJ) POLITE AND RESPECTFUL; ACTING WITH COURTESY AND CIVILITY 5 Research-ByEdward KangToo often people imagine that long hours of studying are the best path to being a model straight-A student Yetresearch showsthat highly successful students actually spend less