- 1: Demonstrate positive work ethic
- 10: Demonstrate critical-thinking and problem-solving skills.
- 12: Demonstrate an understanding of workplace organizations, systems, and climates.
- 18: Demonstrate proficiency with technologies common to a specific occupation.
- 19: Demonstrate information technology skills.
- 22: Examine aspects of planning within an industry/organization
- 23: Examine aspects of management within an industry/organization.
- 34: Describe the purpose of accounting and the role it plays in the global economy. 35: Demonstrate the effects of transactions on the accounting equation.
- 101: Explore career opportunities in accounting.
After studying Chapter 1, in addition to defining key terms, you will be able to:
- LO1 Describe the different users of accounting information.
- LO2 Prepare a net worth statement and explain its purpose.
- LO3 Classify accounts as assets, liabilities, or owner’s equity and demonstrate their relationship in the accounting equation.
- LO4 Analyze the effects of transactions on the accounting equation.
- LO5 Distinguish between cash and on account transactions.
- LO6 Compare and contrast the types of transactions that increase and decrease owner’s equity.
- LO7 Explain the difference between expenses and liabilities.
Cover Sheet (objectives and Competencies)
Chapter 1 1 textbook (Word document of the textbook)
Chapter 1 1 Vocabulary Acct
Chapter WRKPRS Study Guide
- 1-1 wkprs
- 1-2 wkprs
- 1-3 wkprs
1 WKPRS Mastery, challenge Problems