| Outcomes |
- Develop an awareness and understanding of the accounting process and fundamental accounting principles that underpin the development of financial statements (e.g. accrual accounting vs. cash accounting, definition, recognition, measurement and disclosure of assets, liabilities, revenues, expenses; inventory valuation methods and methods of depreciation).
- Understand and interpret the nature and role of the principal financial statements (i.e., the Income Statement, the Statement of Financial Position, and the Statement of Cash Flows).
- Understand and apply cost concepts and management accounting to analyze common business management decisions such as pricing a product and services.
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