| 1 | Can explain the fundamental concepts of accounting, generally accepted accounting principles , and the accounting process. |
| 2 | Can record, classify, and account for transactions related to asset accounts. |
| 3 | Can explain the operation and applications of liability accounts and perform the related accounting entries. |
| 4 | Can record, classify, and account for income statement accounts and perform end-of-period transactions. |
| 5 | Can prepare and interpret financial statements (balance sheet and income statement). |