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CONCEPTUAL

C1 Explain the steps in processing transactions and the role of source documents. (p. 52)

C2 Describe an account and its use in recording transactions. (p. 53)

C3 Describe a ledger and a chart of accounts. (p. 56)

C4 Define debits and credits and explain double-entry accounting. (p. 57)

ANALYTICAL

A1 Analyze the impact of transactions on accounts and financial statements. (p. 61)

A2 Compute the debt ratio and describe its use in analyzing financial condition. (p. 72)

PROCEDURAL

P1 Record transactions in a journal and post entries to a ledger. (p. 58)

P2 Prepare and explain the use of a trial balance. (p. 67)

P3 Prepare financial statements from business transactions. (p. 68)