NASBA Field of Study
• Components of an accounting information system
• Financial statements
• Concepts for recognition and measurement
• Accrual accounting
• Cash-based accounting
• The accounting equation
• Debits and credits
• Journal entries
• Trial balances
• Recognize concepts of recognition and measurement.
• Contrast accrual-based accounting with cash-based accounting.
• Recall the accounting equation.
• Differentiate between debits and credits.
• Recognize key steps in the accounting cycle.
• Identify key components of an accounting information system.
• Identify the key steps in the closing process.
Accounting and finance professionals who work for enterprises required to comply with U.S. GAAP or are interested in understanding U.S. accounting fundamentals.