Version 1: Upon successful completion of the course, students will be able to: read and analyze balance sheets, determine and explain the significance of each entry; engage in accounting work, including the processes of matching, calculating credits and debits, cash flows, depreciation and other accounting skills; apply the basic rules of the Generally Accepted Accounting Principles (GAAP); and utilize various quantitative tools in the accounting toolbox, including ratio analyses, determining profitability and company valuation. Version 2: Same as version 1, and includes: use the basic rules of accounting to analyze how various business practices and tactics will affect a company’s accounting system and financial performance indicators; and describe the principle of revenue recognition and apply those principles to business practices under the accrual method of accounting used by major companies.