What are the four basic financial statements? What do the different financial statements tell you about a company? Which financial statement is the most useful? Why?
What types of information is provided to managers in your department and how do managers in your organization use information presented in financial statements? What is your experience with financial statements? If you don’t have experience with the statements, what experience would you like to obtain?
What is the debt and credit?
Who are the different users of accounting information? What are the differences between managerial and financial accounting? What is the role of the CPA and how does it differ from other accountants? What is the value of the accounting function in your organization, both internally and externally?
What are the four different adjusting entries? What accounting assumptions necessitate the use of adjusting entries? What accounts are subject to adjusting journal entries? What are the advantages and disadvantages of using automated accounting systems to do adjusting entries? What are your thoughts on making adjusting entries; are