Q. Learning objectives of Accounting?

• Describe and identify the three basic forms of business organizations.

• differentiate between the three types of activities performed by business organizations.
• Illustrates the purposes and content of the income statement, balance sheet, statement of retained earnings and statement of cash flows.
• State the fundamental accounting equation as well as describe its relationship to the balance sheet.
• Using the underlying concepts or assumptions and analyze business transactions and determine their effects on items in the financial statements.
•  Prepare a statement of retained earnings, an income statement and a balance sheet.
•  Use and Analyze the financial results-the equity ratio.