1Demonstrate an understanding of fundamental accounting principles, including the double-entry system and accrual accounting, to accurately record financial transactions and prepare financial statements.

2Demonstrate proficiency in preparing, analyzing, and interpreting financial statements, such as income statements, balance sheets, and cash flow statements.

3Demonstrate ability to accurately adjust for depreciation and amortization.

4Explain and demonstrate the accounting procedures for merchandising, inventories, cost of goods, payroll, and receivables and payables.

5Explain the principles of internal control and the role of ethics in financial reporting.