Chapter 1 Introducing Financial Accounting Learning Objectives – coverage by question MiniExercises Exercises Problems Cases and Projects LO1 – Identify the users of accounting information and discuss the costs and benefits of disclosure. 25 28, 34 49, 50 LO2 – Describe a company’s business activities and explain how these activities are represented by the accounting equation. 19, 20, 21 27, 29, 32, 33 36, 37, 38, 43 47 LO3 – Introduce the four key financial statements including the balance sheet, income statement, statement of stockholders’ equity and statement of cash flows. 22, 23, 24 30, 31 37, 38, 39, 40, 41, 42, 43, 44, 45 46, 47, 49 LO4 – Describe the institutions that regulate financial accounting and their role in establishing generally accepted accounting principles. 26 34 50 LO5 – Compute two key ratios that are commonly used to assess profitability and risk – return on equity and the debt-to-equity ratio. 32, 33 36, 43, 44, 45 46, 47, 48, 49 LO6 – Appendix 1A: Explain the conceptual framework for financial reporting. 35