Application of GAAP

Essential Question:

How do Generally Accepted Accounting Principles (GAAP) ensure accuracy and consistency in financial reporting, and how can analyzing financial statements provide insights into a company's financial health?

Portrait of a Graduate:

Critical Thinking: Evaluating financial statements through the lens of GAAP.

Adaptive Perseverance: Navigating the complexities of financial analysis.

Communication: Presenting financial analysis findings effectively.

Responsibility: Upholding ethical standards in financial reporting.

Collaboration: Working in teams to analyze financial statements.

Inquiry Question:

What are the core principles of GAAP, and why are they critical for uniform financial reporting?

2. Inquiry Question:

How do the components of financial statements reflect a company's financial activities, and what does each component reveal?

3. Inquiry Question:

What methodologies and metrics are essential for analyzing financial statements, and how do they offer insights into a company's financial health?

Student Outcomes:

Articulate the core principles of GAAP and understand their importance in ensuring uniform financial reporting.

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2. Student Outcomes:

Identify and describe the components of financial statements, explaining what each component reveals about a company's financial activities.

3. Student Outcomes:

Apply methodologies and metrics to create and analyze financial statements, gaining insights into a company's financial health and making informed conclusions.

Skills Demonstrated:

Standards:

I The Accounting Profession
II Financial Reporting
III Financial Analysis
V Accounting Process
VI Interpretation and Use of Data
VII Compliance

Resources:

[Our Hidden Google Drive Resource link]

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