LO3-01: Describe the purpose of the balance sheet and understand its usefulness and limitations.
LO3-02: Identify and describe the various asset classifications.
LO3-03: Identify and describe the various liability and shareholders' equity classifications.
LO3-04: Explain the purpose of financial statement disclosures.
LO3-05: Describe disclosures related to management's discussion and analysis, responsibilities, and compensation.
LO3-06: Explain the purpose of an audit and describe the content of the audit report.
LO3-08: Identify and calculate the common liquidity and solvency ratios used to assess risk.