LO3-01: Identify the underlying characteristics of debt instruments and describe the basic approach to accounting for debt.
LO3-02: Account for bonds issued at face value, at a discount, or at a premium, recording interest using the effective interest method or using the straight-line method.
LO3-03: Characterize the accounting treatment of notes, including installment notes, issued for cash or for noncash consideration.
LO3-04: Describe the disclosures appropriate to long-term debt in its various forms and calculate related financial ratios.
LO3-05: Record the early extinguishment of debt, its conversion into equity securities, and bond issues with warrants.
LO3-06: Understand the option to report liabilities at their fair values.
LO3-07: Discuss the primary differences between U.S. GAAP and IFRS with respect to accounting for bonds and long-term notes.