Compare and contrast assets, liabilities, and equity Identify whether assets and debt would be categorized as current (or short term) and long term Describe the basic components of balance sheets, income statements and sources and uses of funds statements What is the difference in the time period of the data represented in an income statement and a balance sheet?| Explain when the revenue from a service should be recognized and recorded in a cost accounting system and an accrual accounting system Calculate ratios analysis using financial statements Calculate and interpret common-size financial statements Assess the general financial condition of an organization using ratio analysis and common-size financial statements calculated using skills from accounting discipline Explain the limitations of financial statement analysis