To orient students to the application of accounting principles and techniques in practice, focusing mainly on such concepts and topics as: investments in debt, equity, and derivative securities; revenue recognition at point of sale, and before and after delivery; fundamentals of accounting for, and financial presentation of, income taxes applicable to deferred income and expenses and operating losses; pensions and post-retirement benefits; leases; accounting changes and error analysis; statements of cash flows; and financial statement disclosures.