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Comprehend the short-term financial obligations of a firm as indicated by current liabilities.
Familiarity with GAAP and IFRS accounting principles and their implications for financial reporting.
Understand non-cash items in financial statements and their impact on a company’s financial performance.
Understand the factors influencing net income and operating cash flow.

Definitions:

Task Specialization

The process of dividing work into specific tasks that are assigned to individuals based on their skills or expertise.

Interdependence

The mutual reliance between two or more groups, organisms, systems, or entities where each is dependent on the others for certain needs.

Natural Processes

The organic and inherent procedures and events occurring in the environment and the physical world.

Unfavorable Norms

Social rules that are perceived negatively by society or certain groups, often because they lead to undesired outcomes.

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