1.What are management information systems (MIS)?What purpose do these systems serve in organizations?

2.What is accounting?How do companies use information from their accounting systems and statements?

3.What is an audit?

4.What is the difference between managerial and financial accounting?(Note: Each of you will likely take both a managerial and a financial accounting class...it's important that you know the difference in what you are studying in these classes).

5.What does the balance sheet measure?What is the "Accounting Equation" used in a balance sheet?

6.What is an income statement?Explain the components (or equation) of the income statement.

7.What is a statement of cash flows?Explain the components (or equation) of the statement of cash flows.