. What is accounting?

2. Briefly describe the two major fields of accounting.

3. Describe the various types of individuals who use accounting information and how they use that information to make important decisions.

4. What are two certifications available for accountants? Briefly explain each certification.

5. What is the role of the Financial Accounting Standards Board (FASB)?

6. Explain the purpose of Generally Accepted Accounting Principles (GAAP), including the organization currently responsible for the creation and governance of these standards.

7. Describe the similarities and differences among the four different types of business entities discussed in the chapter.