Studies basic concepts of financial and managerial accounting. Viewpoint is that of the users of accounting information (especially managers) rather than the preparer (the accountant).

This lesson teaches students about income statements. First, use the Discussion Guide (found in Task 1) to teach students about this concept. Then, use the activity (found in Task 3) to assess their understanding. This activity asks students to examine an income statement and see a real example of why they are so important to businesses. A full lesson module related to this concept can be found on the MBA Learning Center. Visit mba.instructure.com and search for "FI:094" in the Commons.