Part 1: Foundation and review -- The environment of accounting -- The FSDB's conceptual framework of accounting -- The accounting information processing system -- The income statement and the retained earnings statement -- The balance sheet and the cash flows -- Concepts of future and present value -- Part 2: Asset recognition and measurement -- Revenue and expense recognition -- Cash and receivables -- Inventory: basic valuation methods -- Inventory: alternative valuation methods -- Operational assets: acquisition, disposal, and exchange -- Operational assets: depreciation and impairment -- Intangible assets and natural resources -- Investments in debt and equity securities -- Part 3: Liabilities -- Short-term liabilities -- Long-term liabilities -- Accounting for leases -- Accounting for pensions and other postemployment benefits -- Accounting for income taxes -- Part 4: Owner's equity -- Corporations: contributed capital -- Corporations: retained eqrnings and stock options -- Earnings per share -- Part 5: Special topics -- Statement of cash flows -- Accounting changes and error corrections -- Disclosures, segment reporting, and interim reporting

1. Accounting