1. Identify the management issues related to issuing long-term debt.
2. Identify and contrast the major characteristics of bonds.
3. Record the issuance of bonds at face value and at a discount or premium.
4. Use present values to determine the value of bonds.
5. Use the straight-line and effective interest methods to amortize bond discounts and premiums.
6. Account for bonds issued between interest dates and make year-end adjustments.
7. Account for the retirement of bonds and the conversion of bonds into stock.
8. Explain the basic features of mortgages payable, installment notes payable, long-term leases, and pensions and other postretirement benefits as long-term liabilities.