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ACC 290 Week 2 DQs: How are business events captured for reporting?

ACC 290 Week 2 DQs: How are business events captured for reporting?

ACC 290 Week 2 DQs: How are business events captured for reporting?

Financial Accounting, Ch. 3: The Accounting Information System

Read Ch. 3 of Financial Accounting. 

Consider the following as you read:

In the 1400’s, Luca Pacioli, who is known as the father of accounting, introduced the world to a better understanding of accounting and the double entry accounting system through his book, Summa de Arithmetica, Geometria, Proportioni et Proportionalita. Today, the same principles and concepts keep many companies around the world well informed of their financial standing:

  • How are business events captured for reporting?
  • What is the ultimate purpose of communicating accounting information?

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Financial Accounting, Ch. 4: Accrual Accounting Concepts

Read Ch. 4 of Financial Accounting. 

Consider the following as you read: 

  • How are changes in business activities monitored and tracked?

Week 2 Learning Team Collaborative Discussion: Analyzing the Effect of Transactions

Prepare for Week 2 Individual Assignment: Analyzing the Effect of Transactions. 

Discuss with your collaborative group how to develop a reflection on the effect of each transaction on assets, liabilities, and stockholder’s equity.  Write a 175-word individual response.

Week 2 – Adjusting Entries

Adjusting Entries

What is the significance of preparing adjusting entries? What if they were skipped or prepared incorrectly? 

Course: ACC290 Principles of Accounting I
School: University of Phoenix

 

 

  • : 09/11/2017
  • : 30

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