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What is Accounting (Example)

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Name of Student Instructor’s Name Course Date Explain why accounting is important and list the users of accounting information Accounting is the process of recording of financial activities of individuals or organizations in order to provide an understanding of the financial position at any one time. It requires recording and preparing comprehensive and systematic records of business transactions (Evans et al. expenditures and incomes. All accounts in the general ledger are tagged as one of the following: Asset Liability Owner's equity Revenue Expense Gain or loss account. (Saudagaran 1996) Reference Saudagaran Shahrokh M. "The first course in accounting: An innovative approach." Issues in Accounting Education 11.1 (1996): 83. Thomas G. Evans Martin E. Taylor and Robert J. Rolfe. International accounting and reporting. Cengage Learning 1999. [...]

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Please address both categories in your post. Category A - Please select and discuss one of the following issues: •Explain why accounting is important and list the users of accounting information •Describe the organizations and rules that govern accounting •Describe the accounting equation and define assets, liabilities, and equity •Explain how the accounting equation can be used to analyze transactions Category B - Please select and discuss one of the following issues: •Explain accounts as they relate to the accounting equation and describe common accounts •Define debits, credits, and normal account balances using double-entry accounting and T-accounts •Describe the recording of transactions in a journal and how journal entries are posted to the ledger •Explain the trial balance and illustrate how it is used to prepare financial statements Your initial post must be in your own words, be a minimum of 250 words in length, and be supported with a reference. Post at least two peer responses further discussing and exploring the materials covered this week. Peer responses should be a minimum of 100 words. Adhere to Forum Grading Requirements as detailed below. Forum Instructions Students must post a main response to the weekly discussion question by Day 3, and at least two replies to other students by Day 7. Active participation is required by replying to classmates during the week of discussion. Therefore, replies after the end of the each week will not be graded. The forums are for student interaction and submitting input after the end of the week serves no learning objectives and does not constitute as participation. Students should demonstrate their own knowledge in the forums and avoid copying and pasting from web sites. Responses will be graded directly from the Forums. Make sure you are using credible sources in your discussions and assignments. Scholarly journals are the preferred source of credible/quality references. These consist of peer-reviewed articles published in academic journals related to the field, which are found via our Library. Websites such as Investopedia,,, or dictionary-type of websites limit the insight to the topics. Wikipedia is not acceptable as it is not a reliable or credible source of reference. The purpose is to bring in new information and how does it apply to our topic from a real-world perspective, instead of extending on definitions that are found in the book. More information what a credible source consists of can be found here: Your grade earned for your responses will be based on the Forums Grading Criteria: Discussion Module Quality (40 points available) Questions answered completely (i.e. including Instructor follow-up) (14 pts.) 14 Posts on topic and demonstrated analysis (16 pts.) 16 Original post meets minimum word requirement (10 pts.) 10 Total 40 Participation Guidelines (26 points available): Initial post submitted before the deadline (14 pts.) 14 Posts made on at least two days (8 pts.) 8 At least two responses to classmates (4 pts.) 4 Total 26 Clarity and Organization of Writing (28 points available): Posts were organized (6 pts.) 6 References were used with proper attribution (8 pts.) 8 No spelling or grammatical errors (14 pts.) 14 Total 28 Professional & Netiquette (6 points available): Respectful (2 pts.) 2 Appropriate (2 pts.) 2 Professional Tone (2 pts.) 2 Total 6 TOTAL POINTS EARNED (100 pts.) 100

Subject Area: Accounting

Document Type: Paraphrasing

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $25

Words 275

Pages 1

Completed in 7 days

Expert ngaruiya199126

Client Review

Essay was good


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