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Introduction

I can't stress enough how important it is to have a sense of community in our class.
1. Please introduce yourself to the class. Tell us something interesting about you.
2. Respond to the introductions of others. Welcome them to the class.

I am a southern girl living in the hill country in Texas in a small town called Horseshoe Bay. Horseshoe Bay is so
small we dont have a stop light, however it is nice to be able to leave my house unlocked and not have to worry
about it. If I need to shop I have to travel some ways to the store. For groceries I have to drive 10 min to a store
and for clothes I have to drive 45 min to the out skirts of Austin.
I love my family, I am a single mother with a wonderful little 9 year old boy named Matthew. My mothers side of the
family is here in Texas, where my Dads side of the family is in Michigan. My siblings just recently had their own
little ones, Landen is 2, Brantley is 2, and Brooklynn is only a couple of months.
I work in the food and beverage industry at a little place on Main Street in Marble Falls called Fornos on Main. I am
a bartender there, which is why I am in school. Ive been in the food and beverage industry for 10 years and I want
a more stable environment for me and my son. Which is why I am seeking a career in Business Administration.
I would say the most interesting thing about me is that I was born in Okinawa, Japan in a US Navy Hospital. My
dad was in the Air Force and my family was stationed there for 2 years. In addition I know American Sign Language
and have been collection coins since I was 8 years old.

WEEK 1
For your Week 1 Forum Topic Responses, please choose one of the following topics, research it
(need at least 2 sources in addition to your textbook) and write up a report of 300 - 500 words in APA
style. Please submit your write up to Turnitin.com using the link in the Written Assignments
folder. Then, post your write up here in the discussion board. These will be graded on: thought
quality, work effort, research, analysis, grammar and spelling. (Due by end of day Week 1 Day 3)
Domini Social Index (see page 6 of textbook)
Dodd-Frank
American Institute of Certified Public Accountants' Code of Professional Conduct
International Financial Reporting Standards
Measurement (Cost) Principle
Business Entity Assumption
Ethics Challenge question BTN 1-3 (page 45 of textbook)
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 - 250
words). (Due by end of day Week 1 Day 7)

For week 1 forum topic discussion question I choose the topic of Business Entity Assumption.


A Business entity assumption, also known as economic entity assumption, or separate entity assumption is one
of the elemental principles of accounting. The business entity assumption recognizes that the organization is
viewed as an entity separate from its owners. While certain types of business, such as a sole proprietorship may
not be legally independent from the owners, the accounting performed sustains on being detachable from the
owner. This means that the organization has its own financial status separate from the finances of its owners,
employees, or stockholders.
The business enters into accounting data transactions independently of its owners, manages its own cash inflows
and outflows and communicates directly with wholesalers. Any legal actions that may be conducted against the
business will do so excluding the owners. Instead the legal action deals directly with the business. Making the
owners personal assets and liabilities convey no association with the business assets and liabilities.
However, business entity assumptions does recognize that a business and its owners are inevitably linked
together in evident ways. For example, Bill Gates helped start up Microsoft and would be considered and
owner. However, Microsoft and Bill Gates are two different entities and are treated that way by the law.
(Dou14) Bill Gates has individual income tax, whereas Microsoft has business income tax. Nonetheless, from
the accounting perception, every transaction still applies to either the owner or the business. Even though the
transactions turn into profit not just for the company growth but the owners growth as well.
The field of accounting had greatly benefit from basic principles such as business entity assumption. This
principles permits accountants to inspect businesses in spite of ownership position. In addition it produces
financial statements that reflect on how a business is performing, regardless of the financial activities on the
owners part in the public eye. Another benefit is the guideline that each transaction must be assigned to a single
entity. Which prevents duplication entries overlapping accounts. The business entity assumption helps clearly
distinguish the assets that belong to the business and in which belong to the owners, a distinction that is relevant
in assessing the financial health of a business

References
Dennis Hartman, D. M. (2014, May 12). What Business Entity Assumption? Retrieved from Chron:
http://smallbusiness.chron.com/business-entity-assumption-23253.html
Don Rafner, D. M. (2014). Common Ethical Workplace Dilemmas. Retrieved from Chron:
http://smallbusiness.chron.com/common-ethical-workplace-dilemmas-748.html
Doups3. (2014, May 12). The Economic Entity Assumption. Retrieved from ClockWorkAccounting:
http://clockworkaccounting.com/the-economic-entity-assumption/
Wild, J. (2013). Fund. Accounting Principles 21st Edition. McGraw-Hill.





WEEK 2

Please choose one of the following topics, research it (need at least 2 sources in addition to your
textbook) and write up a report of at least 300 - 500 words in APA style. Please submit your write up
to Turnitin.com using the link in the Written Assignments folder. Then post your write up in the
discussion board. These will be graded on: thought quality, work effort, research, analysis, grammar
and spelling. (Due by end of day Week 2 Day 3)
Bookkeeping v Accounting
Double v Single Entry Accounting
Debt Ratio & Financial Leverage
General Ledger Software Packages
Origin of Debit & Credit
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 - 250
words). (Due by end of day Week 2 Day 7)

Debt ratio & financial leverage in accounting meaning and definition. Debit is an entry that increases asset and
expenses accounts, and decreases liability, revenue and most equity accounts. (Wild, 2013, p.55) Financial
leverage is earning a higher return on equity by paying dividends on preferred stock or interest on debt at a rate
lower than the return earned with the assets from issuing preferred stock or debt. (Wild, 2013, p.523)
Debt ratio is a ratio that specifies the section of a companys debt to its assets. It indicates how much the
company relies on debt to finance assets. The debt ratio gives a quick calculate of the amount of debt that the
company has on its balance sheets compared to its assets. The higher the ratio, the greater the risk associated
with the operation. A low debt ratio indicates conventional financing with an opportunity to borrow in the future
at no substantial risk.
Financial leverage can be applicably depicted as the magnitude to which a business or investor is using the
borrowed money. Companies with high leverage are considered to be a risk of bankruptcy if, they are not able
to repay the debts. It is not that financial leverage is always bad. However, it can lead to an increase
shareholders return on investment.

A companys debt ratio is computed as total liabilities dived by total assets. It reveals how much of the assets
are financed by creditor financing. The higher the ratio, the more risk a company faces because liabilities must
be repaid at specific dates. (Wild, 2013, p.74) Both debt and equity can be found on the companys balance
sheet. Total liabilities may be debt and stockholders equity may be show for equity.
For example, as the debt of a company increases, the debt to ratio increases. (Finance Formulas, 2014)


References:

Wild, J. (2013). Fund. Accounting Principles 21st Edition. McGraw-Hill.
Finance Formulas. (2014, May 21). Finance Formulas. Retrieved from Debt to Equity Ratio (D/E):
http://www.financeformulas.net/Debt-to-Equity-Ratio.html
Investopedia. (2014). Investopedia. Retrieved from Debit: http://www.investopedia.com/terms/d/debit.asp
Investopedia. (2014). Investopedia. Retrieved from Leverage Ratio:
http://www.investopedia.com/terms/l/leverageratio.asp


References
Doups. (2014, May 12). The Economic Entity Assumption. Retrieved from ClockWorkAccounting:
http://clockworkaccounting.com/the-economic-entity-assumption/
Wild, J. (2013). Fund. Accounting Principles 21st Edition. McGraw-Hill.



WEEK 3

Please choose one of the following topics, research it (need at least 2 sources in addition to your
textbook) and write up a report of at least 300 - 500 words in APA style. Please submit your write up
to Turnitin.com using the link in the Written Assignments folder. Then post your write up here in the
discussion board. These will be graded on: thought quality, work effort, research, analysis, grammar
and spelling. (Due by end of day Week 3 Day 3)
Choosing Fiscal Year Ends
Accrual vs Cash Basis
Revenue Recognition 11,108, A-7 / 11, 53, 61, 96, 101, 103
Unearned Revenue
Deferred Expenses
Adjusting Entries and their role in Fraud
Current Ratio
Also, please respond to at least two posts of others. Your responses need to be substantive (150 -
250 words). (Due by end of day Week 3 Day 7)

Revenue recognition is an important concept in accounting because misreporting revenue results in
conflicting alterations to all of a companys businesss accounting statements. Revenue recognition
means recording any revenue in the accounts to show what a business has earned. Regulations and
rules exist on when and how to recognize revenue, both in guidelines and national statutes created
by professional accounting organizations.
An entitys revenue activities involve delivering or producing goods, rendering services, or other
activities that constitute its ongoing central operations, and revenues are considered to have been
earned when the entity has substantially accomplished what it must do to be entitled to the benefits
represented by the revenues. (Jeacock, 2009)



Revenue recognition is defined in the text as revenues are recognized at the time of shipment to the
dealer or distributor or other customer.(Wild, 2013, p.A-7) Generally, income is recognized as
revenue when the company distributes its services or product and receives compensation. The SEC
released SAB 101, Revenue Recognition in Financial Statements, then revised the guidance in SAB
104. The SABs (Clark, 2006) 101 and 104 describe four criteria for recording revenue:
Persuasive evidence of an arrangement exists (sale has been made)
Delivery has occurred or services have been rendered
The price is fixed or determinable
Collectability is reasonably assured
Although not all companies are subject to the SABs, it generally is considered a guideline.

References:

Clark, R. L. (2006, October). Revenue-Recognition Decisions: A Slippery Slope? Retrieved from The
CPA Journal: http://www.nysscpa.org/cpajournal/2006/1006/perspectives/p6.htm
J.Jeacock. (2009, June 19). International Accounting Standards Board. Retrieved from Preliminary
Vies on Revenue Recognition in Contrancts with Customers: http://www.ifrs.org/Current-
Projects/IASB-Projects/Revenue-Recognition/Discussion-
Paper/Documents/DP_PreliminaryViewsRevenueRecognition1208.pdf
Wild, J. (2013). Fund. Accounting Principles 21st Edition. McGraw-Hill.


References



WEEK 4

Please choose one of the following topics, research it (need at least 2 sources in addition to your
textbook) and write up a report of at 300 - 500 words in APA style. Please submit your write up to
Turnitin.com using the link in the Written Assignments folder. Then post your write up in the
discussion board. These will be graded on: thought quality, work effort, research, analysis, grammar
and spelling. (Due by end of day Week 4 Day 3)
Current Ratio
Gross Margin
Trade Discounts
Perpetual v Periodic Inventory Systems
Inventory Shrinkage
Consignment
Frauds Involving Inventory
International Financial Reporting Standards (IFRS) and FIFO & LIFO
Inventory Turnover
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 - 250
words). (Due by end of day Week 4 Day 7)

The International Financial Reporting Standards or IFRS is an independent foundation, not-for prifit
private sector organization working in the public interest. The principal objectives of the IRS
Foundation are:
To develop a single set of high quality, understandable, enforceable and globally accepted
International Financial Reporting Standards(IFRSs) through its standard-setting body, the
International Accounting Standards Board (IASB)
To promote the use and rigorous application of those standards
To take account of the financial reporting needs of emerging economies and small and
medium-sized entities(SMEs) and
To promote and facilitate adoption of IFRSs, being the standards and interpretations issued by
the ISAB, through the convergence of national accounting standards and IFRSs.
(IFRS Foundation, 2014)
FIFO stands for first-in, first-out, were as LIFO stands for last-in-first-out. FIFO method of assigning
cost to both inventory and cost of goods sold assumes that inventory items are sold in the order
attained. When sale occur, the cost of the earliest unit acquired are charged to cost of goods sold.
(Wild, 2013, p.235) FIFO assigns the lowest amount of cost of goods sold yielding the highest gross
profit and net income. FIFO also assigns an amount to inventory on the balance sheet that
approximates its current cost. Which mimics the actual flow of goods for most businesses. (
Wild, 2013, p.238)
The LIFO method assumes that goods purchased most recently are sold first and that the remaining
items have been purchased at earlier periods, yielding a lower gross profit during high inflation
periods that the first-in-first-out accounting method.(Shan, 2011, p.215) This can yield a temporary
tax advantage by postponing payment of some income tax. One appeal of LIFO is that by assigning
cost from the most recent purchases to cost of goods sold, LIFO comes closest to matching current
costs of goods sold with revenues.

References:

IFRS Foundation. (2014). IFRS. Retrieved from About the IFRS Foundatiobn and the IASB:
http://www.ifrs.org/The-organisation/Pages/IFRS-Foundation-and-the-IASB.aspx
Wild, J. (2013). Fund. Accounting Principles 21st Edition. McGraw-Hill.
Shan, A. J. (2011). Business Now (1st ed.). New York: McGraw-Hill.


WEEK 5

Please choose one of the following topics, research it (need at least 2 sources in addition to your
textbook) and write up a report of at least 300 - 500 words in APA style. Please submit your write up
to Turnitin.com using the link in the Written Assignments folder. Then post your write up here in the
discussion board. These will be graded on: thought quality, work effort, research, analysis, grammar
and spelling. (Due by end of day Week 5 Day 3)
ERP (Enterprise Resource Planning) Software
Ethics Challenge Question BTN 7-3
Five basic principles of accounting information systems
Employer monitoring of employee communications
Technological advances in the components of accounting systems
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 - 250
words). (Due by end of day Week 5 Day 7)


WEEK 6

Please choose one of the following topics, research it (need at least 2 sources in addition to your
textbook) and write up a report of 300 - 500 words in APA style. Please submit your write up to
Turnitin.com using the link in the Week 6 Written Assignments folder. Then post your write up here in
the discussion board. These will be graded on: thought quality, work effort, research, analysis,
grammar and spelling. (Due by end of day Week 6 Day 3)
Section 404 of Sarbanes-Oxley
Bonding Employees
Fraud Triangle
Technology Controls
Trend in Accounts Receivable Write-offs
Factoring Receivables
Accounts Receivable Turnover
Benefits of Offering Consumers Credit
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 - 250
words). (Due by end of day Week 6 Day 7)

In 2002, largely in response to widespread corporate accounting scandals, congress passed the Sarbanes-Oxley
Act to establish a system of federal oversight of corporate accounting practices. The Sarbanes-Oxley Act is also
known as the Public Company Accounting Reform and Investor Protection Act of 2002. The act was passed in
light of major scandals that occurred in such companies as Enron and WorldCom. (Shan, 2011, p.234)
In addition to making fraudulent financial reporting a criminal offenses and strengthening penalties for
corporate fraud, the law requires corporation to establish codes of ethics for financial reporting and to develop
greater transparency in financial reporting to their investors and other stakeholders. (Ferrell, 2012, p.108) The
Sarbanes-Oxley Act requires the managers and auditors of companies whose stock is traded on an exchange to
document and certify the system of internal controls. Section 404 of Sarbanes-Oxley Act requires that managers
document and assess the effectiveness of all internal control process4es that can impact financial reporting.
(Wild, 2013, p.319)
The U.S Securities and Exchange Commission stated the following:
As directed by Section 404 of the Sarbanes-Oxley Act of 2002, we are adopting rules requiring companies
subject to the reporting requirements of the Securities Exchange Act of 1934, other than registered investment
companies, to include in their annual reports a report of management on the company's internal control over
financial reporting. The internal control report must include: a statement of management's responsibility for
establishing and maintaining adequate internal control over financial reporting for the company; management's
assessment of the effectiveness of the company's internal control over financial reporting as of the end of the
company's most recent fiscal year; a statement identifying the framework used by management to evaluate the
effectiveness of the company's internal control over financial reporting; and a statement that the registered
public accounting firm that audited the company's financial statements included in the annual report has issued
an attestation report on management's assessment of the company's internal control over financial reporting.
Under the new rules, a company is required to file the registered public accounting firm's attestation report as
part of the annual report. Furthermore, we are adding a requirement that management evaluate any change in
the company's internal control over financial reporting that occurred during a fiscal quarter that has materially
affected, or is reasonably likely to materially affect, the company's internal control over financial reporting.
Issuers are required to publish information in their annual reports concerning the scope and adequacy of the
internal control structure and procedures for financial reporting. This statement shall also assess the
effectiveness of such internal controls and procedures. The registered accounting firm shall, in the same report,
attest to and report on the assessment on the effectiveness of the internal control structure and procedures for
financial reporting.

References:

US Government. (2008, 08 28). Final Rule: Management's Report on Internal Control Over Financial
Reporting and Certification of Disclosure in Exchange Act Periodic Reports. Retrieved from U.S.
Securiteis and Exchange Commission: http://www.sec.gov/rules/final/33-8238.htm
Wild, J. (2013). Fund. Accounting Principles 21st Edition. McGraw-Hill.
Shan, A. J. (2011). Business Now (1st ed.). New York: McGraw-Hill

Ferrell, F. F. (2012). Business Ethics: Ethical Decision Making & Cases 9th Edition. Mason: Cengage Learning

WEEK 7

Please choose one of the following topics, research it (need at least 2 sources in addition to your textbook) and write
up a report of 300 - 500 words in APA style. Please submit your write up to Turnitin.com using the link in the Written
Assignments folder. Then post your write up here in the discussion board. These will be graded on: thought quality,
work effort, research, analysis, grammar and spelling. (Due by end of day Week 7 Day 3)
IFRS and Determining Useful Lives
Total Asset Turnover
Impairments
MACRS (Modified Accelerated Cost Recovery System)
Switching Depreciation Method
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 - 250 words). (Due
by end of day Week 7 Day 7)



WEEK 8

Please choose one of the following topics, research it (need at least 2 sources in addition to your
textbook) and write up a report of 300 - 500 words in APA style. Please submit your write up to
Turnitin.com using the link in the Written Assignments folder. Then post your write up here in the
discussion board. These will be graded on: thought quality, work effort, research, analysis, grammar
and spelling. (Due by end of day Week 8 Day 3)
Contingent Liabilities
Federal Income Tax
Employer Taxes
FICA Taxes
How to Account for Gift Cards & Reward Programs
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 - 250
words). (Due by end of day Week 8 Day 7)

Investopedia definition of Federal Income Tax:
A tax levied by the United States Internal Revenue Services (IRS) on the annual earnings of individuals,
corporations, trusts and other legal entities. Federal income taxes are applied on all forms of earnings that make
up a taxpayers taxable income, such as employment earnings or capital gains.
The Federal Income Tax consists of six marginal tax brackets, ranging from a low of 10% to a high of 39.6%.
As of tax year 2013, a new 39.6% tax bracket has been added for income over $400,000 for single taxpayers -
for tax years 2012 and earlier, the highest tax bracket was 35%. There are four complete sets of tax brackets for
different filing types, each with different bracket widths:
1. Single - The Single brackets, applicable to all single non-joint filers, have the narrowest bracket width
and generally result in the highest individual income tax.
2. Married Filing Jointly - The Married Filing Jointly tax brackets are applicable to all legally married
couples filing their income tax on a joint return. The width of the first three tax brackets are doubled,
and the highest four brackets are expanded (but not doubled) for joint filers.
3. Head of Household - Head of Household is a special filing status reserved for single individuals who
support one or more dependents by themselves. Head of Household tax brackets are wider than Single
brackets, but not as wide as joint brackets.
4. Married Filing Separately - MFS is a special filing type for individuals who are married, but choose to
file separate income tax returns. Only used in rare situations, as you will usually wind up paying more
income tax than if you filed jointly.
Some individuals may have to follow a special tax structure not listed here, such as the Alternative Minimum
Tax (AMT) for certain high-income taxpayers.
When calculating your income tax, it's important to remember that the federal tax brackets apply to your gross
adjusted income, after accounting for any tax deductions such as dependent exemptions, business expenses, and
any other before-tax deductions.
References

Investopedia. (2014). Federal Income Tax. Retrieved from Investopedia:
http://www.investopedia.com/terms/f/federal_income_tax.asp
Landes, L. (2013, 01 05). Update: 2013 Federal Income Tax Brackets and Marginal Rates. Retrieved
from Forbes: http://www.forbes.com/sites/moneybuilder/2013/01/05/updated-2013-federal-
income-tax-brackets-and-marginal-rates/
Tax-Brackets. (2014). Federal Income Tax Table 2014. Retrieved from Tax-Brackets: http://www.tax-
brackets.org/federaltaxtable



WEEK 9

Please choose one of the following topics, research it (need at least 2 sources in addition to your
textbook) and write up a report of 300 - 500 words in APA style. Please submit your write up to
Turnitin.com using the link in the Written Assignments folder. Then post your write up here in the
discussion board. These will be graded on: thought quality, work effort, research, analysis, grammar
and spelling. (Due by end of day Week 9 Day 3)
Types of Partnerships
Characteristics of Partnerships
Famous Business Partnerships
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 -
250 words). (Due by end of day Week 9 Day 7)

Partnerships are firms owned jointly by two or more sometimes many persons.
Most law and accounting firms are partnerships. Some of them can be quiet large. For instance, in 2011, the
Baker & Mckenzie law firm based in Chicago had 1,350. (OBrian. 2014, p.170) Each person contributes
something to the business such as ideas, money or property though management rights and personal liability
will vary depending on which of three modern partnership forms the business takes. (Types of Partnerships,
2014) There are several types of partnerships: general, limited, master limited and limited liability. Partnerships
can be stronger businesses than sole proprietorships because they have more resources.

A general partnership is a partnership in which all owners share business and financial obligations (debt,
for example) of the business.

A limited partnership is a partnership with one or more general partners and one or more limited
partners. A general partner is an owner who has unlimited liability and is active in managing the firm.
Every partnership must have at least one general partner. A limited partner is an owner who invests
money in the business, but does not have any management responsibility or liability for losses beyond
the initial investment. Limited liability means that limited partners are not responsible for the debts of
the business beyond the amounts of their investment, and their personal assets are not at risk.

A newer form of partnership, the master limited partnership (MLP), is somewhat like a corporation (to
be discussed in the next section). It is traded on the stock exchanges like a corporation, but it is taxed
like a partnership, and thus avoids corporate income tax.

Another newer type of partnership was created to limit the disadvantages of unlimited liability. Many
states now allow partners to form limited liability partnerships (LLPs). LLPs limit the risk of losing
personal assets in that partners are only liable for mistakes they or people under their supervision make,
and not the mistakes of their partners and those that the partners supervise. This is often a popular choice
for doctors' practices, where a malpractice suit aimed at one doctor could endanger the business of other
doctors in the practice.

Partnerships are voluntary associations, involve partnership agreements, have limited life, are not subject to
income tax, include mutual agency, and have unlimited liability. (Wild, 2014, p.497)

References:
Anthony O'Brien, R. H. (2014). Macroeconomics. New Jersey: Pearson Education, Inc.
n.d. (2014, July 9). Type of Partnerships. Retrieved from FindLaw:
http://smallbusiness.findlaw.com/incorporation-and-legal-structures/types-of-partnerships.html
Wild, J. (2013). Fund. Accounting Principles 21st Edition. McGraw-Hill.


WEEK 10

Please choose one of the following topics, research it if needed (no sources required this week!) and write up a report
of 300 - 500 words in APA style. Please submit your write up to Turnitin.com using the link in the Week 10 Weekly
Materials folder. Then post your write up here in the discussion board. These will be graded on: thought quality, work
effort, research, analysis, grammar and spelling. (Due by end of day Week 10 Day 3)
IFRS - your thoughts
Most Challenging Concept in ACCT 201
What advice would you give a student on their first day of ACCT 201? May I use your comments in an actual
class?
Also, please respond to at least 2 posts of others. Your responses need to be substantive (150 - 250 words). (Due by
end of day Week 10 Day 5)

The most challenging concept in ACCT 201 for me what the Journal entries. Having to know what
specific name goes where and when. Along with having to know if it is a debit or credit for that journal
entry. Then there was the different kinds of journals in which you had to change the name of what
you enter because it was a different kind of journal. It became confusing and hard to remember what
kind of journal you needed to use along with making sure you use the right name in there. Then there
was the tests that required journal entries. The format in which we had to enter the journals was in
word format. I believe that the format should have been in excel, the word format made me
constantly go up and down to make sure my credit and debit entries where lined up. Not to mention
that the window was so small, it should have been larger. I have come to believe that ACCT 201 is
manly about journals and entering into them. I am great at math and completed calculus my senior
year in high school. Numbers have always been easy for me and with ACCT 201 I thought it was
going to be about numbers. I was wrong, although there are some numbers involved. However, the
main concept of ACCT 201 was to learn how to prepare journal entries in recording transactions.

I thought I would be a great accountant and even thought about majoring in the area of accounting.
My father has a Masters in accounting and works for a large corporation. My brother has a Bachelors
in accounting and has a stable job. I am the accountant for my house hold, I take care of the budget
and all the accounts. However, this class was by far the hardest class I have ever taken. My advice
to anyone coming into this class is to remember the concept of journal entries and understand how
journal entries work. Journal entries may be confusing but dont deter from them, what helped me
was to picture what my bank statement would look like and to switch that view into a journal to better
understand the concept. Yes, you may.