Question: The topic for this week is the What and Whys of Accounting. What is accounting? Your textbook's definition - accounting is the process of identifying, measuring, and communicating economic information about an entity for the purpose of making decisions and informed judgements. The first video (1.1 Introduction to Accounting 1) below states accounting is the language of business. Watch this video then in your own words compare the textbook's definition to the definition included in the video. Now let's talk about the why of accounting. The second video (Why Study Accounting?) discusses the use of accounting for both personal and business reasons. In your own words tell why you think accounting is useful for both personal and business purposes. Post your comments on both the "Whats" and "Whys" of accounting together. The posting should be no less than 200 words.
Just as a reminder, in the Chapter Power Point Slides section you will find power point slides for all 11 chapters. In addition in this section are extra videos that will provide additional assistance.
Remember do not plagiarize. I am looking for your words and experiences not those of others. I will be checking each of your postings. A score of zero can occur if plagiarism is found.
Video: - 1.1 Introduction to Accounting 1 (By Kimberly Dunn)
- Why Study Accounting? (By BLSINC)