Changes record in an organization Essay

Over the next few months you’ll learn a great deal about the accounting function. You will learn that accounting has become the language of business as it is the way resources and resource changes are recorded in an organization. Accounting explains what resources you have and how you acquired them.

Accounting plays an important role in the everyday operations of a business and provides the information in high-stakes decision making and analysis. Moreover, accounting can be as fun as it is financially rewarding. This is a hands-on course. That means that you’ll not only learn facts and concepts, but also have lots of opportunities to practice what you learn. You’ll also get to meet and interview a number of professionals in the field. You’ll explore career opportunities and the professional certifications and designations in the ccounting professions.

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Directions: For each of the statements below, underline “I agree” if you think the statement is accurate or “I disagree” if you disagree with it. Write one reason to explain your guess. Accounting is a process of providing data and information that helps both internal and external stakeholders. My guess: I disagree agree My reason: agree because accounting deals with data. learned: There are many different types of financial reports, each showing a different aspect of the financial condition of an organization.

My guess: gree because the different reports show different aspects of accounting. I An example of a financial statement is “XYZ Corporation was profitable during fiscal year 2012. ” My guess: disagree because it doesn’t really make sense to me. The Securities and Exchange Commission (SEC) and generally accepted accounting principles (GAAP) are called watchdog organizations. My guess: agree because they secure what happens in accounting. Accounting books are never completely closed because of the accounting cycle. My guess: disagree because I think the book can close.

There are three major forms of business organization: partnership, corporation, and limited liability company (LLC). My guess: disagree because there are four major forms Of business organization. I CPA stands for certified private accountant. My guess: agree because it looks about correct.