Module- Case Assignment: INTRODUCTION TO FINANCIAL ACCOUNTING
Assignment Overview
Review the three components in the background material to answer three questions about accounting and its purpose:
• What is accounting?
• What is the importance of accounting?
• What are corporate financial statements?
Case Assignment
The background information for the module includes the basic ideas, but for more ideas go to the optional background source principlesofaccounting.com. The site also offers multiple videos that you may find relevant. You may also use other sites for ideas to complete the table. Do not forget to reference the sources used.
Required
Create a table with four columns as shown below and complete the last three columns using the expectations listed in Assignment Expectations.
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Question
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Complete the Statement
(3-5 sentences)
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Corporate Perspective
(3-5 sentences)
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Investor Perspective
(3-5 sentences)
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Accounting refers to:
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Accounting is important because:
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Corporate Financial statements are:
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Submit a completed table as shown above. Do not copy definitions, but explain in your own words and with examples, if appropriate. Write 3-5 sentences in each cell.
Show sources when appropriate and APA format is suggested, but not required.
The objective for this assignment is to understand the accounting process and financial statements.
Module - SLP: INTRODUCTION TO FINANCIAL ACCOUNTING
There are many organizations, requirements, and credentials supporting accounting standards and the profession. We will review six acronyms associated with financial accounting.
Required
Briefly define and/or discuss the terms listed below. Use your own words. Use the background material, but it is also acceptable to use the library or other Internet resources. Explain why these concepts are important for financial accounting.
• Generally Accepted Accounting Principles (US GAAP);
• Financial Accounting Standards Board (FASB);
• Securities and Exchange Commission (SEC);
• Certified Public Accountant (CPA)
• Annual Report
• 10-K
SLP Assignment Expectations
Two or three sentences are sufficient to explain each of the six items. Do not use an essay format.
Show sources when appropriate, and APA format is suggested but not required.
The objective for this assignment is to analyze accounting concepts for financial accounting.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.