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Unformatted text preview: Ashford 2: - Week 1 - Instructor Guidance Managers of business today need relevant and reliable information to be able to make decisions. Accountants prepare standard accounting statements to report to outside users. Inside the firm the formulation of accounting data is still scientific but the needs are oriented towards the business operation. Students often say, "I followed the examples in the text and the problems all made sense to me". This is true in this subject. The theory will be about different topics than you have studied in your previous accounting classes. In this class we look at accounting data through the eyes of those who must use it in setting plans and objectives, in controlling operations, and in making the myriad of decisions involved with the management of the enterprise. The implementation of an organization's objectives is known as strategic planning. In any organization strategic planning occurs because we need to: 1) decide on the products to produce and the services to render and 2) decide on the methods to employ. In controlling, managers take those steps that are necessary to ensure that every part of the organization is functioning at maximum effectiveness. To do this they study the accounting and other reports coming to them and compare these reports against the plans set earlier. Control, in large part is a function of obtaining useful feedback on how well the organization is moving toward its stated objectives. In decision making, the manager attempts to make rational choices between alternatives. Discussion Forum: To do the discussion posts you should study the chapter demonstrations carefully as you are reading the chapters and emulate the examples you see in the chapters as you are doing the exercises. Complete all parts of the assignments and show your work. These discussion posts represent the "in-class learning activities" in which you discuss with your peers how to do the assigned exercises and problems from the text. Reading Assignments: Chapter 1: Accounting and the Business Environment Chapter 2: Recording Business Transactions Written Assignment: Toward the end of the course there is also a final project which you should read the instructions for. This project reflects the culminating assignment for the topics covered in the course and should reflect Bachelor's level work practices done in APA format. Please read all the online instructions for all assignments and also the syllabus as you will be responsible for this information. Ashford 2: - Week 1 Week One Learning Outcomes This week students will: Identify the effects of business transactions on the accounting equation. Demonstrate understanding of the accounting equation using debits and credits....
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- Spring '11
- Balance Sheet, Student Answer