Module 1 – Case
INTRODUCTION TO FINANCIAL ACCOUNTING
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?
Create a table with four columns as shown below and complete the last three columns using the expectations listed in Assignment Expectations.
Complete the Statement (3–5 sentences)
Corporate Perspective (3–5 sentences)
Investor Perspective (3–5 sentences)
Accounting refers to:
Accounting is important because:
Corporate Financial statements are:
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.