Posted: January 24th, 2023

Week 11

Respond 1:

 The two concepts in this course that provided the most value to me were refreshing my recording process of accounts in week 2 and profitability and ratios in week 10. The recording process was and will always be an important part of any accountants day-to-day activity. If you are not sure where to record the information or how to record the information, the accounting or financing may not be the career path for you. It never hurts to practice and learn more about the recording process. All accounts, according to our book, contain three parts: a title, a debit side(left), and a right side(credit). The ratios part of the financial statements is so interesting to me. I think it is because of the knowledge you can gain from comparing previous years ratios to the current years ratios so that you can determine the health of a company. There are so many ratios out there that provide information to the company as well as to investors and lenders. Thank you for a great 11 weeks and now to prepare for the next quarter. Good luck everyone and I hope you achieve what it is that you are striving for. 

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Respond 2:

 the two concepts that stood out to me the most were the week we did statement of cash flows and financial statement analysis assignments.  The information gained during those weeks and doing those assignments were very helpful especially in my family’s business.  With a little more practice, I will be able to help my mother keep up with her money a lot easier than she has been doing in the past.  She will definitely be able to account for every penny and she’ll know exactly where her money is going.  It will also allow her to analyze and compare her spending habits as well.  Other subjects that were interesting were the general accounting principles and stock transactions. I don’t have any plans on starting any new businesses in the future but I plan on helping my family keep their businesses running smoothly financially and this class has given me an accounting foundation to do so.  The section on stock transactions got my attention because I never know how to read them and with my job’s 401K plan, they are based on the stock market and some type of percentage.  I still don’t quite understand how to read the transactions but I know what I’m looking at now.  I’m not totally lost anymore. 

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